Forex scam from Prime Capital broker
03 / 04 / 22
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The Internet broker Prime Capital, which operates in Britain, is considered a scam with tainted publicity.
When we go to the official website of Prime Capital - Primecapital.pro, we will find that the company under study provides services for working on the Forex financial market in Britain. In addition, Prime Capital provides services for trading activities.
Our specialists analyzed the Prime Capital website, got acquainted with the working conditions, made attempts to get at least test access to the software, analyzed the availability of documents, the region where the company was registered.
With the help of the received data, we will find out: Is Prime Capital a scam or not?
In addition, we will explain to you how not to get hooked by scammers, about their methods of action. We will tell you the necessary information in order to keep your finances safe.
Prime Capital organization based in offshore region
The main signal indicating that Primecapital.pro is bandits is the region of registration. The organization is documented in the Republic of the Marshall Islands, which is already in doubt, since Primecapital.pro operates in the UK. Offshore states are popular with criminals due to the lack of legislation and regulation.
In addition, this state does not have permission to operate in the Forex financial market.
Moreover, when our employees tried to find the address, information about the owners and directors of Prime Capital, they could not find anything.
This is already demonstrated that Prime Capital is a shadow broker, cooperation with which will result in serious financial losses.
No information found about the organizers of Primecapital.pro
After studying the website, our employees could not find any credible information about the directors of Prime Capital. No physical address, no phone numbers or other methods to get in touch.
Usually, this means that the actual owners are trying to hide themselves in order to avoid being punished for their actions. If you manage to identify one of the employees of Prime Capital, then this will all end, and the real organizers of the criminal firm will remain free with the money.
Prime Capital, website - Primecapital.pro, is less than a month old
The official website of Prime Capital talks about the great experience in the Forex market.
The main method of studying any website is to obtain data about the domain name. Usually, they fix the validity period of the domain name, the data for the connection of its owner.
In this case, the Prime Capital domain exists for less than 30 days, and information about the legal entity or individual that owns it is hidden. Another proof that Prime Capital's management is trying to protect its anonymity.
This desire can be supported, but not in those cases when it comes to a financial company working as an intermediary between the user and the Forex market.
At the same time, Primecapital.pro themselves assure their potential clients that they have been trading effectively on the Forex market for many years.
Primecapital.pro does not have a demo period
It is a normal practice for Internet brokers to provide traders with a test version of their programs in order for them to get acquainted with the interface, to test their capabilities in operations on the Forex financial market with virtual money.
Unfortunately, on the website Primecapital.pro, we could not find information about the test period, the ability to test the programs.
We think that the organizers of the Primecapital.pro organization are simply not going to provide users with demo access to the service, as some of them may begin to suspect a scam.
Online broker Prime Capital operates with a negative balance
Registered firms that operate in the Forex financial market do not use a negative balance in their activities. According to the law, the user of an Internet broker cannot spend more than what is currently on his account. In cases where the balance goes negative, its debts must be repaid not by the user, but by the organization that has provided its services.
In accordance with this, registered Internet brokers do not use a negative account in their activities.
Nevertheless, Prime Capital offers clients trading with a negative account, that is, on credit.
What is it for?
In order to drive the user into debt and start demanding repayment of the loan. This is one of the most common deception methods used by financial scammers.
If this has already happened, you need to know that the criminals have no way to get the investment out in accordance with the laws of the UK. Any methods of pressure on users are considered criminal. The most that scammers are capable of is calling, sending messages with demands.
It is impossible to cooperate with Primecapital.pro, as all agreements will result in new expenses.
Prime Capital operate with leverage of 1 to 400 or more
It is already obvious that Prime Capital are criminals. Nevertheless, we point out one nuance, namely the existence of an excessively large credit ratio.
The credit ratio is the ratio of the finances of traders and online brokers when concluding a transaction. It allows you to close significant transactions to users who do not have large amounts of money with them.
In order to protect Forex traders, in civilized states the laws require the use of a credit ratio with the highest ratio of 1 to 30, in exceptional cases fifty.
At the same time, Prime Capital applies a leverage of 1 to four hundred for Forex trading operations.
Such an attitude is allowed in Switzerland, since firms registered in this country enjoy considerable confidence. But Prime Capital is not registered there.
In fact, Prime Capital does not have permission to trade in the Forex market with such a credit ratio, due to the high risk for users. Actually, this is used only in order to force the client to give as much money as possible, but also to drag him into loans.
Local offices of Prime Capital
It is considered prestigious for a financial company to have regional offices in civilized countries, even if the activity is carried out exclusively in the UK. So Prime Capital informs that in addition to a significant number of awards, they have local branches in Britain, Australia and other developed countries, as well as many experienced employees.
Checking the existence of these branches is quite simple. After all, there are specialized structures that regulate the actions of online brokers. In the UK it's FCA, in Australia it's ASIC.
Accordingly, the official company is obliged to have supporting documents from these or other structures that will confirm their authorized right to provide Forex trading services, regulate the level of responsibility.
However, after analyzing specialized sites, we could not find them. This once again reinforces the suspicions.
For registration on Primecapital.pro, you need to transfer confidential data
As we mentioned earlier, Prime Capital does not have a demo period and therefore, in order to gain access, you must immediately pay the Prime Capital bandits a minimum deposit. In addition, it is possible to create a Primecapital.pro personal account only upon successful completion of user confirmation.
This means that Prime Capital requires users to provide information such as:
- Information about an individual (passport, birth certificate);
- Information about the permanent place of residence (scans of utility bills);
- Information about qualifications, place of work, experience.
In addition, during the first transfer, criminals are able to access bank card information.
As a result, this information may enable fraudsters to put a credit on the user, or to carry out other criminal acts.
Since you need to send your personal information to register on the Primecapital.pro website, our employees were unable to access the Prime Capital personal account as well as programs for earning money in the Forex financial market.
Reviews on Prime Capital
A very important step in exposing Prime Capital is the study of user reviews.
A detailed study of the search results yielded the following information:
- Most of the reviews and mentions of Prime Capital on the Internet are lies. These are the same positive reviews and mentions of the paid type;
- All true reviews about Prime Capital are bad. We could not find reliable references from former users of Primecapital.pro, which mention profit, successful activity.
- Bad reviews are associated with illegal activities, theft of money, artificial creation of credit.
Therefore, reviews of Prime Capital suggest that the online broker in question is a criminal.
Prime Capital contact details and white papers
After analyzing the mentions on Primecapital.pro, our experts found a lot of dubious digital official papers that can be easily made using a graphic editor. They are not confirmed by official firms, which means they cannot be trusted.
If an Internet broker is not associated with regulatory companies, then its traders simply have nowhere to turn for help.
On the "Contacts" page, our experts identified a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the network about fraudulent activities associated with the phone number listed on Primecapital.pro.
Withdrawing money from Primecapital.pro
Are you going to make money with an online Forex broker? Make sure that you can take away investments from him.
Studying the client agreement on the official website of Prime Capital, we did not see clear information about the methods of withdrawing funds. In addition, our experts identified a mention of punishments for a long period of inactivity of the account, but did not find information about the amounts. Since criminals do not operate in the legal field, it will not be possible to cancel these requisitions.
Because of this, if the user has completed work with Prime Capital, they can call and write messages demanding to pay a fine.
How does Prime Capital operate?
The method of finding clients that Prime Capital uses is also alarming.
For advertising, false social media profiles are used, in which non-existent people talk about how they quickly managed to get rich by making Forex transactions through Prime Capital. Fakes show expensive cars and real estate, trips to resorts and other manifestations of a rich life.
Fakes guarantee instant earnings, for which you do not need to learn or put a lot of effort.
When a potential user gets in touch with scammers, Prime Capital employees confirm the possibility of a quick profit, and besides, about some unique features of their services, which will make it possible to immediately get a solid profit.
After that, various tricks are used to get the maximum money from the user. For example, a fake profit can be drawn to the user to inspire them to give more money.
If Forex trading is negative, the representative of the organization will offer to transfer even more to compensate for the losses.
Prime Capital managers act according to algorithms created by qualified scammers. Criminals analyze information about a trader in order to put pressure on vulnerabilities, to pull out more deposits.
As a result, it all boils down to one of the options:
- When you want to receive investments before you find yourself in loans, you will be charged fees, close the invested money, and will do everything to force you to transfer even more;
- If you let the criminals drive the balance into debt, there will be threats, the bandits will extort the return of the fake loan.
Another method to earn income for Prime Capital can be the sale of your personal information to third parties. We think that after that, information about you can be purchased for a moderate amount on some anonymous service on the dark web.
Most likely, after that, all sorts of bandits, sellers, etc. will begin to call you. In addition, you should expect calls from Primecapital.pro colleagues who will offer a “return” of lost finances, of course, for a reward.
Since Prime Capital does not operate in the official field and remains incognito, they cannot be forced to comply with current laws in Britain. The heads of the shadow company are carefully hiding and, at best, law enforcement agencies will be able to catch one of the "managers".
Can I work with Prime Capital?
Never!
If you are going to give money to criminals, then it is better to spend it on charity.
Let's briefly voice the evidence indicating that Prime Capital are scammers:
- Lack of official registration;
- No demo period;
- There is no data on the owners of the firm;
- Phone number found in shady schemes;
- Negative balance;
- Credit ratio greater than 1 to fifty;
- Bad reviews;
- False information on the website.
This concludes the Prime Capital review. It is clear that Prime Capital are scammers.
A complete list of unscrupulous brokers, that we do not recommend working with is available here.
