Beware! Prime-capitalpro is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Prime-capitalpro’s low quality and messy website makes it very hard to believe that this is the leading forex broker it claims to be. Fact-checking confirms the suspicion that this is in fact a low-effort scam relying on deceiving people without sufficient experience and knowledge of the financial markets. Let’s take a closer look at how to spot such scams and how to identify a trustworthy financial services provider.
Prime-capitalpro Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
The first thing to look for in a forex broker’s website is which legal entity runs it, where it is based and what regulatory oversight it is subject to. Licensed companies are also required to provide a comprehensive set of legal documentation.
Prime-capitalpro does not disclose which company is behind this website and does not provide access to the Terms and Conditions, Customer Agreement or other documentation. If you do not know who you are dealing with and what the terms of the deal are, it would be an obvious mistake to put your money on the line.
Prime-capitalpro claims to be based in the United Kingdom.
But there is no licensed broker using the Prime-capitalpro domain in the UK Financial Conduct Authority database. Another European financial regulator, Spain’s CNMV, has blacklisted Prime-capitalpro.
If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the K’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).
As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.
Prime-capitalpro Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Prime-capitalpro does not have any trading software. This means it is not capable of offering the services it claims.
Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.
Prime-capitalpro Trading instruments
As demonstrated, this website has neither the legal authorisation nor the technological capacity to facilitate trading in financial instruments.
Prime-capitalpro Spreads and cost of trading
Prime-capitalpro promises the lowest spreads and commissions in the industry, but as we’ve seen doesn’t even have trading software.
Instead of different types of trading accounts like real brokers offer, Prime-capitalpro advertises investment packages with guaranteed returns.
A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.
Prime-capitalpro Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.
Prime-capitalpro Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Crypto||24 hours||24 hours||Fee depends on crypto|
Prime-capitalpro only allows the deposit of funds with cryptocurrencies.
This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.
Prime-capitalpro Minimum deposit
Prime-capitalpro requires a minimum investment of 50 USD. For the same or even lower amount, you could open a starter trading account with a properly licensed forex broker.
Prime-capitalpro Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Prime-capitalpro||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet withdrawal terms.