Beware! Supreme-capital.co.uk is an offshore broker! Your investment may be at risk.
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Supreme-capital.co.uk is an ordinary offshore broker waving the typical red flags. Long story short, the brokerage is not regulated, its trading software is substandard, leverage is too high, and the legal documents are stuffed with adverse clauses. Supreme-capital.co.uk is a suspected scam you should avoid, and we’ll explain why we claim so in the following review.
Supreme-capital.co.uk Regulation And Safety Of Funds
Supreme-capital.co.uk is a brand of Supreme Capital LTD – apparently, an offshore company registered in St. Vincent and the Grenadines. That’s bad news as SVG brokers are NOT REGULATED and are usually suspected scams – Supreme-capital.co.uk is not an exception. St. Vincent and the Grenadines is an offshore jurisdiction that does not license or control Forex broker, which ultimately means that Supreme-capital.co.uk is a brand of a totally anonymous company. The lack of regulation is a significant issue, but the worst thing of all is that once you deposit with Supreme-capital.co.uk, your money will literally disappear somewhere offshore. When this happens, you’ll have almost no chance of recovering your money if things go wrong! Supreme-capital.co.uk is risky, and you should avoid it!
Instead, you can check our lists with Forex brokers and pick a high-rated one if you are still interested in trading! For example, both CySEC (Cyprus) licensed brokers and FCA (Britain) brokers are proven safe as both authorities force strict regulations to guarantee safety for clients’ funds. The compulsory rules include client account segregation, risk-reducing measures like leverage restrictions and negative balance protection, and increased capital requirements to license a broker (€730 000). Most importantly, though, both authorities maintain deposit insurance funds – clients of CySEC brokers can claim up to €20 000 in compensation, while the UK protections are even higher at £85 000 per person! It goes without saying that if you trade with unregulated brokers, you’ll remain unprotected and exposed to fraud risks!
Supreme-capital.co.uk Trading Software
Supreme-capital.co.uk claims that it has an award-winning platform, but that’s simply not true – the broker is exaggerating and apparently creates a false sense of security and expectation. That’s a red flag, nonetheless! That said, Supreme-capital.co.uk’s Webtrader is anything but award-winning. In truth, it’s a simple piece of software that cannot provide any advantages over the leaders MetaTrader4 and MetaTrader5.
We mentioned both platforms for a reason. They have become a synonym of Forex retail trading and are known as stable, flexible and packed with numerous advanced features such as automated trading and analytical tools, complex indicators, reliable charting tools, and even a marketplace with thousands of trading apps. Supreme-capital.co.uk’s Webtrader is nowhere near MT4 and MT5 in terms of capability, so we can’t recommend the broker to anyone, the rest of the problems aside!
Supreme-capital.co.uk Trading Conditions
Supreme-capital.co.uk’s trading conditions are not good. The asset classes available for trading are standard – Forex, Stocks, Crypto, Indices and Commodities. However, everything else is substandard and potentially dangerous; let us explain.
The trading costs are unreasonably high – the EUR/USD spread is 3 pips ($30 per lot traded), a rate that’s at least three times higher than the industry standard of 1 pip ($10 per lot).
The trading risks are also high – leverage can reach 1:400, a ratio with excellent profit potential, but it’s hazardous. The good news is that the standard level is 1:33 and can be increased or reduced upon preference, which is probably the only positive feature of Supreme-capital.co.uk!
Supreme-capital.co.uk Deposit/Withdraw Methods And Fees
The minimum deposit is $250 – a standard requirement for fishy offshore brokers. The demand is not too high, but many regulated brokers now open accounts for as little as $5, so dealing with Supreme-capital.co.uk is a waste of time anyway!
The funding methods are allegedly Credit/Debit cards, Wire Transfers, Cryptocurrencies, Skrill, Neteller, PayPal, Sofort and Qiwi, but that’s not actually true. When we tested the funding system, only Credit/Debit cards were available for direct deposits, which doesn’t really mean that others are excluded. However, bear in mind that wallets like Skrill and Neteller pay utmost attention and rarely serve suspicious offshore brokers like Supreme-capital.co.uk. What we mean to say is that Supreme-capital.co.uk apparently lies by claiming to accept a wide array of deposit methods! Beware!
The information about withdrawals is scarce as nothing is specified in detail. There is no minimum requirement or fees designated, but Supreme-capital.co.uk claims that withdrawals are charged, with no further information available.
However, there are specific details about other fees, but the charges imposed are totally unacceptable – $99 every two months for dormant accounts! That’s highly unfair, and it’s roughly ten times more than the industry standard of 5 to 10 dollars per month at most! Supreme-capital.co.uk is expensive and unfair! That’s most likely a scam!
How Does The Scam Work
Forex scams are different from one another, but in most cases, the fraudulent scheme is practically carried out in the same way. Scam brokers are always unregulated and usually registered somewhere offshore, which helps scammers remain anonymous and untraceable. If you open an account with such an entity, you should expect endless phone calls. Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a treacherous sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.
In the worst-case scenario, you’ll deposit, and scammers will persuade you to trade instead of you. You’ll soon see magnificent profits generated – false, of course, and you’ll get excited, asking to take your money back. As you probably guess, they won’t let you do so and will try to get another deposit from you, promising that much more lucrative gains are waiting. Or, they can ask for a false tax, saying that withdrawals are only possible if you cover the charge in advance. If you pay, you’ll increase the amount stolen from you, but if you keep asking for your money, you’ll soon realise it’s a scam!
What To Do If Scammed
You should first inform the authorities – call the police and contact your local regulators and other government bodies dealing with crime and fraud. Also, deactivate your cards ASAP and call your bank to inform them about what happened – they can provide essential information and help you reduce further financial damage.
If you deposited cryptocurrencies, there is not much you can do, but if you used your credit/debit cards, you could file a chargeback, hoping that all or some of the money invested can be retrieved. However, you shouldn’t go blindly looking to recover the loss because many fraudulent chargeback agencies are waiting to double-scam victims of fraud – be cautious about it!
And lastly, consider sharing your experience to help protect others and provide further information about how scams work!
