Capital.com Faces Fraud Allegations Rising From Systemic Issues

Capital.com is a CFD Broker that offers access to 3000 CFDs including forex, shares, indices, commodities, cryptocurrencies and ESG. It integrates MetaTrader4 and TradingView and also offers access to demo accounts for beginners. Regulated by ASIC, CySEC, FCA, and NBRB, the broker also claims to ensure no deposit and withdrawal fees for the traders.

However, these claims and offerings fall short of meeting the expectations of traders who have been falling victim to some shady and scammy practices of the broker. It has a huge ratio of negative feedback from the traders seeking exposure, standing at 21 on WikiFX.

Traders‘ Allegations on Capital.com

Several traders have put forward the scammy practices of Capital.com, accusing the broker of fraud. A trader from Jordan has exposed the broker’s tactic of having a smoother deposit process, contrasting with its hard withdrawal process. Even after seeking customer support assistance and raising complaints with regulatory bodies, the trader is unable to withdraw their funds, and with each attempt, the amount just keeps falling back into the trading account.

Heres what they have stated on WikiFX with proofs:

This is just one of the 21 exposure-seeking comments, raising serious concerns regarding the operations of Capital.com and its credibility. Other traders have also reported similar types of issues, including:

• Complex and vague verification requirements, blocking access to funds
• Delayed or denied withdrawals
• Illegal order closure and manipulations
• Ignorant customer support service
• Locked or suspended accounts with no access to funds

The trail of complaints is a clear indication of recurring issues, showing that the broker has been opting for malpractices on a regular basis, and it is not just a case of luck or bias from some traders.

WikiFX Review of Capital.com

While Capital.com is a well-regulated broker, the rising number of complaints has degraded its trust score to 7.83 out of 10. Not just that, but there have been 4 risk alerts on the platform, cautioning the traders of the brokers malpractices.

Here are the risk alerts -

Furthermore, even after being CySEC-regulated, there is a lack of a Cyprus office, adding further to the concerns regarding the brokers operations and false claims.

Conclusion

Capital.com has been found to engage in misconduct with scammy tactics, including returning withdrawals to trading accounts, having impossible verification demands before withdrawing, or locking and manipulating trading accounts, leading to serious losses of traders funds. Traders are advised to avoid such brokers, and if approaching them, be cautious and verify the platform well with test withdrawals and monitoring of complaints and feedback.

Anyone who may have become a victim of Capital.com‘s scammy tactics may also raise an exposure comment on WikiFX to spread awareness about the broker’s false claims and reliability issues. Moreover, it is better if the traders only choose regulated, licensed as well as reliable platforms with minimal to no user complaints and instead a proof of fair offerings.

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