ImportCapital Review: Signs That This Broker Is A Fraud
ImportCapital is an online financial trading company that claims to offer a user-friendly trading platform with a wide range of trading instruments. However, this broker has received numerous complaints and scam allegations from its clients, indicating that it may not be as legitimate as it claims.
In this ImportCapital review, we will explore the various red flags associated with the firm. We will explain why you should be cautious when dealing with this broker. Let’s dive into more details now!
Also, we recommend you not invest in the fraudulent brokers UniGlobal Assets and Trade XN.
|Leverage||1:50 – 1: 200|
License and Safety of Funds at ImportCapital
One of the first things you should look for when choosing a broker is their license and regulation status. This is a fact! Unfortunately, ImportCapital is not authorized or regulated by any financial market regulator, which means that they are an unlicensed brokerage.
This should raise a clear suspicion as regulated brokers must adhere to strict rules and regulations. This is to ensure the safety of their client’s funds. Without proper regulation, you have no guarantee that your funds are safe with ImportCapital.
Note: ImportCapital is owned by Incendiary Group Ltd, a company registered in Dominica that’s also behind another investment scam called Meteor Trade. European financial authorities, the British FCA, Italian CONSOB, and Spanish CNMV, have issued warnings against both companies, indicating that ImportCapital is a broker scam.
ImportCapital claims to provide its clients with an MT4 platform that is easy to use and navigate. However, upon further investigation, we discovered that this platform may not be as user-friendly as it appears. Clients have reported experiencing issues with the platform, including delays, errors, and difficulty placing trades. In addition, the platform’s manipulative trading software may influence trades, leading to losses for clients.
Despite being one of the most highly-regarded trading platforms available, ImportCapital, a fraudulent broker, does not provide its clients with MT4. Instead, this unscrupulous broker offers subpar trading software in the form of a web trader that cannot match the capabilities of MT4. In addition, ImportCapital falsely claims to provide access to other advanced programs such as MetaTrader 5, cTrader, and Sirix.
Trading Accounts Available at ImportCapital
ImportCapital offers a variety of trading accounts, including Mini, Standard, Classic, VIP, and PRO. However, clients have reported that these accounts do not offer the benefits and features promised by the broker. For example, clients who have upgraded to higher-tier accounts have reported no additional benefits or advantages.
One thing that caught our attention is that even the most expensive account doesn’t provide access to all tradable assets. This means that for 25K USD, traders can’t get full access to products. It’s clear that this broker is unprofessional, deceitful, and incompetent.
Deposit and Withdrawal
Another issue that clients have reported with ImportCapital is difficulty withdrawing their funds. ImportCapital has been known to delay withdrawals, citing issues with documentation or compliance. In some cases, clients have reported that their funds were never returned, leading to significant financial losses. This is a major red flag, as legitimate brokers should be able to process withdrawals in a timely and efficient manner.
To begin trading, ImportCapital mandates a minimum deposit of $250.
Note: Please let us know if you have had any bad experiences with this or any other scam broker.
How Does This Scam Operate?
ImportCapital operates as a non-registered foreign organization. This means that they are not authorized to provide financial services in many jurisdictions. They may also be operating as an offshore-based broker, which can make it difficult to hold them accountable for any fraudulent activities.
ImportCapital has been known to use dishonest tactics to lure unsuspecting victims, including offering unrealistic promises of easy earnings and using legitimate-looking websites to appear more trustworthy. Once clients have deposited their funds, ImportCapital may engage in fraudulent trading activities, leading to significant financial losses for clients.
Remember: All scam brokers operate by deceiving traders into depositing funds and then either manipulating trades or refusing to allow withdrawals. They often use false advertising and high-pressure sales tactics to lure unsuspecting victims. Keep this in mind.
The Best Foreign Exchange Brokers
When choosing a broker, always do your research and choose a legit and trustworthy broker. The best brokers are authorized and regulated by top-tier regulators, offer user-friendly trading venues, provide a variety of trading instruments, and have a record of reliable and efficient withdrawal processing. Let’s take a look at some of the top brokers in the table below.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
ImportCapital is a scam broker that has received countless complaints and scam allegations from its clients. The broker is not authorized, and clients have reported so many issues with the trading platform, accounts, and withdrawal processing.
ImportCapital may engage in fraudulent trading activities, leading to significant financial losses for victims. It is important to act fast if you believe you have been defrauded by this broker and to report any dubious activity to cybersecurity experts.
Is It Safe to Use ImportCapital?
No, it is not. You should always remember that this is a big broker scam.
Is My Money Safe with ImportCapital?
No. As this is a broker scam, your money is not safe with them.
Does ImportCapital Offer a Demo Account?
This broker does not offer a demo account. Be mindful of that.