Read our PrimeBTC review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a primebtc.io review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So PrimeBTC is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about PrimeBTC in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
PrimeBTC Review Conclusions
Making the PrimeBTC review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our PrimeBTC review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Do not even think to start with the primebtc.io
It’s the “famous” GOLDEN SKY CAPITAL under the new name !!!!
Be aware of those scambags !!!
Do not deposit and hang up on those sad / unloved / unhappy people with whatever names they acting under !
They have taken my hard earned money with such promises. I can’t withdraw a single penny although they say I’ve at least doubled my money. The account manager they put me with was abusive and foul mouthed when I said that I wished to cease trading. It’s a scam.
Yes , they are primexbt.com group , although I withdraw 200 out of the 250 that I deposited
i have deposited money with this guys and when its time to withdraw they are giving a run around which is mentioned on the review that is their tactic to delay for six months so that i can not do a charge and as you said now they using all my money so that there is nothing to requested. Thank you for the advise i will contact my bank for chargeback.
I’ve been scammed and need your help and support to bring these despicable people down once and for ever.
Many thanks.
Nigel Wootton.
Hi
I have always been curious about depositing £250 on companies that advertise on cryptocurrency trading.
About 2 weeks ago, I joined PrimeBTC. I did the initial deposit using credit card.
Sadly, I have paid in more since.
The incentives they use is that They give 100% bonus on your deposit .
On my £250 , they gave 50 making £300 altogether.
Very greedily, I have since paid in more to receive 100% bonus .
Although the second deposit was also through my bank , I had to use a link that was given to me to send in new deposit.
The link directs me to a place called thebitbank .
I key in the amount of money and the money had then been used to buy bitcoins. The bitcoins were then sent to PrimeBTC and they then put the value of the bitcoins I bought into my trading account.
From my PrimeBTC managed account , the total value as it stands now is almost 3 times more.
Going back to the link on thebitbank , I actually made a digital signature saying after purchasing the coins that I will not ask to have the money back .
All I wish is to get my capital back .
I want to remain friendly with them in order to get my capital back .
Hope this experience is a help to people .
Thank you!🙏
Why would they make you money if they were that good they would be making it for themselves with needing any of your funds unless they are scammers…so sorry for all who have been sucked into this by Parasites from primebtc-io-
these guys are scam scam scam
I put money because friend put money and his friend told he did and will get paid and their 6k turned into 80k, I was reluctant but believed friends so I put few thousand and wanted ro trade myself, they said it is managed account so I can open my own personal one and I foolishly did but I released that all is scam because zero spread and prices don’t match real prices so means they just invent stuff. so they then suspended my personal account said I was trading too much so need to pay commission so I said I will stop my account return what is left and they then never paid and used every excuse. then they took my money said bad practise against their rules and they just invent rules as they go about. then one guy who called himself Tony c Panagonis traded my managed account and when I asked I want to withdraw MY money said I can’t and I then said I am going to file reverse charge on 3k because I paid that by card, they took other money via coinbase stating easy now I know because you can’t put reverse charge which they are scared , then he lost all my money, and my friends 80k and other friend 90k which they allegedly build from 6k, and they lost their money by pretending trades losing money, where are before their fonny site was wining 90% of the trades and that Tony guy saying he is the best. now all 5 of us whom they ripped off have a mission to expose them so some people like us won’t lose their money beside these scum bags can be closed and put to jail
these guys are scam scam scam
I put money because friend put money and his friend told he did and will get paid and their 6k turned into 80k, I was reluctant but believed friends so I put few thousand and wanted ro trade myself, they said it is managed account so I can open my own personal one and I foolishly did but I released that all is scam because zero spread and prices don’t match real prices so means they just invent stuff. so they then suspended my personal account said I was trading too much so need to pay commission so I said I will stop my account return what is left and they then never paid and used every excuse. then they took my money said bad practise against their rules and they just invent rules as they go about. then one guy who called himself Tony c Panagonis traded my managed account and when I asked I want to withdraw MY money said I can’t and I then said I am going to file reverse charge on 3k because I paid that by card, they took other money via coinbase stating easy now I know because you can’t put reverse charge which they are scared , then he lost all my money, and my friends 80k and other friend 90k which they allegedly build from 6k, and they lost their money by pretending trades losing money, where are before their fony site was wining 90% of the trades and that Tony guy saying he is the best. now all 5 of us whom they ripped off have a mission to expose them so some people like us won’t lose their money
Hi, im Mike from Finland and Tony
Steel me 50k and that fucker call me after year that scum. He try get me 3k more, so he promise get my money back.
(1/5)
I’m yet another of their victims… lost EUR 250.00.
Can we get together and teach this guy a lesson? I’m sure we can locate him and beat him (I’m sure he’s already spent our money).
PrimeBTC is the biggest Scam going, PROMIS you everything and give you nothing but heartache, yes you will loose your money and all of it, I dealt with Tony Panagonis and he is leading the scam, then it cost you to get your money back, I feel like an idiot, don’t get involved