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

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CoreGeneric Capital is way too simple for comfort, and the results showcase how bad this firm has structured itself. The structural integrity is dwindling, attributed to the unresolved question of what CoreGeneric Capita actually is. We kept asking ourselves this question, which clouded our journey. And it turned out that the search was completely unnecessary because CoreGeneric Capita is ultimately a scam and a complete sham!

We were not able to open an account without providing a referral number. This is very revealing. For one it tells us implicitly that only users previously contacted by the firm are allowed; usually it is those clients that agree to invest.

The limitations of the site plus the identity crisis underling the whole thing made it hard for us to grasp what CoreGeneric Capita really is. At one point we read that the firm advertises itself as an “International Funds Transfer for the Exporter: Delivering Foreign Currency Direct to Your Receiving Accounts”. This is either a unnecessary way of defining FX trading, or a crafty way to sound smart to unsuspecting clients.

But it also offers “better” FX rates, hedging strategies, and an MT5. Of course, we had no access to any of these, but the point here is to try and figure out the nature of this firm.

But we don’t think if CoreGeneric Capital itself has figured out what its identity currently is. Is it an FX broker, or an FX broker offering more acute strategies and tools? Or is it an intermediary broker, as our first suspicions rose the question? It might be something completely different, but one thing we know for sure, and that’s that CoreGeneric Capital is illegitimate as you will see in the following section.

Furthermore, there we absolutely no trading details on the site anywhere. Thereofre, we really have no reason to believe that CoreGeneric CapitaL is a FX broker.

COREGENERIC CAPITAL REGULATION AND SAFETY OF FUNDS

The broker website opens with a view of London, but claims a Polish address. It’s an ironic twist for those of you that get it. But ironic speculations aside, the Polish address, if believed, means that this firm is also regulated in Poland. Consider for a moment that CoreGeneric Capital is a broker; then it should be holding a license form the local Polish Financial Supervision Authority (KNF). But all arrows point to this being completely untrue; not only is there no mention of this on the site, but the regulator himself has no information on one CoreGeneric Capital.

Moreover, there are no legal documents, as all access points lead to a blank page. So, not only is CoreGeneric Capital unlicensed but also all users are in a bigger danger than we thought. Without legal docs there is nothing in terms of safety. This firm is a risk to all!

It would be a big shame to lose all that money to scammers. By registering and investing in an unlicensed broker, you are indirectly throwing your money away for a completely futile and illicit cause. There is no reason to do so. That is why we urge our readers to rely on EuropeanUKUS, or Australian brokers, or any licensed entity for that matter. Licensed entitles are covered by hundreds of requirements, many of them apply financial compensation schemes, and anti fraud practices. In other words, they are the exact opposite of what this broker and others like it stand for.

COREGENERIC CAPITAL TRADING SODFTWARE

We did not open the available MT5 because we did not trust it. The file probabyl contianed a virus, as our anti-virus systems lighted up the moment we started downloading it. This malware may lead to further loss!

And anyway, even if we did open the MT5 how could we have operated it without login credentials? It’s really a lose-lose situation.

COREGENERIC CAPITAL DEPOSIT/WITHDRAW METHODS AND FEES

There is absolutely no payment information anywhere on the website. Not that it was a surprise to us. Either way, we don’t know what clients are investing in, if they actually are, which they absolutely shouldn’t be be in the first place.

CoreGeneric Capital is a scam and a mystery to us. Best leave it alone because who knows the amount of damage it can cause.

HOW DOES THE SCAM WORK

Generally, the first step to being in a scam, whether a user is aware of it or not, is to bridge the crucial gap that exists between a user and a broker. With legit entities rarely does this go beyond the limits of formality, whereas with scammers they will try to behave as close friends, and will try to sell you as much as they possibly can.

It easy to fall prey to their sweet talk, because as financial instruments grow more complex, so do scammers, and there are surprisingly advanced swindle techniques that will leave you empty handed faster than you know. So make sure to think before you act, and to ask for professional guidance if necessary.

Contact usually begins at the online ads level, and expands to the telephone line relatively fast, depending on how good the scammer is and how susceptible he or she is to manipulations.

The ultimate goal is reached once a scammer successfully causes an initial deposit to be invested. Once this happens the user has become the victim, and from then on the fraudsters will try to retain the client for as long as possible, draining him/her along the way.

On average, it takes 2 to 3 deposits for a user to realize that something very unlawful is happening. By that point however, the broker will cut all communications with the user and will deny all withdrawal requests.

WHAT TO DO IF SCAMMED

The most common action to take is to file for a chargeback, but this happens only if the user has invested with a credit or debit card. That’s why you don’t get many investment frauds taking card payment nowadays. But the good news is that, if money was invested via a card, the chargeback period for MasterCard and VISA is 540 days.

Wire transfer deposits are harder to get back, and the only thing we recommend is contacting the bank to sort things out if possible. Oh, and make sure to change you bank account user name and password ASAP!

Crypto transactions are lost for good, unfortunately. As cryptocurrencies become more numerous and the systems underlining them more complex, scammer are taking full advantage of these aspects, and the end results are very lucrative. So, never trust unregulated brokers with crypto payments.

And then, we have to mention the other type of scammer, the recovery agents. These are either third party fraudsters or extensions of existing swindles, and will provide the seemingly impossible service of tracing your lost money. All they need is a fee for their effort, a sum of money that will be lost once paid.

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