RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Inceptial is a legit broker that is regulated in a very ambiguous nation, not to mention that certain practices by the broker are downright suspicious. For now, we are undecisive, as many of you are perhaps, and so we present the following review to clear some things out.
We did not create an account, but this should not pose an issue, since, yes, Inceptial is regulated and all the details on the website are accurate. With regulated brokers, it’s very difficult to open a live account since they ask all sorts of scrutinizing questions that only serious investors can answer.
The available financial instruments for trade are forex currency pairs, commodities, futures, indexes, shares, and cryptocurrencies. The leverage is capped at 1:100, and 1:500 for Pro traders. The EUR/USD sread is 2.5 pips, for both the Standard and Silver accounts, making these two accounts obsolete. The next best thing is the Gold account with a 1.8 pips spread for the EUR/USD pair.
The website of the broker comes in a surprising amount of languages: English, Chinese, Arabic, Russian, Portuguese, Japanese, Thai, Malaysian, Indonesia, Japanese, Dutch, Spanish, Polish, Korean, Hindi, and Vietnamese.
INCEPTIAL REGULATION AND SAFETY OF FUNDS
The parent firm of the company goes under the name of Growth Capital LLC, and it is regulated by the National Bank of Belarus. There is proof of this, and therefore, we can not question the legitimacy of the license.
The broker mentions another company, Mount Nico Corp Ltd, which is only mentioned in the footer. We are told that Mount Nico Corp Ltd and Growth Capital LLC are belonging to the same group of companies. Now here is where things get slightly complicated since Mount Nico Corp Ltd is licensed by CySEC, yet on the official confirmation page on the regulator’s site there is no mention of either Growth Capital LLC or Inceptial. And we don’t think there is any tie between the two entities, Either there was a mixup or a huge misunderstanding, or there is something unofficial going on that we cannot trace online. We did some research, as much as online data allowed us to, and we came to the conclusion that, maybe, in the recent past Inceptial was somehow affiliated with Mount Nico Corp Ltd, but not anymore, due to an unknown cause.
And moreover, seeing that the maximum leverage is 1:100 (1:500 for pro traders), we can safely say that the broker has no ties to CySEC, where all brokers are limited to a 1:30 leverage cap.
What we know to be true, though, is that Inceptial is regulated in Belarus, making this broker a legit entity, officially.
However, due to recent political turmoil and instability, Belarus has been red-flagged by many democratic nations as non-liberal and even autocratic. These labels, and the realities of the status quo, all lead us to believe that investors can do better than Inceptial, even if the broker is fully regulated.
INCEPTIAL TRADING SOFTWARE
The broker offers the full might of the MT4, which is perhaps the best trading software in existence today. We say perhaps because the MT4 is slowly being surpassed by the MT5. However, the former is still superb and better than most, if not all other trading softwares.
With Inceptial, the MT4 is available as a desktop trader as well as a web trader.
INCEPTIAL REGULATION AND SAFETY OF FUNDS
The minimum deposit requirement is $250, while the payment methods are credit cards, debit cards, Skrill, and through bank transfer.
Withdrawals are processed within 5 working days. There is a 3.5% fee on all card withdrawals, while a $30 wire transfer fee is applied as well. Skrill charges 2%.
Inceptial is not the best broker we have seen, but it definitely is not the worst either. We believe that we have given users enough details so that they can decide for themselves. If it was our money on the table, we would look elsewhere.
Vineet Sabharwal
I had worst experience with Inceptial. The Account Manager assigned to me seemed to open positions for me without any analysis. He tricked me into more and more investments and even use my credit card to have more balance so that he could open BRENT and GOLD positions with more exposure. I told him in the beginning that I have less risk appetite and not much money. I did make some profit in some positions. But then he made me go long with Gold and brent at very high rate, not guiding me to close it at loss. On top of it, he seemed to have no knowledge how Swap is calculated, giving me false assurances that I will be SWAP free after doing more investment and converting my membership to Gold. I had to take loan and borrow money to hold onto my Gold position and was also charged more than $1000 swap for it (which he kept on saying that will be reduced but that never happened). Eventually, Gold fell so much that the position was auto closed with more than $16000 loss (which include more than $1000 swap). It was almost all my savings gone. Now, I had only around $3000 balance left. Next day he made me open a position in index JP225pro and two more in currencies against USD(all long). It seemed he didn’t even read analysis before making me open those. At night I closed GBPUSD at $250 loss since it was expected to fall further and I wanted to have enough margin. Kept others including JP225pro open as suggested by him and I also was sure that I have comfortable margin for open positions. Now while I was sleeping a swap of more than $3000 (way more than my balance) was applied to JP225pro and hence all my positions were auto closed. All my money (savings) gone in thin air in a second. Next day on phone, he said you knew swap is applied, etc. I said, why would I open such a position or keep it open for $3000 swap to be applied if I knew. This is just insane and pure cheating! Now they are not even responding to my emails to support and just giving me automated replies. They have robbed me of all my savings and left me in debt. This is what my experience has been with them. Please keep this in mind if you deal with them.
xxxxxxxxxxx
i also has the same kind of experience,they are simply cheaters, accessing my cards also.
they are liers ,please save all others from this kind of trap.
vikram Mandoth
this is the same way i was approached….luckily i read reviews of many many people like us and didnt get involved in any further trading……will close my account immediately.
ZAM
I had the same bad experience with them, they called me and put pressure on me to deposit 250$ with them, after that they wanted more money to be deposited but I refused and I only deposited 250$, but now, it’s only 75$ dollar left on their account. I never withdraw any cent out of it but is getting less day by day. They are liars.
vikram Mandoth
Today i talked to my So called Financial Advisor SYED NA….and requested to close my account..
To my utter shock he threatened me that neither can I close my account nor would i get my funds back…i Can do whatever i want….bloody ass-h.le….calls from a local karnataka number and tells me that he is calling from Turkey……THIS IS A BIG BIG SCAM BREWING……
Prakash
I also have same kind of experience.
Managers brings to such position in which we hve to necessarily invest otherwise we will loose our principal amount too.
Arran
I’m unhappy how last week I got a call from Can Eren (not sure if it’s even his real name) – who kept insisting that I pay by card and kept giving me instructions on how to pay etc. – this, he says, was to verify my identity.
His approach is not acceptable. Why not verify me 1st with my documents, then I pay? I told him I was unsure and didn’t know how to do this etc.
He was very persistent, and I paid my deposit. Then I had 3-4 phones from Inceptial wanting me to verify my docs etc., and then the account manager would call me.
I changed my mind within hours and decided to ask for a refund and close my account.
Since then… I had more calls from inception wanting me to trade. But refused and told them I wanted to close the account. They were rude and didn’t care. And offer no support on how I can get my money back.
I have since then emailed the support team, and no response from them (apart from the standard template email saying some will be in touch).
I tried calling the numbers they’ve called me on and get no response.
This company is a scam. They are rude and very unhelpful.
Mohd
i also has the same kind of experience,they are simply cheaters, accessing my cards also.
they are liers ,please save all others from this kind of trap.
Umair
Very bad support and I am unable to withdraw my funds. I send them a lot of emails about the withdrawal but to this day i receive no withdrawal.
It is very easy to deposit money with them but if you want to take out they will start delaying.
Tripti
Ditto experience. They are not validating my payment details. Its been more than a month I am trying to get my own deposit back and to this day I have not received funds. It says there are no available payment methods. If only they would only verify the payment details. Now I have a doubt that they would refund my $600 deposits.
jerry
beware of inceptial they are international scammers and syndicate!!
jerry
i invested 250 dollars and when they get it from my bank account, they get it in a minute only. now i want it back. its already 9 days since im withdrawing my money and until now they did not return my money. they always messaging before from time to time they are calling when they need my money. beware of inceptial and profit view!!
Teonne
They’re a fucking thief you better believe ok
Veena
I have same experience…they are cheaters ..pls do dont fall for them
Angelito
I have a bad experience also with this inceptial..right now I have a small remaining balance in my account and I need to withdraw it unfortunatelt I do not know how to do it..Please help me guys..thank you for any leads
Nilesh Panchal
I wish to rate below 1 star but it is not available. Be aware of this company in UK. It’s my humble request for all indians, please do not open trading account with this company.
First they will call you after sending the request then they will insist you to deposit $250 in wallet. Next day they will connect you to your so called relationship manager. He will make you feel that he is taking care of everything. He will validate the proofs & open your account. But he will not validate your bank account through which you can withdraw your money.
Then he will show you how you can make the profits through this OTC trading.
Next he will tell you to deposit $2000 to start the trading. Please don’t do this otherwise you will loose your money.
I made this mistake & i lost my money.
Please don’t get involved with this company. Focus on our indian market which will boom in next 10 years.
So invest in India. India is great
vikram Mandoth
same experience………luckily didnt fall prey and got stuck with US$ 250 only……am writing about this scam to the Ministry of Finance, FEMA, ED and other agencies….have some good connects there…. will see to that these company doesnt operate in India.
Utpal
The company is suspicious. I was approached on phone immediately when I accidentally clicked their web site.They seemed to be cheater as someone called first from a international [email protected] then knowing that I haven’t paid some one called from Bihar @09472398058 asking me what happened to my initial deposit . They lured me to invest in crypto currency and insisted to pay $250 to open an account before uploading details of my profile.My sixth sense alerted me to see details of [email protected] and review and instantly smelled the rat . So never do any transaction with them lest you should be cheated.
Durjoy
I had opened an account account with Inceptial, but I withdrew my funds. I just got a call from one of the Inceptial’s account managers. I clearly told him, that I am not interested in trading anymore. At the end of call, he used the words like “Fuck You”, “Go to Hell”. And all the while, I was being polite. Is this what Inceptial all about?
Arun
I also faced same problem they have taken my 500usd from my credit card and in one day they have lossed all money and insist for invest more money.My 19usd left with him but not allowed to withdrwal.All cheaters are sitting their.Its a scam.
BHAVNA
Theinvestor managers openes the trades,which leads to hetfty swap fees,
Which is their earnings.I traded under 2managers named: Nehnoor Irfan n P.Sayed .N made loss of usd32000/- by teir misguidance,as I have no knowledge about the trades.
All the positive repots posted about comapny are fake n posted by comapany itself as paid customer reveiw.As they are not refunding me usd16000.As they promised me to return half swap fees as bonus.
Dont waste your hard earned money with invesinvestig with inceptiial.
Ritesh Mishra
Inceptial is a total scammmmm………
They are giving ads of AI trading bots but there is nothing automatic about it. Jono armstrong is the one who is giving the you tube ads on this saying it’s AI. Please do not get fooled.
The account manager which was irfan in my case called me every day to tell me to open trades. He gave me the trades without stop loss. And even after i told him that i am done for the day, he would ask me multiple time with some bullshit reasons to take trade which ultimately resulted in blown account.
And the worst part is, he does not do any type of analysis (technical or fundamental), he made me open the trade on speculation or according to “investing.com”.
I will say to stay far far away from this……………………………….
Errol Quinn
Public beware of Inceptial they have the most horrible and dubious practices, out ofthis world, it sucks.
Errol Quinn
TO: NATIONAL BANK OF REPUBLIC OF BELARUS
GROWTH CAPITAL LLC
MT. NICO CORP. LTD.
CYPRUS-SEC
It is cited in the web that “INCEPTIAL” is either regulated or affiliated with your institution.
“INCEPTIAL” practices being ambiguous, suspicious and down right outside of accepted norms, may an inquiry/investigation be launched against “INCEPTIAL’, to protect the general public from harms/damages this “INCEPTIAL’ has been causing. The seems like a “SCAMMING SYDICATE”.
Looking forward to your immediate action.
Errol_Quinn
TO” NATIONAL BANK OF REPUBLIC OF BELARUS
GROWTH CAPITAL LLC
MT. NICO CORP. LTD.
CYPRUS-SEC
It is cited in the web that “INCEPTIAL” is either regulated or affiliated with your institution.
“INCEPTIAL” practices are ambiguous, suspicious and down right out of accepted norms.
May an inquisition/investigation be launched against “INCEPTIAL” to protect the puclic from undue financial hamrs/losses, due “iNCEPTIAL” highly “DUBIOUS” practices.
Bondoc
Inceptial is indeed a big scammer that everyone should avoid. They took away my hard earned money.
Olumide
The same thing happened to me and they kept putting me under pressure and exposed me so much that i lost all my money. The persons name Wassim and Edy are fraudsters they kept pressurizing me to deposit not to loose me fund and eventually all gone and they both disappeared.
I lost more than 51000 USD to them and now i am in so much debt.
Errol Quinn
Beware of inceptial trading platform.
They are cheaters.
Website operated by Growth capital, llc and indicated in the web that it is regulated by National bank republic of Belarus.
If the unscrupulous practices committed and mounting complaints through the web against Inceptial, are not look into by National bank of republic of Belarus (nbrb) or aware but has not taken any step or action towards Inceptial, it will mean toleration/condonation of the dubious practices and some what may appear that (nbrb) in cohorts.
It is a “Big big big shame” not only to national bank republic of Belarus but also to the “Republic of Belarus” the country they represents. Errol