Honest Capital Review – Why Your Funds Are in Danger With This Broker

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

Is Honest Capital an Avoidable Trading Scam?

Honest Capital, a brand of Coconors and Partners LLC and registered in Saint Vincent and the Grenadines, is the first. The regulator responsible for Forex and CFD brokers is no longer in place on this offshore island.

Many scammers view it as a huge opportunity. They can get someone to sign the documents, while the true owners are hidden in remote locations and manage the entire operation.

We knew this and were not surprised to find Honest Capital’s regulation. We’d be shocked if we did find anything.

We weren’t surprised, however, that the brokerage didn’t adhere to ESMA rules regarding leverage when onboarding EEA residents. The firm instead of setting a limit at 1:30, it allows for up to 1:100. This puts at risk the money of retail traders like you.

The best thing to do is to report the Honest Capital scam. You can help us fight fraudsters by telling our story.

Honest Capital is an off-shore financial swindler that operates without a license. Italy has blacklisted Honest Capital for its illegal operations.

Warnings against the Honest Capital Broker Scam

The Italian regulatory body CONSOB blacklisted Honest Capital not long ago. This authority added four companies in December 2022 to its unregulated entity list, including Coconors and Partners LLC and Honest Capital.

It is a member of the EU, so this is proof that the company provides unrequested services in the region. This is the main reason you should avoid them before you lose your hard-earned cash.

Where is Honest Capital Broker Scam Acting?

According to GoDaddy WHOIS, Honest Capital has been operating since October 12, 2022. These are the main countries where the firm is involved:

• US
• Germany
• Italy
• UK
• Netherlands

With your report, we can ask authorities to locate the scammer and ban this website.

Supported Trading Platforms: Available Trading Software

After you have logged into the Honest Capital trading platform section of the website, you’ll see the following: “Why Trade with MetaTrader?”

This question will lead you to believe you will have access to third-party software MT4 and MT5. You will have a basic WebTrader.

After we created an Honest Capital account, we were redirected directly to a browser-based platform. It provides an asset overview, trading news and history, as well as trading news and pending orders. It is not easy to use and does not offer advanced features.

Honest Capital Mobile Trading app – How can I download it?

You might get a mobile application if you purchase MetaTrader or another reputable software. Apps are rare with internet-based platforms. Honest Capital broker is honest.

What can I trade with a broker?

Honest Capital’s lack of a major trading asset, cryptocurrencies, was another big problem we found while reviewing it. There are four asset types offered by the company:

• Forex: EUR/USD USD/NOK GBP/AUD
• Commodities – gold, palladium, soybeans
• Indices – DJIA, DAX30, AU200
• Shares – Alibaba, Apple and Google

Spreads are fixed at 3 pip for FX majors. This is double industry standard and quite unfavorable to investors.

Overview of Trading Accounts

We believe that you are done with investing. Here’s a list with amounts and account types for Honest Capital that you can deposit.

• Silver — $250
• Gold $ 1,000
• Platinum – $2,500
• Pro – $5,000

All accounts are supposed to include basic support and protection against negative balances, but the leverage will increase proportionally. The minimum deposit required by Honest Capital is $250. This is the amount used to perpetrate FX frauds.

Is Honest Capital Demo Account Available?

The Honest Capital Demo account cannot be opened. Customers can view the platform after registration, but they cannot place trades.

You will receive an alert if you attempt to buy or sell any instrument. To test the system, you’ll need to put your cash at risk. You should be able to see the dangers.

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!

Honest Capital: Video

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