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Scgforex Review: It’s Possible That Scgforex.com Is A Scam

Scgforex Review: It’s Possible That Scgforex.com Is A Scam

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Estimated reading time: 6 minutes

Managed Forex accounts are like a fad these days. The internet has literally thousands of managed Forex account providers who claim to have a track record of managing wealth on behalf of both retail and institutional clients.

One such company by the name Success Capital Group Ltd. is on the spotlight.

Reason? They do not have a track record of performance.

It’s a little bit frightening to commit a large sum of money into the hands of an asset manager who is reluctant to show us what they’ve done with other clients in the past.

Thankfully, in this age of the internet, it’s very easy to identify fly by night operators who pose as asset managers.

We are not saying that Success Capital Group is a fly by night asset management company.

However, we can’t hide the fact that the trend that this company is displaying is worrying.

Their Facebook page says that the company has an active following of 8000 users.

How come that user engagement is very poor? Or let’s just put it this way: no user seems to be interested in what Success Capital Group is offering.

We begin to doubt those numbers. It’s like this company bought fake likes to promote a page that doesn’t have an actual following. This explains why that page is literally a ghost town.

We don’t want to judge them based on their social presence though. So let’s look at other things pertaining to this asset manager:

Success Capital Group overview

The firm appears to be based in London, and for you to do business with them, you must be able to invest a minimum of $5000. On the other hand, corporate investors have to part with a minimum of $100k.

Those who don’t want to use their ”recommended Forex brokers” are required to part with a minimum of $500K just to use this service.

Reason being, Success Capital Group doesn’t want to partner with just any other Forex broker. However, if you invest a minimum of 500K, this company is willing to break the rules for your sake, hence the phrase ”Premium client”.

A premium client is supposed to have certain privileges that other clients don’t get access to. These include (but are not limited) to visiting their office in London 🙂 .

And for the first time, we learned that Success Capital Group was based in London. They don’t have a physical address on their website to prove this.

Also, you have to remember that it’s always standard practice to publish these details on a company’s website. Otherwise, people become reluctant to make the next move.

Generally, this website left out a number of important things which we felt had to be mentioned here.

The following things can tell us a lot about the so-called Success Capital Group.

Generic website with generic content

A serious fund manager is more than willing to put up a convincing public image by utilizing the facilities that their website offers.

But the moment an asset manager uses a basic website design with generic content, you should know that something is not right.

The most obvious thing is that this is an asset manager who is trying to cut corners in order to save money.

There is only one picture at the bottom of this page (Scgforex.com/forex-managed-accounts). If you study it well, you realize that this picture belongs to SwissQuot.

Rather than using pictures of their own asset managers, and perhaps those of their trading facilities, this asset manager chose to use generic pictures to try passing their message across.

Success Capital Group

Seriously, it doesn’t work like that. Investors who know the pain of losing money will never fall for this kind of thing no matter what.

This website simply says that Success Capital Group is nothing but a bunch of lazy folks who came together with a different idea other than the one they are touting.

Their unwillingness to invest in a professional website design also says a lot about this fund manager. No investor likes to read a website that is an eyesore to them.

The bottom line is that Success Capital Group does not care about their public image. So why would you do business with them in the first place?

No phone support

There is no company with a ‘Ltd’ status that doesn’t have a phone number on their website.

It actually makes us conclude that there is a motive behind these things.

You cannot do business with someone who insists on restricting communications to email only (especially where large sums of money are involved).

There has to be phone support no matter what happens, no excuses.

This is actually a sign that this asset management firm is not serious in terms of customer support.

Email messages may take too long to answer. Consequently a client who has a burning issue may end up getting frustrated for no reason — just because Success Capital Group does not offer phone support on their website.

Excessive fees and high draw down expectations

At the end of the day, an investor who seeks the services of a managed Forex account provider must make profits in an environment where fees are minimal.

Success Capital Group charges 30% of the profits made. That’s quite high considering that most asset managers charge less than that.

Also, keep in mind that 30% is the estimated draw down that Success Capital Group asset managers have ever recorded.

That draw down is unreasonable, and may end up hurting your account if you combine it with the excessive fees that Success Capital Group is charging for their managed FX account service.

No company history or background

A company that cannot express itself clearly is a company that was formed with malicious intentions.

The ”about us” page is supposed to highlight company background as well as their mission statement and what services they offer.

Instead of giving prospective clients this information, Success Capital Group fills that page with content that is not so relevant.

Success Capital Group lacks transparency because they are not willing to expose their full details together with the people who run it, those who trade on behalf of investors among other things.

It’s very frightening to imagine that a stranger in the name of an asset manager will be trading your Forex account.

The fact that you have a binding contract like a LPOA doesn’t mean that you’ll be safe from losses. It does not prevent a malicious asset manager from achieving their end.

Why do you think Success Capital Group restricts clients to their own Forex brokers anyway?

It’s because they earn nice commissions from these brokers as long as they are in partnership.

So whether you make a profit or loss, the asset manager will always make money, either from you or the broker which they are doing business with.

scg brokers

Our Best advice for you

No one can express confidence in Success Capital Group and what they do.

This website simply lacks transparency, and the real motive seems to be hidden. Only novice investors won’t notice these things.

The bottom line is this, if you have $5,000 to invest, get yourself a cheaper automated trading system or attend any one of these Forex courses. The result will be this — amazing profits generated into your bank account on a consistent basis.

Summary
Review Date
Product Name
Success Capital Group
Author Rating
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3 Replies to “Scgforex Review: It’s Possible That Scgforex.com Is A Scam”

  1. If we loss money with this company though they promise for returns and said losses will not be more than 30% of invested amount but losses has increased more than 30% what can we do in this case?Can we register complaint against SCG and if yes to whom can we complaint?

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