The very first thing that attracted us to PrimeOT trading company was the fact that they offer a proprietary trading platform to all their users. This is a great and innovative way to attract new clients, not to mention that it makes it a lot easier in terms of safety and efficiency. This offshore broker offers many innovative things and solutions for smart and cutting-edge brokers who wish to stay ahead of the competition. From 6 different account types to astonishing leverages and an improved platform, this trading company is a place to be when it comes to providing trading services.
PrimeOT is a company owned and operated by Cortofin Ltd. When we visited their webpage, we couldn’t find a lot of information about it except that it is a private company that is focusing its operations on business-related services. This is quite a broad range, to begin with, so we had our suspicious from the start. We also learned that the company is based in St. Vincent and Grenadines, which is a widely popular off-shore area. In other words, the companies who do not operate under a licence will most likely be registered in this part of the world. The trouble with this type of broker companies is that they can’t be held accountable for their actions, considering that there is no regulatory body who can provide a steady and productive industry regulatory frame or guidelines for them to follow. So, in this PrimeOT review, we will check out every part of this trading company and see if they are legit or not, aside from all these facts.
What Can You Trade with PrimeOT?
PrimeOT is a broker company which is best known for its wide range and selection of CFDs. CFDs are a type of tradeable assets that are becoming particularly appealing in the past couple of years. The investors from around the globe were quite hesitant at first when it came to trading them. However, it is only natural for people to be sceptical about new things, right? However, CFDs were able to prove their reliability and profitability, bringing in a huge number of clients and traders in the process.
The most appealing thing about CFDs is the fact that you are not obligated to own an underlying asset in order to trade with it. Rather, you are just speculating on its price. Will it go up or down? Or remain steady? This is something only you can decide on, based on many tools which you can find on the platform such as trading signals, analysis, trends and so on.
Aside from CFDs, we’ve noticed that this platform offers a lot of cryptocurrencies, which is surprising to us. Since, after all, this is another relatively new thing introduced on the global trading platforms. Digital currencies have their own unique ways of functioning, as well as being regulated. Because of all this, clients were hesitant to start trading them. However, the cryptocurrencies were able to stand the test of time and keep a solid ground on the market.
Is the PrimeOT Platform Secure?
This is the question that is on everyone’s minds, especially considering that this broker company is not even regulated. As the industry says, you can’t provide an MT4 or an MT5 platform is you do not own a proper licence. Instead, these kinds of companies provide their own proprietary platforms, which can be both good and a bad thing. Let us explain.
So, the PrimeOT proprietary platform has a lot of perks, such as fast loading times and a lot of accessibility. During your trading, you will feel as if you are in the middle of the action on the hectic market, with more excitement than you ever thought possible. Each tradeable asset is displayed on the list of assets which are divided into groups such as stocks, commodities, indices and more. Then, on the right, you can use a handy chart which is quite easy to understand, even if you are a first-timer. Namely, this chart is displaying the market performance of the asset in question in real time, which means that you won’t ever miss out on anything important during your trading.
However, we have to say that we did not see any two-factor authentication requests when logging into the platform, or other additional levels of security. This, however, comes with the territory of owning a proprietary platform, which you should keep in mind with off-shore broker companies.
PrimeOT Accounts Offered
As we mentioned already, PrimeOT team has made sure to include a wide selection of account types for all their clients. They are suitable for all users no matter what their preferences are, as well as trading background, budget and other features that come to mind. Let’s check them out.
The first account type we’ve encountered is called the Self-managed account, and it comes with a $250 minimum deposit requirement. The thing about this account package is that it does not offer much except for the full access to the trading platform. However, the next account type will take you much further, and it is called the Basic account. Don’t let the name fool you – since this account type comes with a $5.000 deposit and a whole lot of perks, such as additional education and trading material at your disposal.
Next, we have the Gold account with a $10.000 deposit. The leverage here is 1:300, which is quite high compared to the industry standard. This means that you will have to deal with a lot more risk than with other account types. Are you up for that kind of game?
The Platinum account comes with your own personal account manager who will guide you through the trading journey step by step. The Diamond account, however, takes you one step further with perks such as bonuses and other promotions to benefit your trading account. Lastly, there is also the VIP account which is invitation only. We weren’t able to find out much about it since their team is quite secretive about it.
PrimeOT Withdrawal and Funding Methods
If you wish to make a deposit or a withdrawal of money from your account, you can do so by using several payment options. They include the standard names in this area, such as the bank wire transfer, several e-wallets and majority of the credit cards. The waiting times are a bit different when it comes to funding and withdrawing your money, which is standard.
For example, all deposits are processed instantly, while the withdrawal requests have different waiting times. For e-wallets, you will only have to wait for a few seconds, while the bank wire transfers take a bit longer, around 3 business days.
Education Resources at PrimeOT
PrimeOT team has made sure to include many different educational tools and different signals for you to catch up with the latest movements on the market. These materials are quite useful for you if you wish to build a lasting and successful trading strategy. The first page we were redirected to is called How To Trade, and it explains the entire process step by step, which is quite encouraging.
Then, there is also a page that shows you how to trade CFDs, as well as presents useful strategies and tips on how to determine what type of trader are you. The entire educational section is quite useful and fun, not to mention easy to keep up with.
Customer Support at PrimeOT
There are several ways to contact the PrimeOT customer support team. The first one of the live chat option at the bottom of the home page. This one is definitely the most efficient since the agents are always available on the other line.
Then, you can also reach them on the telephone, which takes a while to connect with an agent. Lastly, there is the e-mail option too, as well as the filling out of the form on their webpage. For these 2 options, you will have to wait about 2 business days for a reply.
Is PrimeOT a Good Broker?
PrimeOT is definitely a broker company that has a lot of advantages to offer to its clients. From a wide selection of tradeable assets to the fast transaction times, this company aims to become your number one choice in trading. However, there are some downsides to it, too – such as the lack of regulation and licensing. This, then, affects other parts of their business, such as the trading platform and its reliability.
Overall, trading with PrimeOT can be both good and bad, depending on what your goals are. For example, if you wish to trade with high leverages that bring astounding payouts, you will have to accept the higher risks that come with this opportunity. But if you are ready to take on this experience, you will not be disappointed.