Uncertain about Prestige-coins.com platform? Is the broker genuine or scam? Let’s read Prestige Coins reviews to know about this forex broker.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Prestige Coins
Prestige Coins FX otherwise known as Prestige-coins.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
Is Prestige Coins Regulation Claim Genuine?
First of, Prestige Coins claims to be headquartered in Zurich, Switzerland. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
In order to clear the suspicions, we searched the register of the Swiss Financial Market Supervisory Authority and it turned out the broker is not licensed or authorized there.
Regrettably, the Canadian regulator warns that Prestige Coins has no legit forex license and no authorization to offer financial services of any kind to customers in the province.
Furthering, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Does Prestige Coins Have Account Types?
Prestige Coins offers variety of trading account for clients like Self-managed, Basic and Gold. According to the account description, the broker offers leverage capped 1:400.
Prestige Coins deposit is indicated $250 according to the account type. This may appear affordable but with an illegitimate broker, it is a risk.
In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the broker funding methods, Prestige Coins presents multiple payment logos like VISA, Mastercard, OK Pay, bank wire transfers and Bitcoins.
Prestige Coins withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Prestige Coins Trading Software
Prestige Coins offers web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced. We were only offered a chart tracking various markets which is a far cry from an actual trading platform.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Prestige Coins Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Prestige-coins.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdicts:
Prestige Coins located at Prestige-coins.com appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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