Abstract：Did you find trading with 1Prime options fraudulent? Were your funds scammed while trading on the broker’s platform? Did you witness unfair spreads and non-transparent fees on the platform? Was your forex trading account blocked by the broker despite successful verification? These are some issues that make the traders’ experience not-so memorable. In this 1Prime options review article, we have investigated the broker in light of several complaints. Keep reading!
Did you find trading with 1Prime options fraudulent? Were your funds scammed while trading on the broker‘s platform? Did you witness unfair spreads and non-transparent fees on the platform? Was your forex trading account blocked by the broker despite successful verification? These are some issues that make the traders’ experience not-so memorable. In this 1Prime options review article, we have investigated the broker in light of several complaints. Keep reading!
1Prime options Details - Trading Instruments & Account Types
As per the information available on its official website, 1Prime options was founded in 2020, with its initial traders being Latin Americans. It offers a host of brokerage products, including forex, stocks, indices, commodities and cryptocurrencies. It offers two accounts - Demo and Standard. It entices traders with a free offering of 10,000 USD to trade on a Demo account and promises an earning of up to 80% on the Standard account. Promising a return figure in trading products, which usually fluctuate, seems a deliberate tactic from 1Prime options to attract clients.
Investigating the Top Forex Trading Complaints Against 1Prime options
Fund Scam Allegations Against 1Prime options
Multiple traders have accused 1Prime options of scamming them with fake promises. By luring traders into investing, the broker accumulates a significant fund base and allegedly decides to scam them. Here are two 1Prime options reviews that hint at this crucial issue.
The Account Block Claim
While searching for forex trading complaints against 1Prime options, we came across a complaint involving a fund amount of over $60,000. A trader from Japan highlighted this issue, where the broker blocked his trading account despite a successful verification. Disappointed by being unable to withdraw funds because of an account block, the trader shared this negative review of 1Prime options.
A Trial Case That Went Horribly Wrong for the Trader
A trader from Uganda, with a view to testing the legitimacy of this Marshall Islands-based forex broker, loaded funds into his trading account. Little did he know about the fund scam that happened afterward. Elaborating on the complaint, the trader highlighted that the source, which was used to load capital, asked for verification when he sought withdrawals. While the trader admitted having provided the details sought for this purpose, there was allegedly no response from 1Prime options on this for months. Have a look.
Withdrawal Delays, Bonus Issues & Account Verification Problems
A client claimed that the broker failed to provide promised bonuses, manipulated prices, and repeatedly rejected withdrawal requests by resetting account verification. The user also alleged that BTC withdrawals were removed when Bitcoin prices surged. Despite contacting customer support, the account remained unverified, leading the trader to question the brokers credibility and warn others to test withdrawals themselves. Read this screenshot where the trader criticized the broker on these issues.
Another Trade Manipulation Instance
A US-based trader highlighted severe trading glitches at 1Prime options. These included spread manipulation and no transparent policy on fees. Bothered by these, the trader penned down a negative 1Prime options review. Read it below.
1Prime options Review by WikiFX: Is It Real or Fake?
In light of the serious complaints against 1Prime options, it was important to carefully examine its regulatory status. As the WikiFX team started investigating, it expectedly found no license for the broker, lending credence to the multiple allegations against the broker. With no license, you, as a trader, can never be assured of your investment safety. Considering this, the WikiFX team gave it a score of just 1.52 out of 10.
Make it a point to check the brokers regulatory status and other details on WikiFX, a trusted forex broker regulation inquiry app.
