The internet has revolutionized the way we trade and invest our money, offering a range of online trading platforms to choose from. However, not all trading platforms are created equal, and some operate as scams. One such platform is Capitist.com. In this article, we will provide an in-depth review of the Capitist scam broker and highlight the risks associated with dealing with unlicensed brokers.
Company Overview
Capitist is an online trading platform that offers trading services in forex, stocks, indices, and commodities. The company’s website states that it has a team of experienced traders who provide expert guidance to clients. The company’s contact address is 1076 Uxbridge Road, Hayes, England, UB4 8JB.
| Broker Name | Capitist |
| Website | https://capitist.com/ |
| Location | England, UK |
| Regulation | Claim to be regulated by many organizations, but none of them are valid. |
| Traders’ review | Mostly negative |
Team
The company’s website does not provide any information about its team members, which is a major red flag. The lack of transparency makes it difficult to verify the team’s expertise and experience, which is a cause for concern.
Services or Products
Capitist offers clients access to a range of financial products, including forex, stocks, indices, and commodities. However, the company’s website does not provide detailed information about the products or services it offers, which is another red flag.
Trading Platforms
You cannot find any information about their trading platform and we did try to get it from their customer service section. But no good result was found.
License and Regulations
License Status
They claim to be operated by Capitist Group and regulated by the FCA, but we did not find any confirmation from FCA. Also, they claim to be operated under many jurisdictions in different locations.
About Regulation
All of the mentioned regulatory authorities are not bound to confirm the authenticity of the broker. They just provide the registration process. These regulators always mention that these registrations don’t mean the authenticity of the broker.
Why Dealing With Unlicensed Brokers Is Risky?
Unlicensed brokers are not held accountable to any regulatory body and can operate without any oversight or monitoring. This lack of regulation means that clients are not protected from fraudulent activity, and their funds are at risk of being misappropriated. Dealing with an unlicensed broker like Capitist is risky as clients have no recourse if they encounter any problems with the company.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Legal Warnings Against Capitist
Several regulatory bodies have issued warnings against Capitist, including the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). The FCA has issued a warning stating that Capitist is providing financial services in the UK without the necessary authorization. The CySEC has also issued a warning stating that the company is not authorized to provide investment services in Cyprus.
Client Feedback About Capitist
The company’s website lacks a review section, which makes it difficult to gauge client feedback. However, several online forums and review websites have negative reviews about the company.Â
About Trading
Capitist claims to provide the MT5 platform for its clients. When we also tried their platform, we found this:
This means they are sharing the platform with another company, which makes it clear that they are nor a legist broker.
About Customer Service
Clients have reported difficulties withdrawing funds and poor customer service. Some clients have also reported that the company engages in fraudulent activity, such as manipulating prices and executing trades without authorization.
How Can Reviewsadvice Help You If You Get Scammed?
Reviewsadvice is a financial watchdog that monitors online brokers and trading platforms to ensure that they operate within the law and provide clients with a safe trading environment. If you have been scammed by Capitist or any other online broker, please submit your case to us and get a free consultation. We will provide you with some service recommendations to help you in recovering the fund.
Final Thought
Capitist is an unlicensed and unregulated online trading platform that poses a significant risk to clients’ funds. The lack of transparency, poor customer service, and fraudulent activity reported by clients make it clear that Capitist is a scam broker. Clients should avoid this broker at any cost.
