- Unregulated Broker: Olsson Capital operates without a valid license from any reputable financial regulatory authority.
- Regulatory Warnings: The UK’s Financial Conduct Authority (FCA) has issued a warning against Olsson Capital for unauthorized financial activities.
- Negative User Reviews: Numerous complaints about withdrawal issues and other fraudulent activities are prevalent across various trading platforms and forums.
- Lack of Transparency: Crucial trading information like spreads, leverage, and platform details are concealed, raising concerns about the broker’s intentions.
Company Overview
Feature | Details |
Parent Company | Carter Enterprises OU |
Registered Address | Estonia |
Operational Address | Sofia, Bulgaria |
Regulation | Unregulated |
Services or Products
Olsson Capital primarily focuses on cryptocurrency trading, offering Bitcoin, Ethereum, Ripple, Litecoin, Dash, Bitcoin Cash, Ethereum Classic, and Zcash. Additionally, they claim to provide forex, indices, commodities, and stock trading. However, the exact nature of these offerings, including whether they are CFDs or binary options, remains unclear due to a lack of transparency.
If you have lost money to companies like CanaCapital24; or Deal-X; please report it to us on our report a scam form.
Trading Platform & Leverages
The broker promotes a web-based platform, but its accessibility and features are undisclosed. No information about leverage is available, which is a significant red flag. The absence of a popular platform like MetaTrader 4 and the lack of a demo account further indicate a lack of transparency and potential for fraudulent activities.
Spreads and Cost of Trading
Olsson Capital fails to disclose essential trading costs like spreads and commissions. This lack of transparency makes it impossible for traders to assess the overall cost of trading and compare the broker with regulated alternatives.
License and Regulations
Despite claiming operations in Estonia and Bulgaria, Olsson Capital is not licensed by the Estonian Financial Supervision Authority (EFSA) or the Bulgarian Financial Supervision Commission. The FCA’s warning about unauthorized activities in the UK reinforces the broker’s unregulated status.
Legal Warning Against Olsson Capital
The UK’s Financial Conduct Authority (FCA) has issued a formal warning against Olsson Capital, stating that the broker is providing financial services without the required authorization. This is a severe red flag and should deter any potential investor.
Deposit and Withdrawal Methods
Information about deposit and withdrawal methods is limited. However, given the numerous complaints about withdrawal issues, it’s advisable to exercise extreme caution when considering depositing funds with Olsson Capital.
Olsson Capital Pros and Cons
Pros | Cons |
Offers cryptocurrency trading | Unregulated broker |
Claims to offer forex, indices, commodities, and stocks | Lack of transparency about trading conditions |
No information available | Numerous negative user reviews |
No information available | FCA warning |
Why Dealing With An Unlicensed Broker Is Risky?
Dealing with an unlicensed broker like Olsson Capital exposes traders to significant risks:
- Lack of Regulatory Oversight: Unregulated brokers are not subject to financial regulations, leaving investors unprotected.
- Security Risks: Your funds and personal information may be at risk of theft or misuse.
- Market Manipulation: Unregulated brokers can manipulate trading platforms and prices, leading to substantial losses for traders.
- Difficulty in Resolving Disputes: In case of issues, there is no regulatory body to intervene on behalf of the investor.
Client Feedback
Numerous negative user reviews highlight the difficulties faced by Olsson Capital clients, primarily concerning withdrawal issues. Traders report being unable to withdraw their funds, with the broker often citing various excuses or simply ignoring requests.
How Can “Reviewsadvice” Help You If You Get Scammed?
While we cannot guarantee recovery of lost funds, “Reviewsadvice” can provide guidance and support to victims of investment scams. We can help you understand the situation, gather evidence, and explore potential legal options or You can report to us today using the form below.
File A Complaint Against Scammers
Final Thought
Olsson Capital exhibits all the hallmarks of a fraudulent broker. The lack of regulation, negative reviews, and regulatory warnings should be sufficient to deter any potential investor. It is crucial to prioritize safety and choose a regulated broker with a proven track record.
