Table of Content
Supreme Capital Review – Don’t trust this broker, you may get scammed
Table of Content
Supreme Capital is a suspicious broker with a UK domain and a currently non-functional website. Our Supreme Capital review is here to inspect closely how this broker exactly functions.
The Terms and Conditions reveal the HQ of this broker to be in Saint Vincent and the Grenadines. The local financial authority there does not license forex brokers. SVG is considered a safe harbor for the illicit companies that offer online trading services.
Without proof of a regulatory framework existing to define their business, an offshore firm like Supreme Capital is another phony broker aiming to rob clients.
Is Supreme Capital Broker a Scam or Legit?
Broker is a newly registered offshore company in SVG, but with a UK domain. Since SVG financial authority does not regulate forex brokers, Supreme Capital cannot be regulated in SVG.
Naturally, seeing the UK domain, we have checked the register of the UK regulator – FCA. To be allowed to offer financial services to UK residents, a broker would first have to be given a license for that.
Obtaining a license from FCA is not an easy task. A company would have to give proof of owning at least £750 000 that would ensure their business is stable and long lasting.
Furthermore, clients’ funds are kept safe in segregated accounts and separated from the firm’s money. Compensation scheme of up to £85 000 is ensured in case the firm isn’t able to pay the client. Leverage allowed is only up to 1:30 and bonuses are banned. Another obligatory risk-reducing measure is negative balance protection.
Being unregulated, Supreme Capital cannot provide any of these trading conditions mentioned.
Not leaving anything to case, we have also checked the databases of regulators like BaFin, ASIC, CySEC, AMF, CONSOB, CNMV. As you’ve guessed, Supreme Capital is in none of them.
What Options Do Traders Have for Online Platforms?
It appears that all the claims about this broker offering an award-winning terminal are completely false. Accessing the software offered has proved to us that it lacks all the complex features actual award-winning softwares implement.
Since the central part of every ultimate trading experience is the trading software itself, you should never settle for less than exceptional.
Instead of risking losing your funds to a fraud like Supreme Capital, pick a regulated broker who offers reliable software like MT4 and MT5. These and other similar trading platforms based on them are much more adequate. Designed to offer a competent trading environment, top tier software have complex features and other customizable content.
Account Types Available
There are more than a few account types to choose from on Supreme Capital. Every other account is more expensive than the previous one.
Paying ridiculous sums as an initial deposit supposedly gets you all sorts of premium services and world-class features. All of which is quite hard to believe in, coming from an unregulated brokerage company.
Here are all the account choices possible:
- Basic – min deposit $250
- Silver – $10 000
- Gold – $50 000
- Platinum – $100 000
- Diamond – $500 000
- Millionaire Club – $1 000 000
Leverage differs for every account type, from 1:5 to 1:400. More expensive accounts have options like education, live trading, webinars, advanced platform features, and a dedicated account manager.
The broker offers access to a limited number of instruments you can buy/sell on an untrustworthy platform. Here is how the assets are grouped:
- Forex (currency pairs like EUR/USD, GBP/USD, CAD/GBP)
- Indices (NASDAQ, Dow Jones)
- Shares (Facebook, Google, Apple, Tesla, BMW)
- Crypto (BTC, LTC, ETH)
- Commodities (silver, gold, platinum, oil)
We have already discussed the trading terminal at Supreme Capital and came to a conclusion about it being fake. Be careful trading any instruments under the conditions of this phony broker.
Deposit and Withdrawal
As already mentioned, the minimum deposit required with this broker is $250.
Only available method of funding your account is crypto. Numerous scammers pick this method as deposits are basically instant and withdrawals are obstructed. Fraudsters keep their virtual anonymity while customers have difficulties processing the chargeback.
Supreme Capital assures clients that withdrawals take between 7 and 10 business days. Hard to believe as this unscrupulous broker does not have the goal of allowing clients to earn and withdraw funds.
How Do I Recover My Money If Supreme Capital Scams Me?
Trusting online recovery agents advertising their skills potentially helpful to you in the process of refunding is the next biggest mistake. Please only trust government authorities that have the means of finding the scammer and taking legal action against them.
Do not forget to refer to your bank for help protecting your funds and credit/debit cards.
If you were to ever fall victim to a scamming scheme, do not feel ashamed to seek help.
However, it is always better to first make sure you are investing safely, so choose a regulated broker instead.
Supreme Capital Summary
- Unreliable trading platform
- Highly expensive accounts
- Only crypto depositing allowed
FAQs About Supreme Capital Broker
What Is The Minimum Deposit For Supreme Capital?
Minimum deposit required in order to start trading is $250.
How Long Do Supreme Capital Withdrawals Take?
Processing the withdrawal takes between 7 and 10 business days.
Is Supreme Capital a Trustworthy Broker?
Since Supreme Capital does not comply with any legal framework, they are unlicensed and therefore not trustworthy.