Capitalcore, This broker does its best to appear legitimate but only at first glance. Behind the flashy website, there are a whole host of issues.
The primary concern is the fact that they do pretty much whatever they can in order to get their clients to make a deposit via cryptocurrency. This alone is a big enough red flag to send traders running.
Coupled with the fact that they are based in St. Vincent and the Grenadines is indication enough that this is nothing but an investment scam.
Traders should be on the lookout for red flags even if at first glance a broker seems legitimate.
|Address||Beachmont Business Centre, Suite 285, Beachmont, Kingstown, St. Vincent, and the Grenadines|
|Phone||(+1 (623) 920-0100623)|
Capitalcore License and Security of Funds
Capitalcore is yet another broker that is located in a country that has no real financial authority or regulatory body.
Operating out of St. Vincent and the Grenadines this brokerage is not subject to any of the regulations that legitimate brokers have to comply with.
A popular choice for offshore brokers SVG’s FSA monitors the banking sector but has no oversight of Forex trading. This makes SVG a prime location for scam brokers.
It is crucial that traders keep to investment firms that are regulated preferably by tier-one regulatory agencies such as ASIC, BaFIN, CySEC, or the FCA as this is pretty much the only way an investor can be protected.
Trading Platform Available at Capitalcore
One of the only upsides to this scam broker is the fact that the platform that they offer is the industry favorite, MetaTrader5.
This, of course, is no reason to deal with such an obvious investment scam but we like to give credit where credit is due.
MetaTrader5, being an industry favorite for legitimate brokers, means that there is a copious amount of legitimate and well-regulated brokerages that offer this exact same software.
Why this software is so well-liked in this industry it is because of the nearly endless customization options and the diverse panel of tools that users are given.
Capitalcore’s Deposit and Withdrawal Options
Capitalcore accepts 2 payment methods – e-wallets like Payal and cryptocurrencies. It should be noted that this broker only accepts payments via PayPal if the account making the payment is “verified”.
This is a huge red flag as this means that the vast majority of people who do not have these verified accounts will have to pay in crypto making the payment untraceable.
It is a common occurrence amongst scam brokers to guide their victims towards paying in crypto as there is nothing that can be done to retrieve these payments once they have been made.
In terms of making a withdrawal, this broker has gone the common route of making any kind of withdrawal for any amount completely impossible until a certain turnover has been reached.
Brokers generally do this when they have absolutely no intention of realistically making a withdrawal possible.
How the Scam Is Conducted
Investment scams have all started to follow an extremely similar pattern. The first step is reaching a large audience via social media ads and then making an offer that is far too good to be real. This is all done, of course, in exchange for some of the victim’s contact information.
If the victim does not sign up for the scam, then and there the broker starts to harass the victim until they give in.
At the point a victim transfers money to the broker, they can either try to bleed more money out of them or just end the communication then and there.
It is important that traders are well-educated about the warning signs of scam brokers. One of the ways a trader can educate themselves is by reading articles such as this Capitalcore review before signing up with a broker.
Forex Brokers Highly Suggested
In order to help you stay far away from scam brokers like Capitalcore, we have compiled this list of legitimate and regulated brokers. They all provide healthy trading conditions and a wealth of educational tools.
Take a look and choose one. Your funds will be protected by a Tier1 license.
|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|
This broker does everything it can to appear as a legitimate brokerage. However, this all starts and ends with a well-designed website. Once clients take a look at any of the information available about this broker it becomes obvious that this is nothing but a scam.
The most alarming thing is that they require their non “verified” clients to pay via cryptocurrency. This is a commonality amongst scam brokers as this is a completely untraceable retrievable payment method.
With this broker, clients can also look forward to a completely impossible withdrawal process as the broker has made it impossible to withdraw funds until a certain unreasonably high turnover rate.
Capitalcore adds to all of this by being based in SVG and, by extension, completely non-regulated.
The two redeeming qualities of this brokerage are the fact that they have a very low minimum investment fee of only $10 and that they use the industry favorite MetaTrader5 trading platform.
This, however, is not a good enough reason to risk trading with them as there are many legitimate brokers that provide even better trading conditions.
FAQs About Capitalcore Broker
How To Deposit Funds Into My CapitalCore Account?
This investment scam tries to make its clients deposit their funds via untraceable cryptocurrency.
What Is The Capitalcore Minimum Deposit Amount?
The Capitalcore minimum deposit requirement is just $10 although larger deposits are highly incentivized.
How To Request Withdrawal and What's The Procedure?
The withdrawal procedure is basically set up to be impossible as there is a minimum turnover requirement that is realistically unreachable.