Is Boss Capital a scam broker?
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Boss Capital was launched in 2014, and is owned presently by Melnic Group Ltd located at Sofia Bulgaria. Previously it was owned by Cheshire Capital Ltd located at Norwich UK. It is a binary options broker.
In the present context, it does not appear to be a scam but it has gained much of bad reputation because of complaints related to withdrawal and bad investment advice given by their official staff. You can review these complaints in the comment section of most of the sites that are in this field.
Checking at the website does give us hints about the performance of the brokerage house. Positive or negative spikes in traffic at the site are indicators and should be considered as warning signals. Boss Capital does show these signs. In August and September 2016 they had 60K and 55K visits respectively. In the very next month i.e. October visits went upto 690K (10 times) and two months later there were down to 230K visits. Nearly one-fifth visits were from Canada, whose regulatory commission issued a warning to Boss Capital.
Boss Capital is based on Tech Financial platform and has some of the most advanced trading features. It has a full array of assets. It represents all the major currencies pair and also have bitcoin. There are 28 international and reputed indices. Standard features like one touch/no touch, inside/outside boundaries, high/low, are supported by this platform. Additional features which are not found on many other platforms are above/below trading. Expiry period is acceptable on this platform but not the best.
Technical analysis is provided by leading investment research provider Trading Central. They provide their services to financial market professionals and are considered among the top in their business. In this way, Boss Capital traders can gain huge benefit from Trading Central’s knowledge.
Boss Capital is a scam broker because it has been issued warnings from Canadian regulatory (OSC) for using leading personalities as a reference in their get-rich-quick schemes to lure traders even when they have not endorsed the advertisement. It is one type of luring traders and then scamming online.
Italian regulatory (CONSOB) clearly stated that the parent company is not authorized to offer investment services. Since company changed hands now they are neither regulated nor authorized.
There are complaints about platform collapsing on numerous occasions. And trades are getting lost. Ultimately it is traders who suffer. Because of frequent shutdowns, traders lose out on many lucrative trades.
The company is nowadays using the same old trick used by many binary options scammers. They have started requesting clients to invest more and more amount. The assigned manager makes huge losses and is shunted out. The new manager takes you into confidence to recover the lost amount but before that requests you to deposit more.
It is found that Boss Capital has shut down their operations and has left many traders in an awkward position. So if you are not able to recover your funds you can contact MyChargeBack to help you out from this mess.
MyChargeBack has a professional team who has financial, regulation and legal background. They are in a business to assist people like those who have been caught in Boss Capital is a scam broker and other such similar situation. It can be cryptocurrencies scam, binary options scam, forex fraud, debit/credit card fraud and things like that.