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InterCapital Review: Another Unregulated Fraudulent Broker
Table of Content
InterCapital broker is very fresh on the market. With registration in 2021 as Interco Holdings Limited, they started offering Forex and CFD trading services. However, with their poor offer, unreliable trading platform and weak security they didn’t earn credit from traders. As an offshore broker registered in the Commonwealth of Dominica, they instantly become suspicious.
All flaws, irregularities and potential problems with this broker you can find in our InterCapital review.
How Are You Protected at InterCapital? Broker Regulation
The problem with offshore companies is that they are often loosely regulated. But even more often not regulated at all. This is the case with InterCapital trading company. The FSU of Dominica never had them in their register. Not to mention Tier 1 regulators like FCA, ASIC, CONSOB or BaFin.
With this in mind, you know already that your funds are at risk. You don’t have any relevant protection or guarantee. For example, with the FCA there is no chance that you don’t get your money. But even if it happens, you have a compensation of up to 85.000 GBP.
This is regarding the worst-case scenario. However, tier 1 regulated brokers have some more safety measures. For instance, negative balance protection and guaranteed stop-loss. This is exactly what this broker is missing. Therefore, traders are vulnerable and often misled into a bogus scam.
Overview of InterCapital Trading Platform
Another key point is the functionality of the trading platform. InterCapital scam broker didn’t bother investing much in their platform. Instead of trusted options like Meta Trader or cTrader, they have a proprietary platform.
This basic web trader only provides you with essential trading tools. Options like scalping, automated trading, social and copy trading are missing. If you still didn’t change your mind about this broker, this will do so. Moreover, their mobile app is only available for Android users.
Generally speaking, the main issue with web traders is their reliability. Scam brokers like InterCapital often manipulate such platforms. They access the information through the back end and make you believe in something that doesn’t exist. That’s how traders get tricked to deposit money with non-existent urgency. Be wise and do your research before investing any money.
Trading Account Provided by InterCapital
InterCapital investment scam works on a simple principle. It’s to get as much as they can as fast as they can. Another downside of this broker is the lack of Islamic and a demo account. Traders don’t have any risk-free option to test their platform. That’s why they have a huge minimum deposit requirement. Anyway, those accounts are:
- Standard $2.500
- Silver $5.000
- Gold $10.000
- VIP $50.000
- PRO On request
Important to realize is that all these accounts have the leverage of up to 1:400. So, if you are coming from the EEA zone know that many rules are violated. Even though the broker claims to have spreads from 0.1 pips, that is another misleading fact. All benefits from these accounts come from educational and support features. Since they don’t have license they are not authorized to provide any trading assistance.
Moreover, nobody with common sense should invest these shamelessly high amounts of money here. The broker is clearly not regulated and funds are not protected. Secondly, what tells you that they are an absolute investment scam is lowering the minimum deposit. Once they realize that you are not willing to risk $2.500 with an anonymous broker, they will give you an offer for a standard of $250.
Deposit and Withdrawal Process
If you decided, in the end, to deposit money here you have two options. InterCapital broker accepts:
- Card transactions – Visa/Master card
- Cryptocurrency payments – Bitcoin, Ethereum, Tether and more
The more favorable option is always a debit/credit card. As we can see in the InterCapital broker reviews many traders had similar issues. Mainly with withdrawal procedures. That’s why it’s important to know that in the first 18 months of the transaction, you can file a chargeback request.
InterCapital scam broker has professionally hidden its withdrawal policy. In fact, what they claim was expected from an offshore scam. They have the right to prevent any withdrawal from happening if they believe that you are violating AML laws. Therefore, you will be required to provide a vast of documents to prove everything.
Are You a Victim of InterCapital? Chargeback Is The Answer!
In general, you don’t have many choices with this broker. They are completely mysterious. Since they are not regulated, there are a couple of options. First, share your story here with us. That way we can help other traders find more personal comments about experiences. Secondly, since you can’t reach out to any authority, you need to find a solution elsewhere.
Luckily our fund recovery team has all the necessary knowledge and tools to recover your money. Since InterCapital scam broker uses debit and credit cards you can get a chargeback. Unfortunately, there is a time limit on that process. However, if you sent crypto to these scammers, the situation complicates a bit.
But don’t lose hope. Because our team has access to software that very few have. It’s a CipherTrace software and allows you to trace crypto transactions. That’s the easy part. The best option is to let the professionals do what they are best at. Book your free consultation already today!
- Offshore broker without regulation.
- Unreliable web-based trading platform.
- Very high leverage.
- Broker has a very bad reputation already.
- No demo account.
FAQs About InterCapital Broker
Is InterCapital a Regulated Broker?
No. They don’t have any kind of regulations or authorization to provide trading services.
Does InterCapital Offer A Demo Account?
No. According to the brokers' website, we can see that they don’t offer a demo account.
What Is The Minimum Deposit for InterCapital?
The minimum deposit to start is $250. To open a standard account you need $2.500.