What is Intelligence Prime Capital?
Intelligence Prime Capital, a forex and CFD broker, has garnered attention in the online trading community due to its lack of regulation, questionable practices, and numerous negative reviews.
The establishment of the broker is unclear, and the broker claimed to be based in Ireland, but it is not true. The broker is not regulated by any authority and this shows a big red flag. The deposits and withdrawal methods are unclear and there have been widespread reports of withdrawal.
They provide fake registration details and a bogus address. Despite claiming to have established Intelligence Prime Capital in 2006, the company actually came into existence in June 2021. The identities of their CEO and COO are fabricated, with the roles played by paid actors. Additionally, they offer an unsustainable return on investment of up to 45% per month.
Is Intelligence Prime Capital Legit?
The broker’s website can be considered fraudulent, as it uses a free WordPress platform and lacks basic user experience features. The website claims that Intelligence Prime Capital is a Fintech Company registered in Canada and regulated by FINTRAC with registration number MSB registration number M21080237. You should go for brokers that are highly regulated such as FxRoads
Eventhough it claims the regulation, the broker lacks a proper regulation. Under the guise of being based in Ireland, Intelligence Prime Capital Ltd. (Ireland / Canada) (now defunct) conducted business as an investment firm.
The company was an illegal player in the securities market, operating from a virtual address, and it plagiarised content from another forex broker’s website for its own.