Reported as a scam / unregulated
Why Preferred Capital is on the register
Preferred Capital claims to operate under Preferred Capital Limited, which is indeed registered with the Saint Lucia International Financial Centre (IFC). However, this registration only confers International Business Company (IBC) status, which does not authorize or regulate financial services such as forex trading. Importantly, the Saint Lucia IFC does not issue trading licenses nor oversee brokerage operations. Moreover, Preferred Capital is not licensed by any recognized financial regulator, which is a serious red flag that significantly increases the risk of fraudulent activity. Therefore, Preferred Capital appears to be 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.