Full and honest review about PremierFX
PremierFX is one of the online brokers that you can use for trading. It is important to make sure that you are going to get all the essential information in order for you to decide if they are safe and recommended to use for trading.
The problem that many traders have, is that they don’t do research before they use brokers. And, they are ending up using the wrong broker. This is why it is important to know the full and honest review of PremierFX. Then, you will see that they might not be as reliable as what you might have thought.
PremierFX is situated in Vanuatu. They are forex and CFD brokers that are offering a couple of cryptocurrencies. With further investigation, it is shown that they have a valid address, email and telephone number.
This is where most of the traders stop doing research. They find a valid address and telephone number and they decide that they are now legit and real. However, this isn’t the only thing that you should look at before you decide to use a broker. There are other things that you need to know and consider as well before you can make a final decision.
Are they registered and regulated?
Something serious that you should make sure about is if the brokers are registered and regulated. And, this is the first sign that PremierFX might not be the best broker on the market.
They aren’t registered at a legit international company, and they aren’t regulated as well. This is a serious matter to consider. If they aren’t registered, it actually means that they aren’t legit and that they can make their own rules and regulations. This can have serious consequences for traders.
Account and minimum required deposit info
PremierFX brokers are offering three account options. The Basic, standard and pro account. There is quite a lot of information about the account options available on their site. However, this is really hard to read, because of the background color. The question that we have, is that is this why they choose the background color or was this just an honest mistake.
The minimum required a deposit isn’t too much. There are brokers that are offering lower deposit, but the deposit required isn’t that high with PremierFX. For the basic and standard account, they require a $100 deposit. With the pro account, they require you to deposit$3,000 before you can start trading. And, the deposit with the pro account is ridiculously high.
Good things about PremierFX
There are a couple of good things about PremierFX that can let you consider using them. They are making use of the best platform, MT4. This is a great platform to use for beginners and for experts.
They do offer some great and popular payment options. This is great for those that are looking for other payment methods than paying with your bank account.
It is a new company with not many reviews
Something that we found as a problem is a fact that this is still a new company. Meaning that there isn’t much information and reviews about them. The thing that caught our attention is the fact that in this small time that they are online, they have gotten more negative reviews as positive ones.
It isn’t a great idea to use new brokers for trading. Especially, if it seems that they aren’t legit and registered.
It is hard to get all the necessary information
Another thing that we found as a problem is that you don’t get the necessary information needed to know for sure that you can use PremierFX as your broker. As we said before it is difficult to read everything about the different accounts, and it is hard to know exactly what their rules and regulations are.
The question that we have, is why is it so hard to get all the necessary information. Is it because they have something to hide?
This is what regulators are thinking about PremierFX
What are regulators thinking about PremierFX? Do they think that this is a great broker that can be used? Or, do they warn traders about using them as brokers?
The fact is that most regulators are warning traders about using PremierFX. This is because they aren’t regulated, registered and the fact that it is hard to get all the necessary information about them. There are even some regulators that have blacklisted them as brokers, because of all the negative things about them.
Traders can get confused about the broker that they should choose for trading. This is because there are so many brokers to choose from. Some are legit and recommended. While others might be not as recommended and trustworthy. PremierFX is one of those brokers that you should rather ignore. Find brokers that are more recommended, registered and regulated is the best thing that you can do. PremierFX is for sure not the best broker on the market.