Who Operates This Company?
When exploring a potential investment opportunity, understanding the individuals or entities behind the business is crucial. Unfortunately, in the case of the firm under scrutiny, uncovering ownership details proves to be challenging. The elusive nature of this company extends to its operational jurisdiction and oversight by financial authorities.
While legal documents vaguely mention Polish courts as the exclusive jurisdiction for dispute resolution, inquiries with the primary regulatory body in Poland, KNF, have yielded no information about the company.
Further investigation into various registers only reveals that the company is flagged as an illicit platform with fraudulent intent, as reported by LB (The Bank of Lithuania). Given these findings, it is advisable to exercise caution and steer clear of Bankwiz as it appears to be just another dubious online scam.
Purchased Reviews Fail to Boost Credibility
Rather than obtaining a legitimate license and constructing a credible offering, the brokerage firm under examination opted for the dubious approach of purchasing services from review-selling networks. This attempt to present an unrealistic image of the company backfired, as Trustpilot successfully detected and removed numerous fake reviews, as indicated by the site’s notification. Currently, the majority of available reviews are notably negative, with users expressing nothing but complaints and negative sentiments toward the platform.
Schemes Targeting Forex Novices
The Cyber Capital Ltd scam appears to target inexperienced Forex traders who lack sufficient knowledge and information for savvy investing. Utilizing boiler room agents, the scammers swiftly approach potential victims, enticing them with an attractive offer. Common reasons presented for investing with the firm include promises of high returns in a short time, minimal effort or knowledge required, and favorable trading conditions. Given that social networks are their preferred hunting grounds, potential targets are often contacted through these channels.
Statistics on Victims
Despite the scheme being relatively recent, it has managed to defraud traders since March 2023, with victims hailing from:
- Italy
- Spain
- France
- Lithuania
If you find yourself struggling to make a withdrawal, do not hesitate to seek help. Our professional legal team can assist you in recovering stolen deposits.
Malicious ActiveX for Platform
Attempting to download the promised MetaTrader directly from the website proves futile. Instead, users must register for an account and download the terminal from the user panel. However, it was discovered that this is not a trading platform but rather a malicious ActiveX component, posing a significant security risk. This component could potentially infect your machine with malware or enable remote access, allowing fraudsters to steal and misuse personal information and sensitive data.
Common Assets Offered
The clarity of the financial instruments offered is questionable. However, given that no actual trading occurs on this platform, this information holds little significance. From the data available on the site, the following products are mentioned:
- Forex (EUR/USD, USD/JPY, EUR/CHF)
- Indices (DOW, FTSE, NSDQ)
- Crypto (BTC, ETH, LTC, XRP)
- Commodity CFDs (Soybean, Wheat, Gold)
Same Old Account Names
The site features a standard offering of trading accounts with frequently used generic names. Confirming their intent to scam traders, it is evident that none of the features claimed by these packages can be genuine. Despite this, the scammers set exorbitant prices for these bundles:
- BRONZE – $500
- SILVER – $1000
- GOLD – $5000
- PLATINUM – $10000
Deceptive Promises of No Costs
The blacklisted sham claims not to charge commissions on trades and asserts that their spreads are the lowest in the industry. However, legal documents contradict this, revealing the existence of trading taxes imposed per trade, with the amount undisclosed. It remains concerning whether the undisclosed trading tax or the permitted leverage of 1:200 is more alarming. For reference, EEA Forex dealers are not allowed to offer leverage higher than 1:30 for risk control.
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