Is FX PREMIUM a scam or legit broker?

Here is the information for you to make your own decision.

FX PREMIUM is owned and operated by FX PREMIUM Group Ltd. which is an offshore company registered in Vanuatu.  FX Premium is registered with the Vanuatu Financial Services Commission (VFSC).

Vanuatu is one of the easiest locations to open a bogus brokerage, as the opening requires the company to enroll online, demonstrate beginning set up capital which is $2,000 as it were, to pay a charge, and do so within 3 months.  In short  just about anyone can open a bogus trading company in Vanuatu.
As to the broker’s VFSC permit, from our sources, it costs €24,000 per year to become a member. However, and there’s no laws or regulation for brokers to run their trading operation in VanuatuIn this mannerthere’s  zero assurance for clients that they are not being scammed.

FX PREMIUM claims to be a Forex and CFDs broker. According to thier site, FX PREMIUM Group Ltd operates under European regulationsdirected and authorized by CySEC (Cyprus), is MIFID II compliant, and is additionally enlisted with Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) (Germany), the FCA (UK) and the ACPR (France). FX PREMIUM Group Ltd is additionally a part of the ICF (Investor Compensation Fund). When I contacted these regulatory bodies, they all verified that FX Premium Group Ltd. is not regulated.

Additionally, the Cyprus Securities and Trade Commission has included FX PREMIUM in its caution list.
There are also numerous scam warning online about, just google “fx premium scam” and see the results for yourself.
We implore all investors and traders to maintain a strategic distance from FX PREMIUM and other brokers from Vanuatu.
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