Caution Investors Capital Whale – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
Capital Whale is the brand name of Capital Whale Ltd, a company registered in St. Vincent and the Grenadines, a notorious offshore jurisdiction for shady financial activities. The website of Capital Whale does not provide any information about its regulatory status, license number, or registration details. It also does not disclose any contact information, such as phone number, email address, or physical address. The only way to reach customer support is through a live chat feature on the website.
Regulation and Compliance:
According to the AMF, Capital Whale is not authorized to provide investment services or solicit clients in France. The AMF is the French financial regulator that oversees the securities markets and protects investors from fraud and misconduct. The AMF warns that Capital Whale is likely to be involved in scam activities and advises investors to avoid dealing with this entity. The AMF also urges investors to check the list of authorized entities on its website before engaging in any online trading activities.
Customer Reviews:
A quick search on the internet reveals that Capital Whale has received many negative reviews and complaints from customers who claim to have lost money or been unable to withdraw their funds from the platform. Some customers also report that Capital Whale uses aggressive marketing tactics, such as cold calling, fake testimonials, and misleading promises of high returns. Many customers accuse Capital Whale of being a scam and warn others to stay away from it.
Products and Services:
Capital Whale claims to offer a variety of trading instruments, such as forex, CFDs, stocks, commodities, and cryptocurrencies. However, the website does not provide any details about the trading conditions, such as spreads, leverage, commissions, fees, or minimum deposits. The website also does not mention anything about the trading platform, software, or tools that Capital Whale provides to its clients. The website only features some generic information about the benefits of online trading and some educational materials.
Location:
Capital Whale does not disclose its location or contact information on its website. The only clue about its location is the registration of its parent company in St. Vincent and the Grenadines, a Caribbean island nation that is known for its lax financial regulations and lack of transparency. This means that Capital Whale is not subject to any oversight or supervision by any reputable authority and can operate with impunity.
Customer Service:
The customer service of Capital Whale is very poor and unresponsive. The only way to contact them is through a live chat feature on the website, which often does not work or takes a long time to reply. Many customers complain that they cannot reach anyone from Capital Whale when they have issues or questions about their accounts or transactions. Some customers also report that they are harassed by phone calls from Capital Whale representatives who pressure them to deposit more money or make more trades.
Is Your Money Safe in an Unregulated Company?
The answer is no. Investing with an unregulated company like Capital Whale is very risky and can result in losing all your money. Unregulated companies are not bound by any rules or standards that protect investors from fraud, manipulation, or abuse. They can also disappear with your money without any trace or recourse. Furthermore, unregulated companies do not segregate client funds from their funds, which means that they can use your money for their purposes or mix it with other clients’ money.
Defensive Measures Against Fraudulent Brokers:
If you are looking for a reliable and trustworthy online trading platform, you should avoid unregulated companies like Capital Whale and choose only regulated ones that have a license from a reputable authority. You should also do your research and check the background and reputation of any company you are interested in before signing up with them. You should also be wary of any offers that sound too good to be true, such as guaranteed profits, high returns, low risk, or free bonuses. You should also never invest more than you can afford to lose and always keep track of your transactions and account balance.
Conclusion:
Capital Whale is an unregulated online trading platform that has been warned by the AMF for operating without authorization in France. It has also received many negative reviews and complaints from customers who have lost money or been scammed by it. Capital Whale does not provide any information about its regulation, license, products, services, location, or customer service on its website. It also uses deceptive marketing techniques and aggressive sales tactics to lure unsuspecting investors into its trap. Capital Whale is a scam and should be avoided at all costs.
