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Anmeldungsdatum: 12.04.2022
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 Verfasst am: 04. Feb 2023 04:51 Titel: Loyal Primus Review 5 things you should know |
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Loyal Primus Review 5 things you should know
Loyal Primus is just another offshore broker that asks you to invest money with them without providing no proof that they are a safe and reliable trading option. Even though this broker asks for a very small amount of money in order to open an account for you and allows you to trade on one of the best trading platforms out there, we still do not believe that they are an option worth considering. This is most probably a scam scheme if you deposit money with them, the chances of you getting scammed are huge.To get more news about loyal primus review, you can visit wikifx.com official website.
Loyal Primus is registered in scammers favorite location St. Vincent and the Grenadines. The financial authority of this country has issued multiple statements warning investors that it does not regulate forex brokers and does not impose any specific laws in the sphere of forex trading. Everything a broker has to do in order to start offering services is to set up a company which is very easy to do. They would not have to answer to any regulatory body after that, meet requirements, or report transactions. All of this is fairly convenient if you are a scam broker looking to rob people without getting detected or prosecuted.
Instead of putting your money in the hands of shady enterprises, turn to a reliable, regulated broker those licensed in the UK, the EU, or Australia are by far the best possible choice. These brokers answer to some of the strictest financial authorities in the world and are obligated to report to them regularly to ensure transparency and prove that everything is done completely legally. In order to prove their financial stability, companies who want to act as brokers have to maintain a minimum capital of 730 000 in the UK and the EU, and of A$1 million in Australia. Negative balance protection is one mandatory protection you will be benefiting from if you chose such a broker you could never suffer losses exceeding the amount of money you have in your account. Client money must be kept in segregated bank accounts which means that the broker would have very limited access to your money once you have deposited it and would not be able to use it for their own purposes, knowingly or unknowingly. It also speeds up withdrawals and keeps your investment safe in case your broker goes bankrupt however unlikely that might be. If you are a client of an EU or UK broker, you could also receive compensation in case your broker goes bankrupt up to 85 000 in the UK and 20 000 in the EU because all such brokers are obligated to provide funds for compensation funds.
However, the offer of this amazing trading platform gives you no reason to choose a shady broker there are plenty of great brokers who offer MT4. The platform is beloved by many traders for its relative accessibility and high level of efficiency not only would you get access to a huge number of charting and analysis tools but you would also be able to use tools like Expert Advisors that track markets and trade automatically, a Strategy Tester, a market for additional trading apps, etc. You would also be able to set signals for prices going up or down or to subscribe to those set by others.
Loyal Primus asks for a tidy minimum deposit $10 in order to let you start trading. This makes the broker one of the more affordable out there. However, their affordability is not reason enough to put your trust in them. There are plenty of very legitimate brokers that also offer Micro accounts.
Loyal Primus offers sensationally high leverage up to 1:1000. Trading with such high rates could prove to be extremely dangerous. Such scammers often emphasize on the huge profits trading with high leverage could result in. But they often forget to mention that you might also end up losing a similarly high amount of money. That is why caution is key here always be careful with your leverage settings and trade with reasonable leverage that matches your experience level.
The spreads we got on Loyal Primuss terminal were great 0.2 pips on EURUSD. However, the broker has promised very different rates on the website 1.5 pips. This is generally an okay rate but no legitimate broker would allow such a huge inconsistency. We only opened a demo account we suspect that the spreads on the live one will be much higher. Always be cautious when dealing with such brokers or you might end up paying a huge amount of money just to be able to trade.
Loyal Primus accepts deposit made via wire transfer, in Bitcoin, Ethereum or Tether or via some region specific online payment solutions PayTrust88, SurePay, etc. We would not advise you to deposit with this broker as it has become clear, they are less than reliable. And if you have already deposited, the situation is not good retrieving your money would probably be impossible. Wire transfers and crypto transactions are irreversible so you would not be able to ask for chargeback if you have used one of these payment solution. The safest option would be not to deposit with Loyal Primus (and similarly shady brokers) in the first place. |
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