Beware! Trust Capital 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.
Trust Capital is a typical unlicensed broker, down to its core. Nothing really matters with this broker, aside perhaps that it is a scam.
TRUST CAPITAL REGULATION AND SAFETY OF FUNDS
We tend to write these reviews in a constructive way, with each paragraph covering a different section of the broker. So, this section of the review divides the legal statements, so that we can discuss each one.
The first major sign that Trust Capital is not legitimate was the complete lack of legal documents. Consider that the broker has no legal responsibility towards the client, whihc trust the user into the perfect target. And on his side, the user is not protected by any legal nets or provisions, meaning that once the user registerers and deposits all the money is lost and his personal information will be misused.
Later, we find a classic statement by any scammer that the broker is applicable only to those users whose jurisdiction allows for the broker to used there. This is as vague as any scammer can get, and is actually a smart way to convert certain users to one’s scammer cause. Do not trust brokers who speak in such a manner.
Last but not least, the contact page reveals an address in Cyprus, placing this firm, allegedly, in the jurisdiction of CySEC, one of Europe’s top regulator, and a massive player in the global field. Of course, Trust Capital in not regulated by the Cypriot watchdog, and there is no reason to believe that Trust Capital is regulated by it, because it definitely isn’t.
Trust Capital is completely unlicensed and a risk to all!
Illegal and unregulated brokers spell trouble every single time! They have nothing to offer, unless you count heartache and frustration. These companies are created and run as elaborate scams (not all of them) and they are short-lived as a result of complaints and regulatory actions. But in between the creation of a scam and its downfall many users will lose their money with very little chance of a refund. This money will be redirected to various offshore and untraceable accounts and will serve the scammers to fund their own lavish lifestyles and future scammer projects.
So, really there is no reason to invest or even interact with unlicensed brokers. If you want to experiences the real FX trade, then look no further than any European, UK, US, or Australian-based brokers. These are regulated and fair institutions that treat each customer with care and respect.
TRUST CAPITAL TRADING SOFTWARE
All in all, this web trader is nothing special, and we know that some users will think us mad. But here the main attraction is the way it looks; with visuals that seem to convey a deep and engaging experience, but in reality isn’t.
There’s very little you can do here, and that’s when the broker would be legitimate. With Trust Capital we do not recommend using it, making it even worse.
Better try and learn the MT4 and MT5, with legit brokers of course, because once you get the hang of these platforms you will be hooked.
TRUST CAPITAL TRADING CONDITIONS
We registered in seconds, and after that we came to the user area which turned out to be the web trade. Not only is the quick registration a sign that the broker is quick to start stealing money, but the web-trader-as-user-area deal is also a sign that the firm is unregulated.
The web trader reveals that the available assets are forex currency pairs, commodities, stocks, indices, and cryptocurrencies. The EUR/USD spread is 0.9 pips, while the leverage is capped at 1:200. These might seem like great trading conditions, but the broker is a scam.
A high leverage is very attractive, considering that the game changes completely the higher it gets. Here we have compiled some great brokers offering leverages higher than 1:100.
site; multiple accounts, contradictory info, no account onuser area
TRUST CAPITAL DEPOSIT/WITHDRAW METHODS AND FEES
The user area came with an unresponsive deposit section, while the withdrawal area reveals crypto based methods, but also bank transfer and cards. So, these methods are used for deposits.
The minimum deposit requirement is $5000. This is ridiculous, and quite expansive. Considering that the minimum deposits are starting to get more lower, such a high requirement is a sign of a close minded broker. Here we have compiled some great brokers offering low minimum deposits.
And that’s all the payment details we have. There are no fees details, which means that it actually may be a hidden side to the broker. Just remember not to invest in Trust Capital.
How does the scam work
For years now the scammer process has been, more or less, based on the same simple principle: that of solicitation. Of course, users can also stumble randomly on a scam but this happens very rarely.
Scammers rely mainly on exaggerated advertisement campaigns and phishing tactics, that is to say cold-calling techniques, to recruit their users. On the ads front, users are lured with very striking online ads about unbelievably lucrative opportunities for investments accompanied by imagery of luxury. The client is prompted to provide a contact email and a phone number.
The contact will be established in either case, and the user will be lied to and manipulated until he or she is lead to invest. If you fail to be succumbed to the broker’s sweet talk at some point the representative will stop calling you. But until then, you will be surprised as to the exhaustive repertoire of deceits and lies these scammer have. Essentially, they will try everything to convert you to their shady cause.
A users who has invested will be prompted to deposit at least one more time, but this time a larger sum with allegedly higher chances of hitting it big on the trade game. Obviously the illicit firm in question is making all these claims up; most of them don’t even have trading software!
The time will eventually come when the client will feel cheated, but by then it is usually too late. The broker will either cut all contact with the user, shut down its site, or simply stall the withdrawal request indefinitely.
What to do when scammed
The safest bet at getting your money back is to file for a charge back with your credit or debit card provider – the chargeback period for MasterCard and VISA is 540 days. However, this can only happen if you have invested via a card, or an e-wallet supporting card payments.
Bank transfers are way harder to trace, and the only hope you have is to call the bank itself and try to figure out a reimbursement strategy. But there is no guarantee that this will work. What we can advise if you fall into this state is to immediately change your bank account password and username.
Then there are the crypto transactions which are untraceable and therefore lost for good. So, whenever you see a crypto based payment method with an unregulated broker make sure to stay clear!
Last but not least, we have the recovery agents or agencies which are total scammer of their own. They promise a full refund in return of a one time payable fee, and no small one at that. As soon as this is paid they will disappear without a trace.