Having the right broker is crucial to making profitable trades in the financial markets. Premium Finance Solutions provides intermediary services and claims to offer the most favorable terms of service. However, based on customer reviews, the organization seems to be failing to fulfill its obligations. Newcomers are being scammed by fraudsters who take their money and then block their accounts.
The company was incorporated on July 27, 2022, in Great Britain, but it is not licensed for financial regulation. It does not support ECN/STP accounts, and its official website domain is https://premiumfinancesolutionsltd.com. Stablereviews warns that while the firm is new to the Russian market, it has already earned a very dubious reputation. Clients complain about systematic cashout problems, and the company is operating illegally. The scammers even tried to falsify legal documents, but a thorough investigation revealed their manipulation.
Reviews about the broker Premium Finance Limited
The fraudsters were quite efficient in collaborating with review platforms, purchasing numerous positive reviews and flattering remarks. Nevertheless, their fake feedback can be effortlessly discerned from the genuine ones, as the fabricated comments usually lack specific details.
The individuals who wrote the comments depicted in the screenshot appeared to have no issues with their collaboration with the broker. They outlined a range of benefits, including favorable conditions, prompt execution of orders, educational resources, assistance from managers, and a reliable platform. However, these benefits are typical features of fraudulent schemes. Scammers may not even have a platform, but instead fabricate false profits in their clients’ accounts.
The glowing reviews of Premium Finance Solutions Limited are filled with manipulative information, including false claims of being licensed and registered in Great Britain, which we have previously exposed as fraudulent. In contrast, negative user comments provide more detailed and reasoned feedback, with examples of customer support managers’ outright rudeness and traders’ experiences of quote mismatches. These are clear warning signs that cooperation with this company should be avoided.
The glowing reviews of Premium Finance Solutions Limited are filled with manipulative information, including false claims of being licensed and registered in Great Britain, which we have previously exposed as fraudulent. In contrast, negative user comments provide more detailed and reasoned feedback, with examples of customer support managers’ outright rudeness and traders’ experiences of quote mismatches. These are clear warning signs that cooperation with this company should be avoided.
Technical analysis website- premium finance solutions ltd
Premium Finance Solutions Limited offers support in two languages, English and Russian. The website has a simple layout and is easy to navigate, but it appears to be a standard one-page website created with a free website builder. The content lacks details necessary for an objective assessment of the company, such as a roadmap or history of development.
Communication with customer support is only available through a one-way format, and scammers tend to ignore all inquiries related to money withdrawal. Customers can reach out to managers via a hotline, email address, or feedback form, but support is not provided through social networks or instant messaging. The company does not specify its support hours, and according to reviews, it can take several days to receive a response.
Verification of legal documents Premium Finance Solutions
Premiumfinancesolutionsltd.com lacks scanned copies of financial regulatory licenses and incorporation certificates. This is further evidence that the broker is illegally serving investors. The website footer claims that the company is registered in the UK and provides a certificate number. However, the scammers have stolen documents from an unrelated company, and this certificate has been used by many other suspected forex frauds. Additionally, registration in a reputable jurisdiction is insufficient for legal operations; obtaining permits from a reputable auditor is necessary.
Premium Finance Solutions LTD does not offer any security guarantees to Russian traders. In order to legally operate in Russia, brokers must comply with the provisions of Federal Law No. 460, which regulates the servicing of investors trading in financial markets. To work legally in Russia, every broker must register in the Unified State Register of Legal Entities, apply for membership in the relevant self-regulatory organization, and obtain a license from the Central Bank. However, Premium Finance Solutions LTD has not done any of these, which means that clients’ investments are at a high risk.
Terms of trading – Premium Finance Solutions
The company is actively seeking to expand its customer base through the use of purchased positive reviews and exaggeratedly favourable terms of cooperation. One such incentive is the welcome bonus of 50% of the deposit offered to each new client, as well as the variety of financial assets available for trading, including currency pairs, metals, cryptocurrencies, energy resources, stock indices, and stocks. Transactions are executed via CFD contracts.
However, the platform does not offer a demo account to allow for testing the terminal, and clients are required to trade with real money from the start. The broker’s terms of cooperation include a minimum entry threshold of 1000 euros, spreads starting from 0.4 points, and leverage up to 1:500. Some trading accounts offer additional benefits such as zero commissions, trading signals, account manager assistance, and free analytics.
How Premium Finance Solutions scams?
The crucial role of call-center managers is highlighted in attracting new clients, as they possess exceptional skills in applying psychological tactics to unsuspecting traders. These tactics are meticulously planned to create the illusion of a trustworthy broker, leading inexperienced investors to believe that they have made a reliable choice.
Premium Finance Solutions employs deceptive practices to convince clients that they are engaged in profitable trading, with all transactions appearing to be closed on a positive note. However, this is merely a ploy to obtain additional funds from their targets. If a customer tries to withdraw any profits, they will be required to pay fees and taxes. Unfortunately, even after fulfilling these obligations, the customer will not receive the promised returns.
Eventually, the collaboration between the client and the company will be terminated, and the account will be blocked. In such instances, the support team fails to explain why this decision has been taken. In some cases, the fraudsters allege that the client has breached the terms and conditions of the user agreement.
Conclusion
The broker’s vulnerability lies in the fraudulent scheme of extorting money from its clients. The scammers lure in unsuspecting investors with the promise of high returns but fail to deliver on their commitments. Consequently, gullible newcomers fall prey to this scam and end up having their accounts blocked without any justification. Premium Finance Solutions is an untrustworthy forex operation that operates like a low-end kitchen.
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