Prime Markets - any views?

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Hoggums

Well-known member
Jan 24, 2006
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#2
If they are cold calling you then they are a boiler room outfit. FSA regulated firms are not allowed to do this.
 
May 30, 2011
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#4
No just cold calling me all the time
 
Jul 8, 2012
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#6
In our country primary share is allowed and i have some primary share and our share market just suddenly fallen down and i had a great loss there???
 
Aug 27, 2012
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#9
They canvassed me after I had requested some information. Established fund in March 2012. Have followed their advice. It's now August 2012 and have subsequently taken £25,000 down to under £13,000 !
Also tried a small amount with Galvan and they took £2,500 down to £100 in just a few weeks.
 

DT

Active member
Sep 17, 2003
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London
#10
It's an FSA regulated firm so definitely isn't a boiler room, looks like an introducing Broker to Saxo Bank from the images on their website.

FSA Register
There have been other dubious firms in the past that were also FSA registered and *not* boiler rooms.

Still following a sales approach that makes people think you are a boiler room does ring alarm bells. The whole idea of 'advisory CFDs' sems quite farcical. If you can make money taking directional positions with leveraged products then why on earth would you waste so much time chasing retail clients.

Forget making millions setting up as a CTA - instead employ sales staff and chase retail accounts....
Unless of course they're not actually profitable in which case chasing retail punters and selling an advisory service suddenly makes a lot of sense...
 

DT

Active member
Sep 17, 2003
312
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London
#11
Interesting - out of 9 staff currently active on the FSA register 4 of them previously worked for blue index:

Luke Dods:
CF30 Customer Blue Index Limited 22/01/2008 27/05/2009

Richard Charles Curr:
CF22 Investment Adviser (Trainee) Blue Index Limited 12/01/2005 01/09/2006
CF21 Investment Adviser Blue Index Limited 01/09/2006 31/10/2007
CF30 Customer Blue Index Limited 01/11/2007 14/07/2009

Henry Austin Courtney:
CF30 Customer Blue Index Limited 23/10/2008 14/07/2009

Richard John Clegg:
CF30 Customer Blue Index Limited 23/05/2008 14/07/2009


here is an interesting article detailing the experiences of a blue index customer:

Beware of Rogue Advisory Brokers

tis also interesting to note that blue index is no longer operating and one of its co-founders (the James Sanders mentioned in that article) was given a 4 year prison sentence for insider dealing.....
 
Sep 11, 2006
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#12
Interesting article, the Senior Trader by the name of Greg White is 1 of 64 staff that has been registered with Blue Index according to the FSA Register Even more interesting is that he is now a Director of Accendo Markets Ltd which has a total of 12 staff on the register, 6 of whom including all 3 directors are ex Blue Index!

Lets hope the clients he advises at Accendo are more successful than Dave!!
 
Jan 3, 2013
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#13
Hi and Happy New Year to everyone.I would like to add to this thread about Prime Markets from my very costly personal experience.Almost a year ago I have been cold called by Prime Markets Derivative Sales Jonathan Roy who in very friendly and professional manner introduced Prime Markets services.After I have refused to sigh for their services he continued to bombard me with friendly phone calls and eventually persuaded me to transfer £45000 in to theirs Saxo bank trading account.
Soon after I was introduced to the Henri Courtney-Derivative Broker.
Since when I living in a worst nightmare.In the fist two weeks he managed to loose near to £10000 of my money and when I called them to close all running positions they explained that they had have a bad patch which is very unusual and that they can easily make it back and that customer satisfaction is there's top priority.
So I have been brainwashed once again and decided to give them another chance hopping that professionals working in this industry know what they are doing and will do their best to improve my account.
The only professionalism I have seen from Henri Courtney was how to open as many trades a day so they could collect large sums in commissions. Now almost one year later I have paid over £45000 in commissions and my balance is £3500!!!I wish it was a typo but it is just £3500.I have paid to Prime Markets CFD brokers over £45000 to date in fees and commissions they in return they carelessly loost me £41500 through bad advise and poor risk management.
I'm writing this warning alert to anyone considering to trust your hard earned money to Prime Markets CFD broker. Please do not repeat my mistake and do not believe a word they say .They do not care if you make or loose a trade as they are the winners anyway.Prime Markets CFD brokers only care about their profit and have no financial or moral responsibility over the advise they given to you.I know that I have lost my money forever and it is nothing I can do about it.But you still can.Keep away fro Prime Markets CFD Broker.
This is my bitter experience and to prove my genuine intentions I'm willing to send my Saxo Bank Prime CFD last years trading statement to anyone interested in Prime Markets trading style, just pm me. I do hope this will help to make your mind up as if it would keep me away from them if I would read it one year ago.
 
Mar 28, 2014
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#14
I have lost money following the investment advice provided by both Prime Wealth Group (formerly Prime Markets) and Central Markets, and I have to say that I urge anyone considering using either of these firms to think carefully before doing so, their only interest was the commission that they earned from the trades that they suggested on my CFD trading accounts.

My advice is stay well clear