Forex Broker

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.

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: Gephim | 日期 of  2019-11-12
Broker from the UK? Really? Who really manages everything? I searched and saw more than one site that claims to be official. Suspiciously.
作者 of multicapital_typical_scam_broker: Clleikat | 日期 of  2019-12-06
Me too. You can find out real detailed information about the company in google, people leave comments and articles, you can read them all, so don't believe every word that you hear.
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