Prime Capital are scammers. Forex broker review
Online broker Prime Capital, which operates in the UK, is considered a fraud with a tarnished reputation.
If we go to the official website of Prime Capital - Primecapital.pro, we will find out that this company provides services for operations in the Forex financial market in Britain. In addition, Prime Capital provides services for financial transactions.
Our employees analyzed the Prime Capital website, got acquainted with the terms of action, made attempts to get test access to the software, studied the existence of securities, the region where the company was registered.
With the help of this information, we will find out: Is Prime Capital a scam or not?
In addition, we will explain to you how not to fall into the trap of scammers, about their methods of action. We will give you all the information you need to keep your finances safe.
Prime Capital is based in an offshore country
The main sign indicating that Primecapital.pro is a scam is the country of registration. According to the documents, the company is registered in the Marshall Islands, which is already suspicious, since the company operates in the UK. Offshore regions are popular with scammers due to the lack of legislation and control.
In addition, this region does not have the authority to trade on Forex.
In addition, when we tried to find the physical or legal address, data on the owners and management of Primecapital.pro, we could not find anything.
This suggests that Prime Capital is an illegal online broker, interaction with which will result in serious financial losses.
No information was found about the owners of Prime Capital
After examining the website, our experts could not find any truthful information about the organizers of the Prime Capital organization. No physical or legal address, no telephone or other means to get in touch.
We think that this means that the real directors are trying to hide their identity in order to hide from responsibility for their crimes. If you manage to reach out to one of the managers of Prime Capital, then everything will end there, and the heads of the fraudulent company will remain free with the money.
Prime Capital, official website - Prime Capital, is less than a month old
The website of Prime Capital talks about serious experience in the Forex market.
The main way to check any website is to get information about its domain name. Most often, they indicate the validity period of the domain name, data for the owner's connection.
In our case, the Primecapital.pro domain name works for less than thirty days, and the information about the person who owns it is hidden. Another proof that the owners of Prime Capital are trying to maintain anonymity.
Such a desire can be supported, but not when it comes to a company working as an intermediary between the client and the Forex market.
In addition to this, Prime Capital assure their potential users that they have been working effectively in the Forex market for many years.
Prime Capital does not have a demo period
It is a normal practice for online brokers to give users a test version of their services so that they get acquainted with the interface, try their hand at playing the Forex financial market with virtual currency.
Unfortunately, on the website Primecapital.pro, we did not find data on the demo period, the opportunity to try out the software.
We think that the owners of Prime Capital are simply not going to provide clients with test access to paid software, as some of them may begin to suspect fraud.
Broker Primecapital.pro operates with a negative balance
Legal firms that operate in the Forex financial market do not use a negative account in their activities. By law, the user of an Internet broker is not able to spend more than he currently has on his account. In situations where the balance still goes negative, the loan will have to be repaid not by the user, but by the organization that offered its services.
Therefore, registered Internet brokers do not use a negative balance in their work.
Nevertheless, Primecapital.pro provides its clients with work with a negative account, that is, on credit.
What is it for?
In order to drive the client into debt and demand to repay the loan. This is one of the most popular fraud methods used by criminals.
If this has already happened, you need to know that the deceivers have no way to knock out finances in accordance with the laws of Britain. Absolutely all methods of pressure on you are illegal. The most that bandits are capable of is calling, sending messages with demands.
It is impossible to cooperate with Prime Capital, as any agreements will result in new expenses.
Primecapital.pro operate with a credit ratio of one to four hundred or more
Already, it becomes clear that Prime Capital are scammers. And yet, let us point out one more fact, namely the existence of an excessively large credit ratio.
Leverage is the ratio of the finances of users and brokers when making a deal. It makes it possible to conduct large transactions for clients who do not have access to large amounts of money.
To protect users of the Forex market, in civilized regions, the current laws require the use of leverage with the highest ratio of one to thirty, sometimes 50.
At the same time, Prime Capital uses a leverage of one to four hundred for trading operations in the Forex financial market.
This ratio is allowed in Switzerland, since companies registered in this country enjoy high confidence. But Prime Capital is not registered in this state.
In fact, Prime Capital is not authorized to operate in the Forex market with such leverage, due to the high risk to users. Accordingly, this is done in order to force the user not only to give as much money as possible, but also to drive him into debt.
Regional offices of Prime Capital
It is considered important for every financial organization to have regional divisions in developed countries, even if the activity is carried out exclusively in England. Therefore, Prime Capital says that in addition to a large number of awards, they have regional offices in England, Australia and other civilized countries, as well as many qualified specialists.
Checking the existence of these offices is quite simple. After all, there are industry organizations that regulate the work of online brokers. In the UK it's FCA, in Australia it's ASIC.
Because of this, a legal firm is required to have permits from these or other organizations that will confirm their ability to provide services for trading operations on the Forex market, determine the level of responsibility.
However, after reviewing the industry sites, our experts could not find them. Which once again confirms the suspicions.
For registration on Primecapital.pro, you need to transfer personal data
As we said earlier, Prime Capital does not have a demo period and, accordingly, in order to gain access, you must immediately pay the minimum deposit to Prime Capital scammers. Also, creating a Primecapital.pro personal account is really only upon successful completion of identity verification.
This means that Prime Capital requires users to provide information such as:
- Data about an individual;
- Data on the permanent place of residence (scans of utility bills);
- Information about qualifications, length of service, place of work.
Also, with the first payment, scammers can get access to card information.
In combination, this data can enable scammers to issue a loan to a gullible user, or carry out other criminal activities.
Since for registration on the Primecapital.pro website, you need to transfer your personal information, our specialists did not get access to the Prime Capital personal account and services for transactions on the Forex market.
Reviews on Prime Capital
A very important point of exposing Prime Capital is the study of customer reviews.
The analysis of search results on the Internet allowed us to obtain the following data:
- Most of Prime Capital's online reviews are fake. These are the same type of positive mentions of a paid character;
- All true reviews and references to Prime Capital are bad. Our employees were unable to find reliable reviews and comments from former clients of Primecapital.pro, which would talk about serious earnings, effective trading.
- Negative mentions are caused by fraudulent activities, theft of money, special creation of debt.
In accordance with this, real reviews about Prime Capital say that this broker is a scammer.
Contact details and papers of Prime Capital
After analyzing the information on Primecapital.pro, our staff found a lot of dubious digital official papers that can be easily done using a graphic editor. They are not confirmed by official companies, which means they cannot be trusted.
If the broker is not associated with regulatory companies, then traders simply have nowhere to turn for help.
On the "Contacts" page, we 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 the help of an online Forex broker? Make sure that you can take away investments from him.
After analyzing the user agreement on the Prime Capital website, we did not find specific information about the methods of withdrawing earnings. In addition, we identified the mention of requisitions for a long period of inactivity of a personal account, while we did not find information about their size. Since the bandits do not work in the legal field, it is impossible to challenge these extortions.
Therefore, if a client has completed cooperation with Prime Capital, they may receive calls and spam with a demand to pay a fine.
How does Prime Capital operate?
The method of searching for new users, which Prime Capital uses, also raises concerns.
For promotion, fake social media accounts are used, in which fake users spread information about how they instantly managed to get rich by trading on the Forex market with the help of Prime Capital. Advertising profiles show expensive cars and clothes, holidays in resorts, and other manifestations of a prosperous life.
Non-existent people promise instant earnings, for which you do not need to learn or put a lot of effort.
When a potential trader gets in touch with scammers, Prime Capital managers talk about the reality of instant income, and also about the unique abilities of their programs, which will make it possible to quickly withdraw a solid profit.
After that, all sorts of tricks are used to make it possible to get the maximum investment from the client. For example, you can create a fake profit in order to provoke the transfer of even more money.
When work on Forex becomes negative, the manager will offer to invest more in order to compensate for the debt.
Prime Capital employees work on algorithms that were developed by experienced scammers. They study user data in order to put pressure on weaknesses and get more money.
As a result, it all boils down to one of the results:
- If you decide to withdraw your money before you are in the red, you will be charged fees, freeze your assets, and do everything to force you to pay more;
- If you let the gangsters take the account on credit, threats will begin, the bandits will start extorting the return of the fake loan.
An additional way to make money for Prime Capital can be the sale of your personal data to third parties. We assume that after that, information about you will be available for a modest amount on some anonymous telegram channel on the darknet.
Surely, after that, various swindlers, sellers, etc. will start calling you. You can also wait for letters from Prime Capital's accomplices who will offer the "return" of lost deposits, of course for a reward.
Since Prime Capital does not operate in the official field and remains anonymous, they cannot be forced to respond under current laws in the UK. The heads of the criminal company are diligently hiding and, at best, the police will be able to catch one of the "administrators".
Should Prime Capital be trusted?
In no case!
Only if you are going to give finances to criminals, then spend them on a good cause.
Let's briefly list the evidence indicating that Prime Capital are bandits:
- Lack of official registration;
- No trial period;
- There is no data on the owners of the firm;
- Phone number seen in fraudulent schemes;
- Negative score;
- Credit ratio over 1 to 50;
- Bad reviews;
- False information on the site.
Detailed review of Prime Capital - completed. Obviously, Prime Capital are scammers.