Forex scam from Prime Capital broker
Online broker Prime Capital, which operates in the UK, is considered a scam with tarnished notoriety.
If we go to the official website of Prime Capital - Primecapital.pro, we will read that this company provides brokerage services for Forex trading operations in Britain. In addition, Prime Capital provides services for financial activities.
Our employees analyzed the website of Prime Capital, got acquainted with the terms of action, tried to get at least demo access to the services, examined the availability of documents, the place of registration of the company.
With the help of the information received, we will find out: Is Prime Capital a scam or not?
We will also explain to you how not to fall for the bait of scammers, about their ways of working. We will tell you all the information you need to keep your finances safe.
Prime Capital firm based offshore
The main signal that indicates that Prime Capital is criminals is the state of residence. The company is officially registered in the Republic of the Marshall Islands, which is already in doubt, since Primecapital.pro operates in the UK. Offshore countries attract the attention of scammers due to the lack of laws and executive power.
Moreover, this state does not have the authority to trade on Forex.
Also, when our specialists tried to find the legal address, mentions of the owners and directors of Primecapital.pro, they failed to find anything.
This shows that Primecapital.pro is an illegal broker, interaction with which will result in significant financial losses.
No information found about the owners of Prime Capital
Having examined the official website, we have not been able to find reliable data about the organizers of the organization Primecapital.pro. No physical address, no phone numbers or other means of contact.
This probably means that the current owners are trying to hide their identities in order to hide from responsibility for crimes. If you manage to find one of the managers of Prime Capital, then everything will end there, and the directors of the criminal organization will remain at large.
Prime Capital, official website - Primecapital.pro, is less than 30 days old
Prime Capital's official website speaks of extensive experience in the Forex market.
The most common way to study any web site is to get data about its domain name. Most often, they indicate the validity period of the domain, data for the owner's connection.
In our case, the Primecapital.pro domain exists for less than 30 days, and all data about the person who owns it is classified. Another proof that the director of Prime Capital is trying to keep his incognito.
Such a desire can be supported, but not in those cases when it comes to a company acting as an intermediary between the user and the Forex market.
In addition to this, Primecapital.pro themselves assure users that they have been trading effectively on the Forex market for a long time.
Primecapital.pro does not have a demo period
It is normal practice for Internet brokers to give users a demo version of the software so that they can get acquainted with the interface, try their hand at Forex operations with fake currencies.
Unfortunately, on the Primecapital.pro website, we could not find any mention of a trial period, the opportunity to try out the software.
Most likely, the director of Prime Capital, most likely, is not going to provide demo access to paid software to clients, since some of them are able to begin to suspect a scam.
Broker Prime Capital operates with a negative balance
Registered organizations that work on Forex do not use a negative account in their work. In accordance with the laws, an Internet broker trader cannot spend more than what is currently on the balance sheet. In situations where the balance still goes into a negative value, it is not the client who is obliged to pay off his debts, but the company that provided the services.
Therefore, official brokers do not use a negative balance in their work.
And yet, Primecapital.pro gives its traders trading with a negative account, that is, in debt.
What is it for?
To drive the trader into debt and pay off the debt from him. This is one of the most common methods of deception used by financial bandits.
In the event that this happens, you need to know that fraudsters do not have the opportunity to knock out investments under the law of England. Any means of influencing users is considered illegal. The most that the bandits are able to do is call, send messages with threats.
It is impossible to cooperate with Primecapital.pro, since all attempts to reach an agreement will result in losses.
Primecapital.pro operate with a leverage of one to 400 or more
Already now, it is clear that Prime Capital are scammers. Nevertheless, we point out one nuance, namely the presence of an excessively large credit ratio.
The credit ratio is the ratio of the finances of clients and online brokers when making a transaction. Leverage allows you to close large transactions for clients who do not have access to large amounts.
To protect Forex traders, in developed countries, laws provide for the use of leverage with a maximum ratio of one to thirty, sometimes fifty.
At the same time, Prime Capital uses a leverage of 1 to 400 for trading on the Forex financial market.
Such an attitude is permitted in Switzerland, since organizations registered in this state enjoy considerable trust. However, Prime Capital is not registered in this state.
In fact, Prime Capital is not allowed to conduct Forex transactions with such leverage, due to the high risk for clients. Accordingly, this is only used to force the trader not only to transfer as much money as possible, but also to drag him into loans.
Regional offices of Prime Capital
It is considered important for every organization to have local branches in civilized countries, even if the work takes place exclusively in England. So Prime Capital says that in addition to a significant number of awards, they have regional offices in Britain, Australia and other civilized countries, and also about a large number of competent employees.
It is easy to check the reality of these offices. Since there are industry structures that regulate the actions of online brokers. In England, this is FCA, and for example, Australia - ASIC.
Accordingly, a law-abiding firm is required to have official documents from these or other structures that confirm their authorized right to provide services for trading operations on the Forex market, indicate the degree of responsibility.
And yet, after checking the industry websites, we could not find them. Which once again reinforces our fears.
For registration on Primecapital.pro, you must transfer confidential data
As we said earlier, Prime Capital does not have a test period and, accordingly, in order to gain access, you must immediately pay the minimum contribution 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 its clients to provide information such as:
- Information about an individual (passport, birth certificate);
- Information about the permanent place of residence (receipt for utilities);
- Information about the place of work, qualifications, experience.
In addition, during the first transfer, criminals can gain access to personal account data.
As a result, this data can enable scammers to put a credit on a gullible user or carry out other criminal operations.
Since you need to send personal data to register on the Primecapital.pro website, our specialists have not been able to get access to Prime Capital's personal account and programs for making money on the Forex market.
Real reviews about Prime Capital
The most important point of exposing Prime Capital is the analysis of customer reviews.
A detailed study of the search results on the Internet allowed us to obtain the following data:
- Most of the reviews and mentions of Prime Capital online are lies. These are the same positive mentions of a paid character;
- All real references to Prime Capital are negative. Our experts could not find reviews and references from Primecapital.pro clients that mention profit, effective activity.
- Negative mentions are caused by fraudulent activities, theft of funds, deliberate creation of debt.
Because of this, Prime Capital reviews suggest that the online broker in question is a scam.
Prime Capital contact details and documents
Analyzing the information on Primecapital.pro, we have identified many dubious digital documents that can be easily created using a graphic editor. They are not confirmed by official firms, which means they cannot be trusted.
If an online broker is not associated with regulatory firms, then its traders simply have nowhere to turn for help.
On the "Contacts" page, our experts saw 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 the help of a Forex broker? Make sure you can take money from him.
Having studied the client agreement on the official website of Prime Capital, we did not find specific information about the methods of withdrawing funds. At the same time, we identified a description of the penalties for inactivity of a personal account, but did not find information about the sizes. Since the scammers do not operate in the legal field, it is impossible to challenge these fees.
Because of this, even if the client has stopped working with Prime Capital, they may be disturbed by calls and write messages demanding to pay a fine.
How does Prime Capital operate?
The user search method used by Prime Capital also raises concerns.
For promotion, fake social media profiles are used, in which fake people spread information about how they quickly managed to earn income by working in the Forex financial market with the help of Prime Capital. Non-existent people put on display expensive cars and real estate, travel to resorts, and other signs of a prosperous life.
Bots promise instant income, for which you do not need to learn or put in a lot of effort.
If the user gets in touch with them, Prime Capital managers confirm the reality of rapid income, and also about some unique features of their services that allow you to quickly earn serious earnings.
Further, all sorts of tricks are used to get the maximum funds from the client. For example, you may be given fake profits to inspire you to give away even more money.
When trading on the Forex financial market becomes unprofitable, the manager will offer to transfer more in order to close the debt.
Prime Capital employees act according to the manuals developed by professional deceivers. Fraudsters analyze information about the client in order to put pressure on weak points, to lure out even more finances.
One way or another, it all comes down to one of two options:
- When you are going to get money before you find yourself in debt, you will be fined, your assets will be frozen, and everything will be done to make you pay more;
- When you allow the scammers to drive the account into the red, threats will fall, the criminals will begin to demand the return of the fake debt.
Another method to earn income for Prime Capital can be the transfer of your confidential information to interested companies. We assume that, as a result, detailed information about you can be obtained for a moderate amount on some anonymous service on the dark web.
Surely, as a result of this, all kinds of criminals, sales managers, etc. will call you more often. It is also worth waiting for letters from Prime Capital's accomplices, who will begin to offer "receipt" of lost finances, of course for payment.
Since Prime Capital does not operate in an official field and preserves anonymity, Primecapital.pro cannot be forced to respond under current law in the UK. The organizers of the fraudulent organization are skillfully hiding and, at best, the legitimate authorities will be able to arrest one of the "administrators".
Should Prime Capital be trusted?
Only if you plan to give money to scammers, then it is better to transfer them to charity.
Let's briefly list the facts saying that Prime Capital are criminals:
- No official registration;
- No demo period;
- Lack of information about the owners of the organization;
- Phone number found in criminal transactions;
- Negative balance;
- Credit ratio greater than one to 50;
- Negative reviews;
- False information on the website.
Detailed review of Prime Capital - completed. It is clear that Prime Capital are bandits.
We have compiled a complete list of brokers that you cannot work with.