AscotPrime
We checked AscotPrime against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
AscotPrime is an unauthorized broker for the following reasons. 1) AscotPrime claims to be operated by R Capital Group Ltd, a regulated entity holding a license from the Seychelles Financial Services Authority (Seychelles FSA). However, there is no evidence to verify if AscotPrime is a product of the Seychelles FSA-licensed company. 2) AscotPrime also claims its payment services are provided by Virtual Trade Consultancy FZE & Enet Kuwait – which are regulated by GCC Authorities and ministry of commerce in the state of Kuwait. However, neither of the two agencies mentioned by this broker is a financial regulator that issues licenses for forex trading or brokers or regulates international companies engaging in such activities. 3) Downloading its MT5 software, we found AscotPrime is owned by Ascot Prime Ltd, a liability company located in the United Arab Emirates. However, we didn't find any results matching this broker in the register of CBUAE (The Central Bank of the United Arab Emirates; the regulatory body of UAE). All evidence clearly states that AscotPrime is not overseen by any regulator. That means investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report AscotPrime.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.