Let’s begin this Concepty.co review by ensuring you that the broker is not regulated. Regardless of what they may try to convince you, the firm is simply not under any kind of financial supervision.
As a matter of fact, this is just the tip of the iceberg of all the red flags. Let’s go through this detailed overview together, so you’ll understand how to recover money if you were already scammed.
If there’s one word we would never use to describe Concepty.co, that’s reliable. The brokerage doesn’t disclose any information about its owner or headquarters. All we have is a Romanian phone number and support email.
Since Romania is an EU member state, it follows ESMA rules in terms of trading conditions. This means that the leverage limit for retail traders must be set at 1:30. And yet, this brokerage allows up to 1:500, showing us it cannot be in Europe.
Our search through the Romanian ASF yielded no results in terms of Concepty.co regulation. Just in case, we searched through the BaFin, FINMA, FMA, FCA, and other databases, and the outcome was the same. No authority approval of any kind, as’s the case with ICEPX.
All this being said, it’s time to see where this broker finds its victims and why you should avoid it.
Based on traffic research, Concepty.co trading scam is mainly active in two countries:
We urge you to share your story with us and help us complete this review.
Reviewing Concepty.co trading platform without paying the deposit first isn’t possible. The website claims it’s a “trading platform that perfectly blends your modern lifestyle.” Furthermore, they claim it’s accessible from all devices, including mobile phones, and that it allows modern or traditional trading. Based on that, we can conclude it’s some sort of WebTrader since links for download are not provided.
Whatever the case, we’re sure that no browser platform can come near third-party software like MT4, MT5, or cTrader. With millions of users and an immense reputation, these are known for the great availability of features and increased fund safety.
The website lists five asset classes, those being:
Without a platform, we cannot confirm any of the aforementioned.
Since most of the website is useless and repetitive, we could not find information about trading costs. You will have to pay spreads, swaps, and possibly other fees. However, we cannot tell you how much.
There are five Concepty.co account types for trading and four savings accounts. Let’s see the perks.
Trading Accounts:
Allegedly, each higher account allows you to progress as a trader and is suitable to your trading style. The minimum deposit is pretty standard, starting from $250 for the Student account.
Savings accounts:
The percentage is expressed for 6, 12, and 24-month savings, respectively. However, this company has no authorization to act as a financial institution. Therefore, you have no protection for your deposit or savings account.
The brokerage advertises offering its clients educational programs and various promotions. Education includes the following:
However, seminars are impossible as the company is based in an unknown location and surely won’t expose itself to traders. As per other tools, they’re listed, but without any links or proof you can actually access it.
As per promotions, there are bonuses for referring a friend, a welcome bonus, and a loyalty program. All of these should add more money to your trading account. Note that most Tier 1 regulators prohibit incentives since scam brokers exploit them to prevent customers from getting a payout.
You can find two available payment options on the broker site:
The minimum amount for Concepty.co withdrawal is $100 for cards and $250 for bank transfers. The payment method must match the deposit one up to the amount you invested. Allegedly, the transfer is immediate for cards, and it takes 3-5 days for bank wire.
However, looking at their banking policy and seeing it’s taken from another site and has missing information along with spelling mistakes, we’re not convinced that anything we read can be trusted.
If you find yourself scammed by Concepty.co broker, don’t hesitate to file a complaint. Global Fraud Protection has been in the business of assisting victims for years. We’ll be glad to hear your story and help you with the chargeback dispute.
The first step towards recovery is knowledge, which we offer! The process is time-limited, so be sure to contact us immediately. Leave your details, and we’ll book a free, non-obligatory consultation with our experts.
Concepty.co is not a legitimate trading brokerage. If you have been scammed by this or any other financial swindler, don’t hesitate to share your story with us.
Concepty.co requires a minimum of $250 from its customers.
No, Concepty.co doesn’t offer its clients a risk-free Demo account.
Concepty.co is not a legitimate trading brokerage. If you have been scammed by this or any other financial swindler, don’t hesitate to share your story with us.
Concepty.co requires a minimum of $250 from its customers.
No, Concepty.co doesn’t offer its clients a risk-free Demo account.
The post Concepty.co Review: The Concept of a Trading Fraud appeared first on Global Fraud Protection.
