Beware! Storm Age Capital is an offshore broker! Your investment may be at risk.

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Storm Age Capital represents a very unconvincing attempt to portray a fraudulent scheme as a legitimate forex and CFD broker. This website provides neither the information nor the functionality you would expect from a genuine financial services provider. Let’s look in detail at the reasons why the Storm Age Capital could not be anything but a sham.

STORM AGE CAPITAL REGULATION AND SAFETY OF FUNDS

Legitimate financial services providers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

Storm Age Capital claims that the website is owned and operated by a company named Storm Age Capital Financial Pty Ltd. But nowhere is it stated where this company is supposed to be based and regulated. The website lacks an address, phone number or even email. No licence number or responsible regulator is identified.

The terms and conditions are only available through the account registration form. However, the text also does not mention the name of any legal entity or applicable jurisdiction. This renders this document legally null and void.

A general internet search shows that there is a company by that name registered in Australia. But the registries in that country do not provide information on authorised domains – a gap that fraudsters often exploit. But it is clear that if the Storm Age Capital website were indeed associated with a legitimate company, it would have the attributes listed above, especially proper legal documentation.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the  Commodity Futures Trading Commission (CFTC) in US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

STORM AGE CAPITAL TRADING SOFTWARE

After the regulatory status, the most important information about a forex broker is what software it offers to its clients. The Storm Age Capital website does not even mention a trading platform.

After registering an account, it becomes clear that Storm Age Capital has no such platform at all. Storm Age Capital does not provide any trading functionality, which means that it relies on scamming people who have no experience and knowledge about financial markets.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

STORM AGE CAPITAL TRADING CONDITIONS

Given the lack of regulatory authorisation and software, it wouldn’t matter if Storm Age Capital was promising the best trading terms in the industry. But the website actually provides absolutely no information about the terms of the alleged trade.

True forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc.

Most licensed forex brokers allow you to become their client and start trading for a very low minimum deposit – in some cases as low as 5-10 USD.

STORM AGE CAPITAL DEPOSIT/WITHDRAW METHODS AND FEES

The only payment method accepted by the Storm Age Capital is cryptocurrencies.

This is completely typical of financial scammers. They prefer cryptocurrency transactions because it provides them with a degree of anonymity, and more importantly, does not give the defrauded the ability to request a refund or chargeback.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Neteller or Sofort.

HOW DOES THE SCAM WORK

Many people have a desire to invest in the financial markets but lack the necessary knowledge and experience. This makes them a potential victim of the many internet scammers posing as brokers and investment intermediaries. These types of scams have exploded alongside the cryptocurrency boom.

If you trust such a website and give them your personal information, you will be contacted by experienced scammers who will entice you with promises of easy profits. The scammers usually offer to take over all aspects of investing for you, sometimes even prompting you to install remote access software on your personal computer. After investing an initial low amount, they will convince you that you are already making incredible profits and urge you to invest more.

But you will never get the promised profits, nor will you be able to get your money back. If you want to withdraw funds from your account, you will find that you have suddenly lost everything in the market, or that you have to meet impossibly high traded volume requirements, or that you have to pay huge fees. It is also possible that fraudsters simply disappear because they hide behind fake names and shell companies in offshore areas that are not subject to any control and regulation.

WHAT TO DO WHEN SCAMMED

One of the few options to get at least some of your money back in such a situation is to ask for a chargeback. But this is only possible if you have used a credit or debit card for the transaction. Scammers typically use cryptocurrencies or dubious e-wallets that make it impossible to get your money back.

Under no circumstances should you trust people and websites that promise to magically refund your lost money for an upfront fee. This is also a well established scam. You may even fall victim to the same scammers again.

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