GrowthCapAssets presents itself as a licensed and authorized firm that provides financial advice, forex and cryptocurrency trading, and access to other financial markets. These claims, however, do not hold up under investigation. As far as we know, GrowthCapAssets is an anonymous online brokerage firm with neither the legal nor technical capacity to provide any of the items or solutions it claims. If you put your trust in GrowthCapAssets, you will not receive the high returns promised, but you’ll be scammed. Read this GrowthCapAsset to learn more red flags.
GrowthCapAssets claims to be headquartered in London, one of the world’s most important financial centers. As far as I can tell, this alleged broker does not have the identity of its legal owner or operator listed. On the website, the all-too-brief Terms of Service, and even the certificate of incorporation are not mentioned.
A corporation must be registered by the FCA in order to provide financial products and services in the United Kingdom. The lack of a corporation and registration number is enough to indicate that no such license exists. The regulator’s database contains no information about ‘GrowthCap Assets’ or any other variants of the name.
GrowthCapAssets also contends to be a part of the Financial Commission that also serves as an independent dispute settlement agency. We discovered a warning on the organization’s website indicating the GrowthCapAssets are in fact scam artists:
You should never entrust your funds to such anonymous websites that are full of incorrect and misleading information. Rather, you can contact one of the many firms that are regulated by reputable regulatory authorities such as Cyprus-based CySEC or FCA in the United Kingdom. You will have a number of assurances as a client, such as negative balance protection and protection for your money if the brokerage goes bankrupt. Transaction reporting is one of the main elements included in UK and EU regulations to increase investors ‘ confidence and enhance market integrity and openness. Authorized brokers must also keep their administrative funds separate from their customers’ funds.
GrowthCapAssets not only lacks a license but also lacks the technical expertise to provide forex and other types of trading. The trading platform is not even mentioned on the website. After creating an account, you do not have access to such programs.
Customers can choose from a variety of trading tools, including desktop, phone applications, and web-based platforms, from legitimate brokers. MT 4 and MT5 are the most extensively utilized platforms in the market. These platforms have become industry standards because they include a wide range of capabilities, such as a variety of configuration choices, different account options, custom script design and implementation for algorithmic trading, and trading signals.
Authentic brokers provide a number of trading account kinds, each with its own set of terms & conditions tailored to traders’ needs and tastes. Basic forex trading factors such as leverage, spreads, order processing method, fees, and so on are not even mentioned on the GrowthCapAssets website.
In place of traditional trading types of accounts, crypto investment plans are being offered that promise returns of 3percent daily or 75 percent monthly. GrowthCapAssets is the most basic sort of financial scam artist, convincing clients that they will handle all of the challenging aspects of trading for them. In reality, they simply take the funds and flee.
Deposits and Withdrawals
We weren’t surprised to learn that a Bitcoin wallet is the only option to fund GrowthCap Assets. Financial scammers choose cryptocurrency as a payment method since it provides a high level of secrecy and, more significantly, does not enable refunds. While some legal brokers take Bitcoin, they do that alongside other secure payment options like credit/debit cards, bank transfers, and famous e like Skrill, Neteller, and iDeal.
Due to a lack of sufficient legal paperwork, it’s unknown what hidden costs or other traps the scammers may have set. Knowing the above-mentioned red flags avoid this scam broker.