DigitalCapital review – 5 things you should know about digitalcapital.cc!

DigitalCapital review – 5 things you should know about digitalcapital.cc!

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

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DigitalCapital is yet another offshore broker that is best avoided – and here is why:

DigitalCapital regulation and safety of funds

DigitalCapital is not a regulated broker – the company does not even mention where it operates from. When dealing with DigitalCapital, you are dealing with what is essentially a completely anonymous entity – how can you have any idea if DigitalCapital is a scam or not if you do not even know where the broker is ran from?

Legitimate companies would never allow this – they operate with utmost transparency and are licensed by a responsible regulator. The specific policies of the regulator then outline the protections for your funds you enjoy – for example, traders with UK-licensed companies have access to a Negative Balance Protection and guarantee funds that pay out up to 85 000 pounds per affected client in the case of broker insolvency.

As you can see, the right move is always sticking with legitimate brokers!

DigitalCapital trading software

DigitalCapital provides access to an extremely basic web trading platform – it lacks most of the features of industry standard Metatrader 5, for example automated trading. Here is what the platform looks like:

The trading conditions on the platform itself are pretty bad too – DigitalCapital has spreads within the 1 pip range for FX majors like the EURUSD, but the leverage the broker offers is simply too much – it goes all the way up to 1:500. Most regulatory bodies out there do not allow retail traders to access amounts higher than 1:30-50 – and this means that the majority of brokers that have such obscene leverage amounts available to just about anyone are not licensed. Indeed, they are brokers like DigitalCapital, which are just looking to attract more clients with zero regards to the safety of funds of said clients!

DigitalCapital deposit and withdrawal methods and fees

DigitalCapital accepts deposits via credit cards and wire transfers. The latter are ineligible for any kind of chargeback – so if you have used one to deposit, you would have to contend with DigitalCapital’s absurd withdrawal fees. Here is what they look like:

Not only will you be charged at least $35 to get your withdrawal processed, but you would also need to pay an additional 10% on top of that if you have not executed an impossible 200 times turnover. This is in no way proportionate or fair – and it is also not the only insultingly high fee DigitalCapital charges:

This is DigitalCapital’s fee on inactive account – and while legitimate brokers also charge that kind of fee sometimes, it is never as high with them!

But what the worst thing about DigitalCapital’s Terms and Conditions is can be seen below – the broker’s Non-Deposited Funds clause:

It states that profits made by trading with the bonuses it issues are not eligible for a withdrawal – but there is simply no way to know what money was made using what funds! These clauses always lead to the broker flat out denying any withdrawal requests – and keeping all profits for itself!

Also, the ability to withdraw the bonuses offered by DigitalCapital, provided you execute another ridiculous turnover, is completely illusory!

How does the scam work?

DigitalCapital is undeniably running a scam – and what’s more, we know exactly what kind – here is how the scheme the broker runs unfolds:

First off, someone stumbles upon the scammers’ website, and is prompted to make an account. This requires them to leave a phone number in the process, which the scammers then use to start calling around the clock to demand deposits. More and more money is taken from the victim, until they are either bled dry or realize what’s going on – at which point, the scammers move on to new targets and never contact them again.

What to do when scammed?

If you have been scammed, you need to take the following steps to make sure you do not suffer further losses:

Reissue whatever forms of IDs and credit cards the scammers had access to. Also remove any remote control software they had you install on your PC.

Contact your bank and see if you can file a chargeback. If one is not possible, do not trust recovery agencies that demand an upfront payment for their services, as that is simply another scam.

Finally, consider leaving a comment in the section below and telling us of your own experience with DigitalCapital – that will help raise awareness of the scam, which is a great way to combat its spread!

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