Bacco Capital Review – Shady New Scheme Targets Beginners

Investing with unregulated Forex providers means swimming in dangerous waters. Not only will you quickly become a predator’s target, but you’ll also be continually bothered by the same perpetrators until you go bankrupt. 

So read the following Bacco Capital review carefully, so you can successfully avoid the fraudsters and learn what to do in order to recover funds lost to online trading sham.

Ghost Company

The Bacco Capital scam operates without being supervised by any legal body. Since the website leaves customers oblivious of the company location and license, we started exploring the legal documents to find hints. Terms and Conditions say that the legal jurisdiction belongs to Poland, but no entry under that name exists in the KNF database. 

Additionally, the company cannot be found in any of the Tier 1 registers, including FCA, BaFin, CySEC, NFA or ASIC. That effectively rebukes all the false promises the cons make about fund protection, compensation funds and negative balance insurance. Please make sure you stay away from service providers without a license. 

How Financial Scams Work

The baccocapital.pro con was put online in July 2023, which you may check in the WhoIs database. As the Bacco Capital investment firm doesn’t have any online presence bar the website itself, it relies on the boiler room agents to attract new clients.

These agents pester people by phone, in an attempt to persuade them into investing. They are most active in these nations:

• France
• Romania
• Canada
• Poland

Many fraudulent schemes use the same strategy, AlfaBTC being another example. As the victims later realize, the trading is completely fictitious, and their money is stolen. No matter how well the scammers hide, however, recovery is still possible. Book a free consultation with our experts to learn more.

Sudden, Undefined And Hidden Fees

Knowing how much certain services cost is one of the major elements that affect a client’s decision about whether or not they wish to invest with a certain firm. In this case, the Forex dealer clearly declares that there’s a variety of fees, like the processing fee, trading fee, conversion commission, account maintenance tax and a range of other charges. 

However, their exact amount is not revealed in any of the cases. All of these are deducted straight from your account balance until it reaches zero.

As for the trading parameters and costs, only a maximum leverage of 1:200 is revealed, everything else is wrapped in a veil of secrets.

High Trading Volume Requirements

Bonuses are one of the numerous forms of fraudulent methods employed to prevent users from withdrawing cash. This online trading brand awards their clients with bonus amounts, but to their sole discretion. The catch with these rewards is that they stop all payouts until traders reach the required trading volume, which is calculated as (bonus amount + Deposit) x25.

Lackluster Trading Features

There’s not much to look at when it comes to trading features. Although the fraudsters claim to operate an award-winning platform, you’ll be hard pressed to find it in the first place. The diversity of instruments is below the current industry average, and the account types don’t include a demo for risk-free testing.

Unreliable Trading Platform

The main Bacco Capital trading platform is a web oriented app that runs directly from any web browser, including mobile devices.

Although this particular web trader uses market information imported from TradingView, the data has been tampered with. Many different instruments have identical price graphs, which is mathematically impossible in the real world.

Other cons like Aiko Markets use the same strategy to have better control over their clients’ funds.

Offered Financial Instruments

Trading asset selection contains some less common markets, including the recently crashed NFTs. Although individual instruments are numerous as well, they fall short when compared to the selection a regulated company would offer.

Here’s the overview of asset groups:

• Forex – EUR/USD, GBP/USD, GBP/JPY, NZD/CHF
• Cryptocurrencies – BTC, ETH, XRP, ADA
• Shares – AT&T, Caterpillar, Visa, Cisco
• Commodities – Corn, Wheat, Coffee, Natural Gas, Brent
• Indices – JP225, HK50, US100, USTEC
• NFTs – Moonbirdz, Azuki, Bored Ape, Beanz

Incredibly Pricey Accounts

Even the cheapest Bacco Capital account type is outrageously costly when compared to what the legitimate companies have to offer.

Here’s an overview of minimum deposits:

• Standard – $500
• Silver – $1,000
• Gold – $10,000
• Platinum – $100,000
• Diamond – $500,000

The con artists justify these hefty prices by allegedly offering different benefits, like higher leverage and larger number of active trades on more costly accounts.

Additional Troubles With Payouts

Besides the absurd fees and high costs, as well as trading volume requirements, the fraudsters have more tricks up their sleeve to make sure their victims never get to withdraw a single cent. 

Legal docs will convince you that account funding and payouts are available via a variety of financial channels, but the truth is quite different. From the user area, it can be determined that only crypto transactions are allowed. We’ve discussed numerous times how hardly trackable and almost irreversible these transfers are, so make sure you avoid them whenever you’re able.

No Customer Service

There is no dedicated help page, and the FAQs about the company or any issues are scattered about on different portions of the site. People who are just visiting the platform can only contact the company through a contact form, as there is no valid phone number.

Users who have an account can only request a callback, which is supposed to happen in under 30 minutes at any time of a day, but we never received ours.

Stand Up To The Scammers!

The longer you wait, the less chance there is to recover your investment lost to crypto criminals. So please, if you’ve been a victim of any form of financial scam, do not hesitate to ask for help in getting your capital back. 

Besides reporting the swindlers to the authorities, we can also aid you in issuing a chargeback or tracking your crypto transaction. Contact our legal experts and we’ll arrange your free consultation whenever you like.

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