The ownership of this trading brand allegedly belongs to Prince Markets International LTD. The primary address is in Seychelles. However, the headquarters address is presented as in the Netherlands. This would mean they might even be genuine. Yet, they are not.
There are numerous reasons why any trader should think that. But if you read this Prince Markets review, you will realize it very quickly yourself.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | N/A |
| Registered In: | Seychelles |
| Operating Since: | 2021 |
| Trading Platforms: | Proprietary platform |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $100 |
| Deposit Bonus: | Available up to 100% |
| Trading Assets: | Cryptos, forex, indices, shares, commodities |
| Free Demo Account: | Available |
| How To Withdraw From This Company? | With non-transparent withdrawal options and policies, traders can expect a wide range of problems along the way. If you experience any, contact our refund specialists for free first consultation. |
Legal Info: Is Prince Markets Legit Or A Scam?
The first irregularity with this brokerage is its regulatory status. As can be seen, the company presents two licenses they allegedly have. One is coming from the Financial Services Authority (FSA) Seychelles with a number SD037. The other one is of the Cyprus Securities and Exchange Commission (CySEC) with a number 138/11. At first glance, this might look legit.
Yet, the FSA license is completely fake, and many other scam companies often use such a number. There’s even a warning from the FSA on the topic. In addition to that, we can see that the Cypriot license belongs to another firm, TopFX. And voila. The scammer is exposed.
Who Are Prince Markets’s Victims?
This firm has been operating for about two years (since 2021), and still, there are zero Prince Markets reviews. It seems their credibility is not as high as they present it.
In any case, most of their victims come from:
- United States
- India
- Vietnam
- Mexico
- Philippines
But if you are coming from this country or any other, feel free to share your experience in the comments below. If you like and if you have a negative experience, you can contact us directly and get our advice on the next step.
Leverage, Commissions, Spreads, Fees and Taxes
Another way to expose the company’s scam is through the trading conditions. To be precise, leverage. In general, CySEC-regulated firms usually offer leverage up to 1:30. But with this firm, you can get up to 1:500.
If you are looking for a clue as to how much trading with this firm will cost you, forget it. They don’t provide any details whatsoever.
Bonuses
Important to realize is that this firm is also offering bonuses on all Prince Markets account types. Thus, the bonus policy is missing, which is another point where you can expect manipulation.
But to avoid these, read our Alpari review and learn more about the trading world.
Prince Markets Trading Features
Another big disadvantage is that the company does not offer any advanced trading features, such as EAs, social trading, or copy trading. Instead, they advertise features like advanced charting, hedging systems, timeframe customization, and fundamental and analytical analysis tools.
Yet, the reality is that all these features are just basic options with any other legitimate platform, such as cTrader or Meta Trader.
Trading Platforms Available
At least, there’s one thing good about this firm. They have developed a proprietary trading platform. It’s downloadable for all devices, and it shows us the company’s commitment.
Yet, without regulations, can we truly trust this software? Also, they claim to offer MetaTrader 5, which they don’t. It’s your choice if you will trust that or not.
Available Trading Assets
Generally, the company’s instrument offer is no different than any other seen with other brokers. Traders can choose assets across five major categories:
- Forex – EUR/GBP, AUD/SGD
- Commodities – cotton, coffee
- Shares – Google, Meta
- Indices – NASDAQ, FTSE 100
- Cryptos – ETH, LTC
Account Types
Another potential benefit of this firm is the minimum Prince Markets deposit requirement. Traders can start with $100 only and explore all the options.
But is it a fair offer, or do they just want to get more newbies? We are about to see. Anyway, account options are:
- Silver – $100
- Gold – $500
- Platinum – $5.000
- Palladium – $100
Mobile Trading App
On the positive side, the company’s proprietary app is available in trusted stores, such as AppStore and PlayStore. On the negative side, we can see the app on PlayStore has only a bit over 100 downloads. That’s not a good sign.
But to learn why trusted apps are important, read our IC Markets review.
Demo Account
Another important fact is that the company offers a demo account with a $10k virtual balance. Therefore, you can explore Prince Markets’ platform options before depositing.
Still, it remains a question: Should you leave contact details with a swindler?
Education
If you are looking for live sessions or webinars, this company is not the right place for it. In general, this firm only offers a general explanation about trading through articles. Yet, none of the advanced educational options are available.
Prince Markets Withdrawal
When it comes to withdrawals with Prince Markets scam broker, you can expect literally anything. Even though the withdrawal-related section is available, it doesn’t reveal any relevant details, such as processing time or fees.
Unfortunately, not even the T&Cs reveal that information. Therefore, you can expect a wide range of issues there. We suggest you prepare your nerves.
Customer Support
The customer support with this scam firm is another potential problem. They claim to be available on workdays, but working hours are not specified. Even though they offer a phone line with Swiss country code, you shouldn’t trust it much. After all, it might be a VOIP service.
In any case, other contact options are e-mail and web contact forms. Sadly, live chat or Skype are not available.
Key Information To Consider About Prince Markets
Primarily, there are regulatory issues since the company is using other companies’ details. On top of that, they are offering highly risky and unclear trading conditions. In the end, you have a non-existent withdrawal and bonus policy. Therefore, everything is prepared for a notorious scam.
If you fall for their tricks for some reason, you shouldn’t whine. Simply contact our refund specialists, and you will realize how quickly some issues might be solved. After all, the first meeting is free. So, what are you waiting for?
FAQ Section
What is Prince Markets?
Prince Markets is a fake FX and CFD trading firm allegedly founded in 2002 and still their domain was registered in 2021.
Is Prince Markets Regulated?
No. Even though the company presents itself with CySEC and FSA regulations, those license details are incorrect.
How to Recover Money From a Scam Broker?
The easiest option is always a chargeback. In case such an option is not available, you can apply for other methods. For detailed guidance, you can contact our refund team.
