We recently received requests via our social media handles to investigate Intelligence Prime Capital (https://www.iprimecapital.com). What follows are our findings.
On the “Why IPCAPITAL” page of their website, we have this description of the company:
We consider ourselves a pioneering broker. We were founded in 2006, which is considered a lifetime in the online trading industry. In fact, we were one of the very first Forex trading platforms to be made available to retail traders, just like you. In that time, we have built a solid reputation for ourselves, and we believe it is incumbent upon us to protect that reputation and the strong relationship we have with our clients.
We decided to start the investigation with Intelligence Prime Capital’s claim that it was founded in 2006. A quick trip to open corporates revealed two entries for the same company, one in Canada and another in the US, both opened in June 2021.
Also, the WHOIS information for the domain reveals that the domain iprimecapital.com was registered in June 2021.
From this we can deduce that Intelligence Prime Capital is less than a Year old. So where did the date of 2006 come from? To unravel this puzzle, we decided to analyze the contents of the website, specifically looking at the source code. There we found code that had been hidden from displaying, pointing to another domain avatrade.com
Visiting the website avatrade.com, we find that it is similar to iprimecapital.com, with the pages why-IPCAPITAL being identical to why-avatrade except for a few changes.
A search on the internet revealed Avatrade has been in existence since 2006. From this we can deduce that those behind Intelligence Prime Capital copied the content on their website from Avatrade.
The next thing we looked to verify was if Intelligence Prime Capital had a physical office presence. On their website, the address listed is in Canada.
A search revealed five other organizations using the address, this might mean that this is a virtual office address.
The final thing we investigated was the company’s management team. This is important because having competent people at the helm of affairs means the company would do well and meet its obligations. Likewise, fraudulent companies find it hard to recruit top industry professionals who have worked with recognized firms as such individuals would not want to spoil their reputations. Intelligence Prime Capital does not list any of its management team members on its website. The only person we could find was their supposed Chief Marketing Officer via their YouTube channel.
Outside of a sketchy LinkedIn profile, there is nothing else about Dr. VAL NG SH. While researching more about the company we found that the Central Bank of Russia had released a warning about Intelligence Prime Capital. They said it shows “Signs of an illegal professional participant in the securities market.”
Putting it all together, Intelligence Prime Capital is less than a year old, stole content from another forex broker’s website for its own website, is likely operating from a virtual address and is showing Signs of being an illegal professional participant in the securities market. Our advice is that you stay clear of Intelligence Prime Capital, it has all the telltale signs of a fraudulent offering.
75 Responses
I have read the link you sent me concerning Intelligence Prime Capital (Ip Capital) being a “scam”.
I have these to say.
1.The writers of the website were NOT thorough in their investigation, typical of nearly everything coming from Nigeria. They said their search for IP Capital revealed two companies. That is their own ignorance. IP Capital is registered in Canada and in the USA hence the two address as was required of them. They two web addresses are replicas.
2. IP Capital also hide their WHOIS information as is typical for ALL forex brokers. This is to protect themselves from undue digital harassments. Ask any hacker.
3. IP Capital is associated with a Broker called IP Capital which has been in existence since 2006. The writer did not know this. The people behind the robot teamed up with this broker and decided to retain the brokers name as the business.
4. IP Capital website resembles that of Ava trade for various reasons. Same designer did the job and used same interface, perhaps. There are many brokers looking alike. Hot Forex and FTXM brokers looked alike for years until they changed the interface and these are well known brokers.
5. It was said that IP Capital address is a virtual one because 5 other organizations are in that same location. Who are they talking to? Ignorant Nigerians! Why did they not travel to Toronto and visit the address?
6. They complained that information about the owners are sketchy as seen on Linked in. Yes, many people’s information on Linked is sketchy. Does that mean fraud? NO!
7. Intelligence Prime capital is less than one year. Yes, they are not hiding this and good organizations always start somewhere. Being less than one year does not mean you are a fraud!!!
8. They boldly pointed out that Russia has issued a warning against IP Capital. Dwelling on this as the main point, highlighted in red, shows that the writers of this are plainly ignorant if not stupid. Yes, Russian Security and Investment commission is against IP Capital they said it has signs of being a fraud. They said this without elaborating just like they have said about other global organizations like Binance, ( the number 1 of cryto Exchanger in the world) and Deriv a well known and HIGHLY Liquid Broker! So Russia generally frowns at Fintech. They are funny conservatives when it comes to public use of technology in relation to finance!!!
My own idea about this article is: The writer is shoddy and did not carry out much investigation, as is typical in Nigeria. They are just trying to dissuade people from doing the business out of hubris!!!
IF IP Capital is a fraud, then Australian Security and Investment commission, FINTRAC (Financial Transactions and Report Analysis of Canada) and USA’s MSB (Money Service Business) under the Department of Treasury, should be blamed, since they ALL gave IP Capital serious regulatory backing, a backing which many global organizations, like Binance, are NOT able to obtain.
Why am in IP Capital?
1. Its trading is analyzed by Retail traders watch dog like Wikifx and Myfxbook. So it is enough credibility for me.
2. The Parent Broker, Intelligence Prime Capital is regulated and so CANNOT run with my money. I can ALWAYS recover my Money IF the bot stop trading.
3. I take risks but ONLY Calculated risks. I have personally done the due diligence on IP Capital and found it a worthy risk. It is risky because it is a human organization that can go under just like thousands of other legitimate organizations have gone under.
I have NOT seen ANYONE who countered all the claims of IP Capital and they are ALWAYS around to answer questions, ANY questions in the daily Zoom meetings and asking people to investigate them.
So I am in this and it is changing my life.
Thanks
Thank you, Malachy, for your response to our investigation. Kindly see our responses to the points raised as itemized by you:
1) “The writers of the website were NOT thorough in their investigation, typical of nearly everything coming from Nigeria” Our question is are you a Nigerian? Your name sounds like a Nigerian name, so if you are from Nigeria then your submission is not thorough as well. You also write “They said their search for IP Capital revealed two companies.” This is incorrect, what we wrote was “A quick trip to open corporates revealed two entries for the same company, one in Canada and another in the US, both opened in June 2021.”
2) “IP Capital also hide their WHOIS information as is typical for ALL forex brokers.” Our report does not make any mention of IP Capital hiding their WHOIS information, we posted the WHOIS information concerned with the domain to show that it coincides with the age of the incorporation of the company, so this submission is irrelevant.
3) “IP Capital is associated with a Broker called IP Capital which has been in existence since 2006. The writer did not know this.” Please supply proof of this, it is not enough to make a claim, anyone can make a claim. Point us to the company incorporation details of this broker, or a domain that has been since 2006, at least point us to something that can collaborate this claim.
4) “IP Capital website resembles that of Ava trade for various reasons. Same designer did the job and used same interface, perhaps.” Why perhaps? Are you not sure of your claim? Again, looking at our investigation and the screenshots, the issue is not that “IP Capital website resembles that of Ava trade” but that it is a blatant copy, using the exact same words. This is intellectual property theft.
5) “It was said that IP Capital address is a virtual one because 5 other organizations are in that same location. Who are they talking to? Ignorant Nigerians! Why did they not travel to Toronto and visit the address?” Have you visited the address yourself?
6) “They complained that information about the owners are sketchy as seen on Linked in. Yes, many people’s information on Linked is sketchy. Does that mean fraud? NO!” What we wrote is that there is no information about the owners on the website, all we found is a YouTube video with someone claiming to be a chief marketing office with a sketchy LinkedIn profile. What about the CEO and other executives, where are they? Who are they? If you do not know the competence and record of accomplishment of those running a company, how can you trust it?
7) “Intelligence Prime capital is less than one year. Yes, they are not hiding this and good organizations always start somewhere. Being less than one year does not mean you are a fraud!!!” Of course, it does not but how can you vouch for the financial performance of an organization that is less than a year old? How do you even know the business has broken even or is making a profit or a loss? You need time to know all these.
8) “They boldly pointed out that Russia has issued a warning against IP Capital. Dwelling on this as the main point, highlighted in red” This is not the main point, and it is in red because that denoted a hyperlink so people can click it and check it for themselves. The investigation does not depend on any “main point” but is a cumulative case made up of various points.
The rest of your comments concerning regulators have been addressed elsewhere.
The way you treated this subject shows sign of scam or fraudulent organization.
First, you did not show us who is the owner
Second, who are the staffs working for this your so call ICP.
Thirdly, you responded angry without showing the proof , intelligent investigation, this is a sign of drama, which is you are hiding more information,
If you care to know , genuine questions deserve a Clare response
Damn! If you said he replied angrily how do you expect him to do so when you’re obviously trying to cover up the obvious. Take it or leave it, if you have an investment with them, I get you a bowl and a towel when they finally go under🤦🏽♂️
They’ve duped many of us in such a manner that you can’t even withdraw your fund from your account
What about QUBITECH from Russia? They where using that same virtual address and also have affiliates offices all over mostly NIGERIA
If you are a trader u will know that currency trading comes at great risk even the best traders sometimes hit stop loss.. Even robots hit stop loss.. How come intelligence prime robot never hits stop loss?? Have u ever seen the trades open or close or u just see profits appear in ur history? Why do they promote referral more than the trading? This is ponzi.. When they are low on funds they do promo to lure in more unsuspecting Nigerians.. Only the early birds enjoy in ponzi the remaining latecomers cry premium tears… Do not try to compound.. If u already registered cos u will loose everything..
You’re a complete fool to be suckered into IPrimeCapital. They are not regulated. I’ve spoken to them on their webinar
ode now you see say IPC nah scam
If this company is legal, why is there no way to contact them, they don’t have a phone number, they don’t have transparent support, the only one you have is email and they never answer
Where is IPC physical office located in Canada? And their support team
You are pure scam as i know some scammers who were marketing Acex forex to be marketing you too….this screams FRAUD. No amount of convincing can you do to clarify this. Wise people stay away from these SCAMMERS!!!
hey buddy ! intelligence prime capital clearly is a scam ! best proof is the wallet logo ! i have already been loosing money with skyllex and other companies alike ! they make a good job creating this website but the content is the opposite of being serious ! too much „praise yourself to the skies ! and a serious broker offers account funding through bank payments ! and not only through bitcoin and USDT ! when i uploaded my docs it took 1/10 seconds and was „after some evaluation immediately approved“ !! 😅. from there on i knew its a scam ! and they show emoticons in writing their comments ! not any serious broker does such a thing !! and finally i wanted to trade index CFDs ! i just saw „coming soon“ ! probably never coming ! i just wonder how they can initiate the MT4 trading ! that‘s interesting !! and the comments „we have been hacked“ is a joke of its own ! not any serious broker lets hinself hack !!
You bastard i hope your eyes has cleared now that IPC turned out to be a big fraud and scam and who ever behind this this fraud act will never know peace
What your have to say about iprimecapital.com by now.
IPC is a bis scam looted thousands of investors.
So what about now.. very sure you are one of the scammer.
They claim they are fully regulated and audited via FINTRAC, FCEN and ASIC and provide registrations. Did you check that ?
Please kindly point us to where the exact claim is made that “they are fully regulated and audited via FINTRAC, FCEN and ASIC and provide registrations.” What we found on their website at the time that this report was published was the FINTRAC and MSB registrations. Now concerning the FinCEN/MSB registration, the authorities clearly states that “The inclusion of a business on the MSB Registrant Search Web page is not a recommendation,
certification of legitimacy, or endorsement of the business by any government agency.”
https://www.fincen.gov/fcn/financial_institutions/msb/msbstateselector.html#
Also, note that the foreign location column is blank, why is this since they are also registered in Canada and use a canadian address?
Likewise, concerning the FINTRAC, note its response to Question 5 on its FAQ Page – Can FINTRAC provide confirmation that a reporting entity is in compliance with Canada’s anti-money laundering and anti-terrorist financing legislation?
“No. FINTRAC does not provide certification, endorsement, accreditation or any other type of confirmation regarding a reporting entity’s obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.” https://www.fintrac-canafe.gc.ca/questions/FAQ/1-eng
From this we can deduce that being registered with FINTRAC is not a guarantee that an entity is not into something illegal.
Thanks for this. Came at a right time.
Very detailed and instructive findings.
Keep up the good works!!
They are not regulated. They just show business registration and certification
Na so Now2trade.com carry my money run. Thank for this piece of information very detailed. You just saved me
Thank you so much for opening my eyes i was about to invest alot of monry
Thanks , was about to invest with them.. This information helps.
Thanks for this very important information!
Props to who runs this website, fantastic job
This is very informative about IPC capital
Thanks for this wonderful detailed review. IPC is nothing but a Ponzi scheme waiting for the right moment. If you are someone with a high risk appetite, you can invest proportionally to what you can afford to lose when she.it fails. Similar platform of this nature is CashFX, at least, up to this moment, it has not failed even though there some delays in payouts.
I’ve invested before I saw this,and now I’ve fallen victim. I’ve not even withdrawn once,they are closing shop. I just pray they come back for us to collect even half my capital,I invested over a thousand dollars. God have mercy.
I have invested into them and no issues and great returns. Their bot is on point. I’m seeing 7% weekly returns easy. Every week profits are withdrawn and you can either take or reinvest. It’s easy to get your money out. Also they have a live chat and answer questions. They have been helpful. How is it a “scam” if you can get your funds out and you can talk to a live person?
A lot of Fraudulent offers begin that way, that you are getting returns and can pull your funds out in no way means it is legitimate.
They always have a time limit waiting for more people to fall victim before they show who they really are “scammers”. They make it look easy and safe but it’s just like a time bomb waiting for the right time.
Well for me it’s more like a high yield investment platform….they appear to be all good at first, but then the website can disappear at anytime with all your money
The support live chat is not active and never answer me..
Are still in IPC? Are you able to withdraw your money?
Have u actually taking out your money of the IPC platform successfully?? If so how??
They scammed me off $500, BEWARE
Every Ponzi Scheme started out this same, it is the ability that you can withdraw your money at ease that drives the testimonies which drive further customers that will eventually become victims…..my advice….watch your back
you were Insulting the writer,now can you see clearly that you are scammed..bunch of hudl***
Thank you all for your comment and contributions.
Find below links to EDD from other website exposing Intelligence Prime Capital’s securities fraud pseudo-compliance. Investors BEWARE!
https://behindmlm.com/companies/intelligence-prime-capitals-securities-fraud-pseudo-compliance/
https://behindmlm.com/mlm-reviews/intelligence-prime-capital-review-boris-ceo-ponzi-scheme/#comments
Thank you for this correspondence …its good to query some information. I was about to invest with them.
I’m from Vancouver, Canada and our Provincial Securities Authority has issued a warning about this Ponzi scam as well.
https://www.bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2022/intelligence-prime-capital-ltd
Thank God I read about it before investing my hard earned money
Hi there, you did well in your investigation, however, it seems a lot is missing regarding the IPC’s claim on licenses it has, please the issue is hot, so no matter what time it may take, but do deep investigation and may be you should contact with the Canadian business registration and other involved institutions, you should visit or at least request someone in Canada to visit the address and check the address, logo and the staff. Please note the company is new and it is gaining significant investment from its customers within shortest period of time, so because of this, it will have market competition and anti-IPC.
Thanks
please tell me intelligence prime capital is illegal in nepal or not . please give me the correct response
Of course it’s is illegal both in Nepal and anywhere in the world
IPC has all the signature of SCAM going to happen.
It will make some people rich and many bankrupt.
It will not last.
Every year the same group of scammers will regroup, copy and paste ideas for gullible individuals to throw in their money; after a short while the site will go for maintenance and the rest will become history.
86z is a reverse betting platform. They give out games to play daily but if you loose the game, they refund back the Maloney used to stake. Please kindly help look into this as well.
We’ll look into it.
I have been scam on IP CAPITAL, the support don’t answer me… my account has been withdrawn completely to unknow wallet..This platform is definitely not safe !! Just happen 1 days ago, but it’s really scary , I don’t received any OTP, no any confirmation, completely mad..
I hope the platform will fix this scam and refund me.
Thanks for this info
God bless you
I have been wondering why would a forex broker that’s been operating since 2006 would only accept cryptocurrencies as methods of funding
What happened to bank wire and cards
Doesn’t that look like one day when their target is reached, they just disappear like so many online investment companies in the past?
You are on point man, I have registered with them but have not invested my money because of same reason for funding the wallet through crypto,why not wire transfer or cards
That made me stopped and do my findings on this page,thanks it helps.
I am not going further based on the information. It’s a scam just like PENNEYWISE in 2019/2020 were I lost N100000 as their DNS vanish to thin air and my money gone. This IPC too has such attributes using crypto wallets to fund your account as PENNYWISE does. As I send you this msg, I sent a msg too to their support, but “Error sending your message” pop up on my reply email. So run from IPC
My friend just got me introduced to PIC.. although I am yet to register and fund my account..I did the needful by asking Google which landed me here..so happy I got informed.
Thank you
Thanks for the information, I was about investing on the platform. This review is really helpful. Kudos!
THIS IS THE FIRST LINE OF THEIR TERMS AND CONDITION…. The products derived from Intelligence Prime Capital Ltd are not available for
trading to residents of the United States……. Be wise!!!!
please don’t invest with intelligence prime capital because they’re scammers. i could not withdraw my coin and there’s no contact information
Thank you so much for this information, it came at the right time. I was about investing my hard earned money…
I HAVE MY EVIDENCE THAT IPC IS FAKE AND SCAM ,This is ponzi.. When they are low on funds they do promo to lure in more unsuspecting Nigerians.. Only the early birds enjoy in ponzi the remaining latecomers cry premium tears… Do not try to compound.. If u already registered cos u will loose everything, I HAVE my evidence IPC IS A SCAM
Guys, a guy gave me his investor account of IP capital’s bot trading. Whole day I was waiting for the trade to open, but seriously it never…. But all of sudden in history it will show huge profit trade 😂😂. Its 100 % scam guys. Don’t believe
This is because they know that the FBI will go after them no matter where they are,if citizens of the united states are duped.
Beware of this platform,it’s already 8months old and can crash at anytime
Thanks for this detailed work author. It really does piss me off when this “trade for you with bot” narrative comes up. I have come across a dozen of platforms with such or similar claims and all, I mean all! never survived long term. As a crypto and Forex trader I know the psychology and risks involved, so when
i see such I just know it’s not gonna end well. Trading with your money and trading with others money has a certain mindset. Forex is high leveraged trading of 100x and above, now adding others money increases this leverage by multiples and that has serious effect in reasoning. One single loss can completely render such trader’s thought process useless for a period of time while still trying to meet up with promised payouts to investors. So at the end they result to “collect from Peter to pay Paul” (Ponzi). Stay safe out there. If you really want such trading, go learn it yourself. There are lots of materials out there.
The problem is that even the so-called trainers are also scammers, they take money from you claiming to know this or that where as they know nothing and even if they know they won’t teach you well.. life no gree balance
My brother life no gree balance I swear 😂😂😂
Guys , Life is about gambling,Business has ups and downs. So u have to count on that. I have 2 friends. And they really profited from this Company ipc. So, what ever it is, I am happy to invest even more money. And I will let you know my Results soon
This is not gambling, the money you are making is comes from the pocket of others who are sure to lose their funds.
Your review is comprehensiv.
I have one or two knowledge about trading.
IPC trades for a pip per trade, and from my calculation, 0.3 pip is deducted as spread.
They trade a single time zone and it is efficient.
I audit the time of trade and the reported pair values, and they are consistent with the chart.
If they have been reporting fake results on MT4, scam alerts would have triggered an audit from metaquotes.
Subscribers pay for the bots while 20% is deducted from earnings every week. This is enough capital to fund a multilevel marketing scheme.
Fintrac certifies but does not regulate. There are many companies that update their credibility as they grow.
I am a bit weary of the descrepancies in their information. However, I have seen worse marketing schemes.
It is wrong to call a partially certified or non-regulated company a scam. Just call them by their attribute rather. Not regulated or partially certified.
I think they have an innovative trading strategy, as I would confidently enter the market for 5pips where they entered for just 1 pip.
They have a sustainable strategy, but would require reasonable trade volume to sustain the mt4 server charges.
Earlier, with few subscribers, they traded for higher ROI daily, so their profit charges could offset the mt4 hosting charges.
The customer base is increasing, and their daily profit returns is reducing. One may suggest caution due to volume. Crowdsourcing is the inspiration for the multilevel marketing, which the profit charges can sustain.
I still think that your research is detailed and meaningful, but in a critically deductive analysis, it does not necessarily sum up to a scam, but an unsafe investment.
Early investors take this kind of risk.
Thank you for your comment, but you have some things mixed up. First, you wrote “If they have been reporting fake results on MT4, scam alerts would have triggered an audit from metaquotes.” Metaquotes is not an auditing firm, they make trading software, the only way a company’s financials can be verified is through an audit by a recognized auditing firm, anything asides from this is to stake one’s knowledge on something that is not sure and open to manipulation.
Second, you wrote “It is wrong to call a partially certified or non-regulated company a scam. Just call them by their attribute rather. Not regulated or partially certified.” This statement is misleading and incorrect. Nowhere in this write up did we call IPC a scam based on them being non-regulated. We laid out several lines of evidence why we think they might be a scam. Scams, frauds, and swindles rely on deception, and we showed that IPC lied about how long they have been in business and stole content from Avatrade, clearly a company that would lie so brazenly and steal content cannot have the best interest of those who they claim they want to offer a service at heart.
Based on the above, your conclusion that “in a critically deductive analysis, it does not necessarily sum up to a scam, but an unsafe investment” is unwarranted. Early investors take risks based on proper analysis and their investment plan and not jumping on the latest paying investment scheme.
To a hunter every Problem is animals, to a carpenter every Problem is nails. To a positive person behind every Problem is a solution. To a negative person every solution is a Problem.
IPCAPITAL is a solution and a game changer. Life is a RISK. It’s Riskier not to take Risk. IPCAPITAL is a Calculated RISK worth Taking. Thanks.
There is a difference between a RISK and a SCAM. Calling a scam a risk will not change what it is and portrays you in a bad light.
Which is the best company to trade on,since you are looking at IPC has some features of scam,which is the best
It best you learn the forex market and trade it by yourself. If you loss you learn , if you win you gain.
Thank you.
I believe IPC but all my funds have been withdrawn without my permission $2233. All hard earned money stolen! The support didn’t respond, the chat raise tickets but no response. I am still in shock, how can this happened with Google authenticator except if it was withdrawn from back end. I hope my money will be refunded.
It is so unfortunate how could this IP capital cheat people of their hard earn money I invested $1000 now the site had shut down that means my is gone
PLEASE CAN SOME ONE COM CLEAN AND ABOUT ISSUES RAISED
I made the most stupid decision of my life when I decided to invest on a platform that only had positive reviews everywhere to deceive more people. Everything was going well until I decided to make a big withdrawal, they had let me withdraw a small amount at first and this even made me trust them even more until i needed to make a big withdrawal, they denied this and instead made me make several deposits as “tax” in order to approve my withdrawal. This went on for another three weeks and i had already lost a fortune and it didn’t look like they were going to release anything. That was the moment i realized what i had gotten myself into, i plunged into acute depression for about a month before i got in touch with a team that helped me recoup my loss, i didn’t even think it was possible i just had to send a mail to (professortraders@ mail. com) as i was directed by someone i confided. If i wasn’t lucky enough to have gotten that information, i am sure they would have easily gotten away with ruining me financially.
@ adam how did you go about this? what and what did u send to them?