Despite a somewhat misleading name, Crypto1Capital was providing trading in Forex and CFD. We say “was” since the domain is inactive, implying that the broker vanished.
While we’re unsure whether this is something temporary or if the owners ran away with the client’s funds, we want you to have all the facts. Furthermore, we want you to be able to recognize the pattern since fraudulent brokers often reappear under a brand-new name.
Read this detailed Crypto1Capital review and learn everything.
On top of that, we seriously recommend you not to invest in the fake brokers MorganCapFX, Robexcoin, and Primeinv. Do not trade with these unlicensed brokers if you want to save your money!
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | crypto1capital.com |
| Blacklisted as a Scam by: | FINMA, CONSOB, FSMA |
| Owned by: | N/A |
| Headquarters Country: | Switzerland (allegedly) |
| Foundation year: | 2022 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | 250 USD |
| Cryptocurrencies: | Available – BTC, LTC, USDT |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | No |
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Is Crypto1Capital Сrypto Trading Company Legal?
Crypto1Capital is a virtually anonymous trading services provider. The brand has added an address in Switzerland, implying that it should be under FINMA regulation.
Upon checking the databases of FINMA and other major license providers, such as BaFin, CONSOB, and FSMA, we found a whole lot of warnings. Instead of being licensed, this firm has been banned for fraudulent activities.
The domain was registered in January 2022 and has already disappeared. We assume it’s due to many warnings. It’s now easy for clients to avoid being scammed by checking the regulatory blacklist.
Reasons Not to Trust an Unlicensed Broker
If a company is licensed, especially by Tier1 authorities, it has to follow firm rules. These brokers must keep clients’ funds in segregated accounts, respect leverage limits, and provide negative balance protection.
On the other hand, fraudsters like Crypto1Capital have no obligations. As you can see in this example, they can vanish at any time, and there are no financial authorities that would assist customers in being reimbursed.
Is Crypto1Capital a Trustable Broker?
Crypto1Capital is a crypto trading broker that vanished. After defrauding numerous customers, they have shut down their domain. The firm has been blacklisted in Switzerland and Belgium.
Warnings From Financial Regulators
The Crypto1Capital broker was blacklisted in Switzerland upon registering a false Swiss address. According to FINMA, there is no such brokerage in its commercial register.
The Italian regulator, CONSOB, later republished the same warning.
Belgian financial authority FSMA issued its own warning regarding crypto1capital.com. According to it, this domain cannot be trusted.
What Do Traders Think Of Crypto1Capital?
Instead of us talking in the name of victims, we’ll show you just one of many negative Crypto1Capital reviews.
“They’re a dirty gang, they pay people who give five star reviews here, and they use their friends to do it. They use fake names and false data and do not have any real address or license, just getting the money they steal it and they show open losing deals on your account to make you believe that they are trading money and losing it, I will never let them get away with their actions and everyone who helps them i have informed the police of that And now I’m working with my lawyer to collect more data about them, and I’m going to give it to the police as well. I ask all people who have been defrauded to file a complaint against them also with the police so that other people are not defrauded.”
– Trustpilot Customer
What Platform Does Crypto1Capital Provide?
While it’s not MetaTrader, Crypto1Capital’s trading platform was highly functional. Customers were offered a large number of TAs, including pending orders, Stop Loss, Take Profit, and plenty of technical indicators. If you wanted to apply any advanced strategies, it would be perfectly doable with this WebTrader.
However, a solid platform doesn’t make a good broker. It’s certainly a part of it, but a small one. If the firm is unlicensed, it can vanish with your funds, manipulate trading software, and more. And that’s precisely what Crypto1Capital did.
Crypto1Capital Accounts Overview
The company had four account types on offer.
- Silver – $250
- Gold – $5,000
- Platinum – $10,000
- VIP – $50,000
Besides the initial deposit, accounts differ in available trading tools and assistance.
Is There Access to a Demo Account?
The broker required paying an initial deposit immediately. Therefore, using a risk-free Demo was not an option.
Usually, scam brokers will pressure you to deposit on the spot. Enabling a Demo account is a waste of time and gives customers a chance to give up on a company.
Crypto1Capital – Countries Of Service
According to our research, the majority of Crypto1Capital scam victims come from:
- Finland
- Switzerland
- Netherlands
- Sweden
- Germany
- Estonia
Also remember the names of the Winvestock, Go Markets and Battle Trade trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Crypto1Capital Range of Trading Markets
Despite its name, Crypto1Capital allowed access to all five major markets, including:
- Forex – EUR/USD, GBP/NOK, USD/ZAR
- Commodities – gold, corn, natural gas
- Indices – FTSE100, DAX30, S&P500
- Shares – Amazon, Netflix, Google
- Cryptocurrencies – ADA, BNB, USDC.
What Is Known About Crypto1Capital’s Trading Conditions?
Crypto1Capital’s trading conditions were quite solid. The spread was low, while the leverage was fixed at 1:1.
It’s a bit odd for a trading firm not to give customers any leverage, despite the regulatory cap being up to 1:50. However, it’s undoubtedly better than enabling too much leverage and exposing funds to risk.
Crypto1Capital Minimum Deposit, Withdrawal Terms, and Fees
This trading brokerage required $250 as an initial deposit. Comparing it to legitimate firms with Micro accounts worth $10, it is rather high.
Withdrawals are limited by a questionable bonus policy demanding clients reach an impossible rollover before being eligible for a payout request.
Methods of Making a Deposit
The only available payment method seems to be a debit/credit card. However, transactions were processed through 2 payment software we’ve never heard of, guaranteeing issues.
Note that both card companies allow chargeback disputes within up to 540 days. Thus, you can reach out and request your money back.
Scammed by Crypto1Capital Broker? – Let Us Hear Your Story
If you or someone close to you has been scammed by a Crypto1Capital broker, let us know. Our chargeback experts will evaluate your case during a free consultation. We may assist you in getting your hard-earned money back!
But What Is A Chargeback?
This is a way for your bank to reverse the transaction. If you have any questions, contact us via online chat to request a consultation. We’ll be happy to help you to recover your money!
What Is Crypto1Capital?
Crypto1Capital was an online Forex and CFD trading provider that shut down its domain.
Is Crypto1Capital a Scam Broker?
The broker was a scam banned in Italy, Belgium, and Switzerland.
Is Crypto1Capital Available in the United States or the UK?
Crypto1Capital was active in the UK but didn’t operate in the US.
Does Crypto1Capital Offer a Demo Account?
The firm didn’t offer a risk-free Demo accounts, only Live types.
Source:
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