LINQ Capital Review: Avoid this Shady Broker!
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LINQ Capital Review
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License
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Withdrawal of Funds
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Customer Reviews
Summary
An accessible broker can offer timely support. Although LINQ Capital has provided these details, it doesn’t mean they are legitimate. They may be using them to create a false illusion of legitimacy.
LINQ Capital is full of red flags. Although they market themselves as a gateway to trading success, this is nothing but hot air. Online forex trading has seen a significant rise in popularity, attracting millions of traders globally. Unfortunately, this surge in interest has been accompanied by a troubling increase in online scams. These fraudulent schemes exploit unsuspecting traders by promising high returns with minimal risk.
One major factor promoting this rise is the increased accessibility to the Internet. While this is a positive milestone, it also opens the door for scammers to reach a larger audience. The relative lack of regulation in forex markets compared to other financial markets further exacerbates the problem, providing fertile ground for scammers to operate with impunity. They lure victims with attractive trading conditions and bonuses, only to disappear once the victims deposit their funds.
About Linq-capital.net
According to the broker’s website, some of the instruments one can trade include currency pairs, cryptocurrency, CFDs on stocks, commodities, metals, and energies. When the capital reaches 25%, you get a margin call. The broker offers a referral program for its users, where traders earn rewards for inviting friends and family to the platform.
This is a red flag because it is a common tactic among scam brokers. Some brokers even sell trading signals, claiming they will guarantee profits. These signals, however, are often based on dubious analysis or fabricated data. Choose reputable crypto companies or genuine forex brokers to avoid the obvious loss of funds.
Founders and Team
Without knowing the company founders and current leaders, we could not establish their philosophy. The identity and track record of the founders often set the tone for the organization’s culture and values. Founders are usually the visionaries behind a company’s mission and strategic direction. Their previous experiences, successes, and failures can offer a glimpse into the firm’s potential trajectory.
In finance and investments, knowing the founders and current leaders is particularly crucial. Many fraudulent schemes and scams are perpetrated by individuals who hide behind anonymity or false identities. In the forex trading industry, scam brokers like LINQ Capital often conceal the identities of their leaders to avoid scrutiny and evade legal consequences.
LINQ Capital Contact Details
To reach the broker, you can write an email, call, or visit the broker’s office in New Kelly, Richardschester, United Kingdom. One of the most fundamental aspects of transparency is the availability of proper contact details for a forex broker. Having accurate and accessible contact information enhances the broker’s credibility.
Forex trading can be complex and fast-paced, and traders often need immediate assistance with their accounts, trading platforms, or market queries. An accessible broker can offer timely support. Although LINQ Capital has provided these details, it doesn’t mean they are legitimate. They may be using them to create a false illusion of legitimacy.
Regulation
Since the broker is based in the UK, they ought to be under the oversight of the Financial Conduct Authority (FCA). Before the FCA can grant a license, the broker needs to give a detailed business plan. This plan should outline the business model, target market, marketing strategies, and financial projections. It should also include the risk management strategies the broker will employ to protect client funds and ensure operational integrity.
The FCA requires forex brokers to demonstrate financial stability. This involves having sufficient initial capital to cover operational costs and potential liabilities. The specific capital requirements vary depending on the broker’s business model, but generally, brokers must have a minimum capital base to ensure they can meet their obligations.
Despite what they may claim, LINQ Capital has not met any of the above requirements. We even checked the FCA’s online database and didn’t find the broker’s name anywhere. What’s more disturbing is that the Spanish Comisión Nacional del Mercado de Valores (CNMV) has flagged this dubious broker.
LINQ Capital Trading Conditions
The broker offers four types of accounts. The lowest minimum deposit is $250, and the leverage is 1:1000. Spreads are as low as zero for the Pro account. However, the high leverage proves the broker is not under the FCA because it is above the recommended one of 1:30.
Final Verdict
LINQ Capital is a dishonest forex broker. As a trader, you must avoid this shady broker at all costs. Instead trade only with genuine and trustworthy crypto brokers if you want a seamless trading experience.
