RatingFX: independent rating of Forex brokers
MultiCapital: typical scam broker
Unfortunately, the FX market is full of fraudulent brokers who create quite elaborate schemes to deceive traders. That is why think twice before giving your money to someone as you may never get it back. Today we are going to tell you about another one quite typical dishonest broker - MultiCapital. This dubious enterprise disguises itself as a professional and reliable broker.
To start with, this broker knows how to attract potential clients. On its main web page, you can find a lot of impressive and luring words: "Experience the power of our trading platform with innovating trading tools and world class speed execution", "Your trading account is 100% safe and secure with us. All deposits and trades made are securely encrypted". Nevertheless, it is not so difficult to see this broker in its true colors.
Nadezhda, December 18, 2018
Moreover, its homepage is poorly developed. Only two languages, Russian and English, are available. After complaints about the unintelligible translation, the broker has improved it a little bit. However, the quality of the content still leaves much to be desired. Funny enough, this broker gives itself some flattering descriptions while the language of its website is rather dry.
Let us have a look at its contact details and certificate.
There is no need to say that this address is fake. Do not even try to visit the office or contact it by phone. The support service answers only once, usually after registration on the website. It needs to make sure that you, as a future investor, will stay with the broker.
MultiCapital has a certificate which allegedly proves that the company is reliable and licensed to work with customers. This certificate does inspire trust if not to go into details. It is not surprising that so many traders have been fooled.
First thing first, we need to check out the company that issued the certificate. The name looks trustworthy but in reality, CCRFM (Commission for Control and Regulation of Financial Markets) is practically unknown. Besides, there is no contact information. You can contact the representatives of the Commission only by leaving a message in the feedback section. It seems that this organization is an intermediary in the broker’s fraudulent schemes. Naturally, it can be just a coincidence but it is quite hard to believe. CCRFM and MultiCapital have been created at the same time. It gives food for thought.
Gerasimova Galina Mikhailovna, 07.12.2018
Multicapital cheating scheme
The fraudulent scheme of the broker is very typical and widely known. Representatives of MultiCapital call potential clients, offering to make money effortlessly under the guidance of analysts and professional traders. Clients can trade binary options, CFD, Forex, etc.
After some time these representatives just drain money from the clients’ accounts and ask them to replenish their accounts again. They even persuade their clients to take loans, offer to sell property, driving people into debt.
If traders realize quickly who they are dealing with and stop communication with the broker, its representatives start calling them offering help in returning the money. The same people or their colleagues call on behalf of a non-existent firm and promise assistance in getting back all lost funds. However, when money should be supposedly transferred to the trader, the failure happens. Instead of a refund, money is taken again from their credit cards.
Please be careful when you choose a broker. Do not be lazy and read about it on the Internet. Maybe it is a scammer and by checking the information you protect yourself from being cheated.
The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.