ForexTimePrime.com

It didn't take long to dissect ForexTimePrime.com and see it for the scam it truly is. Read on for more.

The broker claims to be “globally licensed and regulated”, but all we found was an address in Cyprus. But no regulation is in place, for we checked with the Cypriot regulator. So, the address is a fake, otherwise the broker would have been legitimized by CySEC,

In the terms and conditions, we find a popular claim issued by unlicensed and illicit brokers:  “This site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.”
What this entails is that the broker has given all the responsibility of being regulated- which should be its own endeavor- to the user, essentially shifting it. And so now, users who read this will think that they are responsible for being regulated by their applicable jurisdiction regulator, where as in reality there is no need for such an undertaking. The broker has the sole responsibility of being licensed.

There is no other info that the broker reveals about itself. But, we have another one for you. We were able to find an FCA warning issued to the firm. The FCA is perhaps in the top list of most demanding regulators, not just in Europe but in the world, and a red flag from them is basically a “do not invest here” sign.

ForexTimePrime.com is completely unregulated, and a total risk to all users. All deposits will be lost!

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

After an easy registration, we discovered that the user area had a charm to it, as it looked unique and somewhat advanced. This has the potential of attracting users, making the user area the most dangerous aspect of the broker.

However, when it came down to a trading software, ForexTimePrime.com completely fails. The truth is that there is no trading software; the broker offers an MT4 web trader but with MetaQuotes demo servers on whihc users won't be trading with ForexTimePrime.com but on demo accounts.

Without a trading software. there are essentially no applicable trading condition like spreads, leverages, and tradeable assets.

FOREXTIMEPRIME.COM LOGIN

As we mentioned. the MT4 servers are based on the MetaQuotes' own demo account wwhich have no affiliation with the broker.

Therefore, there is no platform used here, leading us to the core question of ForexTimePrime.com status as a broker. A firm without a trading software is no broker!

FOREXTIMEPRIME.COM MINIMUM DEPOSIT

All deposits are at a high risk of being lost.

The user area tells us that crypto wallets and credit/debit card, WesternUnion, and MoneyGram are the available deposit methods.

In the payment area, the broker requires all credit/debit card details, including CVV and there is no amount bar; the user gives away his card details willingly, without ever actually applying for a deposit. Do not give your details, for ForexTimePrime.com will drain your credit or debit card without hesitation.

Furthermore, the e-wallets were blocked, and the only way to access them is to contact the broker's rep team, leaving only the crypto wallets as the only depositing method. And here, users send money to an unknow address, which means losing the money.

There was no minimum deposit revealed anywhere.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

FOREXTIMEPRIME.COM WITHDRAWAL TIME AND FEES

Users will have a very hard time withdrawing their funds here, almost impossible for that matter.

Withdrawal details are completely missing from the picture. The website has nothing, and neither did the user area.

ForexTimePrime.com has simply left out this information, whether purposefully or not.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

We dare anyone to give us one good reason to invest in ForexTimePrime.com. It would be impossible for no such reason exists. Once invested here, everything will be lost.