MTcapitals is one of those undefined and anonymous websites that offer shady brokerage services for a huge cost. Acting as if they’re really the world’s leader in Forex services providing, MTcapitals wants you to believe in numerous lies. From a variety of trading platforms, to outstanding trading conditions to seamless funding and withdrawals.
How wonderful all of that would be if only this was an acclaimed securities dealer, not another offshore sham. While the MTcapitals website mentions an address in Switzerland, other resources point at Aguila – a small Caribbean island. And that’s just a start. Ridiculous trading costs, no proprietary trading app or a functional terminal and ultra-expensive accounts is what follows.
MTcapitals displays every single trait of a textbook scam and our MTcapitals review breaks down and exposes every single one of them.
The story about MTcapitals is not as great as the website describes it. While the web presentation speaks about a magnificent company, successful in over 180 in Europe, Asia, Africa and America, our investigation shows something completely the opposite. Our MTcapitals presents solid proof of this firm being a fraud, it’s your choice who to believe.
Firstly, the anonymous company doesn’t reveal anything about its actual history, background, names and numbers. All we could work with is a Swiss phone number and address. That’s why we immediately checked the FINMA register, and to no one’s surprise, we found nothing about MTcapitals. But that is not where our search ended.
As only Tier 1 brokers are worth trusting, we went through more databases kept by the leading financial watchdogs – FCA, BaFin, CySEC, ASIC, IIROC. The only detail we found is the public warning that a Canadian regional authority has issued against this fraud:
The warning clearly states that the newly registered shady website isn’t authorized to provide their suspicious services and sell their products to Canadian residents.
Being in possession of a Tier 1 license means the broker provides segregation of funds through separate bank accounts. Keeping the clients’ funds out of the broker’s reach is how the funds are safeguarded from manipulation and misuse.
The trading environment is kept secure by implementation of the highest safety measures and risk-reducing conditions, such as negative balance protection and leverage limit at 1:30. Additionally, compensation funds guarantee a portion of the investments to be returned and clients are protected in case of disputes.
“I have been ripped to shreds by Mtcapitals. They have manipulated, lied, promised. On requesting to withdraw my funds Millie Schild, so called Financial Advisor, became insistent that I leave the money with them. Then I was told the American cash crisis influenced their ability to release my funds which were being held by Escrow for up to 12 weeks. I have no way of contacting them now – their email address comes up as error as does their info email address, Millie has blocked WhatsApp contact, and I do not expect a reply from her email address. My MT Capitals account number no longer exists. I have effectively disappeared. How do they continue to rip honest people off?”
“This is a scam, but by the time i found out i was out $29K…. So i hope other people are smarter then i was and look online for review before doing business with them”
“Bad experience,although got everything out after almost two weeks of back and forth dispute, i would not encourage anyone to do anything with mtcapitals”
MTcapitals will have you believe how their aim isn’t scam but providing traders with the innovative techniques for the most lucrative CFD trading. While you won’t see even a trace of these glorified new tools, all you will have is stories and promises of it that the scam agents make.
These will follow you everywhere – your emails, messages and social networks will be clogged with their offers and your phone will be constantly ringing. Wherever the boiler room seller sees a chance, they will not give up until you invest.
You may start with a small sum, but it soon becomes insufficient for achieving everything the scam agent promised you. So they will have you invest more every time until you’re spent. The final goal of the game is to drain all your capital and get away with it before you notice anything was wrong.
While just about any bait under the sun is forced, boiler room agents have a tendency to manipulate your trading motives and emotions, especially in a romantic way. So be very careful who you share your private info with. Scammers could be lurking just about anywhere and it’s a matter of time until they start bothering you.
There are other dangers as well. You will see later in our MTcapitals Review that the fraudsters behind MTcapitals also allow you to create an account in their Trading Platform by using your Social Network accounts. We can’t stress enough how dangerous it is to share this sort of sensitive information with known scammers!
The three months old scam is active in various countries. From what the former customers say, this unscrupulous company tends to handpick their victims. Only the invited ones are allowed to join. That didn’t slow down the poison from spreading, it seems. As of now, the countries with the biggest number of victims are the following:
MTcapitals advertises a uniquely equipped and super-advanced trading platform that should make the traders feel at home. The friendly interface should allow you to navigate the distribution seamlessly while using the complex analytical tools allows the exact data control and insight. MTcapitals trader should be just the right solution for the most lucrative trading. However, these remain just claims and nothing more.
Because we couldn’t open an account immediately, we couldn’t verify if any of the statements about the premium futuristic software were true. Only invited customers being able to join makes the access to the advertised terminal restricted.
So we take all the claims that MTcapitals makes about their trader with a high dose of reserve. If we’ve learned anything from previous scam reviews it’s that their web trader is bogus intended for data manipulation by the scammer.
MTcapitals supposedly has their unnamed proprietary app available across all platforms – web, desktop and mobile. Traders should be able to access it on their mobile devices, too, and trade leisurely, whenever and on the go. Allegedly suitable for both Apple and Android phones, this claim also remains unverified as the rest about this software. No download links were given on the website, and we couldn’t find the Apple and Google store location of the app either.
Although all the advertisements about the exceptional MTcapitals platform may as well be fake, the broker still claims you can trade various financial products. Without the direct access to the trader itself, we couldn’t clarify what products are exactly offered. The website does not state which tradable asset groups there are, but MTcapitals does claim to provide more than 5.000 assets. From the account types descriptions, these seem to be the groups of products included:
Take a look at these outrageous account prices at MTcapitals:
These extreme price hikes have nothing to offer besides some alleged trading benefits. The most expensive account types are even advertised as yielding guaranteed profits on a weekly basis.
Being able to guarantee income is one of the most common lies these fraudsters tell people. Unfortunately, with the current level of technological development, even the most sophisticated market prediction computer systems like Aladdin have a rather large margin of error.
This is not the most dangerous part, even. You can use your Social Network account from Facebook or Google to create a MTcapitals Login! This way, the swindlers can steal your login information through so-called keyloggers, and steal your online identity for various other types of fraud!
Most scam sites don’t allow a Demo Account, and MTcapitals is no different. Without a Demo, you can only speculate on the market using real money. That means that you can’t test a trading strategy, or market prices before you commit funds, and this is exactly how the scammers like it.
The regulated brokers always provide a Demo Account to their clients. This is natural, because the continued success of their clients’ business is how they earn their profits. For this reason, they will go an extra length to provide all the necessary tools for the trader to advance in skill, and develop a successful strategy.
One of the underlying problems of dealing with MTcapitals is in the deposit and withdrawal options. Although the broker claims to accept payments through Bank Cards, Bank Wires and different E-Wallets, you can easily dismiss this claim due to the fraudulent nature of the website.
To make matters worse, the Terms and Conditions document doesn’t mention any conditions or financial channels through which a client may withdraw money.
Without the proper account and access to the Trading Platform, we could not verify any means of payment and MTcapitals withdrawal. In the end, the only way to facilitate a payout from the MTcapitals website might be through legal action.
For this reason we encourage our readers to contact us in the case they have already deposited money with MTcapitals. Our legal experts have ample experience in recovering funds lost to similar scams.
MTcapitals is a known scam company, which has already found its way onto the BCSC blacklist. Their website might look alluring, but everything about it is just a facade to trap people. MTcapitals uses only the most basic Web Trader, which helps them change the outcome of client’s trades at a whim. Additionally, the Terms and Conditions document does not disclose any withdrawal methods.
There are good chances that the MTcapitals swindlers don’t allow payouts from their trading platform. In the case you have deposited funds to MTcapitals, we urge you to contact our legal experts in the shortest time. You may book a free consultation via the Live Chat on our website, for the quickest response. Rest assured that we will do our utmost to help you recover the lost money in a timely and efficient manner.
MTcapitals is a known fraudulent company. A Canadian regional regulator, BSCS, has issued a scam warning about MTcapitals. We advise our readers not to engage in any business with MTcapitals.
The MTcapitals Minimum Deposit is set at $250. Although this doesn’t seem like a large sum of money, we remind our readers that many regulated brokers allow trading with less than $10 worth of starting deposit.
No, MTcapitals is a known scam and is not to be trusted with any money! If you have already deposited funds, you should seek legal help in recovering your assets. Our recovery experts are just one click away, and you may book your free consultation at any time through the Live Chat on our website.
The post MTcapitals Review – So New Yet So Devious And Manipulative! appeared first on Global Fraud Protection.