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Cappmore FX is the type of broker who claims to know every bit of aspect of trading and guarantees results. Here’s the truth about the broker in our eye-catching cappmorefx.com review.
Operated out of New Delhi, India, Cappmore FX has now gone under after complaints from investors. The platform started off by blocking withdrawals before demanding ransom for access to these accounts.
Cappmore FX is a perfect example of why you should invest in properly regulated forex brokers. The platform leaves no room to suggest we are dealing with a professional. Even when the platform was live, there were a few issues worth noting.
Before you invest in any forex brokerage, we recommend you do due diligence. Try and find out what makes the platform different from others. You also need to know the necessary requirements of a legitimate broker.
Hundreds of investors are counting their losses as the broker and the website went offline. There’s no one to help them withdraw funds or even recover funds. This is why our cappmorefx.com review plans to guide you on how to choose the best broker.
Before signing up with any broker, check and confirm their credentials. Is the broker licensed by a reputable regulator?
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For more, here’s our candid Cappmore FX Review.
One of the culprits behind this brokerage also offers an educational program. The platform operates under the name SAKSHAM TRADING ACADEMY with the platform not in line with standard brokerage platforms.
There’s little to point us to the professional capacity of the brokers behind this platform. Some may be self-taught while others are mere scam artists in the forex niche. Despite all that, we have to expose how the scam works.
With the website no longer in service, we believe the scammers will pop up with another similar scam. Seeing how many investors fell for it, the platform will often come with the same antics and profit margin claims.
Apart from offering forex trading services, the platform guaranteed daily profit margins with their copy trading tools. The tools were not tested and investors signed up blindly not verifying the performance.
Any real trading product or service needs verification from a reliable source. Those in the forex industry know the importance of Backtesting as it gives a clear indication of results and possible performance.
We normally use MyFxBook to help with the accurate data and performance levels of products and services. These include copy trading tools and other forex related products such as robots and AI generated signal providers.
Investors or traders get to choose from a plethora of plans available. For newbie traders, the platform claims to have professionals that will trade on your behalf. You will have to pay an extra fee for this to happen.
Traders who do know how to trade get the chance of selecting one of the accounts available. You get to trade with accounts that fail to give proper trading conditions. Traders dive in not knowing set leverage or spreads.
After signing up, you can trade with the platform changing some of the trading variables without informing traders. That’s why you need to stay away from this platform or risk losing everything.
When the time comes to withdraw funds from the platform, that’s when all hell breaks loose. The platform doesn’t offer much when it comes to transparency. No trader gets to take home their winnings.
Accountability and transparency should be at the forefront of how things should work. You need to get trading with a legit platform backed by traders and has a proven track record. Don’t just sign up with a broker due to the profit guarantee promise.
There are three investment accounts available for trading on the Cappmore FX trading platform. Each of these plans target a specific group of traders starting from beginners all the way to expert traders.
Let’s take a closer look at each of these plans;
It’s the most basic account with the broker knowing investors will try trading with the least deposit amount. The account accepts a minimum deposit of $10 with the maximum set at $499. There are no demo accounts for any of the tiers.
The account is one for traders who have a bit of knowledge on how trading works. You get to trade with a platform offering much more than just guaranteed profit margins. The account claims a professional broker is there to help.
It’s the most lucrative account with the platform offering nothing more than just loose spreads and high leverage. In some instances, leverage is 1:1000, way above the accepted threshold for trading forex at 1:100.
One would expect a broker to offer round the clock support for traders. That’s not the case with this platform as it fails to offer any support to members. Despite having a live chat widget, what you get is a bot answering basic questions about the platform.
And that’s where we draw the line when it comes to investing platforms. You deserve help and the platform just with a reputable broker, should offer 24/7 support. Cappmore FX won’t bother answering your calls as well.
Finally, there have been customers who have come out and expressed their disgust with the platform. Those who have signed up with the platform know all too well the issues that come with withdrawing.
It seems withdrawals are the biggest challenge facing investors on the Cappmore FX trading platform. The broker blocks withdrawals and finally deletes your login credentials when it comes to trading with this platform.
Cappmore FX is not a licensed or regulated trading platform and therefore a high risk investment platform. You must stay away from the platform or risk losing everything. What we have is a platform failing in its obligation to offer fair trading conditions.
A regulated broker ensures they follow set procedure in terms of leverage and spreads. Brokers should offer above fair leverage and tight spreads to traders. That’s not the case as the broker offers bloated leverage.
Before signing up with a broker, check to see whether the platform is legit and has a license from a financial oversight body. It ensures all parties adhere to strict trading rules and offers protection to clients in the event of bankruptcy.
Security of funds on any platform should be a game-changer when it comes to making your decision to sign up. And safety of funds should be at the top of your list. If the platform fails to offer safety of funds, please stay away.
We have seen unregistered platforms going under without even offering compensation to members. Such brokers fail to offer an insurance cover for deposits made. And that’s where we draw the line with Cappmore FX.
After reviewing the platform, it’s clear Cappmore FX is a scam. Here are the facts that make cappmorefx.com a high risk trading platform;
Please Note: There are legit brokers who offer fair trading conditions and are regulated by some of the world’s best financial bodies.
Do leave a comment or email us with any questions.
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