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When it comes to using money with the intent of making money, it boils down to reputation. However, if the deal in question sounds too good to be true, then you will need to think again.
Beware of companies that offer managed accounts for those who want to invest in Forex.
Not all of them are genuine, and secondly, even the genuine ones have been known to swindle and frustrate their customers at some point.
With respect to that, we want to focus on Risecap FX. It’s a relatively new company that claims to offer managed Forex accounts for clients who either don’t have time to trade or are not knowledgeable on how to trade.
As you know, many companies have recently emerged, and they are operating just like Risecap FX, promising modest to super-abnormal profits while you sit back and relax, sipping Martini.
So, can we say that Risecap FX is genuine in its operation? Are there any guarantees that at least you will earn a return on your investments if you purchase any of their packages?
That’s what this review is getting into.
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The outward image is that of a serious Forex managed accounts service.
They have 4 different account types which they claim have been designed to fit the needs of every investor.
The minimum that you can invest with them is $500. The second package requires a minimum of $5,000, while the third and fourth packages require $50,000 and $100,000 respectively.
Return on investment is said to be between 15-38% — which sounds too appealing in the ears of investors who want quick returns.
It is not always easy to find a company that can easily make you 38% return on investment on a monthly basis.
This is because the market is not predictable, and no matter how experienced or technical these ”fund managers” claim to be, mentioning a certain percentage as return on investment would be highly misleading— especially if that percentage is just too high.
Their Micro managed account promises a return on investment of 33% every month.
However, that percentage is not realistic to achieve on a managed account funded with $500 only.
Unless you are increasing your level of risk (which would guarantee blowing your account at some point), there is no realistic way to expect a 33% return on investment while trading an account worth $500.
The higher the return, the higher the risk. That’s what they say.
In our opinion, Risecap FX is over-estimating their return on investment by giving us unrealistic figures which can’t be achieved in the long term.
Most dishonest fund managers will promise a 30% and above ROI because they want to attract investors, and not because they are speaking from the perspective of someone who wants to be transparent with their clients.
These days it’s very easy to set up an ”office” in any part of the world so that you can start operating business like a real, genuine fund management company.
While we are not discrediting the fact that Risecap FX has a physical address and locations which they claim to operate out of, the problem is that this does not guarantee safety of your funds.
Phony fund managers have setup boiler rooms and equipped them with well-trained sales people to aggressively market their products and services.
These crooks often have a respectable physical address, and may even run shop out of several physical locations.
To make matters worse, these ”companies” may engage in illegal activities even if they are regulated and are displaying their license number on their site.
Such companies have been known to disappear without trace after defrauding their clients of an unknown amount of money.
At this point, you come to the realization that a physical location, a phone number and even licensing does not mean anything. But they are certainly the starting point for every fund manager who wants to run a genuine business.
This reminds us of the fact that Risecap FX is not regulated by any governing body.
After scouring their website for this information, we found none.
Now, the awkward thing is that Risecap FX claims to sell their financial services to clients residing in the US and Canada as well.
These are well-regulated markets, and anyone who intends to offer some sort of financial service to the general public must be willing to seek licensing.
Apparently, this is not the case with Risecap FX. They are simply running an illegal business, and that should be treated as a red flag. Anyone who loses money after ignoring this red flag should hold themselves accountable for their loss.
We feel that somehow things are not right with this company.
We looked into their track record and found nothing. Risecap FX does not have a track record of performance. We are not sure if they are willing to produce it on demand.
However, the fact that details of their track record is scanty should tell us that something is wrong with this company.
Any company that claims to offer managed Forex accounts must be willing to show proof of their past performance. It’s one of the critical requirements and a right of customers who would like to use their service.
Secondly, it is written on the Risecap FX that the company begun in 2013 and has remained operational up to now.
We believe that this is a fairly long period of operation for any company that manages client portfolio. How come there are no reviews or testimonials concerning this company?
Sure, the only testimonials we saw were written on the website. These can be moderated or influenced due to the fact that they are written on the website, not anywhere else.
The fact of the matter is that it is not very easy to gauge what people are truly saying about a company if you can’t find any mentions of this company on social media and industry forums.
Risecap FX literally has zero mentions on forums like Forex Peace Army, yet they claim to have existed and served clients all this while.
Does it mean that this company doesn’t have its critics? How come that no one is talking about them elsewhere on the internet?
You need to ask yourself this question before you ”invest” your hard-earned money into this service.
Also, the fact that Risecap FX cannot substantiate the statistics appearing on their site means that this company is only good at promoting its services.
They have employed salesmen and women who craft marketing campaigns that convince even when evidence is not involved.
Their sweet tongues have earned them clients who later realized that even though the deal sounded good, the reality of the matter is that they were only being taken for a ride.
It’s not an easy task spotting a phony fund manager. They know how to conceal anything that would give them away as evidence that they are shady.
Risecap FX does not have ratings anywhere. Secondly, the company does not have user reviews that would instill confidence in anyone who wishes to use their services.
Thirdly, their projected return on investment sounds too good to be true. You’re better off using these Forex products for your investments because they have been rated highly and are realistic in profit potential.
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