Eight Prime is not a legit broker and should be avoided at all events. Vewing its homepage, we found Eight Prime is completely anonymous and a risk to all. Why? Except its email information, the firm's contact information, including phone and address, is currently not available. Besides, there is no legal documents including “Terms and Conditions” or “Regulation” documents. In other words, it helps confirm the company is not a regulated broker because it does not list any regulatory certifications or governmental registration to prove so. As a trader, you have to know the basic: a company that offers financial services must give a detailed contact information including address, phone, and email, etc. Under these circumstances, you can't reach the firm's phone number, verify its locations, and can't confirm in any other way whether the broker is authorized to offer forex trading service or not, so that's most likely a fraud.
According to the information presented on its MT5 software, this broker is owned by Eight Prime Global Limited, a company located in the UK. However, we didn't find any information about its regulation from the UK's Financial Conduct Authority (FCA). So Eight Prime is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam.
We would recommend traders to stay away from unregulated brokers like Eight Prime and trade with licensed brokers.
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