Prime Capital broker are scammers. Forex divorce review
By The Forex Review - 03 / April / 22 520
Dominick Bell
Broker Prime Capital, which operates in Britain, is considered a scammer with an unclean reputation.
If we go to the official website of Prime Capital - Primecapital.pro, we will read that the company under study offers brokerage services for trading operations on the Forex financial market in the UK. Prime Capital also provides services for trading activities.
Our experts researched the official website of Prime Capital, got acquainted with the terms of action, made attempts to get demo access to the software, analyzed the availability of official documents, the region where the organization was registered.
With the help of this information, we will understand: Is Prime Capital a scam or not?
In addition, we will explain to you how not to fall for the hook of deceivers, about their methods of operation. We will tell you the necessary information to keep your money safe.
The Prime Capital organization is located in an offshore region
A serious call, which indicates that Prime Capital are scammers - the state of residence. Documentally, the company is registered in the Marshall Islands, which is already doubtful, since Prime Capital operates in Britain. Offshore countries are popular with criminals due to the lack of laws and executive power.
In addition, this country does not have rights to operate in the Forex financial market.
In addition, when our experts tried to find a legal address, references to the owners and management of Prime Capital, they could not find anything.
This is already demonstrated that Primecapital.pro is a shadow broker, cooperation with which will result in serious financial losses.
No information found about the organizers of Prime Capital
After analyzing the site, our experts could not identify reliable information about the organizers of the Prime Capital organization. No address, no phone numbers or other methods to get in touch.
Usually, this means that real directors try to hide information about themselves in order to elude punishment for their actions. And even if you manage to find one of the employees of Prime Capital, then everything will end there, and the real leaders of the shadow company will remain at large.
Prime Capital, the official website - Prime Capital, is valid for less than thirty days
The website Primecapital.pro talks about significant experience in the Forex market.
The most common method of studying a website is to obtain information about its domain. As a rule, they contain the age of the existence of a domain name, information for contacting its owner.
In a particular case, the Prime Capital domain name has been around for less than one month, and the details of the individual who owns it are hidden. Another evidence that the owners of Prime Capital are trying to maintain their anonymity.
This desire can be accepted, but not when it comes to a financial company working as an intermediary between the user and Forex.
At the same time, Primecapital.pro themselves assure users that they have been working effectively in the Forex market for a long time.
Primecapital.pro does not have a demo period
It is normal practice for brokers to give users a demo version of the software in order for them to familiarize themselves with the interface, to test the possibilities in Forex transactions with fake currencies.
Unfortunately, on the Primecapital.pro website, we could not find any mention of a test period, the ability to test programs.
Probably the management of Prime Capital is simply not going to provide users with test access to the software, as someone may suspect fraud.
Online broker Prime Capital operates with a negative balance
Official organizations that operate in Forex do not use a negative account in their activities. By law, a broker user cannot spend more than what is currently on his balance sheet. In those situations when the account goes into a negative value, its debts will have to be repaid not by the trader, but by the company that provided the services.
Because of this, official online brokers do not use a negative account in their work.
However, Prime Capital provides clients with Forex operations with a negative balance, that is, on credit.
Why is it necessary?
To drive the client on credit and pay off the debt from him. This is one of the most common methods of deception used by scammers.
If this has already happened, you need to know that scammers do not have the opportunity to recover investments under the law of England. All methods of influencing users are illegal. The most that scammers are capable of is calling, sending threatening letters.
It is impossible to cooperate with Primecapital.pro, as all agreements will turn out to be losses.
Prime Capital work with a credit ratio of 1 to 400 or more
At this point, it's obvious that Prime Capital are scammers. However, let's pay attention to one more nuance, namely the presence of excessively high leverage.
Leverage is the ratio of the finances of traders and online brokers when making a deal. Leverage allows traders who do not have sufficient funds to make large trading operations.
In order to protect users of the Forex financial market, in developed countries, the current legislation provides for the use of leverage with a maximum ratio of one to 30, in rare cases 50.
At the same time, Prime Capital uses a leverage of one to 400 to make money on Forex.
This relationship is legalized in Switzerland, as companies registered in this state enjoy great confidence. However, Prime Capital is not registered in this country.
In fact, Prime Capital cannot conduct operations in the financial Forex market with such a credit ratio, due to the high risk for users. Accordingly, this is done in order to force the client not only to give as much of his own funds as possible, but also to drag him into loans.
Local divisions of Prime Capital
It is considered prestigious for every organization to have local offices in developed countries, even if the work takes place exclusively in Britain. Therefore, Prime Capital reports that in addition to many awards, there are local offices in Britain, Australia and other developed countries, and in addition about a large number of competent employees.
Checking the availability of these branches is quite simple. Since there are specialized structures that regulate the work of Internet brokers. In the UK it's FCA, in Australia it's ASIC.
Accordingly, an official firm must have official documents from these or other organizations that will prove their right to provide services for making money on the Forex financial market, and determine the level of responsibility.
However, after analyzing specialized web sites, our specialists could not find them. This once again reinforces our suspicions.
For registration on Primecapital.pro, you must transfer personal data
As we said earlier, Prime Capital does not have a test period and because of this, in order to gain access, you must immediately pay the Prime Capital gangsters the minimum payment. In addition, access to Primecapital.pro's personal account is possible only upon successful completion of user verification.
This means that Prime Capital requires clients to provide information such as:
- Information about an individual (passport, birth certificate);
- Information about the permanent place of residence (payments for a communal apartment);
- Data about qualifications, experience, place of work.
In addition, with the initial payment, the bandits are able to access personal account information.
As a result, this information may allow gangsters to issue a loan to a client, or carry out other illegal actions.
Since for registration on the official website of Primecapital.pro, it is necessary to send personal information, our employees could not get access to Prime Capital's personal account and applications for trading operations in the Forex market.
Reviews on Prime Capital
The most important step in exposing Prime Capital is the analysis of customer reviews.
A detailed analysis of the search results on the Internet allowed us to obtain the following data:
- Most of the reviews and mentions of Prime Capital on the Internet are fake. These are template positive mentions and paid-type comments;
- All real reviews and comments about Prime Capital are bad. We were unable to identify true references and comments from former clients of Primecapital.pro, which would mention big earnings, efficient trading.
- Negative mentions and comments are related to criminal activities, theft of investments, artificial creation of credit.
Because of this, real reviews of Prime Capital suggest that the internet broker in question is a scam.
Contact details and official papers of Prime Capital
Analyzing the data on Primecapital.pro, our staff has identified many dubious digital documents that can be easily created using a graphic editor. They are not confirmed by official organizations, which means they cannot be trusted.
If a broker is not associated with regulatory firms, then its traders simply have nowhere to turn for help.
On the "Contacts" page, we saw a phone number. It turned out that it had already been used by an illegal 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 you can take money from him.
After reviewing the trading agreement on the Prime Capital website, our specialists did not see available information on the withdrawal methods. At the same time, our experts found a mention of fines for a long period of inactivity of the account, but there was no information about their size. Since the criminals do not operate in the official field, it is impossible to challenge these exactions.
Because of this, even if the user has finished working with Prime Capital, they can start calling and spamming demanding to pay the fine.
How does Prime Capital work?
The method of finding clients that Prime Capital uses also raises concerns.
For promotion, fake social media accounts are used, in which fake people talk about how they instantly managed to make a profit working in the Forex market with the help of Prime Capital. Bots expose expensive cars and real estate, travel to resorts, and other indicators of a prosperous life.
Fakes promise instant profit growth, for which you do not need to learn or put in a lot of effort.
If a potential trader comes into contact with scammers, Prime Capital managers talk about the possibility of instant income, and also about the unique features of their programs, which will allow you to earn serious money right away.
After that, all sorts of tricks go into work, making it possible to get the maximum amount of investment from the trader. For example, a fake profit may be created for the user to inspire them to transfer more deposits.
If the work on the Forex market is negative, the company representative will recommend transferring even more in order to compensate for the debt.
Prime Capital employees work according to the methods developed by professional manipulators. Scammers analyze customer data in order to influence weaknesses and get more finances.
One way or another, everything will come down to one of the results:
- If you decide to withdraw your investment before you find yourself in debt, you will be penalized, your assets will be frozen, and everything will be done to force you to transfer more;
- When you allow the bandits to drive the balance into a minus, threats will go, scammers will begin to demand the return of a fake loan.
Another way to make money for Prime Capital can be selling your confidential information to third parties. Probably, as a result, comprehensive information about you can be bought for a moderate amount on some anonymous Telegram channel on the shadow Internet.
Surely, as a result of this, various scammers, managers, etc. will call you more often. You can also expect letters from Prime Capital's colleagues who will begin to offer a "return" of lost money, of course for a fee.
Since Prime Capital does not operate in the legal field and remains incognito, Primecapital.pro cannot be forced to answer under the law in Britain. The leaders of the criminal firm are carefully hiding and, at best, the police will be able to catch one of the "administrators".
Can Prime Capital be trusted?
It is forbidden!
Only if you plan to transfer money to scammers, then give it to a good deed.
Let's briefly list the evidence that suggests that Prime Capital are criminals:
- No official registration;
- No demo period;
- Lack of information about the owners of the organization;
- Phone found in illegal fraud;
- Negative account;
- Leverage more than one to fifty;
- Bad reviews;
- False information on the website.
This completes the review of Prime Capital. It is clear that Prime Capital are criminals.
For your safety, we have compiled a blacklist of brokers.
