Table of Content
Red Finance Capital Review – Red Flags That This Broker Is a Scam
Table of Content
Red Finance Capital Review, This broker belongs to Shenanigans Consulting Ltd based in St. Vincent and Grenadines. An offshore country that is a haven for many scamming companies. That’s exactly why the SVG regulation doesn’t exist. They simply dissociated themselves from such actions. However, a broker that is operating outside of SVG should have a license in the country where they provide services.
This one only got warnings from some most important regulators in the world – FCA. Besides them, CONSOB, the Italian regulator issued a warning as well against this broker.
For freshmen, since this scam broker exists only since 2022 they already got those achievements that will get them out of business very quickly. On top of all, this broker doesn’t provide any contact information. You don’t have a phone number that you can reach. Red flags all over the place and honestly we would never trust our money to broker like this.
|Headquarters||St. Vincent and Grenadines|
|Review Rating||1.6 on Trustpilot|
|Broker Type||Non-regulated scam broker|
|Platforms||Web-based trading platform|
Regulation of the Red Finance Capital and Fund Security
is not in the vocabulary of people that work for Red Finance Capital. They don’t have any regulations, therefore clients don’t have any protection. We checked registers of the most trusted Tier 1 regulators like FCA, BaFin, CONSOB, and ASIC. None of them have records of Red Finance Capital.
If you take a look at any Red Finance Capital broker review, you will find only a mention of a scam. Only on Trustpilot did 90% of people got scammed.
Since they are doing investment scams in countries like Germany, the UK, Canada, and Spain they should comply as well with ESMA rules. Their leverage is way higher than the allowed one which is 1:30.
We kindly advise you to check first those warnings from FCA and CONSOB after this review if needed. Think twice before investing any of your funds in this Red Finance Capital broker scam.
Trading Platform Overview
We don’t like comparing trash with gold. Their web-based trading platform is nothing but TradingView combined with some minor changes about indicators, charts, and news. However, if you are looking for advanced tools like social and copy trading, EAs, and advanced indicators you won’t find this with this broker.
Since this is a web trader it’s not available for download on any mobile device. This is a huge disadvantage since most traders love to track their progress on the go. That’s why we always recommend looking for licensed companies that are offering at least MT4/MT5 trading platforms.
Account Types Available
Broker offers 4 different account types. All of them are the same in the end goal. You end up scammed, it’s just a matter of how much. A higher account brings you higher leverage, which means more risk and easier money loss. Strange thing is that you get access to more assets if you deposit more money. Nonsense, but a classic trick from offshore scammers. Let’s take a look at account types:
- Mini 250$
- Standard 5.000$
- Classic 25.000$
- VIP 50.000$
Leverage ranges from 1:30 up to 1:100. Spreads are mostly tight but non-defined. Therefore suspicious.
If you take a look at any regulated company, first they will offer you a demo account. If not demo account, you have a micro account for 10$. That’s made for clients to test out the company, see what assets are available and what trading conditions are present and then decide where to trade.
Deposit and Withdrawal Process
According to the company website, they only offer card transfers and bank transfers. Apparently, the company covers commissions. All of that is bright and shiny when clients are depositing, They won’t face any issues. However, when you want to withdraw the funds, that’s where the games begin.
A lot of Red Finance Capital reviews are saying the same thing. That client can’t get money out. That’s only because of the lack of regulations. The company can give you any excuse why not to give you money. Luckily, we know some.
In the beginning, the issue is always documentation. You are always missing something for withdrawal to be accomplished. After that, you get an amazing opportunity that can be done only today and then you might reinvest the money. Suddenly overnight you lose everything and you can’t get withdrawal because you don’t have any to withdraw.
On the other hand, if you don’t make a withdrawal they will offer you very dangerous bonuses. You need to make a huge rollover to be eligible for a withdrawal. Last but not least is a withdrawal fee scam.
That works on a principle of a made-up fee that you have to pay before you get the money out. Then the broker knows they got the maximum out of clients and if you pay that you never get contacted again.
To sum it up, never trust a non-regulated broker. Now you know why!
How Do I Receive a Refund for Being Scammed by Red Finance Capital?
A lot of people are asking themselves the same question. The solution is a chargeback. Depending on the depositing method it can be more or less complicated. The best option is to do it through experts and step-by-step.
Our team can give you a free consultation on your first step. Just have in mind that those procedures are time limited. So, we need to take some action. Get in touch today!
FAQs About Red Finance Capital Broker
Is Red Finance Capital Regulated?
No. They don’t have any domestic or Tier 1 regulations. Therefore your capital is not safe with this broker.
Is Red Finance Capital a Trustworthy Broker?
Absolutely not. A company that is not transparent and in less than 1 year in business has already 2 warnings from financial regulators. Huge red flags all over.
What Funding Methods Does Red Finance Capital Accept?
The broker only accepts cards and wire transfers. It is not confirmed, but there is a high probability that in later stages they are using crypto transfers as well.