Forex scam from Prime Capital broker
The online broker Prime Capital, operating in England, is a criminal with a corrupt reputation.
If we get to the official website of Prime Capital - Primecapital.pro, we will find out that the company under study provides intermediary services for trading on the Forex market in the UK. Prime Capital also provides software for financial transactions.
Our employees researched the official website of Prime Capital, got acquainted with the working conditions, made attempts to get test access to the programs, investigated the availability of official documents, the region where the company was registered.
With the help of the information received, we will figure out: is Prime Capital a scam or not?
In addition, we will tell you how not to get hooked by criminals, about their methods of operations. We will tell you all the necessary data to keep your investment safe.
Prime Capital is offshore
The first signal indicating that Prime Capital is a scam is the state of registration. According to the documents, the company is registered in the Republic of the Marshall Islands, which is already suspicious, since the company operates in Britain. Offshore countries attract the attention of scammers 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 market.
Moreover, when our employees tried to find the real address, references to the owners and management of Prime Capital, they could not find anything.
This already shows that Prime Capital is an illegal online broker, working with which will result in large financial losses.
Lack of information about the directors of Prime Capital
After examining the official website, our experts have not been able to find reliable data about the organizers of Prime Capital. No legal address, no phone numbers or other methods of contact.
This usually means that the actual directors try to hide their identities in order to avoid being held accountable for their actions. Even if you manage to catch one of the employees of Prime Capital, then everything will end there, and the real leaders of the criminal organization will remain free with the money.
Prime Capital, website - Prime Capital, is valid for less than 30 days
The official website of Prime Capital talks about the significant experience of operations in the Forex market.
The main way to analyze a website is to obtain data about its domain name. Basically, they fix the period of operation of the domain, the contact details of the owner.
In our case, the Primecapital.pro domain has been working for less than 30 days, and all data about the person who owns it is hidden. Another evidence that the owners of Prime Capital are trying to remain anonymous.
This desire can be accepted, but not in those cases when it comes to a company working as an intermediary between the client and the Forex market.
In addition to this, Prime Capital themselves assure their clients that they have been trading effectively in the Forex market for a long time.
Primecapital.pro does not have a demo period
It is normal practice for brokers to provide clients with a test version of their software so that they get acquainted with the interface, test their skills in playing the Forex financial market with virtual currency.
Unfortunately, on the website of Prime Capital, we did not find any mention of a demo period, an opportunity to try the programs.
We assume that the owners of Prime Capital are most likely not going to give traders test access to paid software, as some of them may suspect a scam.
Online broker Primecapital.pro works with a negative account
Official companies that trade on the Forex financial market do not use a negative balance in their work. By law, the user of an online broker cannot spend more than what is currently in his account. In those rare cases when the account still goes into a negative value, its debts will have to be repaid not by the client, but by the organization that offered its services.
Because of this, official online brokers do not apply a negative balance in their work.
And yet, Prime Capital gives its users work with a negative account, that is, in debt.
Why is this needed?
In order to drive the trader into debt and start demanding that he pay off the debt. This is one of the most common scam methods used by scammers.
In the event that this happens, you need to remember that fraudsters have no way to knock out investments in accordance with the laws of England. Any means of influencing users is considered criminal. The most that scammers are capable of is to disturb with calls, write messages with threats.
It is impossible to cooperate with Primecapital.pro, since any agreements will result in losses.
Primecapital.pro operate with a credit ratio of one to 400 or more
Already, it is clear that Prime Capital are bandits. However, we point out one nuance, namely the presence of an excessively large credit leverage.
Leverage is the ratio of customer funds and online brokers when making a deal. It makes it possible to carry out large transactions for clients who do not have large amounts of money.
To protect traders in the Forex financial market, in civilized countries, the legislation provides for the use of a credit leverage with a maximum ratio of 1 to 30, in rare cases fifty.
At the same time, Prime Capital uses a leverage of 1 to 400 for operations on the Forex market.
This attitude is allowed in Switzerland, because firms registered in this country enjoy great confidence. However, Prime Capital is not registered in this country.
In fact, Prime Capital is not allowed to trade Forex with such leverage, due to the high risk for users. Accordingly, this is used to force the trader to invest more personal funds, but also to drag him into debt.
Prime Capital Local Offices
It is considered important for any organization to have regional divisions in civilized regions, even if the work takes place exclusively in England. Therefore, Prime Capital informs that in addition to a significant number of awards, there are local offices in England, Australia and other developed countries, as well as thousands of competent specialists.
Checking the availability of these offices is elementary. After all, there are specialized organizations that regulate the activities of brokers. In the UK it's FCA, in Australia it's ASIC.
Accordingly, a law-abiding organization must have supporting papers from these or other organizations that confirm their right to provide trading services on the Forex market, determine the degree of responsibility.
And yet, having studied the specialized official sites, our experts did not find them. Which once again confirms the fears.
For registration on Primecapital.pro, you must transfer personal data
As we mentioned before, Prime Capital does not have a demo period and because of this, in order to gain access, you must immediately pay the Prime Capital criminals a minimum deposit. Also, access to Primecapital.pro's personal account is possible only upon completion of user confirmation.
This means that Prime Capital requires users to provide information such as:
- Information about an individual;
- Information about the permanent place of residence (scans of utility bills);
- Information about qualifications, place of work, experience.
Also, during the initial payment, scammers can get access to bank account information.
As a result, this information may enable criminals to issue a loan to a deceived user, or carry out other shady activities.
Since for registration on the official website of Primecapital.pro, you need to send your personal data, we were never able to get access to Prime Capital's personal account and programs for making money on the Forex financial market.
Reviews on Prime Capital
The most important step in exposing Prime Capital is the analysis of customer reviews.
The study of issuance in search engines gave the following information:
- Most of the references to Prime Capital online are fake. These are similar positive reviews and customized comments;
- All real references to Prime Capital are negative. Our employees were unable to find true references from Primecapital.pro clients, which mention good earnings, successful trading.
- Negative reviews are caused by fraudulent activities, theft of finances, artificial creation of debt.
Therefore, the reviews about Prime Capital say that this Internet broker is a criminal.
Contact details and papers of Prime Capital
Studying the information on Primecapital.pro, our experts found a lot of dubious digital white papers that can be easily made using a graphic editor. They are not confirmed by official organizations, which means they cannot be trusted.
If an Internet broker is not associated with regulatory firms, then its clients simply have nowhere to turn for help.
On the "Contacts" page, our employees 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.
Studying the user agreement on the Prime Capital website, our employees did not find clear information about the methods of withdrawing funds. We also saw a description of penalties for a long inactivity of a personal account, while we did not find information about the amounts. Since criminals do not operate in the legal field, these fees cannot be canceled.
Because of this, if a client stops working with Prime Capital, they can call and write messages demanding to pay the fine.
How does Prime Capital work?
The method of finding clients that Prime Capital uses is also suspicious.
The advertising uses false social media accounts in which fake people spread information about how they quickly managed to get rich working on Forex through Prime Capital. Non-existent people demonstrate expensive cars and real estate, trips to resorts and other indicators of a rich life.
Non-existent people promise instant income, for which you do not need to learn or put a lot of effort.
If a trader comes into contact with scammers, Prime Capital employees confirm the reality of instant income, and in addition about some unique features of their services that will allow you to immediately get a big income.
Further, various tricks are used, which make it possible to receive the maximum number of deposits from the trader. For example, a client can draw a fake profit to provoke the transfer of even more money.
When trading on the Forex market is unprofitable, the personal manager will recommend transferring more in order to cover the losses.
Prime Capital employees work according to manuals created by experienced scammers. They study user information in order to influence specific places, lure even more investment.
One way or another, everything will come to one end:
- If you are going to withdraw funds before you find yourself in debt, you will be fined, prohibited from using the money invested, and will do everything to force you to pay more;
- When you allow the bandits to drive the balance into a loan, threats will begin, the criminals will demand to pay a fake loan.
Another way to make a profit for Prime Capital can be the sale of your confidential data to interested organizations. Most likely, after that, complete information about you can be purchased for a moderate amount of money on an anonymous Telegram channel on the darknet.
Surely, after that, all kinds of bandits, sellers, etc. will call you. It is also worth waiting for calls from Primecapital.pro accomplices, who will offer to “receive” lost investments, of course, for a reward.
Since Prime Capital does not operate in a regulated field and preserves incognito, Primecapital.pro cannot be forced to answer under the law in the UK. The leaders of the fraudulent company are cleverly disguised and, at best, law enforcement will be able to catch one of the “employees”.
Can I work with Prime Capital?
Only if you are going to give money to scammers, then spend it on charity.
Let's briefly list the facts saying that Prime Capital are bandits:
- Lack of official registration;
- No trial period;
- Lack of information about the owners of the organization;
- Phone number found in illegal schemes;
- Negative balance;
- Credit ratio greater than one to 50;
- Bad reviews;
- False data on the site.
Our review of Prime Capital is over. Obviously, Prime Capital are scammers.