InterCapital Review – Facts About This Scam Broker
InterCapital is one of the least transparent companies that we saw recently. They are another offshore broker, based in the Commonwealth of Dominica, that is hiding something.
They don’t provide any ownership information, office location, or licensing info. Therefore, if you were thinking of investing any money with an InterCapital broker, just wait for a second.
Having experience with those and many other scam brokers alike, we felt we should unveil the truth behind this firm’s operation. And in this in-depth InterCapital broker review we will shine a light on this investment scam.
|Company||Interco Holdings Limited|
|Address||Commonwealth of Dominica|
Compliance and Fund Safety at InterCapital
Regulation matters for a few reasons. First and foremost, if a broker has a license, especially a Tier 1 such as FCA, ASIC, or BaFin, you have a money-back guarantee. These regulators demand Forex firms have significant compensation funds, which are used to reimburse potential victims.
Now, the issue is offshore firms, such as InterCapital Forex brokers. They have loose or no regulation at all, meaning you can easily be defrauded, and there will be no authority body to assist you.
As the company is based in the Commonwealth of Dominica, it should comply with domestic FSU regulations. However, in their database, there is no mention of this broker.
Even if the broker is anonymous like InterCapital, all details still can be revealed. When you analyze everything step-by-step you understand why not to invest your hard-earned money with brokers like this.
Trading Software Overview
While advertising trading like a pro, the only InterCapital trading platform is Webtrader. Knowing that there is far more serious software like MT4 and MT5, we can already tell this firm knows nothing about being a pro.
It doesn’t provide the most advanced trading tools like EAs, social or copy trading and, as such, it is not suitable for experienced traders. However, web-based platforms depend on the browser and they are not with fast executions.
InterCapital WebTrader is a basic TradingView chart with several indicators and unregulated leverage of up to 1:400.
The broker presented availability for Android as something special. But any Android device has a browser that can access this web-based platform. Besides that, it doesn’t provide any more features so it’s completely useless.
In our opinion, we would skip this offer, for numerous reasons already. The choice is yours just think twice before investing any money here.
Account Types Available at InterCapital
If you are still looking to invest with this broker, here are the account types:
- Standard $2,500
- Silver $5,000
- Gold $10,000
- VIP $50,000
- Pro Unknown
Higher accounts don’t bring you any high-quality features or advantages. Only higher leverage, more experienced account managers, and more education programs. So, what you can expect after making an initial deposit of 250$ is to be pitched for more. Very quickly and very efficiently.
There’s also an InterCapital Demo account for all those who want to check out the platform. Note that the demo is a risk-free account. Once you invest actual money, you will go through hell trying to recover it.
Funding Methods at InterCapital
Another unclear thing about this broker is its fund policies. If you are depositing, just make sure that you are using a debit/credit card so that you are entitled to a chargeback.
What we find interesting throughout their T&Cs is that during the withdrawal procedure, you might be asked to provide additional documentation according to the company Credit and AML laws. That’s one of the most common tricks to prolong the withdrawal process. Of course, after that many other excuses are coming.
How the Fraud Has Carried Out
These fraudsters pose as brokers to take advantage of the general public’s lack of knowledge of trading. And the agents calling are professionals who have many ways to get you on board with making an investment.
Ads that can be found online are full of fake stories promising easy earnings. Once you decide to leave your personal information in order to find out more about this, the agents will call you daily to try and convince you that what they are offering is a legit thing.
So, in case you have ever been scammed by this broker, remember that getting your money back is possible but it just takes time. We would be thankful if you can share your experience with us since we can help you report your scammers to the authorities.
While making this broker review we found that InterCapital is a Commonwealth of Dominica-based broker that follows no regulations and therefore offers no safety for trader’s funds.
The minimum deposit requirement is also allegedly set at $250, which is just too high and almost never seen with a regulated firm. On top of that, their trading platform is just a basic web trader that doesn’t even work properly. Overall, they are not worth your time.
Lastly, the broker allegedly offers a demo account for potential traders but you can’t sign up for it properly, which never happens with licensed brokers.
We always encourage you to follow a good rule of thumb and to carefully review as many forex companies as possible before you swipe a card. And also remember to always think twice before investing anywhere and make sure you read the reviews first.
FAQs About InterCapital
Can I Rely on InterCapital?
No, you can’t rely on this unregulated firm so you should avoid investing your hard-earned money in this scam.
What Types of Accounts Does InterCapital Provide?
InterCapital has 5 different account types which are: standard, silver, gold, vip and pro.
What Is the Minimum Deposit Requirement for InterCapital?
The minimum deposit requirement with an InterCapital broker is set on $250.