Premium Brokers Review: Thepremiumbrokers.com Scam

Premium Brokers (Thepremiumbrokers.com) is another rotten CFDs and Forex scam platform targeting unsuspecting investors. PremiumBrokers is purporting to offer an advanced trading platform with real-time quotes. With members already complaining of mismanaged funds, we had to conduct an investigation. As it turns out, this is another crude online investment platform out to rip off investors. Want to know more? Read this genuine and honest PREMIUM BROKERS Review for more details.

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Premium Brokers Review

After receiving numerous email complaints, we knew trouble was brewing with this platform. How can over ten members be complaining of the same issue? Premium Brokers is being accused of refusing to allow members to withdraw funds. Janet had invested over $16,000 with this platform hoping to make reasonable profit margins. After a few trades, she decided to withdraw the initial deposit and continue trading with the profits made. When she sent a withdrawal request, she expected it to be quick; it has now been two months.

Scam artists will do anything to trap unsuspecting investors into signing up with their bogus platforms. This includes creating a cloned trading website and fooling investors into depositing funds with them. Scam artists also hire call agents to act as professional brokers. Call agents will harass investors and ask for more deposits. Janet has been receiving such calls urging her to deposit more funds in order to withdraw her initial balance. Would you be willing to deposit more funds?

About Premium Brokers

Premium Solutions Ltd is the company listed as the owner of this website. We searched on various company registrars and could not find any company listed under this name. Disclaimer at the footer of their homepage also shows the website is based in the Marshall Islands. By their own admission, they openly reveal that Premium Brokers is offshore based. Offshore brokers are never to be trusted as they hide behind anonymity. PremiumBrokers is another offshore based online investment scam platform.

Anonymity is a scammer’s best friend as it allows them to hide behind the unknown veil. Scam artists will steal from investors knowing it is hard to track them down. Who are the actual owners of this platform? Can we get to know the name of the founding members of this platform? It is best to stay away from these illicit platforms and choose recommended brokers. With an anonymous platform, it becomes hard to track down the funds. Security of funds is never guaranteed by anonymous and offshore brokers.

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Is Premium Broker licensed or registered?

Evidence clearly shows we are dealing with a rogue online trading platform. Scam artists have gone a step further and posted fake random numbers as their license details. Premium Systems Ltd is using a number which is used by almost every scam platform in the Marshall Islands. Investors are asked to be wary of any platform with the license number MH96960. We checked with various online regulatory bodies to confirm any license of this platform. No results were ever found.

After contacting ASIC, CONSOB, CySEC, FCA, NFA, and SEC no evidence of licensing was found. Why has the platform failed to post any copies of certification to back up their license number? With a copy of their license number, one can easily verify the license details of this platform. Since no regulatory body has come out and backed this platform, it is safe to state this is a scam. Whoever signs up with this illicit platform should expect nothing but a shoddy trading experience.

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Advantages of Premium Brokers

We searched for any advantage of trading with this platform but could not come out with a proper answer. Premium Brokers is anonymous and lacks a valid trading license. Funds are not secure since the platform does not insure funds. Investors should not expect any compensation since the platform does not participate in a compensatory scheme. Make sure to stay away from this illicit trading platform.

Disadvantages of Premium Brokers

Accounts Offered

Premium Brokers is furnishing users with three types of trading accounts. Accounts are Basic, Gold, and Platinum. The problem with these accounts is there is no information regarding their features. Their entire website lacks any information regarding the minimum acceptable deposit with each account. Another disturbing feature with these account types is no information regarding the leverage and spreads available. Scam artists want users to sign up not knowing the account features.

Demo Account

Another shocking discovery with this platform is having a rigged demo account. Premium Brokers is rigging their demo account to produce insane results. Investors who choose to start with a demo account get to make over 98% success trades. Remember a demo account users virtual funds which is not real. Scam artists want users to get the idea they can mirror the same results with a real account.

Deposit and withdrawal

Users have the option of funding accounts using various deposit and methods. Depositing can be done using bank transfer and credit/debit cards. What we have an issue with this method is lack of a proper encryption transaction process. Another problem with this platform is lack of withdrawals. Most members are having the withdrawal issue which makes trading with PremiumBrokers risky.

Unresponsive Customer Support

You would expect a broker to have live customer support with today’s modern technology. Premium Brokers is solely relying on email communication which is one way. With members sending withdrawal requests using emails, scam artists decide to ignore them. If you send an email asking about how much to deposit, you get a quick response. With this, we have proof these scam artist are choosing which emails to respond to. Best you stay away from this platform at once.

Are funds safe with Premium Brokers?

How can funds be safe with a platform which lacks proper regulation? Anonymous online trading platforms are a problem when it comes to withdrawing. Segregation of accounts is also a huge issue as Premium Brokers is pooling funds in one account. What this means is users are depositing funds straight to owner’s personal bank account. With this in mind, you should know these scam artists will shut down the website at will. In most cases, they will close down once they have their feel of become exposed.

Is Premium Brokers a Scam?

Evidence clearly point to this illicit trading website to being a total scam. Investors are asked to stay away since it is clear Premium Brokers is a scam. Make sure to stay away from this website as your personal information is at risk. We believe this platform is selling personal information to third parties. Stay away from this platform and ignore any attempts to sign up.

Final thought

We will be adding this platform to our scam blacklist to safeguard our members. Make sure to warn your family and friends from joining this platform. Ensure you stay safe and use only recommended products.

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Wishing all investors a happy and prosperous trading experience.