Scam Warning: Bold Prime Exchange Is Not Safe

Who is Bold Prime?

After reviewing the website https://boldprime.com/ , it can be seen that Bold Prime exchange is not under any regulatory authority. This is a scam warning sign enough for you to NOT invest with them! In addition, the fact that Bold Prime exchange works with websites that offer “Auto-Trading Software” that are known for scams is another warning sign.

So Bold Prime is just an unregulated forex broker, which means that customers are not protected. Chances are they will take your hard-earned money and there will be no governing body to hold them accountable.

How does Bold Prime work?

Usually unregulated forex brokers work the following way: They will contact people to convince them to make a minimum initial deposit, and try any conceivable method to get make it a reality. They will offer great sounding deals like double your initial deposit or you will earn 100 USD a day easily.

Don’t trust what they “draw” because it’s a scam! After making your initial deposit, you will be redirected to a smarter scammer called a “retention agent” who will try to get more money out of you.

Withdraw money

You should submit your withdrawal request as soon as possible because your funds are never safe with an unregulated and unregulated broker. And this is where things get complicated.

If you want to withdraw and it doesn’t matter if you are profitable or not, Bold Prime will delay the withdrawal process for many months. If the delay is 6 months, you will no longer be able to send a chargeback and your money will go awry. No matter how often you remind Bold Prime or ask to withdraw your money, you will NOT get your money back from them. If you have signed a Managed Account Agreement or MAA, you have essentially authorized Bold Prime to do whatever they want on your account, they will lose all of your money and will there’s nothing left to ask for.

How to get your money back?

If you sent money to Bold Prime and the exchange refuses to pay you, which is very likely, there are still 1 or 2 possible ways to get your money back.

First, keep all emails as proof that you asked Bold Prime to return your money but the broker didn’t give it to you or delayed the process too long with the intention of not giving you a refund.

The next thing you should do is make a claim immediately! Contact your bank or credit card provider, explain how you were scammed into depositing money on an unregulated exchange and they refused to give you your money back. This is the simplest way you can get your money back and also makes Bold Prime the most affected. Because if multiple chargebacks are made, this will destroy Bold Prime’s relationship with payment providers.

What about wire transfer?

If you transfer to Bold Prime, there is no way to make a refund by wire transfer. For this step, you need to take the complaint to the next level. Please inform Bold Prime that you will contact the authorities and file a complaint against them. That will cause the exchange to consider the possibility of refunding you.

Another thing you can do is prepare a letter or email describing how you were tricked to send it to the regulatory authorities. Depending on the country you live in, you can do a google search to find the Forex brokerage authority in that country. Then give this letter or email to Bold Prime, informing you that you will send it to the regulator if Bold Prime doesn’t give you a refund.

Leave Bold Prime reviews on other sites

Another way to influence Bold Prime and help others not become the next victim is to leave bad reviews on other sites and briefly describe what happened. In addition, brokers like Bold Prime when changing websites, they tend to contact old customers.

So if they contact you from a new website, write your review in the comment section to expose trading scams.

As a small but very important rule, carefully review all Forex brokers and any company involved in forex trading, before you make any trades. Hope you find a reliable, regulated broker and have successful trades!