ANSWER Dear Investor,
According to its website, Primarkets claims to be based in the Netherlands. However, our verification with the Netherlands Authority for the Financial Markets (AFM) found no record of any entity matching Primarkets, indicating it is not authorized to provide financial services in the country.
Adding to this red flag, the UK’s Financial Conduct Authority (FCA) has issued an official warning against Primarkets, stating that the firm may be offering financial services or products without the necessary authorization in the United Kingdom.
In summary, Primarkets is not regulated by any credible financial authority, and multiple indicators point to deceptive practices. With no legal safeguards in place to protect client funds, engaging with this platform poses a high risk of fraud and capital loss.
We therefore assess Primarkets as a likely scam and strongly advise you to avoid any interaction or investment with this entity.
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