Prime Capital broker review. Forex fraudsters
Broker Prime Capital, which operates in England, is a scammer with an unclean reputation.
If we go to the official website of Prime Capital - Primecapital.pro, we will find out that our company provides intermediary services for working on Forex in England. Prime Capital also offers software for financial transactions.
Our employees explored the Prime Capital website, got acquainted with the terms of operations, tried to get at least test access to the services, analyzed the availability of documents, the region of registration of the organization.
With the help of this information, we will find out: Is Prime Capital a scam or not?
In addition, we will tell you how not to fall into the network of deceivers, about their methods of operation. We provide the information you need to keep your money safe.
Prime Capital organization based offshore
A serious call, which says that Prime Capital is criminals - the state of registration. The company is officially registered in the Republic of the Marshall Islands, which is already suspicious, since the company operates in the UK. Offshore countries attract the attention of scammers due to the lack of legislation and regulation.
Also, this state does not have permissions for Forex activities.
Also, when we tried to find the real address, mentions of the owners and directors of Primecapital.pro, we failed to reveal anything.
This shows that Prime Capital is a criminal online broker, interaction with which will result in significant financial losses.
Lack of information about the management of Prime Capital
After analyzing the official website, our specialists could not find any credible information about the management of Primecapital.pro. No addresses, no phone numbers or other methods to get in touch.
We assume that this means that the current owners are trying to hide information about themselves in order to elude punishment for their actions. If it is possible to identify one of the managers of Prime Capital, then everything will end there, and the real organizers of the criminal organization will remain free with the money.
Prime Capital, official website - Prime Capital, is less than thirty days old
The official website Primecapital.pro talks about the great experience of Forex operations.
The main method of checking any website is to obtain information about the domain name. Basically, they contain the age of the domain, information for contacting the owner.
In a specific case, the Primecapital.pro domain has been operating for less than thirty days, and all data about the person who owns it is hidden. Another evidence that the organizers of Prime Capital are trying to protect their anonymity.
This desire can be understood, but not when it comes to an organization acting as an intermediary between the client and Forex.
At the same time, Prime Capital assures its users that they have been successfully operating in Forex for many years.
Prime Capital does not have a demo period
It is a common practice for brokers to give users a test version of the software so that they can get acquainted with the interface, test their strength in Forex operations with virtual currency.
Unfortunately, on the official website of Prime Capital, we could not find any mention of a test period, the ability to test programs.
We think that the organizers of the Primecapital.pro organization are simply not going to give traders demo access to a paid service, since some of them are able to suspect a scam.
Internet broker Primecapital.pro operates with a negative score
Legal companies that trade on the Forex market do not use a negative balance in their activities. In accordance with the laws, the client of an Internet broker is not able to spend more while currently in the account. In those rare situations when the account still goes into negative territory, the loan will have to be repaid not by the trader, but by the organization that has provided its services.
Because of this, official brokers do not use a negative account in their activities.
Nevertheless, Primecapital.pro offers its users Forex operations with a negative account, that is, in debt.
Why is this needed?
To drive the user into a minus and start paying off the debt. This is one of the most commonly used methods of deception used by financial bandits.
If this has already happened, you need to remember that scammers have no way to recover investments in accordance with UK law. Any methods of pressure on traders are considered illegal. The maximum that scammers are able to do is to disturb with calls, write letters with demands.
You cannot work with Primecapital.pro, as any agreements will result in losses.
Prime Capital operate with a credit ratio of one to four hundred or more
At this point, it's clear that Prime Capital are scammers. However, let us point out one fact, namely the existence of an extremely large credit ratio.
The credit ratio is the ratio of the finances of users and Internet brokers when concluding a transaction. Leverage allows you to close significant deals to clients who do not have access to large funds.
To protect Forex traders, in developed countries, the current laws provide for the use of leverage with the largest ratio of one to thirty, in rare cases 50.
At the same time, Prime Capital applies a leverage of 1 to 400 for Forex operations.
This relationship is legalized in Switzerland, as companies registered in this country enjoy great confidence. But Prime Capital is not registered there.
In fact, Prime Capital is not authorized to operate in the Forex financial market with such a credit ratio, due to the high risk for users. Accordingly, this is done only to force the trader to transfer as much of his own finances as possible, but also to drive him into debt.
Local branches of Prime Capital
It is considered prestigious for any company to have local branches in developed countries, even if the activity takes place exclusively in England. So Prime Capital says that in addition to a significant number of awards, there are local divisions in the UK, Australia and other civilized regions, and in addition about a large number of experienced employees.
Checking the existence of these offices is quite simple. Since specialized organizations are known that control the actions of brokers. In the UK it's FCA, and in Australia it's ASIC.
Therefore, an official company must have official documents from these or other structures that will confirm their permitted right to provide Forex earnings services, indicate the level of responsibility.
And yet, after checking specialized websites, our staff could not find them. This once again reinforces our fears.
To register on Primecapital.pro, you must transfer personal data
As we mentioned earlier, Prime Capital does not have a demo period and therefore, in order to gain access, you must immediately transfer the minimum payment to the Prime Capital bandits. Also, access to Primecapital.pro's personal account is real only upon successful completion of user verification.
This means that Prime Capital requires its users to transfer data such as:
- Information about an individual;
- Information about the permanent place of residence (payments for utilities);
- Information about qualifications, experience, place of work.
Also, with the initial payment, the bandits are able to access the card data.
Together, this information can enable fraudsters to obtain a loan for a deceived client, or to carry out other criminal activities.
Since registration on the Primecapital.pro website requires the transfer of personal information, our specialists did not get access to the Prime Capital personal account and services for trading on the Forex market.
Real reviews about Prime Capital
A very important point of exposing Prime Capital is the study of user reviews.
A detailed study of the issue in search engines allowed us to obtain the following information:
- Most of the reviews and mentions of Prime Capital online are lies. These are positive reviews similar to each other and mentions of a customized nature;
- All real references to Prime Capital are negative. Our experts could not identify plausible reviews and comments from Primecapital.pro clients, which would talk about serious earnings, effective work.
- Bad mentions and comments are caused by illegal activities, theft of investments, artificial creation of debt.
Because of this, Prime Capital reviews report that this online broker is a scam.
Contact information and papers of Prime Capital
Having studied 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 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 experts found a phone number. It turned out that it had already been used by an illegal Internet 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 the financial market Forex online broker? Make sure you can take money from him.
After reviewing the user agreement on the Prime Capital website, we did not find any information available about the ways to withdraw the money earned. In addition, our experts found a mention of penalties for long-term inactivity of the account, but did not find information about their size. Since the bandits do not work in the official field, these fines cannot be canceled.
Because of this, even if the client has stopped working with Prime Capital, they can call and write messages demanding to pay the fine.
How does Prime Capital work?
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 bloggers talk about how they instantly managed to get rich by trading Forex through Prime Capital. Non-existent people show expensive cars and real estate, travel to resorts and other manifestations of a prosperous life.
They guarantee instant income, for which you do not need to learn or put in a lot of effort.
If a client gets in touch with criminals, Prime Capital employees talk about the possibility of instant earnings, as well as some unique features of their services that allow you to immediately withdraw solid earnings.
Further, various manipulations go into work, allowing you to get the maximum amount of money from the user. For example, a client can create a fake profit in order to motivate them to give more money.
If the work on the Forex market becomes unprofitable, the representative of the organization will offer to transfer more to close the losses.
Prime Capital employees work according to manuals developed by qualified psychologists. Scammers analyze information about the trader in order to influence specific places, to get even more money.
As a result, everything will come to one of the results:
- When you are about to withdraw funds before you find yourself in loans, you will be fined, your balance will be frozen, and everything will be done to force you to pay even more;
- If you allow fraudsters to drive the balance into a minus, there will be threats, bandits will extort to pay a fake debt.
Another way to make a profit for Prime Capital could be to sell your personal information to third parties. We assume that, as a result, detailed information about you will be available for a modest amount of money on an anonymous community in the shadow internet.
Surely, because of this, various criminals, sellers, etc. will call you. You can also expect messages from Primecapital.pro accomplices, who will offer a "return" of lost money, of course, for a fee.
Since Prime Capital does not operate in a regulated field and remains incognito, they cannot be forced to answer under the law in England. The heads of the shadow company are diligently hiding and, at best, law enforcement agencies will be able to figure out one of the "administrators".
Should you work with Prime Capital?
It is forbidden!
Only if you plan to give finances to bandits, then it is better to give them to charity.
Let's briefly voice the evidence that Prime Capital is criminals:
- Lack of official registration;
- No demo period;
- There is no information about the owners of the organization;
- Phone number is seen in criminal transactions;
- Negative balance;
- Leverage greater than one in 50;
- Negative reviews;
- False information on the website.
This completes the review of Prime Capital. It is clear that Prime Capital are criminals.
You can check out the full list of brokers to bypass.