Premium Brokers Review (2023)

Is Premium Brokers a scam or legit broker?

No, it is not safe to trade with Premium Brokers, as it is an offshore company. This broker is owned and operated by Premium Solutions Ltd, Incorporation number 101925, The Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands.

Premium Brokers is an international brokerage company that offers multi-asset trading to its customers and also advanced information technologies, software products for business, and various financial instruments. The broker also offers such benefits as low market spreads (Find the best forex broker with the lowest spreads, also find 0 spread brokers by link), absence of re-quotes, transparent deals and innovative trading technologies. 

In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors’ investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

In addition, Premium Brokers has been blacklisted by the Spanish regulator CNMV:

“Premium Brokers is not authorised to provide the investment services, which include investment advice, nor to provide the auxiliary in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As Premium Brokers got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.

Conclusion

We strongly advise all investors and traders to avoid Premium Brokers and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and eToro.

You can also share your trading experience with Premium Brokers by commenting on this review.

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