Global PrimePips(Globalprimepips.com) is the name of a notorious platform that is posing as a brokerage entity that offers enormous value to the clients. However, in reality they are a simple ponzi scam and the evidence we have got to support our conclusion are plenty. At first, even we were blown away by the kind of presentation they offered and their online popularity means the crooks behind the operation are most likely to be skilled.
They claim to be an investment firm based in the United States and they also feature some type of registration certificate. Nonetheless, just because they show a piece of paper does not mean that they are regulated. You might have come across a few trading related tools and software on their platform.
Though they have featured relevant widgets, it is just a trick used by them to look professional, but apart from gimmicks they have nothing to present. Financial world is a place that is filled with opportunities. Each and every day, depending upon your risk appetite and strategy, there will always be something going on that can be translated into profits.
However, you need to know the ground reality very well or else the markets might inflict unimaginable pain. To learn more about this platform and the ways they use to take money from the public, stay with us till the end.
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Is Global PrimePips a Licensed Brokerage?
In the United States, the number of fully authorized brokerage services are few and the credit goes to the efficient working model of their regulatory bodies. Few decades ago, the law was loose and due to obvious reasons every scam on planet Earth used to target residents of the US in one way or the other.
To put an end to the agony of the retail side, the law was tweaked and new systems were placed to curb the activities of the crooks. Now, it is harder than ever to hold valid US licenses and any company that is regulated by FINRA or CFTC are considered highly reputable. This firm is involved in a number of criminal activities, yet they claim to be regulated in the United States.
There is no shred of evidence to support their statements and clearly, they want to be perceived as an authoritative figure. In their About Us section, they say that the investors are not exposed to any risk. Trading involves risk and it is something that just cannot be eliminated completely.
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Maintaining a rounded portfolio can also experience a drawdown once in a while and that is just the way the markets work. The way they have bluffed about the important aspects in the sector is way too obvious and as such, they are going to be put behind bars very soon.
Do they really provide Financial advice?
Taking investment or financial advice from this firm is going to be a highly risky deal. For starters, they do not have any licenses that allow them to control the capital of the retail investors. Moreover, they do not have proven trading records as well. Though they sell investment packages all day long and promise returns ranging from 35% weekly to 40% per day risk free, you need to know that the numbers are absolutely nothing more than fictitious.
The current market conditions without doubts is volatile, but it does not move enough to make double digit returns on a daily basis. If we take the historical average returns of the US500 index, the numbers are roughly around 8% per year. While there might be few people that have managed to achieve higher returns year or year, more than 90% of the participants have not been able to do that.
So, it is safe to assume that they are bluffing about everything related to their achievements and offerings. On their homepage, they say that their platform offers upto 1:1000 leverage and 100 plus trading instruments. We tried our best to access their platform, but every time we registered with them, it only pushed us towards making the deposit towards the investment packages and that’s a red flag in every sense.
Contact Details and Support
Regulated and unregulated brokers give importance to the customer satisfaction aspect as it helps them retain the clients for longer. Oddly enough, this platform completely disagrees with the statement mentioned above and their actions completely proves it.
For starters, though they offer LiveChat, no one can get a timely reply from them. They can be reached via email, but the amount of time they take to reply is unknown and if you want assistance from them, then do not expect any kind of professionalism from their side.
- Address – 12 Kensington Gardens, Ferryhill, DL17 USA
- Email – firstname.lastname@example.org
Global PrimePips Trading Reports
From Etoro to any other established social trading or copy trading platform will publish the results of the top clients in order to give the glimpse of reality to the clients. The reports generally contain the winning ratio, maximum drawdown along with the risk management methods employed by the master trading account.
Main intention of these types of automated trading programs is to help people create a consistent source of income without having to deal with the markets firsthand. Undeniably, the concept behind this form of trading is good, but scam brokers and ponzi schemes are finding the loopholes in this segment and are scamming thousands of investors.
Before using any kind of copy trading service, always ask for previous trading records and proceed with them only if the data makes sense. Global PrimePips has not revealed their audits on their website. Furthermore, they have not shared the details about their strategies as well.
In other words, this platform is outright refusing to provide any tangible parameters and that kind of lack of transparency is concerning. We even tried to ask the support team for more data, but we did not get any reply. If anyone gives them money, then it is equivalent to trusting a stranger on the internet, the story will never end well.
If we focus entirely on the flaws of this platform, we are pretty sure that you will get bored because of the sheer number of things that are wrong with them. However, there are few specific things they have said that are too manipulative and they are as follows.
Asset Class – On their website, they call themselves a reliable brokerage that supposedly helps people trade 100 plus instruments. They have dedicated sections that talk about the popular sectors of finance and the information given by them is very basic.
If you try to see their trading dashboard, then you will fail for sure because they do not have one. Now, the question is, why were they talking about services they do not offer? Isn’t it obvious that they were trying to trap the newbies?
Trading Conditions – Every broker features the details of swap rates, commission charges and other associated charges such as the withdrawal fees beforehand. On this platform, they claim to have tight spreads and fast execution, but there aren’t any parameters made public.
In simple words, the associated costs and the dormant fee charges are unknown and that kind of gap in understanding gives them immense control over the client’s money. No experienced trader would ever agree to invest money with them, because of the telltale signs present all across their platform.
Charting – Charting solution provided by this so-called brokerage is also not revealed to the public. Charts are an extremely important tool for every trader and without knowing the functionality they offer, no person with reasonable experience with the markets would continue with them.
The lack of details along with poor explanation and fake narratives clearly tells us a lot about their character and undeniably, the end result is too easy to predict.
Minimum capital one needs to come up with in order to use the services of this platform is $500. The minimum funding barrier is pretty high compared to industry’s average. Note that there are a lot of confusions regarding their policies and as an end result, it gives the crooks immense power when it comes to making the payment.
They only accept cryptocurrencies and in case of any delay, there is literally nothing you can do about it. If you have deposited with this fake platform and are unable to recover the funds, then do not even think about giving up.
Let us know certain details of the incident and the transaction via contact form made available below and we will assist you in the recovery process. Our organisation offers consultation for free and our experts have significant experience in this niche. In other words, by getting in touch with our team, you will have a high success rate and there is zero cost involved.
Fake Feedback and Manufactured Stories
We live in an online world and there are few things that are common in this space. For instance, people are always inclined towards gathering more data before making any purchases for obvious reasons. On the flip side, due to the number of frauds and scams present in this space, looking for user feedback is never a bad idea by any means.
Though, user feedback is hard to manipulate, there are few instances wherein the scammers were able to achieve success. On this platform, there are comments gathered from clients. If you see the comments, then do not feel guilty if you are getting tempted.
However, do note that all of the things they have shown are from bogus accounts and that is an age old concept used by scams. As of now, there are no third party forums or trading related blogs talking about them. Nonetheless, it does not mean that they are innocent. We request you to give it a little time and eventually more truth about them is bound to raise to the top.
Global PrimePips Scam Review Conclusion
Global PrimePips is a ponzi type scam that is portraying themselves as some sort of high end brokerage firm. The details about their founders and top employees are all fake and they do not have any connection to the real markets. Their cash flow is correlated with their marketing capability. However, in the end the whole thing has to come down hard and that is the law of the universe.
Making 40% returns daily is an absurd target and regardless of the miraculous strategy one might use, it is impossible to attain the goal on a consistent basis. So, do not chase things that do not exist, instead understand their real agendas and do everything you can to stay away from them.