Beware! EasyCapitals.com 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.
We quite like the approach that EasyCapitals.com has taken towards its delivery of services. The services themselves are another story, but the interface and the way the site is structured is worthwhile. The texts are just right in quality as to never be overburdening, while all the imagery is the commonly used stock images of the office workplace. Moving on to the quality. Now here is where EasyCapitals.com falls short. Most of the texts feel like they are just put there to fill in the gaps, while those that do provide some useful info cannot be all too trustworthy. The following review will reveal more. Please read on.
The account creation procedure was simple, and it required of us only four credentials before introducing us to the client area. The dashboard did nothing out of the ordinary and was actually a very average looking place. What halted our progress was an issue with the trading software, or rather the broker itself. Because of this predicament, which we will expand upon, we believe that there is no trading terminal used by EasyCapitals.com. Therefore, any spread, leverage, and assets are not applicable.
The website of the company can be accessed in English only.
EASYCAPITALS.COM REGULATION AND SAFETY OF FUNDS
If it weren’t for this review, the only way that you would hear of EasyCapitals.com is only if the broker itself contacts you, or if you stumble upon it by chance. But the probability of this happening is significantly low. This is because EasyCapitals.com is untraceable.
The broker shares absolutely no details that would help us locate it. There is no mention of a license, the contact address is a mystery, and there are no legal documents. This company is completely anonymous.
EasyCapitals.com is a broker only by looks. By function, it’s a scam, and a good one at that, because it has decent visuals to back it up. Not to mention that it is UNREGULATED.
There is absolutely nothing one can gain from depositing in an unregulated broker. We urge readers to check for a license prior to investing. The FCA and CySEC are the most popular and some of the best regulators in the world. These two, among other superb overseers, have gained the reputation of being the best through years of regulating some of the world’s top brokers. Watchdogs employ a huge set of rules by which every single broker under them has to abide. They include minimum capital requirements, segregated client bank accounts, the guarantee of funds’ safety, etc. All users under the FCA or CySEC, are eligible for compensation, in case the broker at hand cannot pay its dues. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
EASYCAPITALS.COM TRADING SOFTWARE
The broker promotes an MT4 trading software, but here the deal- the platform download link gives us some trading software under the name capitalcominvestment. There is no way for us to verify if this is the actual broker’s parent company name or some completely unrelated firm. Since there are no legal documents and absolutely no information on any sort of regulation, it is our belief that capitalcominvestment is some arbitrary name, and thus has no affiliation with EasyCapitals.com. That is why we conclude that there is no trading software at play here.
We have concluded that EasyCapitals.com is unregulated and all of the trading info is fake on the website, now we learn that it offers no trading software. The only thing users can do at EasyCapitals.com is to deposit funds into a scheme that will never return it to them.
EASYCAPITALS.COM DEPOSIT/WITHDRAW METHODS AND FEES
The client area reveals that the minimum deposit is just $1, meaning that there is no limit. It was interesting when we found out that the only depositing method was Skrill.
Withdrawals can be received also by Skrill or through a Bitcoin wallet. The minimum withdrawal amount is $10.
Compared to the information on the website concerned with payments, the user area reveals a very different truth. The website claims some ambiguous payment details that do not match to what we found in the trader area.
EasyCapitals.com is incredibly untrustworthy and a complete and utter scam! Never invest in this one!
How does the scam work?
Most fraudulent brokers gain their reputation because of the usage of the scheme, the most popular scheme of all in fact. Its ultimate goal is to steal from users and continue doing so until the users sniff them out, or he or she gives up. The scam follows a number of simple steps, but it is worth noting that many unregulated brokers put their own unique twist on it.
The first step is to bait the user. This happens through the usage of online ads, that appear mostly on social media websites or other similar online sources. The scammer ads are distinguishable by their outrageous promises of wealth and profit through trading, investing, or binary options trading. These advertisements showcase a luxurious life and a care-free lifestyle.
Once a user falls for these tempting clicks, he or she will be asked to provide a telephone number or an email address. Giving these away means that the broker’s first wave of representatives will be contacting you. Their one and only goal is to make one deposit. Furthermore, some brokers choose their targets based on how easily manipulated they are.
An initial deposit means that you are knees deep into the scam. The time has come for the expert scammer, a.k.a the account managers. These are relentless, compelling, and at times charming. They can easily enforce their influence on a trader, and sooner or later this trader will be depositing a second, or third, or fourth time.
At some point during the scam, the user will start getting suspicious as to why she hasn’t been paid yet after only deposit for weeks on end. Every withdrawal request will be met with resistance, and depending on the broker the ways of refusal vary. Some might change your mind and solicit you to deposit more, others might close down the user account, or shut down the entire website. A popular method is to stall until the scammer can completely disappear.
What to do if scammed?
The best advice we can give for those that have been scammed is to file for a chargeback as soon as possible. All credit and debit card companies should have this option on the ready. Note that MasterCard and VISA have extended their chargeback period to 540 days.
Bank transfer payments mean that the scammer can potentially get access to your bank account, so it is crucial to change your password and user name. Another good piece of advice is to contact the bank itself and check with them if they have a ready to go plan for such circumstances.
As for crypto deposits, they most surely are gone. That is what it is paramount to remember never to invest in a shady broker through any sort of cryptocurrency.
A final piece of advice. Victimized users might stumble on recovery agents or agencies, who will promise to get your money back, but not before you pay them a hefty fee. Once the charge is paid, they will sooner or later disappear without helping you even one bit.