Prime Capital are scammers. Forex broker review
Broker Prime Capital, which operates in England, is considered a scam with a reputation tainted.
If we get to the official website of Prime Capital - Primecapital.pro, we will find that our organization provides brokerage services for trading in the Forex market in the UK. In addition, Prime Capital provides services for financial activities.
Our experts researched the Prime Capital website, got acquainted with the working conditions, tried to get at least test access to the software, looked at the availability of securities, the place of registration of the company.
With the help of this information, we will find out: is Prime Capital a scam or not?
Additionally, we will tell you how not to get caught in the networks of scammers, about their work algorithms. We will give you all the necessary data in order to keep your investment safe.
Prime Capital is based offshore
The first call that says that Prime Capital is bandits is the region of registration. Documentally, the company is registered in the Marshall Islands, which is already suspicious, since the company operates in Britain. Offshore states attract the attention of deceivers due to the lack of the need to comply with the law and supervision.
In addition, this region does not have the authority to operate on the Forex financial market.
Also, when we tried to find the legal address, mentions of the owners and directors of Primecapital.pro, we could not find anything.
This hints that Primecapital.pro is a fake broker, interaction with which can result in significant financial losses.
No data found about the owners of Primecapital.pro
Having studied the website, our experts have not been able to find plausible information about the directors of Primecapital.pro. No legal address, no telephone or other means of communication.
We think that this means that the actual directors are trying to hide themselves in order to hide from responsibility for crimes. If you manage to catch one of the employees of Prime Capital, then everything will end there, and the real leaders of the shadow organization will remain free with the money.
Prime Capital, website - Primecapital.pro, works less than 30 days
The website Primecapital.pro talks about many years of experience in Forex.
The main way to explore a website is to get information about the domain. As a rule, they fix the validity period of the domain, the contact details of its owner.
In our case, the Primecapital.pro domain exists for less than 30 days, and all information about the individual who owns it is hidden. Another evidence that the organizers of Prime Capital are trying to protect their anonymity.
This desire can be accepted, but not in those cases when it comes to a financial firm working as an intermediary between a trader and Forex.
At the same time, Primecapital.pro assure potential clients that they have been working effectively on Forex for quite a long time.
Primecapital.pro does not have a demo period
It is a common practice for online brokers to give traders a test version of their software so that they get to know the interface and try their hand at trading in the Forex financial market with fake currencies.
Unfortunately, on the Prime Capital website, we did not find information about the trial period, the opportunity to try out the software.
We assume that the organizers of the Primecapital.pro company are simply not going to provide users with test access to the service, since some of them may begin to suspect fraud.
Online broker Primecapital.pro operates with a negative balance
Legal organizations that trade on the Forex market do not use a negative account in their work. By law, a broker's trader is unable to spend more now there is on his balance sheet. In those rare situations when the balance still goes into negative territory, the loan must be repaid not by the trader, but by the company that provided the services.
In accordance with this, official Internet brokers do not use a negative account in their activities.
However, Primecapital.pro gives its clients Forex operations with a negative balance, that is, on credit.
Why is this needed?
In order to drive the user into a minus and require him to pay the debt. This is one of the most popular methods of fraud used by bandits.
In the event that this happens, it must be remembered that scammers do not have the opportunity to get money out under UK law. All methods of influencing traders are illegal. The maximum that criminals are able to do is call, write messages with threats.
It is impossible to cooperate with Primecapital.pro, as the agreements will result in new losses.
Primecapital.pro work with a credit ratio of one to four hundred or more
Already now, it becomes obvious that Prime Capital are bandits. However, let's point out one more nuance, namely, the presence of too much leverage.
The credit ratio is the ratio of the finances of users and online brokers when making a transaction. Leverage allows large operations to be carried out by traders who do not have the appropriate amounts freely available.
In order to protect traders in the Forex financial market, in civilized regions, the legislation provides for the use of a credit leverage with the largest ratio of one to 30, in exceptional cases 50.
At the same time, Prime Capital uses a credit ratio of 1 to 400 for Forex trading.
A similar ratio is allowed in Switzerland, as firms registered in this country enjoy high confidence. However, Prime Capital is not formalized there.
In fact, Prime Capital cannot conduct operations in the Forex financial market with such leverage, due to the high risk for clients. Actually, this is used only to force the client to give more money, but also to drag him into debt.
Regional divisions of Prime Capital
It is considered prestigious for a company to have local branches in developed countries, even if the work takes place only in the UK. Therefore, Prime Capital reports that in addition to an impressive number of awards, they have local offices in the UK, Australia and other civilized regions, and in addition about thousands of experienced professionals.
It is very easy to check the availability of these offices. After all, there are industry organizations that control the actions of brokers. In the UK it's FCA, in Australia it's ASIC.
That is, the official company must have supporting papers from these or other organizations that will confirm their right to provide services for making money on the Forex market, and indicate the degree of responsibility.
Nevertheless, after analyzing the profile sites, our experts could not find them. Which once again strengthens our suspicions.
For registration on Primecapital.pro, you need to transfer personal data
As we reported earlier, Prime Capital does not have a demo period, and therefore, in order to gain access, you must immediately transfer the minimum payment to Prime Capital criminals. In addition, access to Primecapital.pro's personal account is possible only upon completion of user verification.
This means that Prime Capital requires users to transfer data such as:
- Information about an individual;
- Information about the permanent place of residence (payments for a communal apartment);
- Information about the place of work, qualifications, experience.
In addition, during the first transfer, scammers can get access to bank card information.
As a result, this data can enable scammers to hang a loan on a deceived client, or implement other illegal frauds.
Since for registration on the Primecapital.pro website, you need to send your personal data, our employees did not get access to the Prime Capital personal account and services for working on the Forex financial market.
Real reviews about Prime Capital
The most important step in exposing Prime Capital is to study the feedback from traders.
A detailed analysis of the search results gave us the following information:
- Most of Prime Capital's online reviews are lies. These are template positive reviews of a customized type;
- All real reviews and comments about Prime Capital are bad. Our experts were unable to identify true references from former clients of Primecapital.pro, which speak of good earnings, successful work.
- Negative reviews and references are associated with illegal activities, theft of deposits, special creation of credit.
Because of this, reviews of Prime Capital indicate that the internet broker in question is a scam.
Contact details and official papers of Prime Capital
Analyzing the data on Primecapital.pro, our experts have identified a lot of dubious digital official papers that can be easily done with the help of a graphics editor. They are not confirmed by official firms, which means they cannot be trusted.
If an Internet broker is not associated with regulatory firms, then users simply have nowhere to turn for help.
On the "Contacts" page, our specialists found a phone number. It turned out that it had already been used by an illegal online 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 Forex online broker? Make sure you can take money from him.
After analyzing the user agreement on the official website of Prime Capital, our specialists did not find clear information about the methods of withdrawing money. In addition, we found a mention of fines for the inactivity of a personal account, but there was no information about the amounts. Since scammers do not operate in the official field, it is impossible to protest these fees.
Because of this, if the client has ended cooperation with Prime Capital, they may start calling and spamming demanding to pay a fine.
How does Prime Capital operate?
The method of searching for new users that Prime Capital uses is also alarming.
For advertising, fake social media accounts are used, in which fake people spread information about how they instantly managed to get rich by earning on Forex through Prime Capital. Bots show expensive cars and houses, vacations in resorts and other indicators of a rich life.
Non-existent people promise a rapid increase in income, for which you do not need to study or make a lot of effort.
If a potential trader comes into contact with criminals, Prime Capital managers confirm the possibility of instant profit, and in addition, about some unique features of their services that allow you to immediately withdraw a large profit.
After that, various tricks are used to get the maximum investment from the client. For example, a client can draw a small profit to motivate them to transfer even more funds.
If work on the Forex market becomes unprofitable, the personal manager will recommend transferring more in order to compensate for the debt.
Prime Capital managers act according to the methods developed by professional deceivers. Scammers study data about a trader in order to influence vulnerabilities and lure out more money.
As a result, it all comes down to one of two options:
- If you want to receive money before you are in debt, you will be charged fees, will freeze your investment, and will do everything to make you pay more;
- When you allow fraudsters to drive the balance on credit, there will be threats, bandits will demand to pay a fake debt.
An additional method to earn money for Prime Capital can be the transfer of your personal data to third companies. Most likely, as a result, complete information about you will actually be bought for a moderate amount of money on an anonymous Telegram channel on the shadow Internet.
Surely, as a result of this, various criminals, sellers, etc. will begin to call you more often. You should also wait for letters from Primecapital.pro accomplices, who will begin to offer to “receive” lost deposits, of course for payment.
Since Prime Capital does not operate in an official field and preserves anonymity, Primecapital.pro cannot be forced to be liable under UK law. The leaders of the shadow organization are carefully hiding and, at best, law enforcement agencies will be able to figure out one of the "administrators".
Should Prime Capital be trusted?
If you are going to transfer finances to criminals, then give them to a good cause.
Let's briefly list the facts that testify that Prime Capital are bandits:
- No official registration;
- No demo period;
- Lack of information about the owners of the company;
- Phone number found in illegal transactions;
- Negative balance;
- Credit ratio more than one to 50;
- Negative reviews;
- Invalid data on the website.
Detailed review of Prime Capital - over. Obviously, Prime Capital are criminals.