PU Prime Closes Service in Mainland China

BrokersView has learned the announcement from PU Prime about discontinuing its services in mainland China.

According to the announcement, the online forex broker PU Prime has stopped the new account opening service in mainland China, and will gradually stop other services:

1. All deposit services are scheduled to close on February 1, 2024, Beijing time;

2. It is planned to stop trading and close the server from May 1, 2024, Beijing time.

According to PU Prime, before that, users can reasonably dispose of their funds and positions in advance, and continue to access all services such as deposit and withdrawal on the platform.

In early November 2023, PU Prime was warned by the Financial Conduct Authority (FCA) for not being authorized by the regulator to provide financial services in the UK.

Previously, PU Prime was also warned by other regulators, including the Autorité des Marchés Financiers (AMF) and the Danish Financial Supervisory Authority (Danish FSA).

PU Prime is registered with the St. Vincent and the Grenadines Financial Services Authority (SVG FSA) and is currently regulated by the Financial Services Conduct Authority (FSCA) and the Seychelles Financial Services Authority.

It is worth noting that PU Prime is not regulated by financial regulators in mainland China and exhibits regulatory concerns in the region.