Broker Review

Unauthorised Firm Details

Name: PrimeBit
Website: primebit.org

PrimeBit Review – Risky Broker / Potential Scam

PrimeBit claims to be a financial/investment platform offering crypto trading, stocks & shares, CFDs, leverage, and various investment “plans” with high returns. Their site features investment tiers (Beginner, Gold, Diamond, VIP), claims of fast profits over short durations, bonus/referral incentives, etc.

However, multiple red flags strongly suggest high risk:

• Extremely low trust score: Independent site reviews assign PrimeBit a low safety/trust rating (around 23.6/100), labeling it “suspicious,” “unsafe,” and “doubtful.”

• Regulatory warnings: Authorities in certain countries (e.g., Spain) have publicly warned that PrimeBit is unauthorized to operate. Platforms like FinTelegram also list it among brokers with black-compliance concerns.

• User complaints: On review sites like Trustpilot, many users report blocked withdrawals (especially profits), unexpected additional deposit/“unlocking” fees before funds can be released, and account bans without clear reasoning. Some report losing significant sums.

• Opaque documentation / contact info: Vital legal or licensing documents are missing or not verifiable. Contact details are often vague or only via registration/after login.

• Promised returns that appear too good to be true: Investment plans claim very high profits in very short timeframes, such as 20–75% profit in 24-48 hours depending on plan. Such returns are rare and often signaling risk.

• Leverage & crypto-only deposits: The platform reportedly uses high leverage (up to ~1:200), and many reports mention deposits only via cryptocurrencies, which makes tracking and regulation harder.

Bottom line: PrimeBit shows strong indicators of being a high-risk or potentially fraudulent broker rather than a safe, regulated trading service. Investors should treat it with extreme caution, avoid large deposits, test withdrawals early, and document all interactions in case recovery becomes needed.