Welcome to our Prime Capital Trade review in which we investigate the website currently found at PrimeCapital-Trade.com.
Recently, we received the following complaint:
A Facebook member claimed to be a Bitcoin trading expert and I made a transaction with them through CashApp to buy Bitcoin. I then transferred the Bitcoin to their website link, primecapital-trade.com. Unfortunately, I was scammed out of $9,360.00.
So is PrimeCapital-Trade.com a SCAM?
The domain primecapital-trade.com was registered on December 28, 2022 for 1 year through PDR Ltd. d/b/a PublicDomainRegistry.com. It is hosted by FranTech Solutions.
SimilarWeb ranks them 17,100,432 globally and 94,795 in Kenya. It received less than 5K visits in January 2023.
They are not even indexed on Google, apparently, and they probably get most of their traffic from referrals such as the one depicted in the complaint we opened with.
Based on their website, Prime Capital Trade is a company that offers trading services for cryptocurrencies and forex and portfolio investment strategy products to customers. They claim to be “registered FCM and RFED with the CFTC” and to offer comprehensive support throughout the investment process.
The company offers different account types, starting from $500, with various benefits such as cashback and instant withdrawal, and it claims to have a technical team with plenty of experience in developing and operating distributed, high-concurrency, and high-availability services.
The platform offers various investment plans to choose from, and investors receive profits according to the conditions of the chosen plan. The minimum withdrawal amount is $0.1, and payment systems include Bitcoin, Litecoin, Ethereum, Payeer, and Perfect Money.
Get in touch with our affiliated Cryptocurrency Forensic Specialists at CNC Intelligence for free by filling out the form below.
The platform does not allow multi-plans working simultaneously.
Primecapital-trade offers three different account types: Starter Plan, Economic Basic Plan, and Premium Plan.
The Starter Plan requires a minimum investment of $500 and offers a 50% return on investment with a withdrawal period of 7 days.
The Economic Basic Plan requires a minimum investment of $1000 and offers a 100% investment return with a withdrawal period of 3 days.
The Premium Plan requires a minimum investment of $5000 and above and offers a 250% investment return with instant withdrawal.
All plans offer 24/7 support, unlimited support, easy deposit, cash back, and 90% trading profits.
The service uses innovative PPS+ payment method with allocation of 100% transaction fees to ensure a higher yield.
The affiliate program is of one level, with rewards ranging from 3% to 10%, and there is no need to have an active investment to participate in the affiliate program.
Who is Behind Prime Capital Trade?
The About page at Primecapital-trade.com is not very helpful in answering this question. They claim to be a profitable forex broker and investment company that specializes in global property investment opportunities with over 15 years of experience, 8 global locations, and 250+ trading instruments.
However, as we’ve seen their domain name was registered less 6 months ago and they only provide the address for one location.
They claim to have been chosen by over 90,000 traders and have a rating of 4.8/5. Additionally, they are trusted by 1600+ popular companies worldwide. However, we have determined that they barely receive any traffic and it’s unclear where they are rated 4.8/5.
There are placeholder links to Twitter, Facebook, Instagram, Google Plus, and LinkedIn on the site, but they lead nowhere.
Their copyright line reads “© Copyright PrimeCapitalTrade,” but no year is provided.
Contact information includes an address:
788 Brickell Ave, Miami, FL 33131, USA
And an email address: firstname.lastname@example.org.
They also offer a contact form and a live chat widget.
Are they regulated?
Primecapital-trade.com claims to be “a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 03857671).”
The CFTC (Commodity Futures Trading Commission) is an independent agency of the US government that regulates the futures, options, and swaps markets.
An FCM (Futures Commission Merchant) is a firm that is registered with the CFTC and is permitted to accept orders for trades in futures contracts.
An RFED (Retail Foreign Exchange Dealer) is an FCM that offers forex trading to retail customers.
The National Futures Association (NFA) is a self-regulatory organization (SRO) that oversees the activities of FCMs and RFEDs in the United States.
Therefore, when Primecapital-trade.com claims to be a registered FCM and RFED with the CFTC and member of the NFA, it means that they are authorized and regulated by the CFTC to operate as a futures commission merchant and retail foreign exchange dealer, respectively.
Additionally, being a member of the NFA indicates that they are subject to regulatory oversight by the organization and must comply with their rules and regulations.
However, using the Background Affiliation Status Information Center (BASIC) at www.nfa.futures.org/basicnet to search for the firm’s registration status and disciplinary history reveals that their claims are false and they are not actually regulated.
The only coherent online mentions of primecapital-trade.com online is a Bear Money Forum post from March 23, 2023 about a newly launched high-yield investment website called Primecapital-trade.com.
The investment plans offered are 50% after 7 days, 100% after 3 days, and 250% after 1 day.
The minimum deposit is $500, and the maximum deposit is unlimited.
The minimum withdrawal is $10, and the referral commission is 5%.
Payment methods accepted include various cryptocurrencies, e-wallets, and bank cards.
And according to a scamadviser.com report, the website primecapital-trade.com has been reported as unsafe by Trend Micro and has a trust score of 1 out of 100, indicating that the website may be a scam.
The Prime Capital Investment website offers high yield investment plans with minimum deposits ranging from $500 to unlimited, and promises high returns of up to 250% within 1 day. The website has a valid SSL certificate and is labeled safe by DNSFilter, but the identity of the owner is hidden on WHOIS, and the registrar is popular among scammers. The age of the site is very young and the server hosts other low-reviewed websites.
Complaints We Received
On December 1, 2023, we received the following complaint:
This site was found on Facebook. The communication was established via Facebook Messenger. Payments were made using bank transfers through Zelle and CashApp.
– Wed, Nov 29, 2023: $1350 Bank Transfer (Pending)
– Thu, Nov 16, 2023: $1000 Express Deposit (Processed)
– Sat, Nov 25, 2023: $1000 Express Deposit (Processed) [1:39 PM]
– Sat, Nov 25, 2023: $1000 Express Deposit (Processed) [12:03 AM]
– Fri, Nov 24, 2023: $1000 Express Deposit (Processed) [11:57 PM]
– Fri, Nov 24, 2023: $1000 Express Deposit (Processed) [11:57 PM]
– Fri, Nov 17, 2023: $1000 Express Deposit (Processed) [12:08 AM]
– Tue, Nov 28, 2023: $500 Express Deposit (Processed)
– Tue, Nov 21, 2023: $500 Express Deposit (Processed)
– Tue, Nov 14, 2023: $500 Express Deposit (Processed)
– Fri, Nov 17, 2023: $350 Express Deposit (Processed) [12:46 PM]
Total of 11 transactions recorded.
Bottom Line: PrimeCapital-Trade Scam
Prime Capital Trade is an unregulated broker that claims to offer trading services for cryptocurrencies and forex, portfolio investment strategy products, and is “registered FCM and RFED with the CFTC”.
However, their claims are false and they are not actually regulated. The platform offers different account types with investment returns up to 250% and instant withdrawal.
The company has a poor online presence, and the only review is a complaint from a Facebook member who claimed to be scammed out of $9,360.00.
Therefore, investors are advised to stay away from Prime Capital Trade and avoid investing their hard-earned money.
If you have fallen victim to online scams, please comment below. If you have suffered a substantial financial loss, do not despair. We are here to assist you in recovering your funds!
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