Caution Investors Capitalwise – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.
Overview:
Capitalwise is a website that claims to be a leading online trading platform for forex and CFDs. The company says it offers access to over 200 instruments, including currencies, commodities, indices, stocks, and cryptocurrencies. It also claims to provide advanced trading tools, educational resources, and professional customer support.
However, Capitalwise is not registered or authorized to operate in Ontario or any other jurisdiction. The OSC has issued an alert to warn investors that Capitalwise is engaging in activities that may pose a risk to investors. The OSC advises investors to exercise caution when dealing with Capitalwise or any other unauthorized entity.
Regulation and Compliance:
Regulation and compliance are important factors to consider when choosing a broker. A regulated broker must follow the rules and standards set by the relevant authorities, such as the OSC in Ontario. A regulated broker must also keep client funds in segregated accounts, provide fair and transparent trading conditions, and protect client data and privacy.
Capitalwise is not regulated or compliant with any authority. The company does not disclose any information about its legal status, ownership, or location. It also does not provide any details about its trading conditions, fees, or risks. Capitalwise is operating illegally and may be involved in fraudulent or scam activities.
Customer Reviews:
Customer reviews can help you evaluate the reputation and performance of a broker. A reputable broker should have positive feedback from satisfied clients who have used its services. A reputable broker should also address any complaints or issues raised by its clients in a timely and professional manner.
Capitalwise does not have any customer reviews on its website or any other platform. This suggests that the company has either no clients or only unhappy clients who have lost money or been scammed by the company. Capitalwise does not respond to any queries or complaints from its clients or the public.
Products and Services:
Products and services are the core offerings of a broker. A reliable broker should offer a variety of products and services that suit the needs and preferences of different traders. A reliable broker should also provide clear and accurate information about its products and services, such as the features, benefits, and risks.
Capitalwise claims to offer forex and CFD trading on over 200 instruments, but it does not provide any specifics about its products and services. The company does not disclose the types, specifications, or prices of its instruments. It also does not explain how its trading platform works, what tools it offers, or what educational resources it provides.
Location:
Location is another factor to consider when choosing a broker. A trustworthy broker should have a physical address and contact details that can be verified by its clients and regulators. A trustworthy broker should also operate in jurisdictions where it is authorized and supervised by the relevant authorities.
Capitalwise does not have a physical address or contact details on its website or anywhere else. The company does not reveal where it is based or where it operates. It also does not have any licenses or registrations from any regulators or agencies. Capitalwise is hiding its identity and location from its clients and regulators.
Customer Service:
Customer service is an essential aspect of a broker’s relationship with its clients. A dependable broker should have a dedicated and professional customer service team that can assist its clients with any questions, issues, or requests. A dependable broker should also have multiple channels of communication, such as phone, email, chat, or social media.
Capitalwise does not have a customer service team or any channels of communication on its website or anywhere else. The company does not provide any support or assistance to its clients or potential clients. It also does not respond to any inquiries or feedback from its clients or the public.
Is Your Money Safe in an unregulated company?
The answer is no. Your money is not safe in an unregulated company like Capitalwise. An unregulated company can do whatever it wants with your money without any oversight or accountability. An unregulated company can manipulate the market, charge hidden fees, refuse withdrawals, or disappear with your money.
There is no guarantee that you will get your money back if you invest with an unregulated company like Capitalwise. There is also no compensation scheme or insurance policy that can cover your losses if the company goes bankrupt or gets shut down by the authorities.
Defensive Measures Against Fraudulent Brokers:
If you want to protect yourself from fraudulent brokers like Capitalwise, you should take some defensive measures before investing your money with any broker. Here are some tips:
– Do your research: Check the background and reputation of the broker you are interested in. Look for customer reviews, testimonials, ratings, awards, etc.
– Verify the regulation: Check if the broker is registered or authorized by any reputable regulator, such as the OSC in Ontario. Look for the license number, address, and contact details of the regulator.
– Compare the trading conditions: Compare the products, services, fees, spreads, leverage, etc. of different brokers. Look for clear and transparent information and avoid unrealistic or suspicious offers.
– Test the platform: Try out the broker’s trading platform and tools with a demo account or a small deposit. Look for user-friendly, secure, and reliable features and functions.
– Withdraw your money: Test the broker’s withdrawal process and speed. Look for easy, fast, and low-cost methods and avoid delays, restrictions, or charges.
Conclusion:
Capitalwise is an unauthorized entity that claims to offer forex and CFD trading services. The OSC has issued an alert to warn investors about this company. Capitalwise is not regulated or compliant with any authority. It does not disclose any information about its legal status, ownership, location, products, services, fees, or risks. It does not have any customer reviews or support. It may be involved in fraudulent or scam activities.
You should avoid investing your money with Capitalwise or any other unauthorized entity. You should only deal with regulated and reputable brokers that can provide you with safe, fair, and transparent trading conditions. You should also take some defensive measures to protect yourself from fraudulent brokers.
