Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

Prize FX is a forex and cryptocurrency broker that guarantees transparency and customer satisfaction. However, the design of this company’s operations lacks exactly those two. This website is full of lies and is very unprofessional. There is no way we can recommend such a subpar platform to you.

Moreover, the platform only launched in December 2020. It has no right to call itself the best forex and cryptocurrency broker in the market. It takes longer to learn the ins and outs of the market. There are better companies that have been in the market longer.

On top of that, this company is using fabricated identities. It does not get any worse than that. These people are not worth an investment. They are only in the market to steal people’s funds. You are better off with companies that have been around for a long time. Such companies have the trust of millions of investors for a reason.

Prize FX Review

Despite public records, this company continues to present false information. There is a roadmap on the website dating all the way back to 2010. Allegedly, the platform launched on April 20th, 2010. We know that this is a complete lie. Whois.com reveals the launching date as the 3rd of December 2020.

Either way, this company may lure in a few novice traders to its platform. After all, it is doing a great job to put on a professional look. But upon closer inspection, you will realize that this company does not even have a trading platform. There is no way to execute trades in the market. This means that there is no reason to invest at all.

Further, this company provides clients with trading education. The team promises that they can help you become a professional trader. Yet, the company does not introduce us to any of its educators. You should never take investment training from anonymous individuals. You may be learning from armatures with no knowledge nor trading experience.


Furthermore, professional companies will always reveal the identities of the educators. Additionally, they will provide verifiable trading results. This helps the investors in the decision-making process.

Prize FX Customer Support

Believe it or not, there is no form of customer support on this platform. The only way to reach the company is by filling out a contact form. There is no live chat option nor a phone number. There isn’t even an email on the Contact Us page.

You will never have the luxury of contacting the team with any of your queries. These people are making it impossible to trust them. Customer service is an essential service in any company. It is especially important in companies providing financial services.

Evidently, we are not dealing with professionals here. These people only put out a website to attract customers. They have nothing tangible to offer investors. We urge you to avoid this company like the plague.

Prize FX Investment Plans

Prize FX tailors investment plans depending on the market you are investing in. The investment plans on the platform include Binary and Forex, Gold, Oil and Gas, and Mining. Alongside each of these plans is a referral program that guarantees investors a 10% referral bonus. We expected unprecedented access to these assets, but it seems that this is not the case.

Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

As mentioned earlier, this website does not have an actual trading platform. Therefore, it seems that the only business model here is the referral program. Moreover, the company boasts of being a cryptocurrency broker. However, we did not see any plan that covers cryptocurrencies.

Clearly, these people are just trying to ride the hype behind cryptocurrencies.

These antics, and more, are the reasons why you should not trust this broker. The founders are using fake statistics to manipulate people into investing. They want you to believe that real people are profiting from their services. This is a lie and just a marketing scheme.

Prize FX Regulation Status

Prizefxonline.com claims to have regulations both in the EU and outside the EU. According to the website, the headquarters for this company is in London. The body in charge of financial regulations in the UK is the FCA. On top of that, the company claims to have regulations from CySEC and ASIC.

We checked each of these regulators’ registries and did not find any results. This company does not have a regulatory license from any of the regulators it lists. Additionally, it does not have regulations in any of the countries it operates in. These include St. Vincent and the Grenadines, Vanuatu, the British Virgin Islands, and Malaysia.

Even worse, this company is on a regulator’s warning list. The MSFA from Malta warns people from investing here. The reason for this warning is that Prize FX is an unlicensed entity. This makes the operation illegal. These people know that, but they do not care. There is no telling what they are willing to do to steal your money.

Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

The People Behind Prize FX

We wanted to know who exactly is behind this company. We believe that it is very important to know the people you are investing in. Unfortunately, this company does not see the importance of this. They are using stock images to hide the identities of the founders. One of the images they use is of an Australian politician, Mark Parton.

Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

Therefore, we have no idea who is running this website. We do not know what their background nor trading history looks like. For all we can tell, these may be criminals. There are too many risks in sending your money to complete strangers.

Essentially, these people do not trust you enough to reveal their identities. However, they want you to trust them blindly and send them your hard-earned cash. This is common in scam operations. The founders always hide their identities so that no one tracks them down.

Nonetheless, the law will catch up with such companies and will shut them down. For your own good, you do not want to be a customer when that happens.

Prize FX Customer Testimonials

This company keeps up with its fabrication by using fake customer testimonials. There are dozens of testimonials on the website. At first, you may believe that people are earning from the platform. However, we had to confirm this. We did a reverse image search and were not surprised by the results.

Prize FX Review: Prizefxonline.com Is On A Regulator’s Warning List

The images that these people use are stock images that any company can use. In reality, no real people are enjoying the services of Prizefxonline.com. On the contrary, we believe that a lot of people have already lost their funds to these scammers.

Conclusion

Falling on a regulator’s warning list is the worst thing for a forex broker. This tells us that the company is an illegal operation that people should stay away from. We can only conclude that this is a scam operation. This is why the founders are hiding their faces.

If you are looking to invest in the forex market, this is not the company for you. There are companies that have been in the market for a long time. They have the trust of millions of investors for a reason.


Disclaimer

The article posted herein is published by members of this site. Any information you find on this article is base on the opinion and view of the publisher. You are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this article.

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1 Comments

@peepso_user_3288(flora41)
There are too many unregulated brokers this days. My advice to anyone is to stay away from these new FOREX and BINARY OPTION companies and to also withdraw all funds completely after making your first profits. I have been scammed by several of these companies. But I’m glad that I had all my money returned including all profits, thanks to a recovery expert. You can reach them to seek for help if you’ve also lost money to investment. Their website is “Scaminspect. c o m”. I am certain they will be able to help you too.
1 month ago