Chase Capital Online Review – Offshore Scam Blacklisted By The FCA
Chase Capital Online is an offshore broker established in the only country with no regulatory supervision over Forex and binary options firms. Was this a reason for the firm to go there, or is there something else? Read our Chase Capital Online review and find it all out.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||FCA, AMF Quebec|
|Owned by:||Cato Flow Tech LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||FX, commodities, indices, shares, futures|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About Chase Capital Online Regulation?
Our research shows that Chase Capital Online is a Cato Glow Tech LLC brand, a firm registered in Saint Vincent and the Grenadines. Besides this brand, the firm owns another unlicensed brand, SharesHolders, requiring clients to deposit a minimum of $50,000. You can already guess what kind of a brand it is.
Since the FSA of SVG declared itself unauthorized for Forex service providers, it means that Chase Capital Online should opt for a license in Tier1 countries where it provides its services.
Why Must a Broker Have a License?
Brokers, especially those based offshore, need to have a license to provide some sort of financial security. If the firm you’re dealing with is based out of reach, provides no information about banks and liquidity providers, and works under unregulated terms, your money can be lost in seconds.
Sadly, Chase Capital Online is not one to bother and has never opted for FCA, ASIC, BaFin, or any other Tier1 regulation.
Chase Capital Online Warnings From Financial Regulators
Chase Capital Online was added to the FCA blacklisted after many UK citizens filed complaints.
After the FCA, a similar warning was issued by the Canadian AMF, adding chasecapitalonline.com to the list of unregulated domains.
Traders’ Reviews of Chase Capital Online Scam
Checking Chase Capital Online reviews was quite amusing. The broker seems to be writing these reviews itself, but not very smart. You will find clients that claim they have been involved with the firm for the last 4 years and are super satisfied. Knowing that the company was registered in 2021, we’re wondering if this customer looks in the future or if the broker is just being reckless and careless, in a rush to write anything.
Here’s a genuine review.
“This company is not legit
I’m working with them for some time now, never letting withdraw, always pushing to invest more money, after every conversation I am scared and my blood pressure goes up. Their company working for few years? their website registered for 3 months and their “regulation” is fake as well. The reviews here are fake as they all have just 1 and all of them are perfect of course.
SCAM SCAM SCAM Stay away, hopefully I will help someone with this review, because when I checked those good reviews fooled me”– Trustpilot Customer
Where Is Chase Capital Online Trading Scam Active?
According to our research, Chase Capital Online trading scam is mainly active in:
Supported Trading Platforms – Available Trading Software
As the broker itself says, it offers a “simple and easy trading platform – WebTrader.”
Platform for Desktop
We will agree with the simple part since there are no advanced tools such as EAs, no more than a few charts, and everything is simplified. It’s suitable for beginners; however, it will highly disappoint experienced investors. The company claims to offer a competitive spread, yet it starts from 2.8 pips for EUR/USD pair, while the average is 1.5 pips. We don’t think it’s anywhere near competitive. On top, the leverage is unregulated and goes up to 1:400, against regulatory rules.
Yet, there is a mobile app for Android and iOS, which we will give as a plus. It’s based on WebTrader, so you will find the same trading tools and the same simplified charts.
Everything About Chase Capital Online Trading Accounts
The broker offers Real and Managed account types. We will go group by group.
The Real account types are:
- Bronze – $5,000
- Silver – $15,000
- Gold – $25,000
- Platinum – $50,000
These accounts differ in spread and leverage, and allegedly you’re entitled to Expert Advisors from the Silver account, but we already mentioned that it’s not an option on the platform itself. Furthermore, the firm requires you to deposit a minimum of $5,000, which is enormously high.
If you want to check Managed account types, here they are.
- Blend Portfolios – $75,000
- Dedicated Portfolios – $150,000
- Fixed Income Portfolios – $250,000
These accounts have a dedicated financial consultant and an advisory fee of 0.95% to 2.5% yearly.
Chase Capital Online Range of Trading Instruments & Markets
The trading company offers 50 currency pairs and 45+ CFDs, including:
We see a significant disadvantage in the fact that this firm doesn’t offer crypto trading.
Also remember the names of the Global Ventures, FXLiveCapital and FullMarkets trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Chase Capital Online Deposit and Withdrawal Methods
Clients can deposit using one of the following methods:
- Debit/credit card
- Electronic payment
- Wire transfer
There are bank fees paid from the customer’s side, but the firm allegedly doesn’t charge any commissions. The same methods are available for withdrawals, but here’s the catch. The firm claims it will let you withdraw the money from the same payment method you used to deposit up to the amount you deposited. Basically, if you invest $5,000 and make $6,000 of profit, you have $1,000 that you cannot withdraw until you deposit more. And that way, you’re in the constant loop.
Bonus Policy Terms
If you think the scam finished there, here’s one more thing. Once you accept the bonus, you have 60 days for the payout. The clause says, “The client must trade a minimum trading volume of the bonus amount divided by 4 in order to withdraw bonus funds.” So, let’s say you got a $200 bonus; you have to trade 50 lots equal to $500,000 to get your funds back.
Scammed by Chase Capital Online Broker? – Tell Us Your Story
If you fall victim to a Chase Capital Online scam, contact us right away. Our chargeback experts may be able to assist you with the refund.
But What Is A Chargeback?
This is a way for your bank to retrieve lost funds from the merchant. For more details, get in touch right away and we will book a FREE consultation. Don’t waste more time; let’s act now and recover your hard-earned money!
What Is Chase Capital Online?
Chase Capital Online is a Forex and CFD trading provider with no license.
Is Chase Capital Online A Scam Broker?
The broker has been blacklisted in the UK and Canada and marked a fraud.
Is Chase Capital Online Available in the United States or the UK?
Chase Capital Online provides its services in the UK and the US.
Does Chase Capital Online Offer a Demo Account?
No, the trading company doesn’t offer a Demo account.