When it comes to online trading, more and more traders flock toward crypto assets. It comes as no surprise that the global crypto exchange market is worth approximately 30 billion USD. However, traders should be careful when trading with cryptocurrencies because of the involved risks (volatility and trading scams). The former can be reduced by learning how to trade while the latter can be avoided by trading with legitimate brokers.
In this regard, you should stay away from AllCryptoCapital – a blatant fraudster. Therefore, continue with our AllCryptoCapital review to discover more about this scam broker.
In top of that, we seriously recommend you not to invest in the fake brokers Networkfsi, RaiseFX, and Fivoro. Do not trade with these unlicensed brokers if you want to save your money!
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Supported Platforms:||Web Trader|
|Minimum Deposit:||250 USD|
|Cryptocurrencies:||Yes, Bitcoin, Dogecoin, Litecoin|
|Types of Assets:||Crypto assets|
|Free Demo Account:||No|
|Accepts US clients:||No|
Is AllCryptoCapital a Safe Crypto Company Or a Fraud?
As introduced, the AllCryptoCapital broker is far cry from being a safe crypto company. Don’t believe in positive AllCryptoCapital reviews on the internet — they are fabricated to draw your attention. This shady brokerage firm is not authorized to operate anywhere. Thus, your funds’ safety is compromised here.
AllCryptoCapital claims to be registered in the UK, but there is no info on the company registration in the British Companies House. Moreover, all UK-based brokers must be licensed under the Financial Conduct Authority (FCA). Checking the FCA register gives no results about AllCryptoCapital’s license.
Therefore, it can be concluded that AllCryptoCapital is an anonymous, unregulated, and unlicensed broker that can be involved in fraudulent trading activities and get away with it.
AllCryptoCapital is a crypto-asset broker allegedly based in the UK but without the necessary license and regulations. Its trading conditions are based on falsehoods and misinformation. Although it hasn’t yet been blacklisted, it is just a matter of time before this phony broker comes under the scrutiny of financial authorities.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Since unauthorized brokers cash in on your interest in online trading, the logical conclusion is to choose only legitimate brokerage services. If you want the safest solution for trading, then choosing companies certified by tier-one financial market regulators such as FCA, ASIC, and BaFin is a no-brainer. In particular, these brokers are thoroughly vetted and closely monitored to ensure their compliance with strict legislation.
For instance, traders are protected in various ways from risks associated with buying/selling online. This includes negative balance protection, which means that you can’t lose more than initially invested. Also, legit brokerage firms hold your money in secure banking institutions and keep it separated from their capital (aka segregation of funds). So, if a broker goes out into liquidation, traders are not affected. Moreover, in such an event, premium supervisory bodies (like the above-mentioned) compensate traders. For example, FCA indemnifies up to 85,000 GBP.
What Platform Does AllCryptoCapital Provide Access To?
With reference to trading software at AllCryptoCapital, despite the fact it is advertised as a well-resourced platform, it is a mediocre web trader. Not just this program can’t deliver what is promised but is not able to ensure a successful trading experience at all. For that one, you need an advanced trading platform such as MetaTrader 4, MetaTrader 5, cTrader, and Sirix. They are straightforward and equipped with an innovative set of tools such as copy trading, stop loss and EAs.
Mobile App & Tablet
Concerning trading on the move, it is enabled by mobile trading apps. Many leading brokers offer their proprietary applications downloadable on Google Play and Apple Store. Also, modern trading platforms like MT4 and MT5 are available not just on desktops but on cell phones and tablets without compromising service quality. Regarding AllCryptoCapital trading on mobile phones, it is as limited and poor as its desktop version.
What Do We Know About AllCryptoCapital Account Types?
While on the matter of trading accounts, AllCryptoCapital offers the following types.
- Basic: minimum deposit 250 USD
- Silver: minimum deposit 10,000 USD
- Gold: minimum deposit 50,000 USD
- Platinum: minimum deposit 250,000 USD
- VIP: minimum deposit 1M USD.
Each of these accounts comes with an account manager option, which would be a great feature if AllCryptoCapital weren’t a dishonest scam broker. Otherwise, it uses this facet to rip you off.
Likewise, as you can note, for starting trading with this phony broker, you have to put down 250 USD. But why risk losing money when you can open a live trading account with reliable brokers for as low as 10 USD and make profits?
Does the Broker Offer a Demo Account?
With regard to a demo account, this version enables traders to test trading platforms and conditions. This option is very useful for newbies, allowing them to experience real-life trading without risks and costs. Every legit broker includes a demo account in its offer. In contrast, scam brokers rarely provide this option because it is free and can expose their inept services.
Areas Of AllCryptoCapital Scam
In relation to where AllCryptoCapital renders its services, as pointed out, this bogus broker operates illegally. According to its victims, this financial swindler is focused on scamming traders from
- New Zealand.
Speaking of operating legitimately in these markets, all brokers must be authorized by a relevant financial market regulator. In this instance, CNMV/Spain, ASIC/Australia, CFEC/Canada, CySEC/Cyprus, and FMA/New Zealand. So, if you are based in one of these countries, choose brokers accredited by aforesaid authorities.
Also remember the names of the MorganFinance, EuroInvestec and ZeraTrade trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Deposits & Withdrawals
In connection with a deposit and withdrawal process at AllCryptoCapital, very little is known about this. It goes without saying that brokerage firms must be transparent about how you can transfer funds to and from accounts, related fees, and processing time. Fraudsters like AllCryptoCapital are ambiguous about all of that so that they can easily manipulate and defraud you. In light of this, scammers frequently accept crypto payments as the only funding method. Why? Read below.
Deposit in Cryptocurrency – Why Dangerous?
Proceeding on this track, depositing money through crypto wallets is very risky, especially when it comes from a broker scam like AllCryptoCapital. Crypto payments wouldn’t be an issue if it was a valid company in question supporting secure means of payment such as credit cards and wire transfers. Con artists insist on deposits in cryptocurrency due to the anonymity and irreversibility of crypto payments. Thus, stay away from companies that only accept digital currencies for funding.
What Is Known About AllCryptoCapital’s Trading Conditions?
As regards the trading environment at AllCryptoCapital, it is unfavorable and fictitious. All account holders have margin loans depending on account type and ranging from 25% to 100%, which means that leverage is between 1:25 and 1:100. Likewise, swap or overnight fees are zero at VIP accounts while for other accounts there is a 15% to 50% swap discount. Spreads are not disclosed; it is just mentioned that they are ultra-low, which is expected since all scammers claim that. AllCryptoCapital’s terms of exchange are falsely presented to rope you into investing.
Scammed by AllCryptoCapital Broker? – Let Us Hear Your Story
If you are scammed by AllCryptoCapital, worry not, and don’t feel ashamed. Anyone can fall for a sophisticated trading scam. It is important to report it to the relevant authorities and warn the online trading community by sharing your negative experience. Last but not least, you can get your money back. If you asking how it is possible, please read the following section.
But What Is A Chargeback?
In the matter of retrieving the money, a chargeback process enables it. It depends on the means of payment. For example, VISA and Mastercard offer refunds if you apply for cashback within 540 days. Bank transfers can be terminated until you approve a transaction. Finally, crypto payments require professional assistance since they are difficult to trace and reverse. As far as that is concerned, our chargeback specialists can help you with this. Get in touch with our company today.