Beware! CapTradeOptions is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Warning! CapTradeOptions is a Forex broker which is abusing the registration details of a highly renowned FX company, which is authorized and regulated in EU, UK, USA and Australia. CapTradeOptions itself is a totally anonymous scam Forex creature which has nothing to do with the usual retail Forex trading. They do not even have T&Cs document, a red flag confirming that CapTradeOptions should not be trusted. Find everything you need to know about this dangerous Forex broker in the full CapTradeOptions review.
CapTradeOptions REGULATION AND SAFETY OF FUNDS
CapTradeOptions falsely claims to be authorized and regulated by CySEC in Cyprus, FCA in UK and ASIC in Australia. They provide us with registration and authorization numbers, but these are actually the details of a different, true Forex broker, accordingly registered and regulated, which has nothing to do with CapTradeOptions.
CapTradeOptions reassures to be authorized under the license FRN583263 by FCA:
The check up in the FCA register showed that it’s the license number of eToro:
CapTradeOptions is a clone firm that is trying to play a trick on the traders, pretending to be a legit and trustworthy company. In reality it’s an illegal enterprise, illicitly selling Forex products and services to the customers, which itself is a serious financial crime. On the CapTradeOptions.com website they have simply replaced the name eToro with the name CapTradeOptions, except for a few places where they have obviously missed to do so! eToro hasn’t authorized CapTradeOptions as a representative in any way!
Your funds are not safe if you make a deposit with CapTradeOptions, it is an unlicensed, unauthorized and unregulated illegal Forex broker, which is violating the local and international financial laws!
If you are looking for a reliable, true Forex broker choose an authentic CySEC(EU) or FCA(UK) regulated company. The customer protection policy is placed on top of their priority list, not only because they want to, but because they have to. In these jurisdictions the Forex brokers have to comply with many strict rules and regulations, such as minimum capital requirements of 730 000 EUR, personnel qualification standards, segregation of the clients accounts etc. But most importantly, there are money protection schemes in operation, such as ICF in Cyprus and FSCS in UK, which guarantee the deposits of the traders. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.
CapTradeOptions TRADING SOFTWARE
CapTradeOptions doesn’t offer Metatrader4 or Metatrader5 accounts, instead they replicate the business model of eToro, as well, offering copy trading and claiming to be the world’s leading social trading platform. But the opposite is true, CapTradeOptions is an obscure Forex creature that doesn’t even offer a functioning software, trade execution turned to be impossible, a red flag that is convincing enough to make you avoid this fraudulent scheme. The so-called social trading platform consists of a TradingView chart and a panel of Crypto pairs, both of which serving for information purposes only.
Rather than that, you have to choose a trading agent who is supposed to trade on your behalf. Do not ever invest with the agents of CapTradeOptions, it’s a scam!
No spreads, no leverage and no margin requirements known.
CapTradeOptions DEPOSIT/WITHDRAW METHODS AND FEES
There aren’t T&Cs presented to the customer, which is yet another proof that CapTradeOption is a scam Forex broker.
No minimum initial deposit requirements. There are three different funding methods listed- Bitcoin direct transfer, Skrill and PayPal, but the two e-wallets are not actually available. We suspect, however, that there might be additional ways to deposit money, as we found out that some of their agents operate in Instagram, actively using the platform to fool more people by showing MT4 mobile screenshots of profits and winning trades.
No minimum withdrawal defined, and no withdrawal fees specified in size and scope. No dormant account policy and no fees for inactivity introduced, as well.
No bonuses or other trading incentives offered.However, CapTradeOptions introduces a Referral Program.
HOW DOES THE SCAM WORK
Firm cloning is a type of investment scam that is becoming increasingly popular recently. The scammers are illegally the names, registration numbers, licenses, address etc. of businesses and individuals, which are duly registered, regulated and authorized to sell financial products and services to the public. By doing this the fraudsters are trying to trick the customers into believing that they are dealing with a genuine and distinguished, legit and renowned company. It’s an effective way to take off the guard of the wary investor, making him vulnerable to the scam.
CapTradeOptions goes even further, instructing the customers how to avoid scam, it’s a tricky maneuver, we have to admit, but it didn’t work with us and we were able to quickly expose them by simply checking the registration numbers provided by them. You should always do so, with any Forex broker out there, validating its legitimacy is the top of the top priority for you!
You should be very cautious and have to report immediately if someone from CapTradeOptions contact you! We detected Instagram profiles of people who introduce themselves as employees of this scam Forex broker, and falsely claiming to make tons of money whatsoever. It’s one of the trendy strategies nowadays, as the social media platforms has never more popular and crowded, including everyone and everything. Beware!
WHAT TO DO WHEN SCAMMED
No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!
Share online your experience, it is important to protect others, as well. Be responsible!