ProCapitalMarkets review – 5 things you should know about Procapitalmarkets.com

ProCapitalMarkets review – 5 things you should know about Procapitalmarkets.com

Beware! ProCapitalMarkets is an offshore broker! Your investment may be at risk.

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ProCapitalMarkets is an offshore Forex brokerage registered in St. Vincent and the Grenadines. It provides a web-based trading platform, not the MT4 trading platform, and an extremely generous  leverage of up to 1:200.However, further trading conditions remain unclear. Read the whole review to find out why.

ProCapitalMarkets regulation & safety of funds

On the brokers website we read that the broker brand is owned and operated by a SVG-based company with the name ProCapitalMarkets ltd. Saint Vincent and the Grenadines is a well-known offshore zone and a preferred location for shady brokerage.

We remind readers that the government of SVG has multiple times publicly stated that it does not oversee Forex trading and thus we may safely conclude that the brokerage is not regulated. Furthermore, trading with an offshore, unregulated brokerage hides a lot of risk. There may be commingling which means that the brokerage may commingle together the finances of the firm and the finances of the clients. Furthermore, we had to read through the lengthy terms and conditions in order to find information regarding the address of the brokerage instead of it being posted on the home page of the website which is the common way of presenting corporate information. Such secrecy leads us to suspect that the brokerage wants to hide its offshore location.

However, putting all this aside – the brokerage does purport to provide a web-based trading platform. Unfortunately, there is no demo account available, something which we always consider a dire disadvantage. Without a test-drive traders cannot get acquainted with the trading conditions of the brokerage which is perhaps the most crucial aspect of Forex trading. We do learn that the leverage extended to clients is 1:200 which, however, hides the undesirable risk of losing more than the initial deposit. However, no further information is presented, in fact the website of the brokerage is performs quite poorly when it comes to actually conveying the trading conditions clients might expect and any other prudent corporate information. All in all, we suspect potential clients of the brokerage may be exposed to unnecessary risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

ProCapitalMarkets deposit/withdrawal methods and fees

As is usual with unregulated brokerages – there is no information regarding the available payment methods. Usually brokerages at least support credit cards and bank wire as viable payment gateways.

We did find any worrisome provisions in the terms and conditions of the brokerage. Here is a screenshot:

Many scammers choose not to disclose such information to would-be clients, however, with ProCapitalMarkets states that there is a $30 withdrawal fee, as well as a minimum withdrawal amount of $50. Such provisions are excessive in our view and not in favor of traders. We also did read that tthere is a trading turn over requirement for accounts that have taken advantage of the bonus promotion. Traders should always take notice that bonus promotions go hand in hand with such requirements.  This is why we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as DaxRobot or CryptoContracts where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
ProCapitalMarkets
Broker Rating
1.11star1stargraygraygray

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18 Comments

  1. Barbara Du Toit

    ProCapitalMarkets are scammers. I was sadly convinced to invest 5000 USD, apparently it is now 15000 USD in 6 weeks time.
    all I want back is what I put in. In order to do that I am told I must pay them 10000 USD as insurance, before they will let me have my original funds back.
    Paul Morrison, Andrew miller, Brian Leroy, Peter and more names.
    I did not have time to review them when I received the phone call. I was told 250USD is far to small to receive proper returns. I am also now told that 5000USD is a small amount. They apparently have bigger fish to fry.
    They promised withdrawal is as easy as depositing. withdrawal is not at all possible

    How can these people be reported.

    1. Hi Barbara
      I was also dealing with Paul Morisson
      noo call back.what did you do in the end?

  2. I have invested € 10,000.- in BitCoins at Procapitalmarkets.com. After only one month I should have 27.815.-US Dollar in my account. In order to get a payout, I would have to pay half, that is 13,907.- US dollars, to a Handeslkonto. If I pay that, maybe my 10,000 and the 13,000 will be lost

  3. Liv Kjensberg

    I invested 4000 USD in Procapitalmarkets. After just Three days it became 1500 USD more. Then nothing happend. In talk With Andrew Miller, I said I wantet to withdraw the profit. But he told me not to, because the taxes would be very high. The Money just stay there. When I Call them, they hang up. They don`t answer mail, and I have sent a lot. I tryed to withdraw, without any result.
    Another thing, after some few days, I got a Call. The name was Miller, and I thought it was Andrew Miller. He spoke very fast, and my English is not too good, so I misunderstood. In just a “blink” 3500 USD vas transferd. But it was not Andrew Miller from Procapitalmarkets, but a man called Jim Miller from Pro-trader. In two days I got 700 USD dollar on the account. So I got a Call from Michael Ericsson in Pro-trader. He helped med withdraw the proofit to an e-wallet, Jubiter. Then he should Call med back and show med how to transfer the Money from the e-wallet to my bank account. But Next time he called, he, as usual spoke really fast and tried to push med to ask my bank for loan. I refused. And since I have not heard from them. I tried to withdraw the rest of the Money, but they canselled it. I have sent them mails, but no answer. What can I do?

  4. Tom Arne Moldenæs

    You may contact your bank or credit card provider and file a chargeback.

  5. Hello, just want to let you know guys. Definitely not deal with Procapitalmarkets!!!!!!
    I did invest 500 usd, i had problem with family and needed to quickly take out money and even now i waitng to get it back. I didn’t do any trades and thats looks suspicious for them. When i ask how is it going with withdraws? They saying WORKING ON IT. They take a time and don’t give a shit about you or your problems. Just they don’t care and you can wait ages.
    This was my biggest mistake to invest money with them. Very bad attitude from them. !!!!!
    Never invest with them !!!!!!!!!!!

  6. Gerrit Adriaan

    this isexactly how they operate they just demands money and a loan from your bank and the next thing you received a phone call that you have major losses.they are wso clever they apply for aloan on your behalf by YOUR bank. I had this ordeal IN MAY 2018 with E-Marketstrading where I lost12000$ now iam busy withPROCAPITALMARKETS and this guy MR JACOB WHITE IS OPERATING EXCACTLY the same as the one before.Now he mustpy the profit theres lot of exxcuses

  7. My experience With Procapitalmarkets:
    I recently invested money with Procapitalmarket, however I am not at all happy and I feel very manipulated, violated financially, well as, emotionally.

    First, contact, Rachel, was very forceful and relentless. The only reason I decide to invest with them is because she said I would be trading with Pro Capital Market’s money. Yes,their money. So, I invested 730AUD thinking I will be trading with their money. She said, ‘What do I have to lose, if I don’t like it you can withdraw from it’. She said this is all the amount of money I would have to invest.

    Was this a lie? If not a lie, why did I have to deposit a further 9833AUD?

    Last night 5/7/19 I received a phone call from Michael, as the conversation went, he was questioning me and asking me about my finances. Being honest I told him the information he wanted to know. Then he asked me if I had AnyDesk because he wanted to show me how the platform worked. He never took me to the platform. He said I need to link my bank account with my trading account in order to deposit the profit. The next minute I knew he had my bank website login page up for me to log into my bank account. There he could see all my banking details. I had one account with 7000AUD in it and made it clear that It was my disabled sister’s account. I didn’t appreciate him looking into my bank accounts. I felt it was a Privacy violation! He would not listen to me when I explained to them that this 7000AUD in my account is not mine. It belongs to my disabled sister. I’m looking after it for her because of her disability. He even went on to say I will be looking after her because I would have more money to look after her. He was reluctant to accept a ‘no, I don’t have 9833AUD the amount of one bitcoin’. He kept at me, he was relentless, telling me how much money I could make, and I’ll only be without money until Tuesday 9/7/19 and my money will be doubled. I told Michael that this is all the money I have. This comment still didn’t stop him. He was still relentless. He was still at me to deposit 9833AUD. His reply was I’ll make more. To me this is emotional violation and manipulation. Why, because he couldn’t accept, no! I felt obligated; due to him looking at my bank detail, saving and all. I felt like I had no choice.

    I am sure AnyDesk was not created for them view into the bank account of their customers.

    It’s now Friday 13/7/19 and the money still isn’t in my account. I’ve emailed them several times this week asking for a cash back on my 730AUD and 9833AUD. I would like this money in my bank account soon as possible.

    Is procapitalmarket a scam? I’m not sure; probably, maybe, but I do know they are very manipulative, intrusive, and violates ones privacy.

    1. Are you so stupid? This is 100% scam. Please send me also 9000 AUD I will triple it in two days I promise! If you want more money send me 100 000, OK? It is a deal, just reply to this with your contact details and you can also include your credit card number, valid until date and cvv security number, it doesn’t matter if they are public on internet, I just check them, thank you so much

  8. ProCapitalMarkets is a scam company that more than likely will disappear in some time with all the customers money. ProCapitalMarkets scam company are very aggressive phonecallers, they call a lot from always changing numbers starting +44. They send their e-mails where they claim that you have already opened an account from IP address in Holland belonging to Google:
    mail-oi1-f173.google.com ([209.85.167.173])
    (using TLSv1.2 with cipher ECDHE-RSA-AES256-GCM-SHA384 256/256 bits)
    SO obviously even here they use different masked e-mails in different countries, this sender claiming to be a fake name Christine Cruz after an American TV news person keeps sending shady e-mails that you have an active account of which you have never heard anything.
    ProCapitalMarkets is a scam that uses the old cold calls techniques to get you to invest in their trading platform which is programmed to eventually to take all your money.
    Read internet warnings of ProCapitalMarkets and you will understand that ProCapitalMarkets is a scam company.

  9. I cannot believe some people here shared their banking information and some sent money to ProCapitalMarkets which is a scam company. Unbelievable! The only right way to tell them is that they are a fraud and do not call me ever again! Use the big F-word, unbelievable that so many people are so stupid. Read the online reviews about ProCapitalMarkets, ProCapitalMarkets is a scam company. They have been calling me from different phone numbers starting +44. To be avoided!

  10. PROCAPITALMARKETS.COM IS VERY CLEAR SCAM. DO NOT INVEST.
    I did background research, and they will disappear from internet around August 1-7, 2019, in a few weeks. Their anonymous domain will expire then, which they registered through American Godaddy.com where anyone can register domains for low prices. They have everything under anonymous proxies.

    They have changed their IP servers 7 times and they have been in business only since August 2018, so they call people aggressively, they send you e-mail that you already have an active account even though you never opened one. THIS IS A CRIMINAL ACT IN MOST EU-COUNTRIES where investment services are regulated and NO REAL INVESTMENT BROKER will send you an e-mail with your username and password for an account that YOU NEVER OPENED!!! THIS IS A CLEAR SIGN OF A FRAUD. I have filed a criminal complaint today to the police and I have contacted GoDaddy in the US to shut down their website as soon as possible due to criminal conducts with their domain.

    Hard to believe that someone is so stupid that falls into these internet scammers.
    Use ONLY regulated service providers that have a long transparent history. Preferably use only well-known companies in your own country because then you are being scammed. Never NEVER take any cold calls on the phone from any shady company online.

    Procapitalmarkets.com is an offshore company registered in the St Vincent and the Grenadines in the Caribbean, well known old tax haven and offering anonymous offshore companies. Procapitalmarkets seems to operate in Germany according to their IP address history, but their e-mails come today from Holland, they used masked Google-email from Holland. They seem to be calling from the Great Britain, but back-call to some of their tens of different changing numbers reveal that they are only proxy services where call-back is impossible.

    I can set up a website like Procapitalmarkets.com in about 3 hours, I can register anonymous domain, and launch a trading platform that is programmed to create mostly losses. If anyome happens to make some profit by accident…ha ha..you will never be able to withdraw any money from these scammers!!!

    AVOID! PLEASE SPREAD THIS MESSAGE ON SOCIAL MEDIA!

    Here is their domain information, everything will expire in a few weeks:

    Registrant Registration Private
    Registrant Org Domains By Proxy, LLC
    Registrant Country us
    Registrar GoDaddy.com, LLC
    IANA ID: 146
    URL: http://www.godaddy.com
    Whois Server: whois.godaddy.com

    (p)
    Registrar Status clientTransferProhibited, clientUpdateProhibited, clientRenewProhibited, clientDeleteProhibited, clientDeleteProhibited, clientRenewProhibited, clientTransferProhibited, clientUpdateProhibited
    Dates 349 days old
    Created on 2018-08-01
    Expires on 2019-08-01
    Updated on 2018-08-01
    Name Servers NS1.DIGITALOCEAN.COM (has 574,617 domains)
    NS1.DIGITALOCEAN.COM (has 574,617 domains)
    NS2.DIGITALOCEAN.COM (has 574,617 domains)
    NS2.DIGITALOCEAN.COM (has 574,617 domains)
    NS3.DIGITALOCEAN.COM (has 574,617 domains)
    NS3.DIGITALOCEAN.COM (has 574,617 domains)

    Tech Contact Registration Private
    Domains By Proxy, LLC
    DomainsByProxy.com,
    Scottsdale, Arizona, 85260, us

    (p) (f)
    IP Address 68.183.220.109 is hosted on a dedicated server

    IP Location Germany – Hessen – Frankfurt Am Main – Digitalocean Llc
    ASN Germany AS14061 DIGITALOCEAN-ASN – DigitalOcean, LLC, US (registered Sep 25, 2012)
    Domain Status Registered And Active Website
    IP History 11 changes on 11 unique IP addresses over 4 years
    Registrar History 2 registrars with 1 drop
    Hosting History 9 changes on 7 unique name servers over 4 years

  11. PROCAPITALMARKETS IS 100% SCAM. Procapitalmarket uses fake identities. Procapitalmarkets has set up presence on LinkedIn, they claim to be the fastest leading investment broker in the world!! Surprisinly they have only two employees listed on LinkedIn, quite a small number for the fastest growing leading investment broker in the world. However both these identities are complete fakes! Research for the female figure reveals:
    Procapitalmarkets uses fake identities. They have set up the presence on LinkedIn with two employees. Quite few employees on LinkedIn for a leading investment broker as they describe themselves.

    SIMPLE RESEARCH ONLINE WITH IMAGE RECOGNITION REVEALS PROCAPITALMARKETS IS USING FAKE IDENTITIES.

    Their female investment advisor is also present on internet with names Aisha Sharif, Maher Melato and Moldir Sultanova. Same picture. All fake identities. Thei male employee in linked to several identities with the same picture, and the real person in the image might actually be in Michigan, but this is unclear, that might be also a fake identity.

  12. JOSÉ Henriques

    I send 27500 euros to procapitalmarkets.com thiefs!!! Last may,some days ago i ask for widraw 6 000 euros to put 2000 in my bank account and 4000 to invest in agressive way thats the name he calls kg! Tur day after vê call me and told me to see my account : 145 000 usd,tv e day before was 48500 usd,but then vê told me that I must send 37000 euros in 24h and then I can withraw all the money!!!!!!!!lyers ,this is stilling money from honest people!!!!!!!

  13. Procapitalmarkets.com website will be open only a couple of weeks more, then it will be gone forever with all the clients’ money. None of your money was ever really invested in anything, the platform is fake, it is only hoaks. How do I know the website will be gone around August 7-15th?? The domain name procapitalmarkets will expire on August 1st and usually after that it takes maybe 1-2 weeks when the domain still may work but it may disappear right after August 1st. Check yourself on Whois online.

  14. I have also been scammed, today august 22 2019. I am still
    waiting for transfer to be done to my account. the guy by the
    name of Billy Graf was suppose to call me at 10h30, he has not.
    Apparently he was waiting for this lady who seem to be a senior
    scammer by name Riley May to authorise transfer,as she was still
    attending meeting in Germany, I was scammed 80332.76USD. They have
    used the same method of insisting that I should add more money so they
    be able to do 1million ZAR.Today they were suppose to payback the money
    their all the numbers they used are no longer working. one of them called
    when I respond he hung up there and there, They will go as far as wanted to
    about all banking account that you have, to clean you up. I need help help, I
    afford to loose such money.

  15. I invest 251usd with ProCapitalMarkets, in May till now they always like me to increase more money, I don’t how much I have now. Now I am tired of being misused, is four months now, please don’t promise huge amounts that we can’t see

    N

  16. Have you been contacted by Aisha Warner from Procapitalmarkets?

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