Stecapital Review: Stecapital.cc a Suspicious Broker
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Stecapital Review
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Fund Safety
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Regulation
Summary
With this broker, you can trade commodities, currencies, stocks, cryptocurrencies, and indices. They claim to be a global company whose values include transparency, integrity, and professionalism. Although this broker makes these claims, they are false. The firm does not understand the first thing about being transparent.
With Stecapital, you are promised trading success, cutting-edge technology, diverse assets, and quality customer service. However, do not believe this broker. They will say anything to get traders’ attention because they want their money. Many scam brokers use convincing words to appeal to their audience. Do not trust such brokers but instead, invest with honest and transparent crypto brokers.
The forex trading industry is facing a growing threat from scammers. These unscrupulous individuals use sophisticated tactics, such as creating fake websites, falsifying trading records, or posing as reputable companies. Furthermore, they exploit the lack of regulatory oversight in the forex trading industry, particularly in offshore jurisdictions.
About Stecapital.cc
With this broker, you can trade commodities, currencies, stocks, cryptocurrencies, and indices. They claim to be a global company whose values include transparency, integrity, and professionalism. Although this broker makes these claims, they are false. The firm does not understand the first thing about being transparent.
From whois.com, we established that the broker opened their domain on 14th March 2024. Thus, if they were as transparent as they claim, they would have explained their inception date and how long they have been in the business. As we found out, they had been working for about two months at the time of writing this review. It’s impossible for them to have expanded into other parts of the world within such a short time. This broker is shady and dishonest.
Founders and Team
We did not find any information about the founders or the current company employees. This was rather odd, given the firm’s claim about commitment to transparency. If indeed they were as transparent as they claim, they would have included their leaders on the website.
This is common for many established companies because it shows the firm is proud of its personnel. Scammers, however, don’t like revealing anyone affiliated with the company. Often, these people have a tarnished reputation, and the brokers don’t want to expose their shady practices.
Thus, they choose to remain anonymous. Many of the scam forex brokers also operate shell companies. Thus, customers and law enforcers have a hard time tracking them down in case they lose their money under mysterious circumstances.
Contact Details
From the contact information the broker gave, the firm is located in London, UK. They have also included an email and phone number where one can call in case they encounter a challenge. All this, however, does not make the broker legit. Any firm can give contact details. However, it’s their reliability which counts.
Stecapital Regulation Status
Forex trading brokers’ regulation ensures fair and transparent trading practices. It is not merely a bureaucratic formality. It serves as a crucial safeguard against fraud, manipulation, and abuse in the forex market. Regulation assures traders that their investments are secure. The financial watchdogs also require brokers to maintain segregated accounts for client funds. This ensures that traders’ money is kept separate from the broker’s operational funds.
Working in the United Kingdom means that Stecapital should be under the Financial Conduct Authority (FCA). When we checked the FCA’s online registry, we did not find the broker’s name anywhere. This firm deals with cryptocurrencies. However, the FCA does not allow retail traders to trade crypto due to its risky and uncertain nature. Without regulation traders are at risk of market manipulation and fraud from brokers.
Trading Conditions
There are four types of accounts with Platinum being the most popular. The accounts have different parameters depending on the trader’s preferences. Two red flags we noticed from the accounts are the leverage and welcome bonus.
The FCA does not permit the high leverage of 1:200 offered in the Silver account. Also, the welcome bonus is a red flag because it shows the broker is employing this unethical tactic to lure traders.
Final Verdict
Stecapital is not a genuine broker. There are too many red flags associated with this broker that are hard to overlook. When trading, always ensure that the broker you are working with has the correct credentials and licensure.
Working with an unregulated broker is very dangerous because you can easily lose all your money. Avoid scammers and instead, trade with honest and trustworthy crypto brokers for the ultimate trading experience.
