FCA Flags Prime Capital Invest Calling It ‘Clone’

As financial scam operations are ramping up all over the globe, the United Kingdom’s Financial Conduct Authority (FCA) has recently warned against another such fraudulent company trying to dupe investors.

Operating as Prime Capital Invest, the fraud broker is claiming that it is controlled by ETX Capital parent Monecor (London) Ltd. Earlier this month, the market watchdog also warned against another broker that was impersonating the credentials of ETX Capital.

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Unlike the previous FCA-flagged clone of ETX Capital that was exactly impersonating the authorized broker, this new fraudulent platform created a genuinely looking platform and is only using the name of the authorized company.

The FCA labeled this Prime Capital Invest as a “clone firm” as it is using the name of an FCA-authorized broker to lure investors on the platform.

“Almost all firms and individuals carrying out financial services activities in the UK have to be authorized or registered by us,” the regulatory warning noted. “This firm is not authorized or registered by us but has been targeting people in the UK, claiming to be an authorized firm.”

Watch out for the details

The regulator also detailed that the platform is operating under the domain of “https://primecapitalinvest.com/” and are reaching out to investors using four at least four email addresses – [email protected], [email protected], [email protected][email protected] – and two phone numbers – +447537126270, +447537129443. 

So investors should be alert if any Monecor or ETX Capital representative reaches out to them using these channels.

Meanwhile, along with the UK watchdog, other European regulators are also alert on such scams, and countries like Italy and Cyprus are also blacklisting the domains.

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