Who are Prestige Financial Markets, friends or scammers?

This forex and CFD broker dates back to 2016. The company belongs to Media Options LTD with their address in Gheo Milev, Svetlostrui, the no. 9, Sofia, Bulgaria.

PrestigeFM proposes a wide array of financial instruments to their customers and a broad range of options. One can start with minimum $250.

It’s worth to mention, there were some problems with the Cyprus Securities and Exchange Commission that forced the brokerage to reduce the list of provided services to Forex and CFDs trading instead of a number of financial tools available at the beginning. Now PrestigeFM seems to be controlled by the Republic of Vanuatu Dealers, but this fact is not approved.

Payment methods

The good news is to invest and pull out funds we have broad variants of various bank cards, comprising VISA, Mastercard, Maestro and some electronic wallets. In addition, a bank wire is accepted, but notice that there is no choice for cryptocurrency payments like Bitcoin, Ethereum, LiteCoin. Online payments are processed within 5 working days.

Good trading platform

The platform of the broker is quite illustrative and attractive, also it has a habitual layout of elements but for an experienced trader, this a network platform will look frankly quite simplified. Only four market indexes on the chart is so poor. The system is supported by so-called TradeSmarter software with many assets that include over typical 90 financial tools such as currency pairs, stocks and pair options. It was a disappointment to learn that there is no function automatization for your trade – a broker standard since the MetaTrader4 platform originated in 2005.

High minimum investment

Comparing with different brokers in the market it is seen how PrestigeFM upped their deposit requirements. For instance, to start a Bronze account here you should invest 500 EUR, while most brokers ask for approximately 100 USD. And with their famous market competitors like FXTM or IG you could open an account having only 5 American dollars.

Just for your information, a Silver Account of PrestigeFM is estimated at 5000 EUR, a Gold Account costs 10 000 EUR, a Titanium Account valued at 25 000 EUR, VIP – 50 000 EUR, Premium Platinum – 100 000 EUR, what, experts say, is too high.

Customer support

If something wrong happened a customer can contact a company’s representative via Skype, telephone and email. Unfortunately, it’s been reported that these representatives are slow to respond or their response is not very helpful. Some say that they rather seem to be assertive or even aggressive. The plus is that the brokerage support is available for both the English and German speakers.

Final Word

PrestigeFM is about good leverage system and meagre trading conditions. Mostly we all should concern of shortage of regulation. Customer service has room for improvement and minimum deposit requirements are fabulously large. You should remember that investing with an unregulated broker and high-risk stand beside.

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