Clientele Feedback: What are Investors' Opinions of Charterprime?

While there is an abundance of online forex and CFD brokers in the market, you can't trust everyone. Picking the authentic one for your investment is the hardest part, but things become easy with some guidance beforehand. Today we discuss how to avoid signing up with a suspicious broker like Charterprime. 

Charterprime - A Quick Overview

Charterprime (https://www.charterprime.com/) is an offshore brokerage firm registered in St. Vincent and Grenadines. The company claims to be serving around for almost a decade. While the available financial markets include forex, metals, commodities, and indices, clients only have an MT4 trading platform at their disposal. However, the broker also advertises account management services through PAMM accounts. Besides conventional types of accounts, there is an option for signing up for a swap-free account for shariah practicing traders. Multiple payment methods and VPS hosting also make part of the broker's offerings.   

Is Charterprime Regulated?

First, Charterprime used to be registered in St. Vincent and the Grenadines but the registration has been annulled. In addition, Charterprime holds a license issued by ASIC, while please be informed that the broker is authorized to conduct forex activities only in Australia.

Clientele Feedback 

Charterprime holds poor clientele feedback. Most clients seemed to have faced withdrawal issues with the broker besides experiencing poor trade execution and wide spread charges. Investors also complained about not being able to connect with the company to resolve their queries. Let us share some screenshots below. 

What Makes Charterprime a Suspicious Broker?

First, the broker has an ASIC license while not authorized to provide financial services outside Australia. However, it has been warned by the Romanian Financial Supervisory Authority also known as ASF, for providing trading services without authorization. 

Additionally, its registration with SVG FSA is not active now while the company still claims that it is holding the registration.

At last, the broker is accused of withholding clients' funds for no reason. According to the clients, the company first delays withdrawal requests by making lame excuses and then blocks access to your account.

How to Avoid Signing up with Suspicious Brokers like Charterprime?

Checking a broker's regulation and reputation are the most crucial factors in determining a broker's legitimacy. Make sure to cross-check a broker's regulations status with the concerned regulatory authority. Reading clients' feedback on reviewers' websites like BrokersView can also help you avoid signing up with a suspicious broker. 

You might also want to compare your broker's pricing structure to assess if it matches the average industry standards. Going through available trading platforms and connecting with a broker's customer support can also aid your decision-making process. 

Bottom Line

Though regulated by ASIC, the countless bad reviews and the warning from Romania make Charterprime hard to gain the trust of traders. It is recommended that you think carefully before trading with this broker.

If you have any troubles with a broker, you can contact Service@BrokersView.com.