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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
MultiCapital is a scam broker. Be sure that it won’t give your money back. More probably you will go into debt. Stay away from this deceitful broker!

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.

Our Office
Address: Аlрhа Glоbаl GА LР, Suite 1, 4 Quееn Strееt, Еdinburgh, EH2 1JE, United Kingdom
Phone: +44 1628 421430
Email: mail@multicapital.trade

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.

At first sight, the MultiCapital’s documentation seems sound, and it can even be added to the broker’s advantages. Traders can easily find information on privacy policy, funds withdrawal, customer agreement, etc. Apparently, the broker got legal help in order to build such a solid ground for its website. Therefore, the broker created a perfect trap and a lot of traders got caught in it. You can find their revives below:

Valentin, 10.12.2018
Oh, my Gosh! How many websites they have! They conned me out of $700. That was all I had. They even tried to make me take out a loan for $2,000. Do not download anything and stay away from this scam broker!

Ksenia, 21.02.2019
I was surprised when I found out how many people had been deceived by this broker. I wish the scammers from MultiCapital would eventually get what they deserved – a prison sentence!

Galina, 20.01.2019
My husband and I had lost €5,000. MultiCapital blocked my account and fraudulently took money from the credit card. I tried to get it back through the boutique but it was unsuccessful.

Gerasimova Galina Mikhailovna, 07.12.2018
Hi! This broker deceived me as well. I lost $2,050. It happened just yesterday. I cannot believe that I was cheated so easily! Does anybody know what can be done or where I can write about it?
There are far more negative reviews on the Internet. If you want to read them, it will not be difficult for you to find some.

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.

Nadezhda
On December 5, I received a call from a young man who introduced himself as Alexander Martynov from MultiCapital. He offered to help me learn online trading. Being a disabled person, I have enough free time. Back then, I needed the money and thus I was glad to get such an offer. When I said that I was interested in his offer, he switched me to another telephone line. Then I started a conversation with a girl whose name I did not catch. She spoke so quickly without giving me much time to process the information. At one moment, I noticed that her mouse cursor was on the screen of my computer. At first, I was thinking that it was just a part of the training. She told me to check my personal account and sent her the code. I noticed that the second payment was already made from my credit card. I began to tell her that I did not like all this venture and I did not want to continue. However, she seemed not to hear me and just repeated the same words "your money is in your account". She showed me my personal account №269514. I opened my mouth when I saw that they took money from my bank deposit and transfer it into my account on their website. Luckily, Sberbank called and explained to me that I fell victim to scammers and blocked my bank account. I lost 20,000 rubles without any means to pay off my loan. Those scammers withdraw money from my bank account without my permission. Later, they called me non-stop assuring that they would return my money after the verification of my account.

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.
Author: Hichri | Date 2020-05-26
The biggest mistake I did when I was only starting in the Forex industry was not thoroughly checking the company about its legitimacy. I often easily get lured by promises and grand offers that I forget about the existence of frauds. This happened to me with MultiCapital and I only ended up losing more than $500. This broker promised me to have guaranteed returns at the end of each trading season and that was what made me open an account with them. To other traders out there, please be more careful in choosing your broker.
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Author: Eugene | Date 2020-05-12
MultiCapital offered a wide range of choices for trading instruments. They also promised me that I will be guided by a trading expert and would help me grow my investment. I started at this broker with a hundred dollars. After a month of trading, my fund really increased. I got so motivated thus I immediately followed the advice of my manager to add more funds. I added $500 and this is where it went downhill. After making my second deposit, the trading expert could no longer be contacted. Even the support team is not of any help. I tried to withdraw my fund but the company did not allow it.
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Author: Vasile | Date 2020-04-29
MultiCapitals promised to help me in my trading journey. They promised that I will be assisted whenever I feel confused or lost. That is why even though I don't really have enough experience with Forex trading, I still opened an account. Surely, this is a mistake that a novice like me would commit, and feel so ashamed of myself. But this has been done and I know that it is not my fault. The one at fault is the broker. Fraudulence is a crime and this should never be done.
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Author: Jamnarn | Date 2020-04-22
It is not enough that we see that the broker claims that they are regulated. They could be claiming that they are regulated by a certain authority when in fact it is not. Worse, like MultiCapitals, they even used a fabricated name of a regulatory authority. This is the mistake that most new traders do which leads to their unfortunate fate. They don't fact-check the information that the broker includes in their websites. It is understandable especially when they have already talked with one of the employees and their trust has already been earned. But, we should remain skeptical especially since we are investing our money.
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Author: Lasilo | Date 2020-04-14
Three years ago, I had an account at MultiCapital broker. I was able to trade with them for only about three months because I did not like their platform. I often encounter technical problems with it which affects my trading activities hugely. Apart from that, their customer support is also not as reliable. Whenever I raise a concern, I am often told to wait and then they would no longer get back to me. Since this is the case, I decided to close my account. The broker closed my account but they did not give me my remaining balance. I am also blocked from their communication channels.
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Author: Hanniey | Date 2020-04-07
I can't believe that this broker has made me blind. I did not even realize that this company had a lot of websites. The link was already provided to me by the representative from this broker so I never knew. If did, I probably would have had my doubts. I deposited a total of $500 on this company and that is such a huge amount for me already. But this broker never let me withdraw anything. After a few attempts of withdrawing my fund, this broker closed my account.
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Author of multicapital_typical_scam_broker: Sudipta | Date 2020-05-08
These people do know how to manipulate their clients and how to keep us blind from reality. They keep our interest in the company by promising us with better results and manipulating out trading platforms so it would show that we profited. This is the time when I felt the most foolish. I don't think that our funds would still be returned to us but I just want the owners of this broker to be punished as they deserved. I also hope that they would no longer be allowed to operate more businesses.
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Author: Federica | Date 2020-04-01
When I first visited the website of MultiCapitals, I knew right then that there is something wrong about this broker. The information in their website is not complete. The certificate which they are boasting about does not look authentic at all. People with enough experience in Forex trading would know it as well. That is why it is understandable that the victims of this fraud broker are newbies. Especially when their sales representatives are good. They are able to get the trust of their potential clients and eventually convince them to start an account.
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Author: Merilyn | Date 2020-03-23
MultiCapitals have been recommended in one of the forums that I often visit. I became curious so I visited their website. When I got there, I was disappointed. Their website is plain and does not contain enough information. That kind of appearance will not attract a client at all. That is why I am in awe to know how they were able to attract clients. They must have devised such an incredible marketing strategy to have fooled their traders. I hope for people to become wiser in choosing their brokers.
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Author: Rosabel | Date 2020-03-20
I have already been seeing MultiCapital on different websites that are listing scam brokers. I don't usually believe those because some of them are paid or affiliated with other brokers. But I still did not take any risk. I stayed away from this broker and crossed it out on my list. However, I recently found out that one of my friends opened an account at this broker and now she is frustrated because the broker doesn't want to release her fund.
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Author: Kiko | Date 2020-03-09
Fraudulent brokers have become rampant in the Forex market. It is very difficult now to identify which brokers are legitimate and which are not. MultiCapital appeared trustworthy especially their representatives. I opened an account with them only because of what they told me. I deposited quite a huge amount and it was drained by my own account manager. She asked me to replenish my account and when I did, she did the same thing-- lost everything I have.
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Author of multicapital_typical_scam_broker: Wera | Date 2020-05-21
I had the same experience as yours and this is what I learned from it: never trust so easily. I guess our mistake was to blindly trust them. We relied solely on their promises but these were mere words. I admit that I too was at fault because I did not do my part on verifying what the representative has told me. I was swayed by the offers and I got so lured in by the promise of guaranteed results. But now, I know better. I won't be fooled again.
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