Prime Capital broker review. Forex fraudsters
03 / April / 22 Visitors: 375
Broker Prime Capital, which operates in the UK, is a scam with a tainted reputation.
When we go to the official website of Prime Capital - Primecapital.pro, we will find that our organization offers intermediary services for operations in the Forex financial market in Britain. Prime Capital also offers software for financial transactions.
Our experts analyzed the official website of Prime Capital, got acquainted with the working conditions, tried to get at least demo access to the services, looked at the existence of documents, the region of registration of the organization.
With this information, we will find out: Is Prime Capital a scam or not?
In addition, we will tell you how not to get into the networks of deceivers, about their work algorithms. We will tell you the information you need to keep your investments safe.
Prime Capital organization based offshore
The first signal indicating that Primecapital.pro are criminals is the state of registration. The organization is officially registered in the Republic of the Marshall Islands, which is already suspicious, since it operates in England. Offshore states attract the attention of swindlers due to the lack of laws and executive power.
Also, this state does not have the rights to operate in the Forex financial market.
In addition, when our specialists tried to find the real address, information about the owners and management of Primecapital.pro, they could not find anything.
This already hints that Prime Capital is a fake broker, cooperation with which will result in significant financial losses.
No information found about the owners of Primecapital.pro
After analyzing the website, our experts could not find any truthful information about the owners of the Prime Capital organization. No physical address, no telephone or other methods to get in touch.
We assume that this means that the leaders are trying to hide information about themselves in order to hide from punishment for their crimes. If you manage to contact one of the employees of Prime Capital, then everything will end with this, and the real owners of the fraudulent organization will remain at large.
Prime Capital, website - Prime Capital, is less than a month old
The website of Prime Capital talks about serious experience of operations in the Forex market.
The main way to check a site is to obtain information about its domain name. Basically, they indicate the validity period of the domain, information for contacting its owner.
In a particular case, the Primecapital.pro domain exists for less than 30 days, and information about the legal entity that owns it is classified. Another evidence that the organizers of Prime Capital are trying to preserve their incognito.
Such a desire can be understood, but not when it comes to a company acting as an intermediary between a trader and the Forex market.
In addition to this, Primecapital.pro themselves assure users that they have been trading Forex successfully for many years.
Primecapital.pro does not have a demo period
It is a normal practice for brokers to provide traders with a demo version of services so that they can familiarize themselves with the interface, try out their capabilities in operations on the Forex financial market with fake money.
Unfortunately, on the website Primecapital.pro, we could not find information about the demo period, the opportunity to try out the software.
We assume that the directors of the Prime Capital organization are simply not going to give traders test access to their service, as someone is able to suspect something is wrong.
Online broker Primecapital.pro works with a negative account
Legal organizations that trade on the Forex market do not use a negative balance in their work. In accordance with the laws, a trader of an Internet broker cannot spend more than what is currently on the balance sheet. In those situations when the account still goes into negative territory, it is not the client who must repay the debt, but the company that provided the services.
Therefore, honest brokers do not use a negative balance in their work.
And yet, Primecapital.pro gives traders a job with a negative account, that is, in debt.
What is it for?
In order to drive the client into a loan and demand a loan. This is one of the most common methods of fraud used by financial bandits.
If this has already happened, you need to remember that scammers have no way to recover money in accordance with UK law. All methods of pressure on traders are illegal. The maximum that criminals can do is call, send letters with threats.
It is impossible to cooperate with Primecapital.pro, as any agreements will result in new losses.
Prime Capital operate with a leverage of 1:400 or more
At this point, it becomes obvious that Prime Capital are criminals. However, let's pay attention to one nuance, namely the presence of excessively high leverage.
Leverage is the ratio of money users and online brokers make when making a deal. Leverage allows significant trading to be carried out by users who do not have sufficient funds available.
To protect users of the Forex market, in developed countries, the current legislation provides for the use of leverage with a maximum ratio of one to thirty, in rare cases fifty.
At the same time, Prime Capital uses a leverage of 1 to 400 for trading on the Forex market.
Such an attitude is legalized in Switzerland, since firms registered in this country enjoy great confidence. But Prime Capital is not registered in this country.
In fact, Prime Capital is not authorized to operate in the Forex market with such a credit ratio, due to the high risk to clients. Actually, this is used solely to force the trader not only to invest as much of his finances as possible, but also to drag him into loans.
Local divisions of Prime Capital
It is considered solid for every organization to have regional offices in developed regions, even if the work takes place only in the UK. Therefore, Prime Capital reports that in addition to many awards, they have local divisions in the UK, Australia and other civilized countries, and in addition about many competent specialists.
Checking the reality of these departments is elementary. Since specialized structures are known that regulate the activities of online brokers. In the UK it's FCA, in Australia it's ASIC.
Therefore, a legal organization must have official papers from these or other organizations that will prove their ability to provide Forex trading services, indicate the degree of responsibility.
However, having studied the specialized websites, we did not find them. Which once again confirms our fears.
For registration on Primecapital.pro, you must transfer personal data
As we reported earlier, Prime Capital does not have a test period, and therefore, in order to gain access, you must immediately transfer the minimum deposit to Prime Capital bandits. In addition, access to Primecapital.pro's personal account is possible only upon successful completion of identity verification.
This means that Prime Capital requires users to provide information such as:
- Information about an individual (passport, etc.);
- Information about the permanent place of residence (payments for a communal apartment);
- Information about the place of work, qualifications, experience.
In addition, during the initial payment, scammers are able to access bank card data.
Together, this information can enable gangsters to get a loan for a deceived user, or to carry out other criminal actions.
Since you need to transfer your confidential data to register on the Primecapital.pro website, our specialists did not get access to the Prime Capital personal account and Forex trading applications.
Real reviews about Prime Capital
A very important step in exposing Prime Capital is the analysis of traders' feedback.
A detailed study of the search results on the Internet allowed us to obtain the following information:
- Most of the reviews and mentions of Prime Capital on the Internet are lies. These are similar positive mentions of the paid type;
- All real mentions and comments about Prime Capital are bad. Our experts could not find reliable references and comments from users of Primecapital.pro, which would mention decent earnings, successful trading.
- Bad reviews are caused by illegal activities, theft of finances, creation of credit.
Because of this, reviews on Prime Capital report that the internet broker in question is a culprit.
Contact details and papers of Prime Capital
Analyzing the data on Primecapital.pro, our staff found a lot of dubious digital papers that can be easily done with the help of a graphics editor. They are not confirmed by official organizations, which means that they cannot be trusted.
If an Internet broker is not associated with regulatory companies, then traders 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 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 the financial market Forex online broker? Make sure you can take money from him.
Having studied the trading agreement on the official website of Prime Capital, our employees did not find clear information about the methods of withdrawing money. In addition, we found a description of the punishments for a long period of inactivity of the account, but did not find data on the amounts. Since the criminals do not operate in the official field, it is impossible to challenge these fines.
Because of this, if the user has ended cooperation with Prime Capital, they can disturb with calls and send messages demanding to pay a fine.
How does Prime Capital work?
The method of searching for new users, which Prime Capital uses, also raises concerns.
For promotion, fake profiles on social networks are used, in which non-existent users spread information about how they instantly managed to get rich by earning on Forex with the help of Prime Capital. Non-existent people show expensive cars and houses, holiday resorts and other signs of a prosperous life.
Fakes guarantee instant income growth, for which you do not need to learn or put a lot of effort.
If a potential user gets in touch with them, Prime Capital employees confirm the reality of instant profit, and in addition about the unique features of their software, which will allow you to quickly earn serious earnings.
Then all sorts of tricks are used to get as many deposits from the trader as possible. For example, a fake profit may be drawn to a client in order to inspire them to invest even more money.
When Forex trading is negative, the manager will offer to transfer more to compensate for the negative.
Prime Capital employees act according to the methods created by experienced psychologists. Fraudsters analyze customer data in order to put pressure on vulnerabilities and lure out more money.
In any case, it all comes down to one of the results:
- When you want to receive investments before you find yourself in loans, you will be charged fees, banned from using the account, and will do everything to force you to transfer even more;
- When you give the opportunity to fraudsters to drive the balance on credit, threats will fall, scammers will begin to extort the return of a fictitious loan.
Another method to earn income for Prime Capital can be the sale of your personal data to third parties. We assume that, after that, information about you can really be bought for a small amount on some anonymous service on the shadow Internet.
It is likely that after that various swindlers, managers, etc. will start writing to you. In addition, it is worth waiting for letters from Prime Capital's accomplices who will offer the "return" of lost deposits, of course for a fee.
Since Prime Capital does not work in the legal field and remains incognito, they cannot be forced to answer under current laws in the UK. The owners of the criminal organization are skillfully hiding and, at best, law enforcement agencies will be able to catch one of the "workers".
Can Prime Capital be trusted?
It is forbidden!
Only if you plan to transfer finances to the bandits, then spend them on a good cause.
Let's briefly list the evidence saying that Prime Capital are scammers:
- Lack of official registration;
- No test period;
- There is no information about the owners of the organization;
- The phone was found to be fraudulent;
- Negative balance;
- Leverage greater than one to 50;
- Negative reviews;
- False information on the website.
This completes the review of Prime Capital. It is clear that Prime Capital are scammers.
For your safety, we have compiled a complete list of unscrupulous brokers.