How to recover your investment from PrimeXQ – Scam Broker Review
Be on the Lookout; PrimeXQ is an offshore broker; Your investment is at risk. Read this review you want to recover your investment from PrimeXQ.
Is PrimeXQ a legit broker and how to recover your investment?
PrimeXQ is an unregulated offshore broker that offers services such as forex, CFD and or binary options trading. The broker is registered in a fiscal haven that lacks the intervention of any investment regulatory process. This means that taking legal action against this forex broker is next to impossible. Read this review to recover your investment from PrimeXQ.
PrimeXQ broker relies on a number of tricks to reach their prospects and make them believe that the money they are investing with them is in safe hands and will generate humongous returns. Such tricks include the use of the state of the art websites and apps, with all sorts of attractive trading conditions followed by well-spoken staff and very efficient customer support after signup. This is all smoke and mirrors.
As far as this kind of scheme goes, the PrimeXQ staff could very well be operating as part of a network of anonymous call centers in undisclosed locations. They could outright lie to you about their location and even their names. In typical investment scams, the staff uses stage names when communicating with the clients to add a layer of anonymity. Using excellent sales skills paired with manipulative psychology techniques, the staff involved in these sophisticated scams will prompt the victims to invest always more money, often beyond what they had planned in an attempt to avoid losing it all. This type of scam is now widespread and used to defraud unsuspecting victims billions of dollars annually.
Did you invest with an unregulated broker?
PrimeXQ broker Reviews
A look into PrimeXQ Reviews on various internet forums will reveal that PrimeXQ clients have had issues withdrawing their investments and/ or profits. Though the reviews regarding PrimeXQ have been drawn from various sources, it reveals a similar challenge. PrimeXQ entices clients into this scam through interesting profits posted to their clients’ trading accounts.
The company even goes to the extent of transferring some of the money back to the clients. Once the clients’ trust is gained, they are prompted to invest more money for much better returns. Once the client has transferred the money, the problems begin.
PrimeXQ broker will then manipulate the trading platform to create scenarios jeopardizing the clients’ investments. The clients are then prompted by PrimeXQ Financial Analysts to transfer more money into their accounts to reduce the losses they are facing, often to avoid losing their investments altogether. Immediately after they do this, withdrawing the funds becomes an issue.
How To Recover Your Investment From PrimeXQ Broker?
There is no easy way to recover your investment once you have sent it to PrimeXQ. PrimeXQ is structured in such a way that it makes it hard to pinpoint the scam to specific individuals and prove any wrongdoing. PrimeXQ constitutes a brokers brand that is managed by a chain of shell companies registered in fiscal havens. Building a legal case against the broker would require one to utilize the services of a private investigator to track the money trails and trace it to individuals who could testify of the fraudulent practices of the broker. This does not even factor in the huge legal costs that would be required to institute a civil action in such offshore locations. Such prohibitive costs make it hard for customers of PrimeXQ to take any action.
However, hope is not lost. There are other means through which investors can recover their funds from PrimeXQ, without going the civil action route. A number of PrimeXQ victims have managed to recover their investment by maneuvering the banking legal system. While this method might be unknown to many people, it is possible for an individual to get his or her bank to reverse credit card charges and bank wire transactions in his or her favor. While this is possible, the route has a lot of rules and regulations around such a procedure and it would be wise to hire an expert if you want to recover your money from PrimeXQ broker.
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More reasons why you shouldn’t trust PrimeXQ
Disadvantages of PrimeXQ
Does not have a license
PrimeXQ would be owned and operated by Primexq Ltd., a company likely located in Austria. However, when we checked the address on the broker’s website, it turned out that it belonged to the Austrian branch of Citibank International Plc, which certainly has nothing to do with PrimeXQ.
The latter is in fact not authorized in Austria, or anywhere else. The broker’s terms and conditions state the laws of the Marshall Islands, so we assume that it is in fact registered abroad. This means that PrimeXQ does not have a legitimate license to operate in the regulated markets, including Austria and the European Union in general. However, given the contact numbers on its website, it appears that the broker is illegally targeting investors in the EU, South Africa and Singapore.
This is a major red flag because most unregulated brokers are involved in a scam. And even if they are not, their clients’ interests and funds are in no way protected, so it’s best to avoid them.
PrimeXQ is an unregulated forex and CFD broker that appears to be illegally targeting European investors. Most of these brokers are involved in some sort of investment scam, so, as always, we advise our readers to only deal with strictly regulated brokers. For example, those authorized by the Financial Conduct Authority (FCA) in the United Kingdom or by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
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