Posing as a regulated broker, our Culture Capital review exposes why this broker is an utter scam. Those who have invested with the broker know all too well the underlying issues. For example, the broker blocks withdrawals, among other red flags.
Here’s our candid culturecapitalth.com review.
Some brokers seem professional at first viewing. And Culture Capital is one of them. The broker appears logical and professional once you look at the platform. However, all is not rosy on this platform.
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The broker sells themselves as a genuine international broker. Unfortunately, there’s little information about the founding members. Culture Capital LLC is supposedly the parent company behind this broker.
Information on their registration is phony at best. The company is not found on the registered company’s record. Furthermore, the registration number provided by the broker doesn’t match any records on the Company House UK registry.
Despite claiming residency in the UK, the location has some issues. First, there’s proof we are dealing with an anonymous broker. Most likely, the broker is offshore-based and wants to fool European traders.
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There’s no credible background or history of the team anywhere on the platform. The about us page speaks little about how the broker came to offer liquidity services. And with that, we have more questions.
One of the biggest red flags with the brokerage is withdrawal. Chances are, you won’t get to withdraw funds with this platform. And that’s why we need to expose the broker’s biggest weak points. Avoid brokers with large withdrawal complaints.
A copy trading feature allows members to copy the trades of a master trader. The records or trade history of the master trader change. And it seems the signals provided are far from accurate, according to members.
The broker promises social trading and a straightforward way of making a profit. Unfortunately, that’s not the case when you sign up with the broker. All you get is a platform failing to offer much in terms of accurate signals.
Performance fees for the copy trading tool are also high. You get to share 50 percent of the profit with the master trader. Remember, the master trader remains unknown, and records of their trading history keep changing.
We would not advocate for copy trading from a broker who fails to offer legit trading services. Copy trading should provide members with accountability and transparency. Above all else, it should show accurate signals with a 90 percent win rate.
One of the advantages of trading with this broker is the available terminal. In addition, the broker offers a world-class trading terminal to members. As a result, you get to use the industry’s best trading platform.
MT5 offers a barrage of advantages to expert/skilled and newbie traders. It has a demo account where you can test the set conditions without losing funds. The account also offers virtual funds to help with trading.
With this platform, you also find an exclusive eye for detail. The platform enables traders to customize it to suit their trading style. You also get access to over 50 technical indicators with the platform.
Traders also get access to robots that help automate trades. The accuracy of signals is above par and is one for the books. You get to trade with formidable brokers despite being a more technical platform.
There are two account types available on the culture capital brokerage. These include standard and professional accounts. Each of these accounts promises something different to members. Let’s take a closer look at each account;
It’s the most basic account, and the broker lists it as best for newbies. Members get ‘flexible bonus offerings’ with an acceptable minimum deposit of $500. Leverage for this account is normal, 1:100.
There are commissions to earn with the standard account. Spreads start from 0.1 pip, with traders getting the fifth decimal feature.
Selected as the best for expert traders, the acceptable minimum deposit is $1,000. After that, the leverage rises to 1:500 on all trading assets. Spreads start from 0.3 pips, and members earn commissions up to $9.
Margin and stop-out levels stand at 70 and 30 percent, respectively. The broker also promises an account manager with a professional account.
We have an issue with the acceptable minimum deposit for the standard account. The broker asks for double the set minimum deposit by regulators. And that shows the broker is not interested in protecting client funds.
Leverage is also an issue with the professional account. High leverage means putting your trading position at risk. The broker does this and fails to meet the set regulatory leverage standards of 1:100.
These are not actual account managers, but they are call agents. These agents call and claim to have a lucrative open position. All you have to do is deposit funds with them and wait for the profits to soar.
That’s not the case; these agents share your deposit and go dark the moment you fund the account. So, again, the broker is to blame and fails to mitigate any losses incurred by these money managers.
There’s an Introduction Broker program available on the platform. Apart from this affiliate program, there’s also a membership program. The membership program consists of three accounts, gold, silver, and platinum.
Members pay a monthly fee of $5,000, $15,000, and $30, 000 respectively. For this membership, members get exclusive signals from expert traders. These are false claims, as no one has come out heaping praise on the broker.
Four trading instruments are commodities, forex, indices, and stocks. Commodities include major household items such as sugar and wheat. You also trade crude oil and energy. Forex trading happens to be at the core of the platform’s activities.
The broker offers major and minor currency pairs for trading. There are no spreading risks with exotic and minor pairs. However, leverage on some of these pairs risks your trading position. Therefore, we don’t recommend it.
Indices are ideal for day traders if only the broker allows withdrawals. Some indices found include those from America, Asia, and Europe. Stocks also play a massive part in the broker’s trading plans.
You get to trade stocks from leading companies from all sectors. These include the coveted FAANG group of shares. Tech shares are some of the most traded shares in the markets.
For a broker who claims to use advanced technology, there’s no direct access to support. You don’t even get live chat support. The broker limits communication to emails. We see a broker who doesn’t want to engage with would-be victims.
Culture Capital fails to get a trading license from the Financial Conduct Authority. As a result, the broker provides no valid license in terms of transparency. And that’s why we have to expose this broker.
Please avoid anonymous and unregulated brokers, as they don’t have your interest.
Avoid unregulated brokers who pose as clones.
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