Reported as a scam / unregulated
Why AscotPrime is on the register
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.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.