Is 53 Capital Trade a scam broker?
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53 Capital Trade is located at London U.K. which started its operation in Feb. 2017. It is an unregulated and unlicensed binary options and forex CFD trading broker. Many investors and traders are confused what exactly they are offering, forex trading and/or binary options. One of the comments on the site is that they are operating from Israel.
All individuals and firms who are promoting, offering or selling financial product or services anywhere in the UK have to be authorized by FCA. Though there are firms who function without taking authorization and some knowingly run investment online scam.
Account types on offer are Standard (minimum $1,000), Premium ($10,000), VIP ($50,000) and Diamond ($100,000). The asset offered page on their website does not open for the general public to view. Minimum deposit being $1000 is too high. Now a day’s many companies are asking for a minimum deposit of $250 because of technological advancement and economies of scale. It does not provide demo account.
The trading software is called Airsoft which can be used for private and institutional investor’s worldwide. The website is available in English, Russian and Spanish. It works on desktop, laptop, tablet, and mobile. Someone commented they have an association with 53 Option and also with Edgedale Finance.
They have on offer more than 100 assets comprising of commodities, forex pair, stocks and market indices. According to their website, the highest potential on trade is upto 90 percent. Binary options available are short term, long term and countdown with different expiry times, the maximum being 24 hours.
Payment methods are bank transfer and credit/debit card (Visa and MasterCard).
53 Capital Trades is a scam broker because FCA has published a warning to general investors that the company is not registered, is not regulated and does not have any authority whatsoever to offer its services to residents of Britain.
There is no information on the web site regarding platforms, trading conditions, or even instruments that are on offer. There are a lot of complaints and negative reviews on many reputed forums. Maximum numbers of people have difficulty in withdrawing their money.53 Capital Trade scam story is as usual. You get called from a company representative who claims to be knowledgeable and will provide a sound financial advice. You deposit the amount in an account through various deposit methods available. To begin with, clients usually, opt for account type which has a minimum deposit. Trades are made and most of them are winning one. Account grows in size. At that point, you are told there is a big opportunity coming their way to make a killing and convince you to deposit more. This keeps on going on till you keep on deposit. Since your account has by now have doubled and to secure your investments you go in for a withdrawal. Then problem like a technical