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CapitalMarket24 (capitalmarket24) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Capital Market 24 scam works by getting you to believe you can become rich by trading with them.
It was just a little over a decade ago that the world’s first cryptocurrency, Bitcoin was introduced. Today, cryptocurrencies have become an alternative investment and thousands of them have been launched in the market that has exceeded the $1 trillion market cap.
These digital currencies are a part of investors’ portfolios these days, so it is not surprising that they have also become a hot trading instrument. This has resulted in numerous brokers popping up for facilitating crypto trading, but this CapitalMarket24 review will highlight that not all of them are a good option.
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Even though cryptocurrencies are an attractive investment option, you should not forget that the market is still mostly unregulated. They are also still relatively new and evolving, so most people do not have a lot of knowledge about them, or how they work.
Due to this lack of knowledge and regulation, crypto brokerage scams have exploded and there are thousands of people who have suffered at their hands. Unless you want to become the next victim, it is advised that you proceed with the utmost caution when you are choosing a brokerage for crypto trading.
No, this does not mean that you should refrain from crypto trading altogether. It just implies that you cannot just trust any brokerage because it is possible that it could be a scam. These fraudulent platforms often hide in plain sight by presenting themselves as genuine and legitimate platforms.
Those who don’t know better will fall for their bag of tricks and this is what they count on. Why give them the opportunity to steal your money? Rather than taking them at their word, you need to check them thoroughly before deciding if they are a good option.
You will find that CapitalMarket24 is advertised as a capable and professional crypto brokerage offering everything you may need for making high returns in this volatile market. But, a close and in-depth look is needed before you can make a decision. Let’s begin.
Licensing and regulation
Start taking a close look at an online broker with their licensing and regulatory status. If they do not have one, it is best for you to consider it a warning sign and steer clear. This is because the scams that happen in the market involve unlicensed and unregulated companies because they are not under anyone’s oversight and do not comply with any laws and regulations. They are free to do as they please, which means they may not offer you any security, or quality for that matter.
Why take the risk when you can just find licensed and regulated brokers as well? When looking at CapitalMarket24, you need to know if the broker is licensed and regulated, but there is no such information given on its website. It does mention a company name, but it does not disclose where it is based. There is no address given on the website and no phone number; just an obscure email address that is of no help. So, where exactly is it based?
You will find the answer in the Terms and Conditions of the CapitalMarket24 website because they indicate that the brokerage is registered in Saint Vincent and the Grenadines. If you thought you would be relieved to know where it is based, you will be disappointed because this offshore jurisdiction has the reputation of being a scam haven and does not regulate its forex markets. This means that CapitalMarket24 is truly an unlicensed broker, which cannot be trusted and has zero credibility.
You should look at the trading software that an online broker is offering before you decide whether it is a good or bad choice for you. The software plays a key role in your experience and your performance as well, so it is extremely important. There are numerous software that have been developed for trading, but it is the broker’s choice to decide which one it wants to offer. An innovative platform has been promised by CapitalMarket24 in its presentation, but this does not appear to be true.
When you look for the trading software on the CapitalMarket24 website, you are taken to a page that shows a bunch of charts. These charts show the prices of different cryptocurrencies that exist in the market, but this is all they do. There is no other information available, no tools, or any other functionalities to be found. As a matter of fact, it does not even have a trading option. All you are permitted to do is make a deposit.
This shows that CapitalMarket24 is only using these charts to create the illusion of a trading software and does not have any to offer. It means that CapitalMarket24 does not facilitate any trading and is only trying to fool you.
It is essential for you to go over the payment methods that are supported by an online broker. This is because you want to be able to make your deposits and withdrawals quickly and safely. When you take a look at the methods that CapitalMarket24 claims to support, you should not be surprised to find that it only allows you to use a number of cryptocurrencies for this purpose.
After all, it has posed as a crypto brokerage, so it is a given that CapitalMarket24 would offer crypto payments. But, most legitimate brokers would also give their clients other payment methods to choose from as well. It is due to the fact that crypto payments are final by default; this means that unlike credit cards and other methods, you cannot file for a chargeback and get a refund if there is any issue.
Apart from that, crypto payments are also anonymous because you are only given a wallet address, so you will have no idea who you sent your money too. This also benefits CapitalMarket24 because they can get away with your funds easily.
When you add in a high minimum deposit and poor trading conditions, you can see that CapitalMarket24 is not a good option for anyone.