The Central Bank of Ireland warns against Capital Hall
The Central Bank of Ireland (CBI), which also serves as a financial services supervisor, issued a warning against Capital Hall. According to CBI’s official notice, this forex and CFD broker has been offering financial services and/or investment advice to the Irish investors without being authorised.
The Central Bank of Ireland (Irish: Banc Ceannais na hÉireann) is Ireland’s central bank, and as such part of the European System of Central Banks (ESCB). It is Ireland’s financial services regulator for most categories of financial firms. The Central Bank of Ireland serves the public interest by safeguarding monetary and financial stability and by working to ensure that the financial system operates in the best interests of consumers and the wider economy.
The CBI also keeps a register of regulated companies and anyone can check whether a certain forex broker is licensed in the country or not. Besides, the CBI regularly publishes official warnings of unregulated companies that target local investors.
Capital Hall has specialized in financial investment solutions since 2016, and at the moment our area of expertise includes contracts for difference (CFDs), indices, currency and cryptocurrency pairs, precious metals, energy assets and securities. The company is owned by Capital Tech Ltd registration number 92819, Marshall Islands and operated by Pbox Ltd, registration number 204767374, Bulgaria. Despite the provided information about the Bulgarian registration, the broker is not registered or authorized by the Bulgarian Financial Supervision Commission. Obviously, both companies are not authorized and do not hold licenses to provide financial services.
We also keep on reminding that offshore-based brokers should be avoided, as those brokers registered offshore are not considered as reliable ones, because they are basically are not overseen by any authority.
It is better to choose among brokers licensed by the respective authorities in the UK, or Australia for example. For instance, a broker registered with the UK’s FCA can’t simply take investor’s money and disappear. They follow multiple reporting procedures and have to keep client funds segregated from the company’s. You can read our review on this broker here.