After targeting decent Forex investors and never operating under proper regulatory oversight, this shabby company finally meets its end. If you try to access the growupcapital.com website now, you’ll only be notified that the domain was suspended, either because it was overused or the owner had run out of resources.
Whatever the cause for the shutdown, the Forex market won’t cry over one petty scammer vanishing. Read the rest of the story in our Growup Capitals review.
| Regulated by: | Unregulated Offshore Broker |
| Is This Company Safe? | No, this company is not a licensed entity, and therefore, they’re not safe! |
| Known Websites: | growupcapitals.com (inactive) |
| Have Warnings from: | N/A |
| Registered in: | Saint Vincent and the Grenadines |
| Operating since: | 2022 |
| Trading Platforms: | Web terminal |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $50 |
| Deposit Bonus: | Up to 30% |
| Trading Assets: | Forex, Commodities, Shares, Metals, Crypto, Stocks |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Since these fraudsters decided to make a run for it, feel free to consult our legal experts for help with withdrawals. |
Another Parasite From a Tax Haven
While the website was still in its prime and fully functional, the fraudsters running it claimed to be legally incorporated in SVG, and supervised by SVGFSA, local jurisdictional regulator. However, after taking a look at the register, not only did we determine the Growup Capitals scam was never licensed, but the entity doesn’t even supervise Forex dealers in the area.
That’s why we went on looking in other registers of regulated companies, like the ones kept by the prominent regulators – FCA, CySEC, BaFin, FINMA and ASIC. The Growup Capitals broker appeared in none.
Therefore, it’s only rational to conclude that the conduct was completely illicit, with fraudulent tendencies defining their line of work, just like in the case of Bitfinance – a notorious con, blacklisted by many.
Victimizing Developed Nations
Ever since its inception, back in 2022, the website was mostly focused on robbing Forex beginners from the following countries:
- Spain
- United States
- United Kingdom
However, the fact that the campaign tried to expand its reach to the global markets shows that no one is really safe from fraudulent works of their boiler room agents and social propaganda. Instagram and Youtube was their main focus, although it seems like it didn’t quite work the way cons imagined.
The few followers these pages had and absence of any Growup Capitals reviews proves that. Nonetheless, if you previously invested with this shady platform and can’t withdraw your funds now, contact our recovery experts promptly.
Characteristic Trading Setup
Depending on the account type chosen after creating a Growup Capitals login, users can access different trading configurations. In that sense, the starting leverage is defaultly set at 1:50, while the maximum unlocked reaches 1:500.
Starting spreads on Forex majors are quite high in comparison to the competition – 3 pips for the cheapest account option, while the value decreases with more expensive packages down to 1.5 pips. Trading commission is allegedly only charged for the Skilled account – 7$ per turn.
Bonuses Entice Victims
The reason why cash incentives have been banned in strictly regulated areas is the common abuse by the brokerage platforms. Different packages on this site bring some bonuses like 50$ or up to 30%. These are allowed because no Growup Capitals regulation stands in the way.
The catch is that the legal docs do not reveal the withdrawal conditions, which is why trading volume requirements are often used as an excuse to block payouts.
Overall Useless Trading Tools
Starting from a shabby, unreliable web terminal to tricky trading conditions and bonuses, everything we found is simply not worth the investment. If you intend to make money on this online trading portal, you can be sure such endeavors are completely futile. The remainder of this review analyzes the elements of the offer.
Defunct Web Terminal
The Growup Capitals trading platform is nothing but a simplified web gadget that is completely unresponsive until a deposit is made. Even then, it’s highly questionable if this vaporware software performs up to expectations.
When compared to the super advanced and fully equipped MT5 and cTrader, for example, this inferior trading terminal falls behind on multiple levels. Its performance as a whole can be characterized as a failure.
Trading Markets
The Growup Capitals website listed the following tradable assets as available for buying and selling:
- Forex – EUR/USD, USD/CAD, USD/AUD
- Commodities – Sugar, Cotton, Oil
- Crypto – BTC, ETH, XRP
- Metals – Silver, Gold, Zinc
- Shares – Facebook, Amazon, Alibaba
- Indices – EU50, HK50, DE30
Packages Offer Nothing of Use
Allegedly tailored to meet the needs of every Forex investor out there, the following account types are given as investment options:
- Beginner – $50 + $50 bonus
- Bonus – $1.000 +30% bonus
- Expert – $500
- Skilled – $2.000
Needless to mention, the more you invest the higher the leverage and the tighter the alleged spreads are. Does it actually pay off? Of course not!
Scammers Won’t Let You Withdraw
Problematic withdrawals are always the staple of these illicit firms. While some of them allow you to get a payout to some extent, functioning as so-called Ponzi schemes, they will never let you withdraw the entire amount.
Growup Capitals withdrawal is made difficult through a number of key factors, one of which is the lack of automatic transaction processing. It’s intentionally done to avoid involvement of banking institutions, and to make you rely on the boiler room agent for your money.
The firm does advertise several payment channels, such as bank transfers, car payments and crypto transfers, but unfortunately it was impossible to test these first hand. If you need help with recovery, contact our experts.
Nobody Answers the Phone
The entire purpose of customer support with the majority of these fraudsters is to solicit further purchase. They don’t care about the problems you’ve been encountering – more likely, they caused the issues on purpose. Support is allegedly reachable by phone and email, but the lines are as dead as the website itself.
Can I Recover My Money? Who Should I Trust?
The number of different con schemes has been increasing in recent years, and this broker is one of them. The website hosted by this hoax has been shut down, leaving the victims hanging.
Don’t worry, there is still hope of recovering the money. Financial swindlers don’t usually give up their hustle, they just change the name and keep going. Our service has ample experience in dealing with these sorts of cases. Book a free consultation with our experts and start fighting back – you can reach us 24/7 via the chat.
FAQ Section
What is Growup Capitals?
It is a dangerous fraudulent entity allegedly operating from an offshore nation of SVG.
Is Growup Capitals Legit?
No, the company is completely illegal, and does not suffice any of the mandatory regulatory conditions.
How to Get Money Back From a Financial Fraud?
Contact our recovery experts! We are available 24/7, and our first consultation is free of charge.
Source:
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