OptCapitals tries to take an alterative approach to its website, but ultimately fails. Not only is the end result inadequate, but we can clearly see that the broker is not professional and a shady one at best. Unfortunately, we won’t be discussing a legit broker today. All in all, nothing of what we are about to read here is actually new, nor is it a surprise. OptCapitals is nothing more than a shady and illicit broker, one of thousands, that offers nothing profitable. Read the review to find out what we mean.
We created an account in less than a minute, which just gives to show how easy anyone can access the user area and proceed to deposit. However, one must get verified first. We can bet that OptCapitals really relies on this tactic to attract a large depositing user base.
Unfortunately, we could not get a hold of a user area, nor a trading account. Therefore, we had no direct access to a trading software. The website claims that forex currency pairs, options, cryptocurrencies, and stocks are the available trading instruments. There are TradignView charts with spread and leverage details, but these might not pertain to users of OptCapitals. Third party charts are usually used by those that have nothing to show., and thus borrow other graphs to fill the empty room.
We find no spread or leverage values that we can trust, at least slightly.
The website of OptCapitals is available in English, Portuguese, Spanish, Chinese, Italian, Turkish, French, German, Japanese, Swedish, and Indonesian.
OPTCAPITALS REGULATION AND SAFETY OF FUNDS
OptCapitals discloses close to nothing in terms of registration or license details.
In reality, it gives away a US-based address, but there is no way that the broker actually is located in the United States and offers legit FX trading services. The US is the most regulated FX environment, and it would neve in a thousand years allow OptCapitals to legally operate there. In other words, the US address is false and misleading!
We can easily ignore the US address, and return to our initial argument, that OptCapitals is anonymous, without a trace. These types of brokers are perhaps the most dangerous for they are hard to trace, and can disappear just as easily as the appeared.
However, OptCapitals is not only completely anonymous. It is also fully UNREGULATED, a risk to all investments, and perhaps even an investment scam! Do not invest in it if you cherish your funds!
We find it completely useless to invest in an unregulated broker. All investments will be lost! Always rely on regulated brokers, either from the FCA or CySEC, or the CFTC/NFA, or any other trustworthy license issuer. All these overseers keep record of the brokers’ activities, demand from them reports, require to keep the market integrity stable, and above all, call for the safety and security of all users, their funds and personal details. The FCA and CySEC are special in that they offer client compensation schemes which are applied to users whose brokers cannot pay them back due to financial predicaments. CySEC offers a €20 000 refund amount per person, while the FCA guarantees up to £85 000.
OPTCAPITALS TRADING SOFTWARE
We find claims that OptCapitals offers CopyTrading services, which is excellent, although we cannot make sure that this is true. Seeing the state of the broker, we rather not believe this claim.
The same principle is applied to the web trader, if there even is one. We cannot be sure of anything here, but judging by the way the broker acts, there probably is no such thins as a trading platform offered here.
OPTCAPITALS DEPOSIT/WITHDRAW METHODS AND FEES
It would be irrational to think that OptCapitals offers any sincere payment details. Our expectations were fully met. The website offers no payment details whatsoever.
Aside from an alleged minimum deposit requirement of $500, there is absolutely nothing else to mention. We have no other choice by to rely on our own wits and beliefs.
The most common payment methods are bank transfer, credit cards, debit cards, alternative payment gateways, and crypto methods. Rarely do we get all of these together, it usually a mix, or one method at a time.
Typical withdrawal processing times usually take around 5 days to complete, sometimes less, sometimes more. As for any fees, well this question is the most difficult to answer, since most scammer brokers tend to have some sort of fees, but never really mention them. Following this, we can assume that OptCapitals also has some sort of withdrawal fees, as well as other, unrelated to payments, fees.
How does the scam work?
A fair number of fake online ads lead to scammer brokers, or to intermediary websites that introduce the scheme and its fake benefits.
From these ads users get fooled into entering the broker site, which means that the ads themselves are very tempting, but over-the-top nevertheless.
The next thing that the scammer wants you to do it to give away your phone number or an email address. The idea behind this is for the broker to bridge the distance between itself and the user, in order to keep a closer eye on the user.
Through these contact mediums the scammer broker can easily harass the user and compel him or her to invest. It’s as simple as that.
These reps that keep contacting users are trained to shape the user’s choice and to manipulate. Their one and only goal is to initiate deposits, and to keep the make-believe scheme relevant. This is easily done by revealing profit gains (but never allowing for the user to withdraw it), by promising higher gains, or by simply being too charming to say no to.
We assure our readers that the broker will never allow a withdrawal to process. The client will be left to fend for her own.
What to do if scammed?
The user must rely on the payment systems to eventually get her stolen money back.
The safest bet is a chargeback procedure with the client’s credit/debit card provider. MasterCard and VISA have a chargeback period of 540 days.
If the money was lost through one or multiple bank transfers, users should, first and foremost, change the wire account user name and password. Next, the trader should contact the bank and create a plan of action.
All investments using a crypto wallet are lost. They cannot be traced and are thus the riskiest of all investments!
Users might come across recovery agents, who are nothing more than another brand of scammers. They ask a payment in exchange for returning all of your lost investments! If you pay them, you ill never see your money again!
The post OptCapitals review – 5 things you should know about optcapitals.com appeared first on TheForexReview.com.