Primebot is this a scam? Review and Customers Reviews

Primebot – is a complex for automatic trading in the foreign exchange markets. It is written in the MQL5 programming language and is based on a client-server architecture. The developers of Primebot claim that robot analyzes the trading environment using artificial intelligence. It is based on a modified Martingale.

Changes in the classic strategy are added for greater profitability and stability. Let’s try to understand: is Primebot a scam or an honest project?

 

Why Primebot

Primebot functions:

• Search for entry and exit points to and from a position.
• Choice of directions and fixation.
• Automatic averaging.
• Locking on multiple levels.
• Repayment of trade drawdowns.

In addition, the complex automatically collects its own statistics and clearly shows them on the dashboard. At first glance, the product looks interesting. Let’s see what’s inside.

Primebot registration

To register in the system you need to go to the official website primelife.company and click the “Login” button in the upper right corner. In the form that appears, find the “Registration” item and click on it. Here you need to enter an email address and a name. The system creates a secure password and sends it to the specified box.

At the same time you will need to register a trading account on the site Teletrade. At the moment Primebot allows working with the Teletrade Sharp-ECN server only. Consequently, traders will not be able to connect an account with another broker. If you already have an account at Teletrade, you can go to the control panel, section “Account Management”. A new account can be connected by clicking on the “Order” button. A small form appears where you should enter your details:

• The number of the client’s trading account.
• The password for it.
• Select a server from the drop-down list.
• An arbitrary name for the connecting account.
• License type. Beginners can choose Promo 0 USD – analog of demo account.

Nearby you can connect a remote desktop to control the process. It remains to click on “OK” and the setting is complete. Further settings will be picked up in the background automatically. According to the developers, the activation will take no more than an hour. If there is a balance on the trading account – the bot will start as soon as the preparatory procedures are completed. If a trader wants to have more control over the system, he can install the trading bot on his own desktop. To do this, after setting up the trading account, go to the “Download” section, download the Primelife installer to your computer and set it according to the internal instructions (Forex Trading Training).

 

Trading platform primelife.company

All management of the robot takes place on the website primelife.company. It is available in Russian, English, Chinese, and Spanish. Dashboard allows:

• Track statistics on connected accounts: balance, equity, drawdown and margin levels, positions. Traders can sort statistics to evaluate the robot at different time intervals.
• Set up a client profile: personal data, email address, password and social networks.
• Add new accounts and track payment history.

There is also a section with software downloads. There is a small guide to configuring the software. On the site primelife.company, the “About” section, shows all Primebot usage packages and prices. Customers can evaluate licenses and select a specific plan for their tasks.

Algotrading

The main advantage of the bot is that it automatically trades around the clock, without the need for control. Even if the robot’s profit figures are minimal, the cumulative profit can still be high, thanks to the number of trades. To implement algotrading, the robot must have built-in principles for opening trades. Primebot has a “core of strategies”. This is a unified system for managing the parameters of the bots. As a single strategy, the developers of Primebot chose Martingale, but upgraded it to increase stability.

In addition, the robot has a programmed “drying mode”. This mechanism allows you to react to the beginning of the drawdown and adjust the strategy, coming out of an unsuccessful series. As soon as the statistics are at a positive level, the algorithm allows the trader to withdraw money to fix the profit. “Dry Mode” can be called a system variant of the Open Lock.

 

Demo account primelife.company

New users can test the system for free. As such, demo account on Primelife is not available. But there is a Promo test license. It’s a free plan issued for one month. “Promo” can be used only on one account. The configurator of the settings in the demo remains closed. But clients get full technical management for 30 days, as well as all updates. In terms of functionality, the Promo license is identical to the Regular package – the minimum paid offer, costing $60.

 

Mobile application

Primebot has a mobile app for Android smartphones. The functionality of the app is fully identical to the web version. Here you can also access a personal account, set up accounts, and track trading indicators of the bot. The program is rated 4.6 by Google Play Market users. The creators have also announced an application for the iOS operating system. The interface is expected to appear in 2021.

 

Bonuses from Primebot forex trading robot

Prime Life is a conservative marketing company. The developers don’t launch loud contests or provide introductory bonuses for newcomers. There is a system of discounts for the product, built around the payment for the license. The higher and more expensive the package purchased, the cheaper it is for the client to use the robot for one month.

Affiliate Program

PrimeLife has its own affiliate program. Users can earn extra income by inviting new customers. Members are rewarded for selling and renting the robot. There are a total of four levels of the program:

• First level: bonus from the sale of forex robot – 10%, bonus from rent – 5%.
• Second: Bonus from each sale – 5 percent, rent – 3%.
• Third: from sale – 3%, from lease – 1%.
• Fourth: sale – 2%, rent – 1%.

The levels depend on the number of intermediaries between the inviting participant and the one who pays the rent or purchase. For example, if the trader Ivanov invited Petrov and Petrov bought a forex robot, then Ivanov will receive ten percent of the amount. If Petrov invited Mikhailov and Mikhailov bought a robot, Petrov would get 10% and Ivanov would get 5%. Accordingly, the client invited by Mikhailov, who bought the robot, will bring Ivanov three percent and Petrov five percent.

 

Deposit and withdrawal of earnings Primebot

To pay for the license and withdrawal of funds from the affiliate program, Primelife customers can use:

• Visa and Mastercard bank cards.
• Electronic wallets QIWI and WebMoney.
• Payment Systems FasaPay, Skrill, Neteller.
• Cryptocurrencies Bitcoin and Tether.
• Bank transfers.

Primebot cooperates directly with Teletrade. Therefore, clients using the services of this broker can pay for the bot from their trading balance. The funds will be automatically deducted if you connect your Teletrade account and select a paid license.

 

Complaints about Primebot

Despite the fact that the company has existed for several years, there are few reviews about this trading robot on the Internet. But the comments that are available are mostly positive. Users claim to earn with Primebot. The main advantage of the system remains simplicity – the client only needs to register a profile, connect a brokerage account and choose a suitable license. Analyzing the reviews of Primebot forex robot, we have not found any statements about fraud and deception on the part of the company.

Negative reviews are related to technical problems. There are comments stating that the Primelife support service works slowly and you have to wait for several hours for an answer. Also on the Play Market there are complaints about the work of the application.

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Robot controller

The developer of the Primebot trading bot is the Georgian company Prime Life LLC. It was registered in 2019 in Tbilisi with the National Agency of Public Registrations. The company is under the jurisdiction of the Republic of Georgia. Technically, Prime Life LLC provides software and does not operate in the financial sphere. Therefore, the company’s activities do not require licensing, special permissions and do not fall under the supervision of financial regulators. This applies to the company’s branches and representative offices located in Russia and in Kazakhstan. The main activity is conducted exactly from the Kazakhstan office, located in Almaty. Contacts of the office are presented on the official website and are also offered for contacting representatives of the firm.

Primelife.company User Agreement

The main document defining the relationship between users and the company is the public offer. It’s posted on the official website primelife.company. By registering in the system, customers automatically agree with the offer. By signing the contract, the user receives the right to use the product – software. Robot is protected by copyright, so it can not be copied and distributed without the permission of the developer.

The tenth section clearly states that the user himself bears the responsibility and risks when using the software package provided. In the sixth section, you can read that the copyright holder, i.e. the developer, is not responsible for the client’s losses as a result of erroneous use of the software. At the same time, the offer does not specify what kind of exploitation is considered erroneous. In any case, customers accept the service on an “as is” basis, agreeing in advance to potential errors in the system.

 

Is the Primebot a scam?

Prime Life – is a real-life software development company. This information is confirmed by an extract from the state public registers of Georgia. The company’s director is a citizen of Kazakhstan, Alexander Shestak. The company has no debts and unfulfilled obligations.

Taking into account the information we gathered, we believe that Primebot trading robot is not a scam, but a working product. It does not have flexible settings, but it does not require any special skills. It is essentially an “out of the box” solution aimed at traders with little experience. Some questions are raised by the strategy used by the bot. The developers assure that it is an upgraded Martingale, but do not disclose in detail what changes have been made. They are entitled to it, because any strategy is a commodity, no one is obliged to share it for free.

 

Conclusion

Primebot It is difficult to consider it as a trading tool for the traders of the highest category. The developers had a different task – to create a simple tool for earning half a passive income in the forex markets. In its promotional materials, the company positions the bot as a tool for those who do not want to spend time and money studying trading and investing in pawn accounts. The developers talk about a possible gain of 6 percent every month. Taking into account the technical solutions and the “stuffing” of the robot, this profit rate looks realistic.