770Capital (770capital.com) is a brutal Forex broker to hit the lucrative trading world. This broker is promising users heaven only to deliver hell. Complaints have been sent to us by members who lost their entire deposits with 770 Capital. An investigation was underway to determine the root cause of this anomaly. This review is geared towards revealing all the dirty tricks used. Read on to find the whole honest truth.
These scammers have done a good job of creating a well thought after homepage. Its no wonder that so many people have fallen for this scam. To be honest, this homepage looks real and has some a good user-friendly interface. Don’t let this homepage fool you, there’s a rotten plot behind it all. These scammers simply want to create a lasting impression so that members sign up with 770
Promises are what scammers are all about. Everyone wants to make easy and quick money, that’s what scammers take advantage of. These fraudsters have taken advantage of the need to get money quick. What they do is make you think that they’ve created a way to help you satisfy this need. 770 Capital will take away your money immediately you deposit money with them. Best thing to do is stay away from it.
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According to the disclaimer at the bottom of the page, Maxi Services Group is the company behind this platform. Problem with this statement is that there’s no way of verifying what these scammers are saying. 770 Capital is simply shredded with anonymity which is a cause for alarm. How do these people expect us to deposit money with a company we know nothing about? Also, this broker is an offshore broker.
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Offshore brokers are notoriously known to flaunt industry rules and regulations. Maxi Services Ltd is situated in St. Vincent and Grenadines. This means that any person who signs up with 770 Capital will be dealing with an offshore broker. These brokers do not follow the simplest of rules such as participating in a compensation scheme. That’s why most members have lost money and not compensated.
There’s no indication whatsoever that 770Capital is regulated or licensed anywhere on the face of the planet. Regulatory institutions we contacted have no clue that 770Capital exists. To find out whether this broker was legit or not, we contacted the relevant authorities. First on our list was the FCA who adamantly claimed never to have heard of 770 Capital. Next, we contacted CySEC who also claimed to be on the verge of banning 770CAPITAL.
What about 770Capital being licensed to operate in Forex trading? 770 Capital is not mandated to conduct any business in regards to Forex trading. There’s a simple reason to this, 770Capital is not regulated. This means that members are dealing with an unlicensed and unregulated broker which is illegal. Brokers such as these are tarnishing the good Forex trading name. Best thing to do is stay away from this platform.
The platform that 770Capital uses is MT4 trading platform, which is the industry’s accepted platform. What we did was check and test whether their platform was set to industry’s standard. A good platform should be easy to use and also user-friendly. Platforms which are genuine should also be compatible to all devices. 770Capital platform is not close to these acceptable standards.
First problem we encountered with their platform is that it could not work on our devices. Download took ages to start and did not complete. This means that mobile users cannot trade on the go. Worse still, it means that we are dealing with an unstable platform. Unstable platforms are easily hacked and make users prone to online identity theft. A newbie hacker can easily steal your credit card information with this platform.
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Another disturbing factor we uncovered with 770Capital is their empty promises. Some of these promises include instant execution, exclusive affiliate programs and no hidden charges. Folks, promise of instant execution is a lie since their platform is slow even on web platform. Their affiliate programs don’t pay any member. Worse still, any affiliate sign up is tantamount to one being an accessory to fraud.
Claims that 770Capital offers members ample training is also a big lie. What are they using webinars, eBooks, tutorials, Video chats? What exactly do they mean by Forex training? Don’t fall for these empty promises that fake brokers throw at you.
Only thing that these scammers got right was how members could deposit money. When it comes to depositing, they have this all covered, Members can deposit money using different channels such as Visa, MasterCard, and Maestro. In fact, deposit can take less than five minutes. Don’t take it as a good thing, it’s what these scammers are after, your money. Make sure you read below the downside of 770CAPITAL.
When it comes to withdrawing money with 770Capital, all hell breaks loose. There’s no member who has withdrawn funds using this broker. Members get all sorts of excuses as to why they can’t withdraw money with 770Capital. One of the examples they like using is that members have not reached the required trading volume. Problem with this is that even after you trade for a year, you will never withdraw money.
There’s a chat box at the bottom of the page but don’t expect to get any answers. What we did was ask a simple question and we never received an answer. Only visible thing was that we were number one in the Que list for more than an hour. This simply means that we are dealing with an offline platform.
There’s no doubt that 770Capital is a scam in the making. From the level of anonymity to empty promises, 770 Capital is definitely a scam. Mark all emails sent by their email marketing team as Spam and never click on any links. Stay away from 770Capital.
Only option remaining for us is to blacklist 770 Capital for the scam it is. Stay clear of this platform. There are a lot of people who have lost money with this platform, don’t be another victim.
Always go for Genuine and Honest Forex brokers and start making real money with Forex trading. A Proven and Tested way of making money with Forex trading is by using Authentic and Convenient brokers. Stay safe and trade comfortably always with Trusted Forex brokers and start making Real money.
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