FinanceCapitalFX Review – Trustable Broker or Another Scam?

As of May 2023, the broker (Financecapitalfx.com) has ceased operations. But you can read the article to avoid falling for similar scammers.

Is FinanceCapitalFX a Forex or Crypto Trading Scam

FinanceCapitalFX broker claims that it is owned by FinanceCapitalFX Cyprus Ltd. To be true, the firm would have to be registered in Cyprus under strict supervision by CySEC, the Cyprus license provider.

This authority has strict requirements for Forex and CFD brokers. They require a minimum operating capital of 730,000 EUR, clients’ funds to be kept in separate accounts and participation in the ICF with a reimbursement of 20,000 EUR per client.

We could not find any regulation for FinanceCapitalFX when we searched. CySEC is not the only EU regulator that this brokerage is registered with. We found warnings about fraud instead of approval.

All firms that operate in the EEA area must comply with ESMA rules. Retail investors are also limited to a maximum leverage of 1:30. Broker FinanceCapitalFX, on the other hand allows leverage as high as 1:200

Their T&C also confirms that Saint Vincent and Grenadines law and Estonian law are the governing laws. While the first one does not have a financial supervisor for Forex markets, the second is known as the EU’s offshore zone.

FinanceCapitalFX was part of the now-defunct scam. It promoted its services via fraudulent Google ads, defrauding thousands of clients, and then vanished. It is a typical Ponzi scheme.

Warnings about the FinanceCapitalFX Broker Scam

In November 2022, the Italian regulator CONSOB exposed the FinanceCapitalFX trading fraud. This website was also blacklisted and marked as financial fraud.

Later, the warning was republished in Belgium and Estonia. This ended the scam. Although the domain has been closed, we believe it will soon be reactivated.

We would love to hear from you if you have information regarding the operation of this fraud business.

Is FinanceCapitalFX a scam?

We received 12 FinanceCapitalFX complaints. But the majority were from:

• Italy
• Spain
• Germany
• Albania

This website has been online since September 2022. According to SimilarWeb, September 2022 was its most visited month. The site’s visitors have declined over the years, and it is currently not accessible.

How does this fraudulent company find victims?

Our research revealed that FinanceCapitalFX Forex broker ran 1K Daily via Google Ads. This is a typical affiliate campaign run by advertisers who are selling details of potential prospects to fraudulent sites, such as financecapitalfx.com.

This ad offers the opportunity to earn $1,000 per day by using an automated trading system. As you can see, there is no automated trading bot. The company needs your initial deposit.

All those who submitted their information were called regularly and offered different bonuses via email. Account managers then added them to Telegram chats and WhatsApp chats, promising all they could think of.

The broker also had his employees looking for victims on social media such as Facebook, Instagram and YouTube. The employees would create a profile on the network as financial advisors, and then boost their credibility by posting impressive resumes.

Always carefully consider the offer that you receive. Don’t accept anything that sounds too good to be true.

Trading Software Available

We reviewed FinanceCapitalFX’s trading platform, and were able to access a WebTrader. It is a typical web-based software that has several TAs. Surprisingly this software has a copy trading interface. This means that you can follow other traders to copy their trades.

We want to warn you about one thing. As long as the broker you trust, copy trading can be a reliable way to earn good money. A display with many traders and large profits can be seen. However, it is impossible to trust that the investors are genuine if they are offshore. Although you may see a pretty picture of bots, following any one of them could put your account at serious risk.

We recommend that you stick to third-party platforms like MT4, MT5, and cTrader. These platforms offer the same feature, but they are more reliable. They are not available with FinanceCapitalFX.

FinanceCapitalFX Trading Tools – What Can You Trade?

Clients had access to five main trading asset groups, even though login was not possible.

• Currency Pairs Forex or FX – EUR/USD/GBP/AUD, NOK/SEK
• Commodities – Gold, Silver, and Corn
• Indices – NIKKEI 225, DAX 30, S&P 500
• Shares Amazon, Google, Meta
• Cryptocurrencies – BTC, USDC, IOTA

The broker’s regulatory status is not as attractive as the list.

Comparing Trading Accounts – What is the Difference?

We found 3 types of FinanceCapitalFX accounts called investment plans.

1. Standard – 250 EUR
2. Premium – 2,500 EUR
3. Luxury – 25,000 EUR

The major difference is that the commission can vary from 0-8.7 EUR depending on the plan.

FinanceCapitalFX requires a minimum deposit of 250 EUR. This is quite high compared to other brokers. You can start as low as $10 with Micro accounts.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

FinanceCapitalFX: Video

Below you will find a short video about FinanceCapitalFX. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about FinanceCapitalFX!