Beware! Redpine Capital Invest 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.
Redpine Capital Invest is just another shady broker trying to convince you that they are thoroughly regulated by using someone else’s licenses. In reality, this broker is as unreliable as they come and bears all the trademarks of a scam – lack of Terms and Conditions, handpicking of those allowed to complete the registration process and no information whatsoever about the company and the people behind the broker. Furthermore, a reputable authority has recently issued a warning on the Redpine Capital Invest. This broker gives you virtually no reason to trust them – do the smart thing and just don’t.
Redpine Capital Invest REGULATION AND SAFETY OF FUNDS
Redpine Capital Invest claims to be regulated by CySEC, the FCA, and the IFSC of Belize while also having an office in Switzerland. However, when we checked the registers of the FCA and the IFSC, we got zero matches for the broker’s name and license numbers – which means they just made up a string of numbers and presented it as a license number. Matters got worse, when we checked the CySEC register – it turned out that a broker called Redpine Capital Limited with that license number and address does exist – but under a different domain and a different phone number and email.
This means that Redpine Capital Invest is a clone of a broker that is actually regulated and is using their license. Lying about regulations is probably the worst offense in the trading world – because those licenses are your only guarantee that your broker is legitimate and actually answering to a financial authority. Working with a licensed broker means that you will always be treated in accordance with the laws and that will be protected in case of certain unfortunate events.
An additional red flag is a warning issued by the Swizz financial regulator, FINMA, on the broker. The authority states that Redpine Capital Invest is not officially registered in Switzerland and therefore cannot be legally offering services.
The situation in Switzerland is quite complicated – to be able to call themselves a Swizz broker, a company has to have a literal banking license. Swiss brokers have to maintain a minimum capital of 20 000 000 Swiss Francs – an enormous amount compared to the €730 000 minimum capital demanded by the UK and the EU – and participate in compensation schemes which ensure clients up to 100 000 Swiss Francs in case of the broker’s insolvency. Such schemes exist all over Europe – clients of UK brokers would receive up to £85 000 in case their broker goes bankrupt, and those of EU ones – €20 000.
Choosing a broker that is actually licensed is vital – those in the UK and the EU are generally a great option. In addition to the protections we already mentioned, clients can count on some additional safety nets – such as negative balance protection – your losses cannot exceed whatever funds you have in your account. Client deposits must be kept in segregated accounts managed by third parties – so you can be sure your broker would not be able to use your money for their own financial operations and could grant faster withdrawals.
Dealing with scammers like Redpine Capital Invest who would lie about being regulated without blinking an eye is an awful idea – such people will rob you the first chance they get.
Redpine Capital Invest TRADING SOFTWARE
Redpine Capital Invest is supposed to offer an innovative, state-of-the-art web platform called R. C. I. – M Platform. However, when we tried to register an account to find out what makes this platform so amazing, we had to fill a contact form and request an account. This is quite unusual as most legitimate brokers would let you try their services in a demo account that only takes a few minutes to open. It is obvious that this broker is trying to pick victims themselves – this way, they can remain undetected longer and avoid suspicion. Once you have provided the scammers with your contact details, they would not leave you alone before you deposit.
As we mentioned, opening a demo account with a legitimate broker is extremely easy. Such brokers usually offer actual state-of-the-art trading platforms such as MetaTrader 4 and MetaTrader 5. Both versions of the renowned MT software come packed with advanced charting tools and customizable indicators as well as features like Expert Advisors, opportunities for developing your own trading bots and indicators with the software’s coding languages, opportunities for purchasing VPSs, a market full of trading apps, and much more.
Redpine Capital Invest TRADING CONDITIONS
Not only were we not able to figure out what the broker offers by opening an account, but we also were not able to learn anything on the matter from their website either. Redpine Capital Invest did not mention anything about the minimum deposit required to open an account, or about spread and leverage – absolutely no certain facts and figures. But as the broker is obviously a complete scam, we would not invest money with them – no matter how attractive their offer is. Better look up legitimate brokers who offer affordable trading.
Redpine Capital Invest DEPOSIT/WITHDRAWAL METHODS AND FEES
Without an account, we could not establish what payment methods Redpine Capital Invest accepts. They have not provided Terms and Conditions either – so we are in the dark about any non-trading fees, too. A huge miss on the broker’s part, one that no legitimate broker would allow.
HOW DOES THE SCAM WORK?
This scam and those like it are rarely very imaginative – they usually happen in a similar manner which is why it is important to learn how to detect them.
The scam starts with something as innocent as an ad on the Internet – a broker promises you never-before-seen conditions and insane returns of investment – the only thing you have to do is deposit a certain sum. You have heard stories of people making huge profits while trading or investing so you decide to be one of them and open an account with the scammers – providing them with your phone number and email in the process.
After that, they would not leave you alone before you transfer a little deposit. Some of them will disappear right there and then but most scammers are greedy – they will do whatever it takes to make you deposit more and more money, including manipulating platforms and making it seem like you are turning a huge profit.
The problems will start once you try to withdraw – your broker will deny withdrawals under different pretexts including additional taxes or clauses in the Terms and Conditions. Sooner or later, you will figure out something is wrong – but the scammers will be long gone by that time.
WHAT TO DO WHEN SCAMMED?
Be prepared that you might never see your money again – although there are still things you could and should do.
Change any passwords and banking details you have provided the scammers with to avoid further frauds – that includes cases when you have provided them with remote access to your computer. If you have deposited with Visa or MasterCard, that is great news – their policies allow you to ask for chargeback within 540 days. Don’t trust any so-called “recovery agents” that offer to retrieve your money for a fee – this is just another type of scam targeting desperate scam victims. Make sure to notify the financial authorities in your country and try to spread the word about such scams – the more people know about them, the less such blatant robberies will happen. Even something as simple as a 1-star Google review could save dozens of people from losing their money.