In a vast forex market, it is difficult to identify the broker which is legit and genuinely working towards the benefits of the investors. A number of scam brokers are actively operating and making innocent investors their victims. Here, the people should properly investigate the broker before actually transferring the funds to any broker. One method of researching about the broker and its activities is to check out the reviews on several sites and learn what the clients are saying about the broker. One such scam broker identified by All Scam Reports is Face Capital broker, which claims to be a legit broker but is not.
All Scam Reports recommend its readers avoid investing with Face Capital. And if you are investing here, we would like you to read the descriptive Face Capital review to gain clear knowledge about the broker.
Face Capital Review –
Face Capital claims to offer financial investment opportunities for the increasingly growing base of worldwide customers. As mentioned on their website, Face Capital has its headquarter in Hong Kong. It offers its clients commodity futures, such as gold, silver, crude oil, and stock market indices. However, the regulation status of Face Capital is not known. It can be concluded that the broker is not regulated by any concerned financial authority. Along with it, the broker also misses out on some important legal document that is to be provided to the traders.
Minimum Deposit –
Face Capital Broker offers its clients a minimum deposit of $1000. There is no logical explanation and view on why the amount is such high for the investors. The amount asked by the broker is much more than the usual brokers operating in the market. The approx amount needed to be deposited is usually kept at $250. Hence, the huge minimum deposit is a red flag that should not be avoided.
Trading Platform Offered –
Face Capital offers its investors with MetaTrader5 trading platform. It is one of the most widely accepted and used trading software among investors. Because of its powerful automated trading features, the investors enjoy trading and can get several other trading strategies.
Deposits and Withdrawal –
Deposits through credit cards and China Union pay is available at Face Capital. However, the information regarding the withdrawal techniques and process is not clear. It states that there is a lack of information on behalf of the broker which is quite doubtful regarding the authenticity and relevancy of the broker.
The leverage offered by Face Capital is up to 1:200. It is stated that this amount is restricted by most legal regulators as it is quite unsafe for retail traders. Users are requested to be extremely careful while dealing with these extreme leverage amounts.
Negative Reviews and Low Ratings –
The broker has gained a number of low star ratings because of its anonymous behaviour. Several clients are dissatisfied with their services and have complaint on various online platforms. Complaints regarding the inability to withdraw the amount and losing the can also be seen on the sites.
Face Capital is a Scam? Read here!
Taking note of the above-mentioned points, we can conclude that the Face Capital scam is true and the broker is not safe to invest your funds with. Selecting the legit broker is the very first part of your investment journey. If not selected the good one, the people can face loss of funds. Face Capital scam is not the only one existing in the forex market, there are several other scams too such as forex scams, binary scams, crypto scams, etc. If you are a victim of any kind of scam and looking out for help in regaining your lost fund, contact us and we will guide you with the fund recovery process.
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