PrimeCapitec is a new offshore, unlicensed and offshore Crypto and Forex CFD Broker, that opened in March 2020.
PrimeCapitec Broker Review – PrimeCapitec is a SCAM. Do not trust this broker!
This broker is owned by Crewire Holdings Ltd, which is located at: Beachmont Business Centre, Suite 60, PO Box 1510, Kingstown, St. Vincent and the Grenadines. The phone number listed on their website is in England: +442039661310. Their email address is: [email protected], and the Official website is at: https://www.primecapitec.com/.
A quick review of this new broker called PrimeCapitec find that the trading app they are offering investors is made by Airsoft. It is a simple web-based CFD trading platform, and you not be able to use the industry standard MetaTrader4 or a mobile trading app. Take a look at the screenshot below, and you can see what their web-based trading platform looks like.
You will that they offer a variety underlying assets for CFD trading against USD or BTC including; Shares, Crypto Currency, Forex Pairs, Stocks, Commodities and Market Indexes.
PrimeCapitec’s website and trading platform is only available in English. Technically, a new investor only needs to deposit $250 to start trading, but their account types show they are targeting big money investors.
For problems and withdrawal issues, read more here.
Fake News Articles
For a lengthy explanation of how a Crypto scam works, you should read this article.
Basically, a legitimate looking article is written about how someone made thousands of dollars using a trading software like “Bitcoin Era“. The truth is, the only person making money is the one who wrote the article! Before investing with an automated trading system, you should know that 99.9% of people lose money that way.
You are better off investing with a licensed broker, that offers you free alerts from Trading Central, see here.
Is PrimeCapitec a Licensed Broker?
No, PrimeCapitec is not a licensed broker. Listed on this brokers website is an operation address of ” Suite 5A, Bahnhofstrasse 52, Paradeplatz ,Zürich, 80001 Switzerland”, however a search of Google Maps, doesn’t find such a location.
All CFD & Forex brokers in Europe must be licensed and regulated by the financial regulatory agency in their country. For complaints or problems making a withdrawal you should read this article.
Scam Broker Investigator uses a simple method to determine if a Forex broker is legitimate or a scam broker. We look to see if the broker is licensed and regulated by anyone of the popular government regulators; FSCA South Africa, FCA United Kingdom or ASIC Australia.
Australia ASIC Warning
“ASIC urges all investors considering trading in Forex to check they are dealing with an entity that holds an Australian financial services licence.”
You can find popular Forex brokers that are licensed and regulated listed here.