Beware! Nexus P Capital is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Nexus P Capital will undoubtedly lure you in easily because it has a very attractive and cool visual style. Even we were impressed with it. However, there is a certain feel that there is something missing about Nexus P Capital, and this missing spot is stuffed with visuals and filler texts. Speaking of texts, the website can be attractive but that does not mean that it is informative. In fact the details on thesite feel like they have been included just as a front for something else. Read the review to find out what Nexus P Capital is hiding, and if you should deposit you funds with it.
The registration process ended as soon as it began, and what it produced was a rather familiar user dashboard, that is a reminder of other brokers, all of which turned out to be illicit.
We opened a web based trading terminal. It is there that we were given insight that Nexus P Capital is actually a cryptocurrency-only broker; there are no other assets to be traded with. The maximum leverage for these crypto assets is capped at 1:20.
Please note that the website claims to offer other assets, like FX currency pairs, but what we saw in trading platform speaks for itself.
The website is in English and Italian, and so is the user area.
NEXUS P CAPITAL REGULATION AND SAFETY OF FUNDS
The only regulatory information is found at the end of the Terms and Conditions, where Nexus P Capital has written that it functions under the laws of St. Vincent and the Grenadines.
St. Vincent and the Grenadines is a small Caribbean nation that is probably the most popular location where illegal forex brokers operate from. There are literally hundreds if not thousands of illegitimate brokers that work from there. And even if in the last couple of months there has been talk of reforming the regulatory framework, nothing has been concrete thus far. For now, St. Vincent and the Grenadines has no financial regulator, meaning that all brokers there are completely unlicensed.
There is no other information on a possible regulation or a jurisdiction of power. Thus we have to conclude that Nexus P Capital is UNREGULATED. Unregulated brokerage firms are not safe for your deposits!
Traders should be trading with risk-free brokers, that hold licensed from renowned and austere agencies, like the FCA or CySec , which have made a name for themselves as some of the top regulators. Readers should be aware that both agencies have adapted very strict rules of conduct, and their licensing framework guarantees safety and security for all clientele. A good example of this is the segregation of accounts which assures that client money and broker money are kept in separate accounts. Furthermore, FCA/CySEC brokers participate in a financial reimbursement scheme that cover traders losses in case the broker becomes insolvent. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.
NEXUS P CAPITAL TRADING SOFTWARE
The only trading software that we were able to use was the web based Sirix terminal.
The Sirix webtrader is well known amongst the scammer broker people, because it offers a decent interface that seems complicated enough to fool most novice users into thinking that Sirix offers anything but a handful of decent features, that users will eventually get bored with. These elements are pending orders, one point clicking, chart customisation options, copy trading, and even social capabilities. Aside from that Sirix has no other meaningful features to set it aside from all the other trading platforms. We advice users to stick to the MT4.
Please note that the broker can close your trade positions in order to maintain an undisclosed maximum of open positions.
NEXUS P CAPITAL DEPOSIT/WITHDRAW METHODS AND FEES
According to the Terms and Conditions, the minimum deposit is $200. However, the payment area found in the user area reveals that the minimum deposit requirement is $1.Once we proceeded, we were told that the only methods for paying are credit cards, debit cards, and world voucher. This info contradicts directly with what has been written in the website, which is another proof of Nexus P Capital’s illegitimacy.
Withdrawals take 7 days to appear in a user’s account, according to the T/C. The withdraw section in the user dashboard gave us credit cards and wire transfer as sole methods. There is no indication on a minimum withdrawal amount.
The broker can charge its fees at any time without warning:
A $100 fee will be issued on withdrawal requests that have been made within the first 14 days of the initial deposit.
And here is where things get ugly. The Non-Deposited Funds provisions is here to say that users cannot withdrawal any profit made from trading. This clause is used excessively by the most illicit of brokers!
Dormant account fee is activated after 120 days of account inactivity. Such accounts will be issued a 10% fee or a minimum of $100.
Bonuses at Nexus P Capital are called Credit Token, and as such must be turnover in order to be withdrawal. The trading volume requirement is as follows: client credit token times 0.5 which equals the number of lots required to be traded with.
Requesting a refund with a bonus may lead to the closure of an account by the broker.
These provisions, especially the Non Deposited Funds one, are all proof that Nexus P Capital is illegal and is out to get you money. There is absolutely no reason for anyone to deposit here. We warn you that if you invest in Nexus P Capital, you will lose your capital!
How does the scam work?
Users will be in the middle of a scam without even knowing it, that’s how efficient these scams are. Yet, clients will also be surprised that the most utilized scammer structure is laughably easy to grasp, making it predictable. We have dedicated the following section to the reveal of how the scam works.
The internet is filled with ads, it’s the fuel of the industry, and a big chunk of said advertisements are misleading and some are downright deceitful. The ads concerned with unregulated forex brokers are often very promising, and most of the times utilize completely false claims of immediate profit. Those tempted enough will be redirected to a robo-scam website that further guarantees profits. The only thing that separates the user from the unrealistic promises is a fast registration process that requires a phone number and an email address. After inputting this info unsuspecting users will start getting phone calls from illicit broker representatives, whose one and only job is to initialize the scheme by pushing a trader to make that first deposit of around $250. After that’s done, the senior representatives will be calling. These expert scammers are extremely good talkers, and will start working on you to start putting even more money in. They say that the more money invested, the higher the profit will be. At this point most traders start seeing the big picture, and will want to withdrawal their money and get out fast.
However, the scammers have anticipated this development, and are ready to counter any withdrawal request. Typically they find excuses for delaying the request in the legal documents that hold specific clauses for these purposes. The reasons are many. One thing to remember is that all illicit brokerage firms will deny the withdrawal request for as long as they can, because of the imposed time limit traders have for filling a chargeback. Once the crucial due date is not met, any chargeback requests will be denied.
What to do if scammed?
Those of you who deposited using VISA and MasterCard wil be glad to know that both companies have extended their chargeback time span to 540 days, especially if the reason for it is an online scam.
Scammers will steal directly from a bank account, if the traders has provided crucial details, like banking password or security code. If it get down to this, be sure to either block the account or change the password.
Sometime victimized users will stumble upon the so called recovery agents that promises to magically reclaim all lost investments, for a fee that is. Needless to say, they will not get back any of the lost funds, and will basically scam you a second time.