When you’re looking for an unlicensed brokerage who is also a rogue operator of Forex and Crypto CFD trading platforms, you can’t skip Olsson Capital. These guys launched this brokerage in 2017, and are asking for a minimum deposit of $250.
The brokerage is based out of Bulgaria, although their phone numbers are leading us to Great Britain which means that they are targeting people from the UK and possibly all over the world.
Now, the sad news here is that the FCA warned that Olsson Capital does not have the authority to provide any form of investment service in the UK or anywhere else where such kind of activities are regulated.
In fact, for any form of trading that you will conduct online, you should only choose regulated brokers. Those who are not regulated, like Olsson Capital, are often scam brokerages.
Olsson Capital disregards all warnings against them and are operating without a license. Each day, they continue to lure traders into their platform, which often results in losses from the side of their customers.
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Olsson Capital has found a way of implementing attractive features to make clients interested in what they are offering. For example, they are running SpotOption 5.0 web-based trading platform which offers more than 100 underlying assets.
The reason this software is loved is because it’s a little bit easier to use or get familiar with. So newbies will automatically love it. It operates just like MT4 where you can select leverage, place your Take Profit and Stop Loss accordingly.
Initially, the minimum trade size is $50, as mentioned before, clients are required to part with a minimum investment of $250 in order to open an account with these guys.
Olsson Capital claim to have employed qualified trade analysts who deliver signals to their traders for free. This is supposed to act like value added service because you are now a bona fide customer of Olsson Capital. What you might not know is that these people have no track record of winning any trades. They are in no way qualified to advise you on matters related to trading. In fact, this is a highly regulated area of business. One must have the relevant documentation to operate this line of business. This brokerage doesn’t have any license for this business.
We have been reviewing Forex and Cryptocurrency brokers here and one of the things we check is whether the brokerage we are reviewing is licensed or not.
Using a licensed brokerage will mean that traders deposits are insured by the respective government regulators and are kept in a segregated account. This money cannot be put in the same account as that which belongs to the company. In that case, your funds should be safe.
Now, in the case of Olsson Capital, it is not regulated, and so the above things won’t apply to your funds. The broker can therefore decide to deny you the rights to withdraw your money. They can choose to go rogue when they like to since the regulators are not keeping them in check.
Therefore, the main thing here is that Olsson Capital is not regulated. Please keep that in mind because it is important when it comes to the security of your investments.
Since they launched this business in 2017, the trading community has reviewed them in a negative light, which further confirms that they are doing what their unregulated status is affording them.
Consumers have been complaining that this brokerage will call them countless time to force them to place a deposit. They seem to talk people into depositing more money into their platform. Once they feel that the victim has sufficiently been depleted, the scam broker will stop calling them one and for all.
Olsson Capital has employed a qualified staff who will always get their customers on the line in order to sell them this elusive dream of overnight success. They are well-trained to do what they do. Perhaps this is the reason many people fall for their promotion efforts. As a result, many traders are reported to have lost money through this unregulated brokerage which has even caught the attention of the FCA.
And these scammers also seem to be calling people from different countries. To get them calling you, one will have to sign up and not transfer any funds to their accounts. That will initiate a series of calls which originate from different countries while trying to persuade you to make a deposit. Most people have reported that this habit is bothering and is unprofessional.
These are all red flags that we should be concerned with whenever we hear people talking about Olsson Capital. But one thing that caught our attention was the claim that this company was talking traders into borrowing loans in order to trade in their platform. Their representatives have been calling potential victims and pleading with them (if they don’t have money) to take a loan because the money would be returned once profits had been accumulated in a few days.
This is the get rich quick mentality which we have been talking about here. If a scammer calls you and tells you to borrow a loan so you can use it for trading, resist them. You can even ignore them because those people clearly want to rob you in broad daylight.
Olsson Capital has really destroyed their reputation. It is difficult to recover this reputation because for one, they are a known scam. They cannot seek licensing because they cannot get it or qualify for it.
This is a scam brokerage. That is so obvious, you can’t mistake them for something else. They are going to rob you online. Maybe you can recover your money. But that’s going to cost you too. Avoid.
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