Company Profile
Company Profile
Review summary
Note: Prince Markets' official website: https://princemarkets.com/# is currently inaccessible normally.
| Prince Markets Review Summary | |
| Founded | 2020 |
| Registered Country/Region | Seychelles |
| Regulation | Unregulated |
| Market Instruments | Cryptos, forex, indices, shares, commodities |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | / |
| Trading Platform | Proprietary Trading Platform (PTP) |
| Min Deposit | $100 |
| Customer Support | Contact form |
| Phone: +41 (44)26-242115 | |
| Email: support@princemarkets.com | |
Registered in Seychelles, Prince Markets is a forex broker through their trading platform. It offers live, demo and Islamic accounts. However, their license is empty and their website is not available.
Pros and Cons
| Pros | Cons |
| Diverse market instruments | Unregulated broker |
| Demo accounts available | No MT4 or MT5 |
| Multiple account types | No 24/7 customer service |
| No deposit fees |
Is Prince Markets Legit?
Prince Markets is an offshore, unregulated entity accessible via princemarkets.com. The company claims to possess two licenses. One is supposedly issued by the Financial Services Authority (FSA) of Seychelles, with the number SD037. The other is from the Cyprus Securities and Exchange Commission (CySEC), bearing the number 138/11. At first glance, this might appear legitimate.
However, the FSA license is entirely fabricated, and this particular number is frequently employed by other fraudulent companies. The FSA has even issued a warning on this matter. Furthermore, the Cypriot license actually belongs to a different firm, TopFX. Thus, the scam is unmasked.
What Can I Trade on Prince Markets?
In Prince Markets, you can trade cryptos, forex, indices, shares, and commodities.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Shares | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Prince Markets offers multiple account types.
| Account Type | Minimum Deposit | Execution Type | Swap Free | Standard Lot | Margin Call |
| Silver | $100 | Market Execution | No | 65 | 50% / 30% |
| Gold | $500 | 65 | |||
| Platinum | $5,000 | 100 | |||
| Palladium | $100 | 100 |
Leverage
Prince Markets offers different leverage ratios for each accounts: 1:500 for the Silver accounts, 1:400 for the Gold accounts, 1:300 for the Platinum accounts and 1:100 for the Palladium accounts.
Prince Markets Fees
In Prince Markets, they claim they do not charge commissions for their accounts.
Trading Platform
The Proprietary Trading Platform (PTP) by Prince Markets is a powerful multi-asset trading terminal that offers more than 200 trading instruments across six asset classes.
Deposit and Withdrawal
Prince Markets accepts Mastercard, Visa, Skrill, Neteller, Bank Transfer, Fasapay, Nganluong.vn, Dragonpay, ZOTAPAY, and Paytrust88. It does not impose any deposit fees.
Trung 7715
Vietnam
The scam exchange damage accounts, reduce fees and burn accounts. No withdrawal. Thanks for your help. ID 112678
Exposure
Nguyễn văn Tú
Vietnam
I opened a trading account with ID 220191 to trade on this exchange. After issuing a withdrawal order, the exchange does not return money to customers. Thank you for your intervention. Best regards
Exposure
Trung 7715
Vietnam
Prince Markets platform won't let me withdraw money, it's causing damage to my account! When I was entering an order, the bonus was automatically revoked without notice. But when they invited me to trade, they said the bonus would be used forever, so why is it being revoked now? This blatant fraud burned my account, while my orders were trending towards profit. Both intervened to burn the account and did not allow money to be withdrawn. If anyone has information or the office of this exchange, please let me know, and I'll take care of this. I hope everyone stays away from this platform.
Exposure
Nguyễn Thị Tâm
Vietnam
The above I sent related to the whole group of scams, this broker links insurance to scam offering large capital investment with insurance but it is not real and then refuses insurance because there is no level and no withdrawal, no one answered, contact the consultant, I burned my account after nearly 1 month from June 16, 2023 to July 12, 2023. Everyone should be careful.
Exposure