Considering investing with GreaterCapital? Before you deposit any money, it’s crucial to do your research. This scam broker review will shed light on the company’s claims and uncover some red flags that raise concerns about its legitimacy.
Here are some reasons why this broker raises scam broker red flags:
- Blacklisted by BaFin: The German Federal Financial Supervisory Authority (BaFin) issued a warning against this broker on May 7, 2024. This suggests the broker might be operating without the required authorization.
- Unclear Ownership: Their website lacks transparency regarding the company’s owners and location. This anonymity is a common characteristic of scam brokers.
- Exorbitant Leverage: They offer leverage of up to 1:500. High leverage can amplify losses significantly, making it unsuitable for beginners and even risky for experienced traders.
- Unrealistic Claims: Promises of “easy money” and “getting rich quick” are hallmarks of scams. Their website emphasizes high returns without mentioning the inherent risks of trading.
Broker Complaint Alert, an organization that helps victims of investment scams, would likely advise caution when considering this broker.
While this broker might appear attractive on the surface, with its promises of low costs and a user-friendly platform, the red flags mentioned above suggest it might be best to avoid this broker.
What is GreaterCapital.world?
GreaterCapital presents itself as a forex and CFD broker, offering various investment products like stocks, commodities, and indices. They claim to cater to traders of all experience levels with multiple account types and educational resources.
GreaterCapital Details
Feature | Details |
Regulation | Not mentioned, blacklisted by BaFin |
Minimum Deposit | $250 |
Account Types | Beginner, Standard, Silver, Gold |
Spreads | From 0.10 points |
Leverage | Up to 1:500 |
Trading Platform | Web-based platform |
Deposits and Withdrawals:
GreaterCapital’s website lacks clear information about deposit and withdrawal methods and fees. This lack of transparency is another red flag.
Account Types:
GreaterCapital offers four account types with varying minimum deposits, spreads, leverage, and features. However, the details regarding these features, particularly the educational resources and analyst access, are scarce.
If you have lost money to companies like Kockcom or LayRay; please report it to us on our Report a Scam form.
Red Flags and Warning Signs
Here are some additional red flags to consider:
- Generic Website: Their website appears generic and could be easily replicated by other scam brokers.
- Fake Reviews: The website features positive testimonials without any verification of their authenticity.
- Unsolicited Contact: If GreaterCapital representatives contact you out of the blue, urging you to invest, it’s a significant red flag.
Customer Complaints and Negative Reviews
It’s challenging to find independent reviews of GreaterCapital. Since the company is relatively new and potentially a scam, there might not be many user experiences available yet. However, considering the BaFin warning, it’s wise to exercise caution.
GreaterCapital Alternative Brokers
If you’re looking for a reputable forex and CFD broker, consider established and well-regulated companies with a proven track record. Look for brokers licensed by recognized authorities like the FCA (Financial Conduct Authority) or CySEC (Cyprus Securities and Exchange Commission).
Got Scammed by GreaterCapital.world? We Help Victims!
If you believe you’ve been scammed by GreaterCapital, don’t hesitate to seek help. Organizations like Broker Complaint Alert can offer free consultations and recommend recovery service options. Remember, the sooner you act, the better your chances of recovering your losses.
While GreaterCapital might seem like a tempting option for beginner traders, the red flags associated with the company are significant. The lack of regulation, unrealistic claims, and BaFin warning raise serious concerns about its legitimacy. When it comes to your hard-earned money, it’s always better to err on the side of caution. Look for a reputable and well-regulated broker to ensure a safe and secure trading experience.
