Premium Funds is already facing an uphill task trying to convince traders to sign up. Here’s our detailed premiumfunds.com review.
With the Financial Markets Authority already citing Premium Funds as a risk, no trader will join. Coupled with hundreds of negative reviews, the platform is likely going to shut down soon. Anonymity is another issue we have with the trading platform.
Our review of Premium Funds exposes the risks which drove FMA to issue a warning. Once a regulator issues a warning, such trading platforms rarely go for months before winding up. And premiumfunds.com is about to pull the rug on the project.
Here’s our candid PremiumFunds Review.
The platform has been targeting investors in Europe, Germany mostly. There have been a handful of traders who’ve lost their investment with the platform. It’s clear the platform doesn’t offer much in terms of authenticity and credibility.
With over 300+ trading instruments available, the platform offers 0.0 pips with claims of one-on-one personal trading guidance. The platform is fully going for newbie traders with claims of offering the lowest pricing.
The Premium Funds Address is 71-75 Shelton Street, Covent Garden, London, WC2H9JQ, United Kingdom. There are various deposit methods available including debit and credit cards. We however saw no crypto transaction wallets available for traders.
With little background and history, let’s dive into why the Financial Markets Authority went hard on the platform. You need to steer clear of this platform or risk losing your entire investment.
There are two account types available for standard and VIP traders. The platform separates newbie traders from the more experienced traders with information on minimum acceptable deposit remaining unknown.
It’s the most basic account with the platform already promising an account manager. The account offers trading platform introduction courses and risk management guidance strategies including basic market education.
For this account holders, you get everything available on the Bronze account. One of the additional features with this platform is personalized trading alerts. We still don’t have word on acceptable minimum deposit.
With the gold account, expect every feature available on the bronze and silver accounts. Additional features include risk free trades and practical guides trading sessions. Leverage and spreads is not available in terms of availability.
One of the more premier accounts or advanced tiers for beginner traders. You get all features from the first three account types. The only additional feature you get include eligibility for the premium funds managed account service.
It’s the advanced account tier for beginner traders under the standard plan. You get all features available on the platform plus a promise of getting higher leverage. Customer support is not available for the most premier account.
These are the two most advanced accounts on the platform with the broker claiming limited availability. The promising features found include a promise of earning high ROI. There’s also an account manager looking to take your trading to the next level.
The platform offers six assets available for trading. These include cryptocurrencies, energies, forex, indices, metals, and shares. There’s also the promise of having deep liquidity which we don’t see much.
Despite claiming to be an award-winning platform, there’s little information on who actually owns and runs the platform. There’s no award since the platform has already received a warning months after starting the project.
Members have been complaining right, left, and center regarding this platform. What we’ve got instead is a platform lacking in proper trading services. Just head over to TrustPilot and see the dismal rating premiumfunds.com faces.
Complaints ranging from poor customer support to outright withdrawal blockade are available. We don’t even see an attempt from the platform to address these complaints in a transparent manner.
One of the biggest setbacks to expect with Premium Funds is having no support. You’d expect a broker to offer live chat or even a phone number to make calls when facing distress. That’s not the case here.
The platform claims to have a 7-star customer care rating which is far from the truth. Email responses are days apart with what seems like a broker who doesn’t care about contact with traders.
Claims of offering newbies the best trading learning materials are false. The platform simply doesn’t have the right educational materials for newbies. It came as a shock when we saw the platform offering materials available on YouTube for free.
There’s also the question of the eligibility and professional capacity of these trainers. We don’t have much to go on however, there’s little to point to a well-organized educational resource from Premium funds.
Another rarity with this platform is the slow speed of trade execution. And with this feature, we see why traders are complaining of placing trades with the platform slow at executing them. We solely blame the available trading platform.
Advanced trading tools are not available to help traders make better decision. There are trading tools such as chart analysis that would help traders become better at what they offer. This is why you need to avoid investing with PremiumFunds.
Some of the more disturbing features with this platform are the fees and costs involved. Traders incur some of the highest fees when withdrawing funds we’ve ever seen. Even the commissions for the platform are way over the moon.
Instead of making profit, it appears Premium Funds is collecting nearly 10% of the total profit in commissions and fees. Coupling with withdrawal fees from FIAT platforms, it doesn’t make sense to trade with premiumfunds.com.
Premium Funds is facing a warning from Austrian Banking regulator. And this prompted the Financial Market Authority to issue a warning towards this platform. Please stay away from an unregulated trading platform.
The problem with such platforms is they tend to fail when it comes to following rules. Segregation of accounts is highly unlikely on this platform. And this is why we’ve got to expose the risks associated with the project.
Here’s the shocker of the day for traders who prefer to trade on the go. Premium Funds doesn’t cover mobile trading as investors have to be tied down to start trading with the platform. This is why you’ve got to steer clear from this project.
One would expect a broker to offer mobile trading capabilities to help with virtual trading. There’s limited trading with this platform seeing even the slow rate of execution speed. Today’s trader wants all access and has to trade with multiple devices.
The user interface sucks at best as the platform uses a custom-made trading terminal. Instead of offering investors with a legit and stable trading platform such as MT4 and MT5, traders get a poor interface.
Custom tools are not available with the platform not accepting trading robots. This means you can’t use your favorite EA when trading with premiumfunds1.com.
Your funds are NOT SAFE with a platform FACING REGULATORY WARNING from the Financial Markets Authority.
From what we’ve seen, we recommend staying away from premiumfunds.com.
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