The Estonian corporate registration number used by PrestigeFinancialMarkets is 14183116, which is assigned to a company called Nostro Technology OÜ. The Estonian regulator, Finantsinspektsioon, has issued a warning accusing the company of “selling” services they cannot actually provide as described online.
Holding an Estonian registration number, however, does not mean that the brokerage is regulated, only that it is incorporated.
Founded in 2013 or 2016,depending on the source cited, Prestige Financial Markets is a forex, cryptocurrency and CFD broker that claims on its site to be owned and operated not by Nostro Technologies but rather by AllProTech OÜ, whose address is Kai Street 1, 10111 Tallinn, Estonia. The company’s operational address is Lõõtsa 6, 11415 Tallinn, Estonia. The brokerage’s Swiss phone number is +41-445083193 and its Latvian phone number is +37-28804630. The e-mail address is firstname.lastname@example.org.
Prestige Financial Markets uses TradeSmarter, which it calls “the leading platform provider in the market.” No software upgrades or downloads are necessary. Smartphone and tablet-responsive interfaces allow for trading while in transit or away from the desk. The state-of-the-art, easy-to-use, intuitive platform is simple to navigate, regardless of the hardware that it runs over.
The platform offers several new innovative features that will be useful to both new and experienced traders. These include the List View, Selector View and the Box View, each of which can customize the trading platform to meet each trader’s individual style and requirements.
The website is available in English and German. A French version is reportedly in the works. Islamic accounts are offered.
Prestige Financial Markets offers six different account types:
- Bronze, from €500
- Silver, from €5,000
- Gold, from €10,000
- Titanium, from €25,000
- VIP, from €50,000
- Platinum, from €100,000, and by invitation only from an account manager
Each account type features its own features and benefits. All enable a variety of trading options, including short term expiration times of 30 seconds, one minute, two minutes or five minutes, and long-term expiration dates that range from one to two days.
Traders are provided with access to over 100 global assets and a variety of trade options that are delivered with multiple expiration dates, which enables them to diversify their portfolios.
A total of 27 currency pairs (including Bitcoin/USD), 34 stocks, four commodities, eight indices, and one pair (Amazon vs Alibaba) are available.
The company provides bonuses “at its discretion: geographically and regarding target audiences.” Note that the conditions for granting bonuses and participation in promotions can vary according to the trader’s country of residence. In addition, the website states the following:
The act of participation in the bonus or promotional program means the Trader’s consent with the use of their name and/or image in any marketing purposes of the company. The act of depositing the bonus means the refusal of any claims against the company in connection with the granting of the bonus.
A demo account is available.
Payments can be made by Visa, MasterCard, Maestro, Diners, and JBC cards, bank wire and Neteller e-wallet. The minimum deposit is €250. Prestige Financial Markets only accepts euro, so payments in other currencies will be exchanged at their current value at the time they are received.
The education section on the Prestige Financial Markets site provides e-books, live webinars, a video library, and an FAQ page. Detailed asset price charts present valuable statistical data.
The company’s business hours are Monday through Friday from 10:00 AM to 10:00 PM. It is not specified whether those times are GMT or local. Presumably, the support team can be contacted during business hours by e-mail, telephone and the online contact form, although this is not explicitly stated ether. A Skype option reportedly exists as well. English and Arabic speakers are supposed to be available to answer telephone and Skype calls. Connectivity problems have been reported using the live chat option.
In the past, Prestige Financial Markets was not regulated by a major governmental agency but did claim to be registered with the Private Investor Protection for Securities and Exchange (PIPSEC), which it describes as an independent industry entity. The Estonian regulator, Finantsinspektsioon, in contrast, calls it a “fake registry.” It now claims, however, to be a brand of Leadtrade Limited, a Cyprus-based investment firm that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). Such licenses, however, are generally not transferable.