Capital Markets Banc (Capmb.co) is another Forex Broker scam to hit the lucrative Forex trading industry. CapitalMarketsBanc is claiming to offer the best Forex trading experience money can buy. With promises such as automated trade, we decided to investigate this fraudulent Forex broker. This investigation will reveal why we believe CMB is a fraudulent broker out to steal your deposits. Read this detailed and honest review to get the truth.
As we always say in most of our reviews, it pays to read what expert and experienced traders say. Capital Markets Banc claims to offer so many promises that we highly doubt that they deliver on. Some of these promises are simply not going to happen, one of them being trading successfully with CMB. What these scammers have done is come up with an eye-catching website to fool unsuspecting investors.
Claims and promises are a must have recipe for scammers to trap their victims. Another thing that scammers thrive to have is a well-thought out website. Capmb.co looks legit and easily entices one to believe that this is a legit broker. Don’t let the first glance fool you, there’s more than meets the eye. Here, we will reveal all the dirty little tricks that Capital Markets Banc uses to trap victims.
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Capital Markets Banc is owned by a company called Think Ahead LTD. This company has a weird name to start with. Disclaimer at the bottom of the page suggests that this broker is registered in the Marshall Islands. By their own admission, they bluntly state that they are offshore brokers. Offshore brokers are notoriously known for flaunting industry regulations and rules. This is the first red flag that we felt must be mentioned.
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When it comes to the names of people behind this broker, there’s nothing on the web. This is funny since we can’t simply deposit money to an unknown entity. What about the people who own Think Ahead LTD? Who are they, and what stake do they have at CapitalMarketsBanc? These are just a few questions that we feel we must get answers to. Anonymity is always a bad sign with any broker.
Capital Markets Banc is not licensed or registered anywhere on the face of the planet. Simply put, there’s no regulation body that claims to have given CMB license to operate. What this means is that CapitalMarketsBanc is not licensed to conduct any Forex business on behalf of any third-party. Whoever signs up with this broker is at risk of being swindled out of their deposits. This is the second red flag that we spotted with CMB.
A registered broker would easily post their registry details at the footer of the homepage. This broker does not in any way show us their registry documents. There’s no mention of when and who registered them to conduct Forex services. Whoever does this sort of thing is always a scammer. They know that people want to make an extra buck or two, and they take advantage of this need.
Capital Markets Banc has three different account types on offer to users. These three accounts are Micro, Standard, and Pro accounts. Micro account holders must make a minimum deposit of $250. Standard account holders must make a minimum deposit of $2500 to start trading with CapitalMarketsBanc. Pro account holders must make a minimum deposit of $20,000 to start trading with CMB.
What we also found funny with this broker is that they also claim to have different accounts. On their accounts page, they have different accounts from the ones on their homepage. Account page states that Capital Markets Banc offers three different account types. These accounts are ECN, Islamic, and VIP accounts. There are no details as to the minimum required deposit to start trading. Why the change in tone regarding accounts?
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Another red flag that we spotted were the fake trading tools claim they have on their website. These include having an autochartists, Forex calculator, financial calculator, and economic calendar. These tools do not work and some of them have been rigged in favor of this broker. Their economic calendar is one rigged tool that these fraudsters use to swindle unsuspecting investors.
Economic calendar has been used in the site to give false market information to users. Once this is done, users will place trades based on fake news and planning. These fraudsters claim this to be the case so that they can share the spoils. No investor should have to go through the lies posted by these unauthorized brokers.
Capital Markets Banc does not offer safety of funds to their clients. For all we know, users maybe depositing money straight to the owner’s personal bank account. There’s simply no way of claiming that we know where the deposits go to. This broker does not give any details as to who their depository bank partners are. Now you know why funds are not safe with CAPITALMARKETSBANC.
Another disturbing feature we noticed with this broker is that they don’t participate in a compensatory scheme. What this means is that your money is not insured from any unforeseen loses. A broker may go bankrupt or face insolvency, if this happens, you will not be compensated. This is another concrete reason why we believe that CapitalMarketsBanc is not worthwhile.
Homepage claims that this broker offers MetaTrader4 platform. However, for a platform to be convenient, it has to be compatible on all devices. Capital Markets Banc’s platform is not compatible with Desktop and mobile devices. Download of this platform stalls at 41% and this means that the platform itself is unstable.
An unstable platform is bad for business as hackers can easily gain access to them. Once hackers gain access to unstable platforms, they steal personal information data. Worse still, they can steal credit card information and as they say, the rest is history. This is one major flaw that we spotted with CAPITAL MARKETS BANC. Folks, signing up with this broker is opening you up to online fraud.
From the level of anonymity to having no registration documents, this is definitely a scam. Best thing is to stay clear from this broker. Another thing to do to avoid harassment by their email marketing team is mark their emails as Spam. Don’t click on any links sent by their email marketing team as it possible contains malware.
Only viable option left for us is to blacklist CapitalMarketsBanc as a scam. This is in the hope that relevant authorities will look into this website. After all said and done, we hope that the authorities will shut their whole operation down. Who needs another scam in the Forex world? We are all tired of Forex scams that tarnish the good Forex trading name.
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