Gitex Capital Review — Just Another Scammer?
The main mistake of most deceived traders is their excessive self-confidence and belief in intuitive sensations. However, each investment company requires careful research before choosing its services. In this article, you can find out what aspects you should pay attention to in order to avoid a scam.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||St. Vincent and Grenadines|
|Supported Platforms:||Web (Gitex Terminal)|
|Cryptocurrencies:||Yes (BTC-E, Mt.Gox, OKCoin, Huobi, Cryptsy, BitStamp, etc.)|
|Types of Assets:||Shares, Indices, Currency, Commodities, Cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
What About Gitex Capital Regulation?
According to the information mentioned on the broker’s official website, they are regulated by the SVGFSA, a financial services authority based in Kingstown, St. Vincent. However, we wouldn’t rush to premature conclusions about the company’s trustworthiness. You won’t find a list of businesses under the SVGFSA’s control by checking their website.
The FSA creation goals were to manage internal non-banking structures and control the process of international financial services. Nevertheless, calling the FSA a full-fledged regulator is quite difficult since they’ve noted a few times that they don’t issue licenses but only register brokers. Moreover, try to find detailed information, and you’ll be amazed to discover that the jurisdiction of Saint Vincent and the Grenadines allows conducting investment actions without a license.
Gitex Capital Warnings From Financial Regulators
It’s known that many leading brokers started their journey with the registration of the FSA. Probably, for this reason, defrauded investors fall under the influence of Gitex Capital and find themselves in a web of sophisticated trading scams. However, if you go into the details, every prosperous company registered by SVG later has received reliable regulation such as the Cyprus Securities and Exchange Commission, Financial Conduct Authority, ASIC, etc. We checked the databases of different regulators yet didn’t find any traces of Gitex Capital.
Beware of Extra Fees Before Withdrawing Funds
We always encourage investors to check all the details of terms and conditions offered by brokers before dealing with them. Nevertheless, it is clear that beautiful speeches may have nothing to do with reality. As a result, fraudulent brokers may remain silent about the hidden costs, commissions, or taxes that will be charged on your withdrawals. This is why we recommend you read honest reviews and feedback from other investors who have experience working with a financial organization you are interested in.
Withdrawing Funds Issues
Although Gitex Capital has prepared quite professional documents regarding withdrawals and deposits, some statements are controversial. For example, they assure that they offer a profitable reward system. Nevertheless, bonuses can be debited only if the maximum trading volume is 25 times the deposit amount.
So the conditions are quite unrealistic. Moreover, as many deluded traders assure, they cannot withdraw the funds earned from trading; the same concerns their deposits. This indicates that the fraudster Gitex Capital makes a profit not from the commissions but on their clients’ deposits.
Most Of The Victims Live In Germany, Romania and Spain
According to statistics collected by companies that help return money to deceived people, most victims of Gitex Capital are citizens of Germany, Romania, and Spain. Once again, we strongly recommend every depositor trust only organizations regulated by verified financial authorities.
Traders About Gitex Capital Scam
After cooperating with several unsuspecting victims of fraudulent projects, we accomplished research and found similar complaints about the Gitex Capital broker on various trading forums. People involved in fraudulent trading activities were concerned about withdrawal issues and total ignorance of emerging problems. Some even claimed that the company was using fake cell numbers and emails, which is not surprising when dealing with a completely anonymous organization.
Why Do People Get Sucked Into An Online Trading Scam?
Usually, a shady brokerage is built on the same concept: creating a legitimate-looking website, lying about regulation, hiding management details, and providing terms that are more favorable than competitors are offering. In the case of our “suspect,” all points are embodied in reality flawlessly.
Scammed by Gitex Capital? – Tell Us Your Story
Every day we come across dozens of defrauded investors who lose faith in the trading industry because of the financial swindlers. If you find yourself in a difficult situation, our team is ready to support you and help you get your money back.
But What Is A Chargeback?
Chargeback is what doesn’t let the scammers go free. Don’t feel embarrassed about reporting a scam. Scams can happen to anyone. Contact us via Online Chat or any method convenient for you, and our specialists will do their best to restore your financial integrity.
What Is Gitex Capital?
Gitex Capital claims to be a regulated trading platform and financial advisor. Actually, this statement is a lie since the company doesn’t have any verified licenses.
Is Gitex Capital A Scam Broker?
Based on the facts that the company is not regulated and, of course, taking into account the complaints of dissatisfied investors, we can confidently state that Gitex Capital is a fraudulent organization.
Is Gitex Capital Regulated?
No, Gitex Capital is not regulated by reliable financial authorities. Fraudsters issue SVGFSA registrations for regulation.