No one knows whether the broker is a bank or brokerage service; our Patriot Capital Review reveals it. For those who don’t know, the broker is a scam. Pouncing on unsuspecting investors, our patriot-cap.com review exposes all the red flags.
Why should you avoid this broker?
For countless reasons, the broker has no valid license and blocks withdrawals.
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Patriot Capital Pty Ltd is the entity we are told owns this platform. There’s no business record or Company registration number to follow. Members are to believe what the broker claims without asking questions.
That’s no way of investing or trading in the real world. Accountability and transparency are vital in ensuring everyone gets what they want. And that’s why our patriot-cap review plans to expose the red flags found.
The broker claims Patriot Capital is a trading platform operated by industrial professionals. No one gives names, as members are led to believe the platform is a haven for trading. That’s not the case.
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We strongly believe Patriot Capital is an anonymous trading platform. The names mentioned as owners don’t work for the platform. For example, Roman Nalivayko and Oleksandr Kachur are traders from TraderEvolution.
The broker is using names of known brokers as part of the scam. We have reached out to both on LinkedIn and none affiliated with patriot-cap.com. And that goes to show we are dealing with another scammer.
There are dozens of reasons why this broker is a scam. The broker uses false registration documents and is entirely unregulated. Signing up and depositing funds with this broker is a huge disappointment for most.
No one gets to withdraw funds from the platform. Here are the short reasons why Patriot Capital is a scam;
These are the primary reasons we advocate against signing up with the broker. Using false regulatory details tops it all. It goes to show how far the broker will go to fool investors. And that’s why we have to expose this ruthless broker.
A custom-built trading platform is what you will find with this brokerage firm. It is best you avoid custom-made trading terminals and instead use world-class platforms. We recommend using MT4 or MT5 trading terminals.
Their custom-made trading platform has a lot of loopholes. Instability is one of them, as the platform is slow at executing trades and loading all financial instruments. We also have a broker that doesn’t offer much security.
The platform lacks technical indicators, and members can’t customize it to fit their trading style. Automatic trading is out of the question as the platform fails to offer accurate signals. In addition, you won’t find robots that work with the broker.
Surprisingly, the broker fails to mention anything about trading accounts. We have a broker that doesn’t offer any information about available tiers. And that’s another reason to doubt the broker.
Every broker gives members information on what to expect with available trading plans. However, the broker fails to give leverage information, spreads, and trading fees. Members only find out after opening an account.
And this is another reason why we insist the broker is out of bounds for us. We see a broker determined to have members fund accounts with no actual trading. That’s why we have to expose the accounting aspect of this platform.
Regarding leverage, the broker does a Hail Mary and offers insane leverage. Expect leverage to change even if you place a trade using your preferred leverage. The broker fails to provide much in terms of actual leverage.
For those new to trading, you should know that sufficient leverage should be 1:100. The broker offers leverage way above the regulator’s recommended point. So expect leverage of up to 1:500.
Are there fixed or variable spreads? That remains unknown.
The acceptable minimum deposit on this account is another issue we have to raise. The broker insists on deposits above $1,000. That’s improper as the broker fails to input the regulator’s acceptable price point.
Regulators have agreed to a minimum acceptable deposit of €$250 in almost all jurisdictions. Some regulators even accept deposits for as low as $10.
You get to trade with four different trading instruments on the platform. These include commodities, forex, indices, and stocks. Trading commodities include household products such as sugar and wheat. You also trade crude oil and energy.
Forex trading is at the core of the broker’s services. The broker only offers a handful of major forex pairs. You won’t spread your risks with exotic or minor pairs.
Available indices are those found in America, Asia, and Europe. Stocks found on the platform include those from manufacturing and tech. The broker usually targets the FAANG group of stocks for tech.
Don’t expect any support from the broker, as there’s no live chat. The broker also leaves no direct access to support or the broker. We suspect the broker uses a virtual phone number with the listed phone number rarely going through.
Please avoid brokers who avoid direct contact with members. It shows the broker fails to offer relative and proper checks to regulators. In addition, please prevent this broker and any others from sharing similar qualities.
There are several deposit channels, including bank and wire transfers. The broker doesn’t allow any form of withdrawal. For the past few weeks, no member has had the chance to withdraw funds from patriot-cap.com.
The broker will insist on a high deposit with a promise of helping double the amount. That’s similar to a pyramid scheme where members get a guaranteed high ROI within a short period. Please stay away from such brokers.
Your funds are far from safe with this broker. The broker fails to offer much in terms of the safety of funds. Additionally, client segregation is out of the question as the broker fails to provide insurance coverage for deposits made.
We suspect the broker holds funds in a single bank account which is illegal. Brokers should not hold public funds in a single account for various reasons. In case of bankruptcy, no member will receive any compensation.
The broker wants members to think so. Therefore, before offering any loans, you must deposit the guaranteed amount. Once you do so, the broker blocks your account.
Patriot Capital is by far one of the worst brokers this year. The broker claims to have a license from the NFA, which is not the case. There are no documents to prove this fact.
Please stay away from patriot capital brokerage.
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