WikiFX Scam Alert: Beware of Broker Capitals!!!

　　Investors who are still trading forex at brokercapitals.com had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

　　Let us start with the most important. As it turned out Broker Capitals (brokercapitals.com) is blacklisted as a scam by CONSOB in Italy, the national financial regulator, on August 1th. On our next screenshot you may check the recent CONSOB warning:

　　So Broker Capitals is an officially confirmed scam – the Italian regulator CONSOB blacklisted the so-called broker, which outright proves its fraudulent! Trustworthy financial authorities regularly update their lists with unauthorised entities, and it goes without saying that any broker with a warning on its name should be avoided.

　　Broker Capitals claims to have been licensed and authorized in the UK for some 15 years, so WikiFX even made the effort to check the registers of the Financial Conduct Authority (FCA), but in vain – no company or broker by the name of Broker Capitals was to be found there.

　　Now let's search “Broker Capitals” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

　　As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/4249979102.html), Broker Capitalscurrently has no valid regulatory license and the score is rather negative - only 1.02/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

　　Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

　　WikiFX also paid a visit to the broker‘s official website to learn more. As you can see from the below screenshot, Broker Capitals is a brand of Broker Capitals Limited – a company registered in the tax haven St. Vincent and the Grenadines. The country is an offshore zone that allows the registration of international business companies with undisclosed ownership, meaning that Broker Capitals is practically a fully anonymous broker! What’s more, the local regulator SVGFSA does not license and regulates Forex brokers, so each one registered on the island can actually do whatever it wants to do, bearing no responsibility for its actions. Simply put, the offshore registration makes it possible for Broker Capitals to scam you and get away with it!

　　Furthermore, Broker Capitals claims it has an award-winning platform, but that‘s a lie! In reality, the so-called brokerage only provides a poor Webtrader that’s not even close to the industry leaders MetaTrader4 and MetaTrader5. Both have gained a solid reputation for their stability and the sophisticated features they can provide, such as automated trading and analytical tools, many complex indicators, and thousands of third-party-developed apps found in the in-built marketplace. Broker Capitals‘ Webtrader can provide none of it, and WikiFX considers it dangerous as there are no guarantees that the platform’s servers are secure at all! So, with or without warning, WikiFX would still recommend that customers should stay away solely because of the inferior trading software!

　　The leverage can allegedly reach 1:1000, which is a rate with enormous profit potential, but at the same time, it increases trading risks dramatically! What‘s most important, though, is the fact that the leverage ratio is in direct conflict with some of the brokerage claims. Namely, Broker Capitals says it’s EU regulated broker, but the maximum leverage allowed in the Union is 1:30! Hence, the 1:1000 leverage alone proves there is something wrong with Broker Capitals!

　　The minimum deposit with Broker Capitals is $200, which is a tolerable requirement, but its still twice as high as the industry standard of $100. Not to mention that many brokers are now accepting clients for as little as $5, which turns Broker Capitals into expensive brokerage!

　　The funding methods are allegedly Credit/Debit cards, but that‘s not the whole story. Yes, it’s true that customers can deposit via bank cards, but each transaction is processed by fishy wallets like Cardpayz and Paypound, both of which were previously exposed as scam facilitators. The scheme works in this way: customers are forced to buy crypto with their cards, then they should deposit the crypto with Broker Capitals, and when the procedure is complete, chargebacks become practically impossible! Needless to say, the deposit system itself waves a major red flag and more or less proves that Broker Capitals is a scam!

　　And lastly, WikiFX would like to demonstrate how brokers use malicious clauses to put clients in unfavourable positions. One such clause is the Inactive and dormant account and procedures, which you can clearly see below. According to it, an account becomes dormant after only 30 days of inactivity and will be subject to a $50 handling fee. Broker Capitals fails to specify whether the charge incurs just once or every month, but either way, a $50 dormant fee is a midday robbery! Beware!

　　In a nutshell, it's not wise to invest in Broker Capitals. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.

　　You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.

　　WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!