Blocks Payment and User Account
Following, we are going to review CAPMB. This is a forex broker that is based in Bulgaria. It is not licensed and is regarded as a scam. Following we are going to review this broker and evaluate whether its worth of your trust or not. So stick with us.
Capital Markets Banc is a Forex CFD Broker. Joshua Partners EOOD owns and operates this broker. The registered address is Fridtjof Nansen Street 9, 1149, Sofia, Bulgaria. This broker was registered in 2015. It has made quite a reputation for all the bad reasons. We have decided to dig deep before giving our conclusion about this broker.
What Does It Offer?
This broker offers several options to its users. These assets are cryptocurrency pairs, Forex Pairs, and CFDs. The trading software is Panda Trading System. The website is available in several languages including English, Spanish, Russian and others.
The maximum leverage is 200:1 and normal spreads are 3 pips. It offers 175 tradable assets, and the minimum deposit $250. CAPMB also offers live support 24/7 by live chat. But is it worthy of your trust? Let’s find out!
We found the following issues with CAPMB. These issues show how this broker scams you.
Cold Calling is an unethical business practice. It is an extreme variation of an effective market technique. The difference is cold calling sort of extorts money. Yes, apart from new clients, it involves calling already signed up members and forcing (blackmailing) them to invest more money.
Blacklisted by FCA
Capital Markets Banc is blacklisted by the Financial Conduct Authority. The broker provides services in the UK without authorization. Moreover, the authority is wary of its practices and how it deals with the customer.
Every financial company offering financial products or services have to be licensed by FCA. This adds credibility to their name and assures the consumer is protected. However, CAPMB is not one of these. See Proof.
Blocking user payment is a trademark of fraud. Yes, almost every forex scam involves withdrawing issues. A reliable broker assures you don’t have any issues withdrawing your money. If you notice troubles in payment, you better leave the broker because sooner or later, he is going to scam you.
Once the client has a substantial balance in his account, he loses the ability to withdraw funds. Well if he is persistent and tries to contact the company to withdraw his money, he loses his account. Yes, this broker blocks their account. There are many complains registered in forex forums.
The best you can do in a situation like this is hiring a recovery agency.
With what we have discovered, there is no way we are going to recommend CAPMB. This broker is a scam who will rip you off for every penny you have. It is not licensed and uses the worst business practices. It won’t ever benefit you. So we will stay it clearly, stay away from this broker