Prime Coins Trading (primecoinstrading.com) is an automated investment platform which claims to generate returns of up to 10% weekly. This platform has succeeded in scamming a lot of traders and currently even the FCA has issued a warning about this phony platform.
If you are an experienced investor, you can easily see through the cock and bull story illustrated on their website. These faceless scammers are literally filling their pockets from the deposits made by the investors.
Read our full PrimeCoinsTrading review to find out why we recommend all our readers to stay away from this scam.
Prime Coins Trading company and contact Details
The CEO of this firm is an entity known as Uman Uygoff who is supposedly from Kansas city, USA. We were unable to find any information about him on the internet except on their website which makes us believe that he is a fictitious entity. The image used is probably a stock photo purchased or stolen from another website.
Investment firms which raise money from the general public for investment and allied activities are required to be regulated in order for them to operate lawfully.
Prime Coins trading company limited has never been licensed by the FCA (on the contrary, a warning was issued again them), which means they have no right to raise money from investors and are operating against the law knowingly.
The support team of this firm can be reached through
Email – [email protected]
Telephone – +44 1242650085 and +44 2033896339
Which assets are traded by Prime Coins Trading?
This firm states that it is actively trading oil, gold and cryptocurrencies.
We believe, this is just an attempt to lure in all types of investors.
There is no verifiable trading history of this firm to prove that they are profitable across all the portfolios.
Prime Coins Trading does not mention anything about what conditions are considered before entering a position. We are not told the risk management methods it employs. There is no type of assurance about the reliability of their trading algorithm.
We are only told that the funds are handled by a team of professional traders who make use of advanced software, machinery and innovations to take informed decisions while minimizing the risks involved.
After looking at all the information, the basic question of how the funds are handled was never answered. The above explanation is insufficient.
Question marks and Red Flags
Security is an important aspect when it comes to investing online. Despite all the alleged claims by this firm, their website does not have a SSL certificate which means any information you share with have a very high chance of being misused. Seems like these alleged investment experts could not afford a basic SSL Certificate or maybe they simply do not care about the privacy of their clients.
And in case if you were wondering they don’t have DDoS protection also.
This platform does not have third party verifiable record of their trading operation and they do not feature a demo account. How can they expect the investors to trust this platform without seeing any proof of how efficient they are?
What kind of returns can you expect to make with Prime Coins trading?
As stated above, this platform boasts of generating returns of up to 10% weekly.
There are 3 investment plans to choose from
The Savings Plan starts at $500 and allegedly yields 6% ROI weekly.
The Professional Plan starts at $50,000 for a 8.5% weekly yield.
The Administrative Plan starts at $500,000 and has a 10% weekly returns.
If anyone opts in for the administrative plan, they can earn a passive income of $50,000 weekly sounds like a dream, right?
Deposit and Withdrawals
The deposit and withdrawal methods supported by this platform are Bitcoin and Ethereum.
The site does not specify the amount of time require to process withdrawals.
In order to reach maximum number of people and grow their revenue, this firm encourages their current users to bring in more people on to their platform.
Anyone promoting this platform are given a flat 10% of the deposits made by their referrals.
Note that the affiliate does not have to be an active investor in order to get their commissions.
Is Prime Coins Trading a scam?
There is no platform or software which can generate the type of returns advertised by this fraudulent platform.
Prime Coins Trading is just a ponzi scheme, which will eventually run away with your money.
You might have received one or two payments from them, but understand the fact that the money is not generated through trading, it is taken from the deposits made by new investors.
Prime Coins Trading Conclusions
The two powerful instincts every person has are greed and fear.
Never buy into rich quick schemes offered by the phony sites similar to this one.
Have you been scammed by PrimeCoinsTrading? Share your story by commenting below this review.
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