Stecapital Review: Stecapital.com a Brutal Scheme
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Stecapital Review
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Fund Safety
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Customer Support
Summary
Stecapital is a scam broker. This shady entity thrives on deceitful schemes to trick unsuspecting forex traders. While trading is inherently risky,
With this broker, you can trade on what they claim is the best CFD platform in Europe. However, that’s not the reality. This broker is far from what it presents itself to be—it’s a scam mainly targeting European nations. Despite proclaiming to be the best globally, they haven’t provided any evidence to support these bold claims.
The internet has created numerous online work opportunities, but scammers have capitalized on this. These fraudulent brokers promise unrealistically high returns for minimal investments. In the forex market, there is no easy money, not matter what scammers promise. To avoid scams, trade with transparent and trustworthy crypto brokers only.
About Stecapital.com
You can trade currencies, precious metals, and indices with Stecapital. They offer three different accounts, each with unique parameters. One notable claim by the broker is that it was founded in 2015 and began operating in the Russian-speaking market in 2017.
However, when we checked Whois.com, we found a different story. The broker registered their domain on 9th March 2023, contradicting the claim of being operational since 2017. This dishonesty is a red flag, indicating the broker is unreliable for forex trading.
Founders and Team
The broker claims that their CEO is David Gorman, a supposedly famous entrepreneur in certain circles. However, our research did not associate the name with forex trading, and there was no photograph of this individual. It’s possible that this is a made-up name, which wouldn’t be surprising given the broker’s shady nature.
The broker also fails to provide more details about its employees, which is suspicious. A transparent broker would offer more information about its team. However, to avoid scrutiny, Stecapital has omitted critical details about their current team.
Contact Details
While the broker has an email address, physical address, and phone number, this does not guarantee legitimacy. These contact details could be fake and misleading. Despite indicating they are based in London, there is no specific information about the street or room number.
The lack of crucial details could make it difficult for authorities to reach the brokerage firm’s offices. A transparent broker should be open about their exact location. Furthermore, they may take too long to respond once contacted.
Stecapital Regulation Status
Since it is supposedly based in the UK, the broker should be under the regulatory oversight of the Financial Conduct Authority (FCA). However, a check of the financial watchdog’s online registry did not yield the broker’s name, indicating they operate without a license.
On their Terms and Conditions, the broker claims to operate under the laws of Vanuatu, making them an offshore broker. This contradicts the claim of being London-based. Additionally, the financial authorities in Russia have flagged Stecapital as an unauthorized forex broker and warned against trading with them.
Stecapital Trading Conditions
Stecapital offers a spread of 0.9 pips and leverage of 500:1. While the spread is tight, which is positive, the high leverage is dangerous for traders. Such high leverage may tempt traders to increase lot sizes, potentially wiping out their entire account.
The minimum deposit required is $1000, which is too high, especially for beginner traders. There are many licensed brokers where traders can start with a deposit of $5. A good broker should cater to people with little capital. Most scam brokers demand high initial capital and only allow transactions through cryptocurrencies due to their anonymity and irreversibility.
Final Verdict
Stecapital is a scam broker. This shady entity thrives on deceitful schemes to trick unsuspecting forex traders. While trading is inherently risky, trading with an unlicensed broker is even riskier, as you may not be able to recover your funds if lost.
To stay safe, trade only with honest and trustworthy crypto brokers. Regulated firms will ensure your money is safe, and you won’t have to worry about losing it through unscrupulous means.
