Problem Prime4X is scam broker.

[NickB]

maybe they did not set out to scam customers but they certainly are scammers now. The fact that they do not honour withdrawals and yet still take money from new customers proves that.

 

[geshin ibikunle]

PRIME4x.com ;An ambassador of death

this broker refuse to pay my withdrawal of 600$ for two month now. This is after several conversation with them.Kindly assist.

 

[NickB]

Enough is enough. I am going to make a youtube video on these guys.

 

[hyper]

FXopen - Never used them, they tend to have mixed reviews but most people say they are good. I know a few traders who use FXOpen and they seem to like it.

They lost their license with The Mauritius Financial Services Commission in May 2010.

TadawulFX - While I cannot recommend it myself as I have never used them. I know quite a few traders who do use them and I have only heard great things about this broker.

I trade with them and they are one of my favorite brokers. They are active on the Forex Factory forums. Some disadvantages are that minimum trade size is 0.05 lots (5000 units of base currency), and bank wire transfer fees for both deposits and withdrawals (though deposits are free this month).

Vantage and Gomarkets I do not believe I have ever heard of.

I have traded through GoMarkets and they are Ok. You can get high leverage. Customer service is good. They are very active on Forex Factory forums.

You should also check out Ikon-Royal.com they are a good broker.

I trade through them and they are good. I don't like the low leverage though.

From the list you gave me I would say TadawulFX is the better broker. Plus they are a Swiss broker so they probably are regulated there which is a good thing. Swiss regulations are tough! You should ask about whether or not they are regulated first.

You are incorrect. They are not Swiss regualted. They are regulated by CySEC. They are also registered (but not regulated) with FSA (UK).

Make sure you avoid Prime4x and FIGfx.

 

[NickB]

Are you sure about that I spoke to a representative from the broker before I made that post and he said they are a Swiss broker that fall under Swiss regulations.

 

[merlin4x]

Prime4x scaming me too.... I am soo stupid.

I am with Prime4x for more than 1 year and never had any major problem. Obviously I have never withdraw money only play and lost.

Recently, I have made additional deposit $500. They started switching my account from NANO to MINI in the middle of my trading so I have lost about $90 and I have decided to close my account and withdraw my deposit from newly opened account.

Now they giving me runaround and saying: we are processing your withdrawal it will be done soon.

Although it was not yet 5 days since I started but I feel that they are going out of business judging from their double $1000 deposit scam and other downsizing.

I strongly recommended a boycott:unhappy:

 

[DavidWalsh]

They lost their license with The Mauritius Financial Services Commission in May 2010.

Who lost their license? Do you mean Prime4x?

 

[hyper]

Are you sure about that I spoke to a representative from the broker before I made that post and he said they are a Swiss broker that fall under Swiss regulations.

Yes I am sure. Switzerland made some changes such that brokers who operate there need to have a banking license. Only a few brokers have gone down that path. MIG and Dukascopy have done it, and ACM requested for one but have not yet received it.

Nowhere on Tadawul FX's web site does it state that they have a banking license or are regulated by FINMA (Swiss Financial Market Supervisory Authority). They operate from Cyprus and use a bank account in Cyprus to hold client funds.

 

[hyper]

Who lost their license? Do you mean Prime4x?

If you look at the quote that I was responding to you can see that it says FXOpen.

 

[NickB]

No clue why the representative said they are under Swiss regulations. Thanks for the info.