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If you are looking for a reliable and trustworthy online broker to trade forex, you may want to avoid Fincloud Capital. This broker claims to be an international company with over 2.5 million clients, but in reality, it is an offshore scam that has been blacklisted by the Italian regulator CONSOB.
In this review, we will expose the truth about Fincloud Capital and why you should stay away from it.
What is Fincloud Capital?
Fincloud Capital is a forex broker that offers trading on various currency pairs, commodities, indices, and cryptocurrencies. The broker says to provide a cutting-edge trading platform, competitive spreads, and fast execution.
However, there is no evidence that Fincloud Capital is a legitimate broker. The website does not provide any information about the company’s background, regulation, or license. The only thing we know is that Fincloud Capital is owned by Surreptitious Group LLC, a company registered in St. Vincent and the Grenadines, a notorious offshore jurisdiction where forex brokers are not regulated or supervised.
Why is Fincloud Capital a scam?
There are many reasons why Fincloud Capital is a scam and not a trustworthy broker. Here are some of the red flags we found:
- Fincloud Capital is blacklisted by CONSOB. The Italian financial regulator has issued a warning against Fincloud Capital, stating that it is not authorized to offer investment services in Italy or to Italian residents. This means that Fincloud Capital is operating illegally and without any oversight or protection for its clients.
- Fincloud Capital offers trading bonuses with strings attached. The broker offers attractive bonuses to lure new clients, but these bonuses come with unrealistic and unfair conditions. For example, the broker requires a minimum trading volume of 30 times the bonus amount before allowing any withdrawals. This means that if you accept a $100 bonus, you will have to trade $3,000 before you can request a withdrawal. This is a common tactic used by scammers to prevent clients from accessing their funds.
- Fincloud Capital has negative reviews and complaints online. Many clients have reported that Fincloud Capital is a scam and that they have lost money with this broker. Some of the common complaints include difficulty in withdrawing funds, manipulation of prices and spreads, aggressive and misleading marketing, and poor customer service.
Conclusion: Fincloud Capital is a scam and should be avoided
Fincloud Capital is not a reliable or trustworthy broker. It is an offshore scam that has been blacklisted by the Italian regulator CONSOB. The broker offers trading bonuses with strings attached, has negative reviews and complaints online, and does not provide any information about its regulation or license.
We advise you to stay away from Fincloud Capital and to choose a regulated and reputable broker instead. You can find some of the best forex brokers on our website, which are licensed by respected authorities such as the FCA in the UK, CySEC in Cyprus, or ASIC in Australia.
What to Do If You’ve Lost Money with Fincloud Capital?
If you have been scammed by Fincloud Capital or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.