Our honest Prime Capital broker review covers all the essential information, including Prime Capital’s regulation, minimum deposit, platform, and more.
We also recommend that you read our recently updated reviews of scam brokers. No doubt your funds are at risk with them!
|Broker Status:||Unregulated Scam Broker|
|Regulated by:||Unlicensed Trading Company / No Regulation|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Incendiary Group LTD|
|Headquarters Country:||Commonwealth of Dominica|
|Online Trading Platforms:||WebTrader|
|Mobile Trading:||Available via Web Browser / No Mobile App|
|Deposit Bonus:||Up to 20%|
|Crypto Asset Trading:||Not Available|
|CFD Trading Option:||Yes, you can trade CFDs|
|Available Trading Instruments:||Forex (FX) / Commodities / Shares / Metals / Energies|
|Islamic Account:||Not Available|
|Free Demo Account:||Yes|
|Accepts US Clients:||US traders are accepted|
|Fake Broker Watch Dog’s Verdict:||Don’t Invest in This Scam Broker!|
Prime Capital Regulation – No Regulatory Oversight
Prime Capital broker is a brand of Incendiary Group Ltd from the Commonwealth of Dominica. The same company owns two other brands – MeteorTrade and InfluxFinance, with the latest one being blacklisted by the German BaFin.
Therefore, Prime Capital Forex firm is suspicious and should be investigated further.
What’s Wrong With A License? – Fake Trading Firm
It turns out that Incendiary Group Ltd is just a fake name, sharing an address with numerous other scam firms, including EagleFx, InvestBoost, and more. All these firms are fictive, hiding the real scam.
Of course, the firm has no regulation with any Tier1 regulator, including FCA, ASIC, and BaFin.
Now it’s clear that the Prime Capital trading scam is just that – a fraud.
Where Do Prime Capital Scam Victims Live?
According to Prime Capital complaints, we can conclude that the broker is mainly active in:
Yet, there are no restricted areas, so be quite careful.
In addition, we urge you to be extra vigilant with unregulated brokers, such as SkyShell Trading , Oriontero and AlfaPrime Markets.
How Do Scammers Contact Their Victims?
Prime Capital reviews show that the broker has numerous ways of contacting existing and potential customers.
Basically, those who have registered with this firm or other Incendiary Group Ltd brands are contacted via emails and WhatsApp messages. And when we say contacted, we mean spammed. You will constantly receive new offers, alleged promotions, updates about Prime Capital bonuses, etc.
Those who have not signed up yet might be approached via social media, such as Instagram and Facebook, or even dating platforms.
We’ve learned that the company is creating profiles on Tinder, Bumble, and other dating platforms, and the love prospect is convincing victims to send the money to them or directly to the scam broker, saying “it changed their lives.”
Prime Capital Platform Review – Trading Software
When it comes to the Prime Capital trading platform, we cannot say we were astonished. The broker offers regular WebTrader with fewer charts and indicators than you would get with MT4 or MT5. Besides, the leverage is unregulated and goes up to 1:300, while the spread is not disclosed.
Mobile Trading App
Prime Capital login is enabled via desktop and mobile apps, which is convenient. However, these apps are based on the WebTrader, making the experience not as quality.
Which Products Does Prime Capital Offer? – Trading Assets
Surprisingly, the offer of trading instruments is quite limited. Clients can trade with:
- Currency pairs (Forex)
- Commodities such as Metals and Energies
- Shares such as Netflix, Google, Xiaomi
There are no indices or cryptocurrencies, which is a significant disadvantage.
Prime Capital Trading Accounts – Demo & Real Accounts
Clients can choose from 3 trading account types:
- Initial Account – Minumum deposit $250
- Shallow – $3,000
- Deep – $10,000
The main difference between Deep and the other two account types is that the Deep account gives higher bonuses, priority withdrawals, a higher margin level, and more tradable instruments.
Besides Live accounts, there’s a Prime Capital Demo account. Instead of investing in Prime Capitals’ minimum deposit right away, clients can explore the platform first. Note that Demo is just a lure, as virtual money can never be compared to investing real money.
What Can Prime Capital Scam Victims Do?
If you were a victim of the Prime Capital scam, you should file a dispute immediately. When it comes to finances, time is crucial. The sooner you file a complaint, the higher are your chances of getting a refund. Some refund methods, such as chargeback, are time-limited, so you must act fast.
Contact us via online chat to book a FREE consultation with our experts, and we will evaluate your case honestly. Act now and get your funds back before it’s too late!