About Premium
Overview
Premium is a forex broker registered in the United Kingdom, established on May 13, 2019. The company operates through the domain premiumtradesmarkets.com and presents itself as a provider of online trading services. However, the broker is not regulated by any recognised financial authority, which is a significant factor for potential traders to consider. Based on the limited information available, the broker appears to target retail traders seeking access to forex and CFD products with high leverage.
Regulatory Status
One of the most critical aspects of Premium is its complete lack of regulation. According to the records we have, no licences from any major regulatory body such as the FCA, CySEC, or ASIC have been found. This absence of oversight means there is no external protection for clients in the event of disputes or financial difficulties. For traders, this introduces substantial counterparty risk, as the broker operates without the mandatory safeguards that regulated brokers must adhere to.
Trading Offerings
Premium offers trading on forex instruments with leverage up to 1:300, which is relatively high compared to many regulated brokers. The trading platform provided is MetaTrader 5 (MT5), a widely used and respected platform known for its advanced charting tools and automated trading capabilities. The broker claims to offer forex as the primary asset class, but it is unclear whether other instruments such as CFDs on indices, commodities, or stocks are available. The leverage offered far exceeds typical regulatory limits in jurisdictions like Europe or Australia, indicating that Premium likely targets clients in less strict regulatory environments.
Account Information
The minimum deposit required to open an account with Premium is $200, which is a moderate entry point for retail traders. Details about account types or fee structures are not publicly available from our sources. Given the lack of regulatory oversight, traders should be cautious about any hidden fees or unfavourable terms that may be present in the broker’s terms and conditions. Transparency regarding withdrawal policies and trading costs is essential, but we could not verify such information.
Risk Considerations
Premium carries a high fraud risk, reflected in its FXCanary Scam Risk Score of 75 out of 100, categorised as 'Severe'. This score is primarily driven by the broker's unregulated status and limited public information. Traders dealing with unregulated brokers face heightened risks, including potential mishandling of funds, lack of dispute resolution mechanisms, and possible sudden closure of operations. For these reasons, Premium is not suitable for risk-averse traders or those seeking a safe trading environment.
Conclusion
In summary, Premium is a UK-registered but unregulated forex broker offering high-leverage trading on MT5 with a $200 minimum deposit. The lack of regulatory oversight and severe risk score are major red flags that traders must evaluate carefully. Without regulatory protection, the onus is entirely on the trader to verify the broker's credibility and operational integrity. We recommend that traders exercise extreme caution and consider only fully regulated alternatives for their trading activities.
Overview compiled by FXCanary from regulatory records and public data. full Premium review