What is PU Prime?
PU Prime is a brand serving its users with online trading worldwide. The commercial name belongs to two different entities, each operating through a specific website:
- puprime.net is associated with the company PU Prime LLC ;
- puprime.com and puprime.online are associated with the company Pacific Union (Seychelles) Limited.
There is also mention of another company, Finzero Cap Ltd, that is serving as a payment agent for Pacific Union (Seychelles) Limited. It is therefore a third party employed to facilitate financial services between customers and platforms belonging to Pacific Union (Seychelles) Limited.
As stated on the three different websites that serve the brand PU Prime, the trading platforms have received several awards worldwide, which is intended to reassure the users on the quality of the services. However, because the information is a copy-paste on all of the websites regardless of the operating entity, it is difficult for the customers to differentiate between the brand and the actual brokers:
Forex Trading Scam?
* When registering a new account from puprime.com, upon selecting the residential country, the user will be redirected to puprime.net in almost 97% of the cases. Indeed, out of 232 territories where the business name PU Prime offers financial services, only 7 of them can get registration from the puprime.com platform. These 7 countries are Brunei, Indonesia, Laos, Malaysia, Thailand, Timor, and Vietnam.
Interestingly enough, all of the above mentioned constitute the area known as Southeast Asia, where the only countries missing are Cambodia, Myanmar and Philippines – residents of these countries will be redirected to the purpime.net platform; and Singapore, for which PU Prime does not offer services.
To summarize the facts, one business name is used to provide financial services by two different offshore entities – one of them handling solely half of Southeast Asian countries. One can wonder about the meaning of such organization, especially given the fact that the operating entity of puprime.com, Pacific Union (Seychelles) Limited, is using a payment agent in Cyprus, Finzero Cap Ltd, to facilitate payment services to and from the customers. Is there a specific reason why individuals in most of Southeast Asia are depending on some European payment agent in order to trade through Seychelles based’ PU Prime?
As a reminder, residents of only 7 countries can trade through puprime.com, operated by Pacific Union (Seychelles) Limited. It seems odd then, that the official app for all customers worldwide would refer to this specific entity, when the majority of PU Prime’s customers are being handled by the PU Prime LLC entity.
PU Prime seems to be lacking transparence regarding the differences between its two offshore operators, PU Prime LLC in St Vincent and the Grenadines and Pacific Union (Seychelles) Limited in the Seychelles. For customers of the PU Prime financial services, it is essential for the development of a trusting relationship to know which regulatory institution oversees consumers’ protection and entities’ supervision.
Reviews of PU Prime
There is no TrustPilot profile for the puprime.net platform, therefore all reviews are written for the puprime.com platform, apparently regardless of the customers’ affiliation. The Forex Peace Army website also states that multiple fake reviews were written in favor of PU Prime.
As we can see, users show dissatisfaction with the handling of their assets by PU Prime. In both cases above, customers were unable to profit from their trading activity – not because they made losing trades, but because PU Prime withheld their gains.
The Financial Conduct Authority (FCA) in the UK recently issued a warning against puprime.com and the French regulatory authority AMF had already blacklisted puprime.com in April 2021 and puprime.net in October 2022.
In particular, it is mentioned that Pacific Union (Seychelles) Limited is not authorized to conduct business in the United Kingdom, and as for the French authority, the blacklist indicates that PU Prime is not recommended when choosing a Broker to trade with. However, French citizens are still eligible to open an account with PU Prime, and it seems that most of European consumers are unaware of the caution advised by regulators.
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