FINMA has issued a warning against Trade Capital

September 25, 2018 at 11:11 PM

The Switzerland financial markets and service providers regulator FINMA has warned of unregulated forex broker Trade Capital.
The Swiss Financial Market Supervisory Authority (FINMA) is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges, and securities dealers, as well as other financial intermediaries in Switzerland. FINMA keeps a close eye on the unregulated brokers and usually warns in a timely manner of those who make false claims of Swiss regulation or location but are not Swiss-regulated.

Trade Capital operates through the website and offers to trade with some forex pairs, cryptocurrencies, CFDs on commodities, and precious metals. The company is owned and managed by Trade Capital Investments LTD. The company is based in Geneve, Switzerland. According to the firm’s terms and conditions, Trade Capital is a legal entity of Lozareo Group LP, UK-registered company. Although, there are no records about Trade Capital in the registers of the UK’s Financial Conduct Authority. They do not provide any information about the regulation/license of the company and seems like Trade Capital is not licensed or overseen by any of the financial regulators.
The website supports English, German, Italian and Spanish languages, which coincides with the contact phone numbers provided on the websites (UK, German and Swiss). This fact only proves what countries the broker has been targeting without having any legal rights for that.
The negative comments about the Trade Capital on the net also reveal that those who invested are having hard times with withdrawing their money, while the company representatives are cold calling them promising high returns.
You can read our review on this broker here.

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