PRIMECFDS I think they are a scam

Investment ForumCategory: Broker QuestionsPRIMECFDS I think they are a scam
Kevon Mason asked 2 years ago

I foolishly invested a large amount of money with WMOptions approximately January 2017, who have now changed their name to PrimeCFDS.

My account manger Ethan Stark assured me that I would easily be able to make a withdrawal. Not long after informing my account manger I would be making a withdrawal soon, he refused to answer my calls. After contacting their support number, i was told the reason was that i now have a new account manger Mark Spencer. Mark informed me that my account set up with a bonus, prevents me from making a withdrawal until a massive trading volume is achieved.

Mark offered 3 different options to consider where they would reduce the credit, and the wager against it, if I put in some money that would reduce the so called Bonus, or credit as they now call it. If i took one of these options they would allow me to withdraw a sum each month as required. He was very pushy about this, and now that i have decided to stay with the current setup he has gone sulky and says i am now on my own, despite being told that they would be on call to help when required.

My platform is what is known as Meta4. I can still make trades etc, and see my balance and margin. Does anyone think i would be wasting my time to attempt to achieve the trading volume PrimeCFD’s have put in place? Or is there a possibility that I could get my money once I achieve the trading volume?

I am thinking that i might be wasting my time, and have to accept this as the silliest thing i have ever done.

Any comments are welcome. I would love to know if anyone has had similar dealings with Primecfds, formally WMOptions.

18 Answers
Best Answer
Scam Trading Brokers Staff answered 2 years ago

At one point it said that they are licensed in Vanuatu, It would be interesting to know if their regulator can do anything to help you.   
 
It is always best to trade with a licensed Forex broker, so you don’t have issues. See here: https://scambroker.com/forex-broker-reviews/

Tibo answered 1 year ago

To be clear, so that you don’t loose your time. There is no office in the UK, and I doubt in Bulgaria, or Romania. There is no registration in Vanuala. This is all designed to waste your energy when you look for them. Bulgaria’s registry is in Cyrillic alphabet and you have to pay to access the Romanian registry. They’re recently changed their office on the website to TLC Consulting in Marshall Islands, which happens to be a real company…but who cares since in those places, chances are the CEO is probably a local office clerk who is CEO for hundreds of other shadow companies under one roof.
Most probably, they are based in Tel Aviv, Israel. If you want to read more about these scam brokers, visit “The times of Israel” and search “Binary options”. Brace yourself, you’re in for chocking revelations.
Kevon Mason, that has a message above, has since put some victims together, and has a lawyer in Tel Aviv. A friend of mine is a victim, and I registered with primecfds posing as a potential customer to get as much info as I could.

Gregory Gage answered 1 year ago

Oh dear, I have just deposited 300 eurns and they are due to call me tomorrow. How can I get my money back?

MIKE answered 1 year ago

I CAN ONLY REPEAT WHAT OTHERS HAVE SAID AND IT IS A SCAM, REALISED THAT TO LATE. THEY ASK FOR SENSITIVE INFO AFTER YOU HAVE JOINED, YOUR PASSPORT OR DRIVERS LISCENCE, A 3 MONTH UTILITY BILL, BACK AND FRONT OF YOUR CREDIT / DEBIT CARD USED, OH AND A CLEAR SIGNATURE.
NOW THATS WHAT I CALL VERY THOROUGH IDENTITY THEFT. DO THAT AND THERE WILL BE ANOTHER YOU WALKING AROUND VERY SOON.
THIS IS FOR MONEY LAUNDERYING PURPOSES THEY SAY AND UNTIL YOU EMAIL THEM THESE DETAILS THE MONEYYOU JUST DEPOSITED CANNOT BE ACCESSED, THE ACCOUNT FROZEN AND SO YOU CANNOT GET YOUR MONEY BACK OR CLOSE THE ACCOUNT. THEY GIVE YOU 5 DAYS AN IMMEDIATE THREAT.
THEY WILL CALL YOU ASAP ALMOST STRAIGHT AWAY, PLEASE DO NOT MAKE THE SAME MISTAKE I DID, AVOID THEM AT ALL COSTS. CONTACT YOUR BANK AND TRY TO GET THEM TO REVERSE THE TRANSACTION, IT TAKES TIME BUT CAN BE DONE.

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