Premarkets Review: A Warning for All Crypto Traders
Are you considering diving into the world of Premarkets trading? Hold your horses! Before you take the plunge, let’s see the truth behind this seemingly friendly brokerage. In this Premarkets review, we’ll talk about everything! We will cover the firm’s claims, practices, and the potential risks it poses to traders. Let’s dive in to discover more facts!
|Financial Authorities Warnings
|FCA, IOSCO, AFM
|If withdrawal is possible
|Low – undefined
|If Active on Social Media:
|United States, Canada, India, Australia, United Kingdom
|No regulation and high leverage
|Solid trading instruments
About This Shady Company
So, what is this company? Premarkets claims to be a Belgian identity with a focus on crypto trading. This broker allegedly wants to make your crypto trading easier. However, we can see some alarming red flags here.
The claimed address in Belgium lacks an FSMA license, a requirement for dealing with securities. There are also discrepancies in the location, which ruins our trust in the broker. We would stay away from this firm.
The Mirage of Premarkets Regulation
Terms and Conditions point to Bulgarian courts for dispute resolution. Yet, the Bulgarian financial authority, FSC, has no association with this broker at all.
Multiple regulatory bodies, including FCA, CySEC, ASIC, NFA, and BaFin, disavow any licensing of the Premarkets scam. The lack of a trading license suggests the broker isn’t legit!
Keep in mind that this broker has been blacklisted by many regulators. They are as follows:
Premarkets Trading Conditions
Now, what is there to know about trading conditions here? The leverage offered by the Premarkets trading firm is a staggering 1:10. We must say that this violates industry standards set by Tier 1 regulators.
This reckless approach, along with the absence of negative balance insurance, is risky! Keep this in mind! Beware of this seemingly friendly facade hiding a profit-centric agenda.
Where Does the Broker Operate?
This shady firm strategically targets Australian traders. Namely, we found a surge in negative reviews from this region. However, the broker extends its services to various heavily regulated countries, including the USA, Canada, the United Kingdom, Denmark, and the Netherlands.
Working without a valid brokerage license raises serious questions here. This company doesn’t care about legal standards.
Trading Platform – The Illusion of Sophistication
While the web trading platform here may seem user-friendly, it is not! Notably, it lacks the sophistication of leading platforms like MT4, MT5, and cTrader.
Beginners might find it adequate, but advanced traders seeking in-depth analysis tools will be left wanting. Our recommendation? Turn to reputable brokers that offer extensive tools for crafting profitable trading strategies. This goes without saying!
Tip: Did you know that the biggest perks of My Funded Futures are the pass-in-1-day feature and no activation fees? This prop firm has become quite popular among traders.
What Instruments Does This Broker Offer?
Now, let’s cut to the chase and hop into the nitty-gritty of Premarkets’ trading offerings. Here’s a snapshot of the available instruments:
- Dow Jones/USDT
- Astra Zeneca/BTC
We advise you to be careful when exploring this diverse range of assets. Remember, appearances can be deceiving! Still, keep in mind that even their website design is poor.
Premarkets Withdrawal – How To Withdraw From Here?
This fake broker sets a minimum withdrawal requirement of $50 per transaction. And this is accompanied by identity verification and tax obligations.
Clients bear all payment and transfer charges. Moreover, the firm does not disclose any of this info! A promised 5-business-day processing time may end up as an excuse for denial, leaving users frustrated.
We advise you to choose brokers that are transparent about payment options. Safe businesses often include PayPal, cards, Skrill, Neteller, or crypto payments. Keep this in mind!
Tip: Funder Trading seems to be a groundbreaking proprietary trading firm that offers up to $200,000 in capital. Many traders love this platform.
Premarkets Reviews on Trustpilot
On Trustpilot, this forex scam barely scrapes by with a 2.8-star rating. This indeed confirms our initial suspicions! Know that trust matters in this game, and this broker falls short.
We’re not alone in this skepticism, as users are also concerned. Our advice? It is best for you to opt for firms rated 4.5 stars and up. In the FX scene, trust is everything, and choosing a reliable platform protects your hard-earned money.
Spotting Scam Tactics in Online Trading
Unfortunately for us, scam brokers are crafty. The first giveaway? They’re not transparent. If you see unclear terms, sneaky fees, or confusing withdrawal conditions, that’s their first trick.
Be in the know, as some companies manipulate trades to make sure they win while you lose. And keep an eye out for high-pressure tactics, like super pushy sales pitches. These are big, flashing warning signs!
As you check out different trading companies, keep your guard up. Look for these signs to steer clear of scams and keep your trading experience safe and sound. Stay sharp and tackle the trading world with confidence!
Earning Money Trading – A Path to Financial Growth
Are you ready to pocket some cash through online trading? With the proper knowledge, it’s easier than ever! Moreover, we’ve got your back at every turn. Get in touch for free advice on the ultimate forex and crypto platforms.
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So, what did we conclude after all? To sum up, diving into online trading means choosing wisely. After checking out what this company has to offer, we can only advise you to avoid it. Sadly, their only goal is to steal your funds.
Our tip? Select platforms that put your safety first. As an alternative, peek at our AI Analysis Tool – a game-changer for savvy traders! In the trading world, smart choices mean more money, so choose wisely and trade safely!
What is Premarkets?
This is a suspicious trading company that lacks regulation.
Is Premarkets a Regulated Broker?
As per our Pre Markets review, this broker is not regulated, it lacks proper oversight.
How Reliable is Premarkets?
This is a suspicious broker that received multiple warnings.