Prime Advantage Review – Scam or Legit?

Prime Advantage is an online auto trading platform that states it can aid users to automatically trade stocks and cryptocurrencies with their proprietary algorithmic trading program. The platform claims to be a secure trading medium with top-class encryption and data privacy.

This Prime Advantage review discusses the platform’s key features, fees, and its other aspects to see if it is the right platform for you.

Prime Advantage Summary

Here is a table that summarizes the platform’s most prominent features which we’ll cover in this Prime Advantage review:

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

What is Prime Advantage?

Prime Advantage claims to be a web-based trading app that helps its users buy stocks and crypto CFDs. According to their website, the platform is one of the first to completely integrate artificial intelligence (AI) to find and open trading opportunities in the market.

The goal of their crypto trade bot is to provide ordinary people the tools to trade like professional investors through automated trading, with 24/7 customer support – although we haven’t been able to verify the claims made on the website.

Those looking to invest in cryptocurrencies with a diverse portfolio can also take note of the different cryptoassets offered on Prime Advantage. The Prime Advantage trading app lets users trade 14 cryptocurrencies including Bitcoin, Ethereum, Litecoin, and XRP.

The Prime Advantage online trading platform states that a 250 USD deposit can yield up to 1,000 USD in profit or a 400% earnings. Although some stock and cryptocurrency positions have seen such drastic price changes intraday, those profits usually come from risky high-leverage trading plays.

Prime Advantage also claims to be a popular platform, reportedly building a substantial number of clients in the past few years.

Prime Advantage Pros & Cons

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

How Does Prime Advantage Work?

Prime Advantage says that it uses the same algorithmic trading software that institutional investors utilize to make profitable trades. In their website, they report a return on investment (ROI) of up to 50% while not requiring any former trading experience to operate. However, please remember that trading even with the most established platforms and software includes risk – only invest what you can afford to lose. 

Every trade made by Prime Advantage’s users is subject to a 2% commission, the standard in the financial services industry. Usually, commission fees per trade translates to lower spreads in trading platforms which is the difference between the buy and sell prices of financial instruments. 

Lastly, Prime Advantage offers a demo trading account for all its users to help them better understand how to use the platform. The practice account can be used anytime so that traders can test out new strategies and crypto signals to see how effective they are.

Prime Advantage Key Features

Let’s get deeper and explore the key features of the Prime Advantage trading platform.

AI Trading Software

When it comes to trading stocks and cryptocurrencies, retail traders often compete with the automated trading software of institutional investors. Prime Advantage advertises its AI-powered trading program to be based on the same trading software as these hedge funds which they claim to have a high profitability rate. 

On the Prime Advantage site, users need less than 20 minutes per day for the platform’s trading software to automatically make trades and close positions for profit. Do note that past performances are not indicative of future results and even trading with professional tools entails risk.

Trade Stock and Crypto CFDs

As we mentioned earlier, users can buy Bitcoin, Ethereum, and other popular cryptocurrencies in Prime Advantage. A total of 14 cryptocurrencies are featured on the website and they also mention the software can trade CFDs on stocks. 

The main advantage with platforms that offer different types of assets across multiple markets is that users can perform hedging strategies. This involves having multiple positions in different asset classes like having a portfolio of both cryptocurrencies and stocks.

Demo Trading

It’s fairly standard for trading platforms to offer a demo account or paper trading account. This feature allows users to trade live market prices without having to deposit real money. As stated on Prime Advantage, the platform’s demo accounts start with 10,000 USD of virtual equity.

Prime Advantage Fees

Prime Advantage charges a 2% commission from the profits of all trades. Other fees are not mentioned and a 250 USD minimum deposit is required to start live trading.

Is Prime Advantage a Scam?

Based on the Prime Advantage website, the platform has received positive feedback on sites like TrustPilot. However we could not verify any of these reports. The platform does not disclose any members who have worked on the software for the company nor any entity that owns the trading app.

Signing up and using the demo trading account is still free, so users can do their own research and try the platform out without needing to deposit immediately.

Prime Advantage Minimum Deposit

For those that do proceed past the demo account, the minimum deposit to start trading real money stock and crypto CFDs on Prime Advantage is 250 USD. The trading app does not mention any payment methods for deposits which may indicate that funding is facilitated by partner brokers. The typical methods for online brokers are bank cards, bank transfer, and e-wallet payments.

Prime Advantage Customer Support

Prime Advantage offers 24/7 customer support which is above the standard in the industry. However, we could not confirm any specific contact details or services linked to the platform.

The Verdict

Based on what Prime Advantage markets, the platform’s key features can benefit both new and experienced traders with their algorithmic trading software. However, we can’t confirm the claimed 50% ROI or 400% profit that is advertised on their website.

We do believe that anyone can test out the platform’s trading features through the free demo account and see if Prime Advantage lives up to its reported profitability rate. If you’re looking for other hands-off alternatives to trading stocks and cryptocurrencies, it’s also worth looking into the different copy trading platforms.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

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