CTA Capitals, a.k.a. Crypto Trading Association, is an offshore scheme that vanished after being banned all across the globe. It’s no wonder and not the first time we see it. However, those who had invested in the scam were left without help.
Our in-depth CTA Capitals review will show you all about the firm, including steps to take if the brokerage steals your cash.
CTA Capitals is a brand of Mia Group LLC registered in Saint Vincent and the Grenadines. Whenever we see this offshore island, we suspect fraud. Why, you ask? Simply because the country doesn’t regulate the Forex market.
Furthermore, the broker is hoaxing EU residents without complying with ESMA and MiFID. According to the EU watchdog, brokers must limit leverage to 1:30 for retail traders due to high FX asset volatility. CTA Capitals offers 1:100 to 1:400, directly violating the regulations of the countries it provides services to.
With this in mind, we invite you to share any details you may have about the CTA Capitals trading scam.
CTA Capitals is a bogus offshore broker. The company has been banned in Canada, Germany, and Belgium for scam activities.
In December, the Ontario Securities Commission raised its own concerns regarding the firm. According to their warning, Crypto Trading Association is not registered to engage in the business of trading in securities.
Finally, in March 2022, the authority of British Columbia issued an alert regarding the CTA Capitals fraud. They said the broker offers FX and CFD trading without BCSC approval. This warning found its place on the CONSOB list as well.
As you can tell, many regulators issued warnings, which led to the broker’s disappearance. Currently, the only way for their customers to get their money back is through legal aid.
We’d like to give you an overview of the CTA Capitals trading platform, but it’s impossible. The broker claims to offer a proprietary app and WebTrader.
However, there are no links for a browser-based platform, while downloading the app is an issue. Namely, our PC warned us about a potential virus within the app, so we gave up on installing it. We’re unwilling to compromise our devices for fraudulent broker apps.
Since we couldn’t access the software, we cannot say anything about its functionalities. Yet, we can advise you to choose a broker with third-party platforms such as MT4, MT5, or cTrader on offer. Each of these has millions of users and a high level of fund protection.
This broker offers Forex and CFD trading in the following instruments:
Since there’s no platform access, we cannot say anything about trading fees or spreads. However, knowing that the broker offers unregulated leverage, we can only imagine how much they will charge for spreads and swaps.
You cannot test the CTA Capitals Demo account, but only the Live ones. To activate the account, you need to deposit a minimum of $250. It’s a standard sum for scam brokers aiming to extort more and more until you have nothing left.
On the other hand, legitimate brokers usually offer Micro accounts starting at as low as $10. In addition, they provide risk-free Demos for their customers to test the system. Therefore, you have all the reasons to invest in a licensed firm over an offshore scheme.
The CTA Capitals withdrawal amount is $50 minimum. You can only use debit/credit cards, according to the website, which is fantastic. In such cases, you can request a chargeback within up to 540 days after the transaction occurred.
Note that this brokerage does everything in its power to prevent payouts. They offer bonuses with malicious clauses. According to T&C, clients cannot request money back before reaching a minimum trading volume of the bonus amount divided by four in lots.
Currently, all domains are inactive, meaning you can only rely on legal assistance in the refund battle.
If you’re one of the unlucky victims of the CTA Capitals scam, let us know. Global Fraud Protection has dedicated chargeback specialists working on cases like this.
We’ve made it our personal mission to help victims of financial swindlers get their hard-earned money back. Help is one click away! Don’t hesitate to share your story during a free consultation, and we’ll evaluate the case thoroughly.
CTA Capitals is not a legit broker but an offshore fraud. If you have already invested money with the scheme site, we might be able to help you with a refund.
Considering the number of regulatory warnings, your funds are definitely not safe with CTA Capitals.
No, CTA Capitals doesn’t offer a Demo account, only Live ones.
CTA Capitals is not a legit broker but an offshore fraud. If you have already invested money with the scheme site, we might be able to help you with a refund.
Considering the number of regulatory warnings, your funds are definitely not safe with CTA Capitals.
No, CTA Capitals doesn’t offer a Demo account, only Live ones.
The post CTA Capitals Review 2023 – How Was the Scam Perpetrated? appeared first on Global Fraud Protection.
