Beware! Ark Capitals 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.
Ark Capitals is introduced as a leading global online trading provider, offering Forex, CFDs, Indices, Precious metals, Energies and Crypto derivatives. They provide MetaTrader4, tolerable spreads, but leverage levels we consider highly unacceptable. In fact, we detected the broker making fraudulent claims, so make sure to read the full Ark Capitals review first.
Ark Capitals REGULATION AND SAFETY OF FUNDS
Ark Capitals is introduced as Seychelles regulated broker, but that’s falsehood. Upon research, we could only verify that there is such a company in St. Vincent and the Grenadines only. Indeed, in the Terms, Ark Capitals claims to be a brand of a company registered on the island, which is a problem nonetheless. The business entities registered in St. Vincent and the Grenadines are virtually anonymous, and the local regulator SVGFSA doesn’t even regulate Forex brokers. So, your funds won’t be safe if you deposit with Ark Capitals because it’s unlicensed and a suspected scam due to the false claims they make.
Avoid it and better consider the high-rated EU brokers and British brokers, which are adequately regulated and, most importantly, covered by deposit insurance funds. Hence, if you trade with a CySEC broker, you can claim up to 20 000 EUR in compensation, while the British protections are up to 85 000 GBP per person. The guarantees ensure an extra layer of protection, so it’s worth opening accounts with European companies.
Ark Capitals TRADING SOFTWARE
Ark Capitals delivers MetaTrader4– a leading platform dominating the retail market for more than a decade. The EUR/USD spread is 1.3 pips fixed, which is not too bad a Buy/Sell difference. However, most of the regulated brokers are less costly and offer 1 pip, and below even with their micro accounts, so it’s not worth wasting your time with a suspected scam like Ark Capitals.
Instead, consider the high-rated MetaTrader4 brokers and MetaTrader5 brokers, which are safer and offer better trading conditions. In addition, the MT platforms are packed with sophisticated features such as Expert Advisors, complex indicators, and first-class charting tools. MetaTrader also comes with a Marketplace where traders can find more than 10 000 apps, which is an unmatched advantage.
The maximum leverage possible is 1:1000, an exceptionally risky ratio no one should use notwithstanding their experience. Well, 1:1000 leverage is pure gambling, and each trade executed becomes an all-or-nothing option because the margin call level is just a few pips away from the opening price.
In fact, leverage is so dangerous that many regulators restrict its usage to reduce traders’ risks. As a result, EU, British and Australian brokers have to limit retail clients to 1:30 for FX majors, while Canadian brokers and US brokers to 1:50. Overall, most high-leverage FX companies are poorly or not regulated at all, so you’d better remain sceptical.
Ark Capitals DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit with Ark Capitals is $10, seemingly a favourable requirement if only the broker were legit. The funding methods are supposedly Credit/Debit cards, Wire Transfers and cryptocurrencies, but we can’t validate this information because our account is still pending. As Ark Capitals is so shady, we refused to upload copies of personal documents and bank cards because the identity theft risks are very real.
While on funding, check some Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have trusted payment systems. The companies topping the lists are adequately regulated, and you won’t face scammers if you choose among the high-rated ones.
There is no information about withdrawals or fees, so generally, traders should be able to take out any amount they want. However, Ark Capitals is a suspected scam making fraudulent claims, and we can’t take their word for granted.
The inactivity fees are disappointing, though. According to the clause, after only 3 months of inactivity, the account becomes dormant and will be charged $25 every 6 months. That’s around 5 dollars per month, which is generally in line with the industry standards, but Ark Capitals puts the account dormant too soon.
As far as we could understand from the Terms, the broker generally offers deposit bonuses, but there is nothing about the campaign. However, Ark Capitals is going to reduce all spreads to 0.1 pips if traders deposit more than $10 000, which is indeed a form of trading incentives. We don’t think it’s a good idea to throw 10K when legit brokers offer such a spread for much lower deposits.
Overall, Ark Capitals is unregulated and a suspected scam, which is more than enough for you to avoid it.
HOW DOES THE SCAM WORK
Today, the Internet is plagued by scammers and their deceitful deals. It all starts when you click on an appealing fraudulent offer and provide your e-mail and contact numbers. Scammers, as seasoned manipulators, would ring you at once, insisting that you should start investing as soon as possible. During the phone call, you’d be presented with bonuses, promotions, risk-free offers, Bitcoin opportunities, and anything else you could possibly imagine. Scammers would claim to work with reputable firms, banks, governments, and so on, trying to make their business appear legit. Those thieves lie big time and would promise you anything to gain your confidence and get a deposit from you.
However, the first deposit is just the beginning. Day by day, scammers would carry on asking for funds. If you lost, they’d persuade you to put more money and recover the losses. If you are profitable, you’d be asked to put more money and increase the gains. The headaches start as soon as you ask to take your money back. The scammers would do whatever it takes to discourage you and would even urge you to deposit again if you want to withdraw. The scammers’ mantra is “give me your money”, they’d push you to transfer more money over and over again for no obvious reason. Urgency is a treacherous sign, so if someone forces you to invest ASAP, that’s a scam.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is safe from scams. If you get defrauded, the first thing you need to do is to protect yourself from further risk. Deactivate your card immediately, contact your bank and ask for advice.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!
Remember, it’s crucial not to rush blindly trying to recover your funds because fraudulent fund recovery agencies are trying to double scam the victims. They ask for upfront payment, take the money but don’t do anything to help you!
Last but not least, share online your experience; it’s important to inform the public about scams. Be responsible!