CapitalFunds review – 5 things you should know about capitalfunds.co

CapitalFunds review – 5 things you should know about capitalfunds.co

Beware! CapitalFunds is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

UPDATE: On 28th of August, just two days after our review, FCA granted Capital Funds with an official warning!

CapitalFunds is a totally anonymous broker. It is unknown where they are registered, there aren’t even an e-mail or a contact number shown on their web page. But they claim to operate branches in London, Zurich and Singapore. They also introduce themselves as an award-winning company and enlist many prizes won, but it’s a lie, we discovered that the most of the competitions listed are non-existent.

Also they declare to have been founded in 2005, however, a quick inspection showed that the website has been running since 2019.

In fact we do not know if there is even a company standing behind this website. Avoid CapitalFunds, there are too many scam signs which we are going to expose in the next review.

CapitalFunds REGULATION AND SAFETY OF FUNDS

CapitalFunds is undisclosed, shady entity which isn’t controlled by any financial authority. We do not know anything about the people standing behind this website.

Your funds are not in safety, stay away from CapitalFunds! Our advice is to have a look at the legit EU and UK brokers, which are strictly supervised and not surprisingly are the leaders in the retail Forex industry.

The main reason that makes EU and UK regulated brokers so popular is the transparency, also, they comply to many different rigorous rules, implemented for the benefit of the traders. A fine example of such policies are the money protection schemes, which guarantee the funds deposited by the traders. In Cyprus they are guaranteed of up to 20 000 EUR per client, while in the UK under FCA supervision the guarantees are even of up to 85 000 GBP. Also each broker is obliged to maintain negative balance protection of its customer accounts, meaning that a trader cannot lose more than the sum deposited.

CapitalFunds TRADING SOFTWARE

CapitalFunds does not offer MT4 or MT5 on their Main Page. However, upon registration there were 3 different options- MT4, Metatrader Webtrader and Status Webtrader. No demo trading available! We tried to set up demo MT4 account, but unsuccessfully.

The sign-up process was quick and easy, it didn’t take more than a minute to register. Logged-in, we noticed that their Dashboard is identical to the one used by Finfuture and Investactive, only the name was different.

CapitalFunds offers 5 types of accounts, but in none of them are presented any details about spreads, margin requirements or leverage. If you open their Status Webtrader, however, you will finally discover their spreads, the EUR/USD is unusually high, more than 8 pips in the beginning of the New York session, when normally it shouldn’t be more than a pip. We also spotted that the leverage is fixed at 1:100, with no option for adjustment.

CapitalFunds demonstrates strange behavior, they do not list Metatrader as their trading platform on their Home Page. The rest of the brokers in the industry will proudly announce that they offer MT4 or MT5 accounts, but CapitalFunds is hiding it from its customers. Very poor presentation and overall service provided by them, stay away, they do not act like professionals.

CapitalFunds DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit required is 500 USD. There isn’t much information about the funding methods, in their T&Cs they mention only wire transfers as an option. But if you are logged in, there is a deposit button and it looks like that the way to deposit funds is totally different than their explanations. We gave their payment system a try, but it was broken at the time. It seems that CapitalFunds has nothing to do with a broker, at all, and the website itself is just another one, operated by scammers. If this is true they might have completely forgotten about its existence. Here is the result:


The minimum withdrawal for wire transfers is set to be 250 USD. A minimum withdrawal on any other method is 100 USD, but no funding or withdrawal alternatives were listed in their T&Cs. Lack of competence, once again.

Each wire transfer is subject to 50 USD fee. Also, a levy of 10% of the withdrawal amount will be charged to any withdrawal from an account that has not executed more than 200 in turnover and/or from accounts that have not been verified. The withdrawals will be processed within 2 to 5 business days.

Special attention should be paid to the Non-Deposited Funds. These funds are not available for withdrawal, and may be assigned in certain occasions, for example, when an account is indebted! The time is appropriate to recall that EU and UK regulated Forex brokers are forced to maintain negative balance protection of its customer accounts, which means that the losses cannot be greater than the sum deposited. Under FCA or CySEC supervision indebted Forex accounts are impossible! Keep your money safe and stay away from CapitalFunds!

There are some bonuses offered, but nothing specified. The only thing we came upon was that in order to make a withdrawal you have to execute a minimum trading volume of 25 times the deposit amount plus the bonus issued.

Dormant accounts are subject to a deduction of 10% each month.

HOW DOES THE SCAM WORK

A group of scammers usually operates many different scam brokers, scam websites and call centers. Sometimes they will simply rely on the quantity, they will publish tens or hundreds of websites and will just wait. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.

Many of these are identical in appearance, only with their names and logos changed. For example, the websites CapitalFunds.co and 10CryptoMarket.com look like twins, 99% the same. This fact itself should be enough to make you stay away from CapitalFunds! Still, there is no official scam confirmation, but the red flags are way too many.

The most effective way to avoid scam is to trust only licensed brokers which are authorized and regulated by a financial authority such as FCA or CySEC. Under their supervision it is impossible for a scam broker to survive, always do the research, stay informed!

WHAT TO DO WHEN SCAMMED

The scammers are constantly changing their strategies and no one must think he is safe. If being scammed the first thing you should do is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

Share online your experience, it is important to protect others, as well. Be responsible!

Avoid CapitalFunds, it’s a shady entity!

Rich Snippet Data
Review Date
Reviewed Broker
CapitalFunds
Broker Rating
11stargraygraygraygray

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5 Comments

  1. Thank you for highlighting this company, having dealt with them since July 2020 as a complete novice who had answered an ad about buying bitcoins..I became involved and eventually got completely out of my depth. My initIal deposit of €250 rapidly became a further €300. I received phone calls daily from my “financial advisor” Frank Vega who encouraged me to download an app called “ any desk “ from this his company could take over control of my desk top. On this he showed me graph showing how much profit I was making. This continued until approx 12th July when Frank told me of a once year opportunity to invest in bit coins which guaranteed a huge return..he himself was buying two slots for himself and two for his partner/wife.and he was reserving two for me, I told him I did not have access to the £14,000 it was going to cost for two bit coins and was told it would only have to be £12000 as there was already some in my account to make up the difference.he then offered suggestions as to how I could the raise the necessary funds. He asked if I had any credit cards and I told him yes I had one for emergencies. He said if I could get £12000 from it, I would be looking at doubling it and getting all my cash back before any interest needed to be paid. I got the funds from my credit card and was a day late in catching the deadline of 17th July however he said this was not a problem as he had reserved two slots for me now all I had to do was sit back and wait until 17th August to withdraw my profits. On the said date I was informed that my investment was already on £34,000. And I asked for a withdrawal of the original £14000 in order to pay off my credit card. He suggested I took out £24000 and left £10000 for future investments. Then he hit me with the fact that they could not just transfer this amount to my bank..it was in an ESCROW account and it required me to send £5000 In order for it to be released to me…. since that date Frank has been in constant touch asking me if I had raised the money ….I have told him repeatedly that I do not have that amount.. Yesterday he contacted me with plan B which is if I give them £1000 they will be able to transfer £5000 to my account which would then enable me to send the necessary funds to release the full £24000 owing to me. I am now totally convinced that I have been the victim of a scam and at my age,74,I should have known better If reading this saves even one person from being scammed then it will have been worth my time and humiliation.

  2. Rosemary Peerless Ellert

    Carol Waters … I can sympathise and empathise with you as I had EXACTLY the same experience with Frank Vega. I am 78.. jasper.a was the first to contact me and i now think he and Frank are the same person. I invested £3000 being told he would put it on a platform that would AT LEAST double the money. At the end of the month he told me i had made £7000 profit. I was delighted as i wanted to help my grandchildren who had lost their jobs due to covid19. I asked for the money to be sent to my account leaving the original investment for further investments. He said that would be easy all i had to do was to send £2000 in order to open the necessary account in order to get the investment and profits deposited and from there they would deposit the money in my bank. I did think it strange and after lengthy discussions I, very reluctantly, sent a further £2000. In spite of sending numerous emails I have had no word from either FRANK VEGA nor JASPER.A nor TROY.G who was the ‘accounts’ person who transferred the £2000 from my account. Keep away from this company or any company that has anything to do with the above names. I know i have been scammed and i am very annoyed with myself for falling for it and it has put me in a very bad financial place. Wish I knew someone who could help get my invests of £5000 back.

  3. I got a call from frank as well and deposited 300 pound into an account which they showed me how much profit . He then asked me to give them 4000 pound and I told them that was not what I signed up for . They try to trick your mind and show you how much money your making I asked them to prove to me by putting money into my account and this never happened I think I’ve been ripped off for 300 quid which I was willing to tske a chance with but it really could have been soo much more if I had needed into there bullshit .
    I know not a lot about this field of making money but if your reading this you need not get ripped off by this mob . Educate yourself on proper companies through teading and stuff first . 300 quid is replaceable bit it could have been all of my savings. Bastards

  4. I have been scammed I think as I have exactly the same problem with frank vega ! Has anybody tried other ways of getting there money back ?

  5. Yep me too….but they are clever using a regulated BTC wallet and help you with the process by using any desk and logging on to ” Widenex” who then transfer the sum to Capitalfunds. They are nothing but heartless bastard scammers tarketing vulnerable people trying to supplement their income

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