The Capital Way Scam
Capital Way claims to offer a passive forex investment providing over 50% annual returns using a forex investment.
Trade with the world’s leading algorithm, over 50% return annually
Precise and swift buy/sell transactions solely on the EUR/USD pair, executed completely automatically by our algorithm
Who are Capital Way?
Despite claiming “Absolute Transparency” on their website, Capital Way provides no details of who is behind the business.
The company claims a ten-year track record and provides records of supposed past performance going back several years. All such claims are fraudulent. The capitalway.com domain is anonymously registered, and was updated on 21 January 2019.
Similar review: Gibson Capital
Capital Way has a Facebook page on which numerous content-free posts have been backdated to as far back as 2013. However, Facebook’s “Page Transparency” box shows that the page was in reality created on 18 February 2019.
The website’s Terms & Service identify Capital Bridge’s corporate identity as Eastridge Capital Limited, which was incorporated in the Marshall Islands in July 2018. Marshall Islands incorporation is a favorite for fraudsters due to its essentially non-existent regulation.
There is no evidence that Capital Way existed prior to July 2018 at the earliest, and the scam is likely to have started in earnest in February 2019.
The company claims to be headquartered at the prestigious address of One Canada Square, Canary Wharf in the UK. This is another easily disprovable lie as Capital Way does not appear on One Canada Square’s list of occupants.
How safe is the investment?
Capital Way is currently being promoted in the UK via Gmail ads. The use of Euros on its website suggests it may be promoted in other European jurisdictions.
Despite promoting investments in the UK and managing a collective forex investment, neither Capital Way nor Eastridge Capital Limited appears on the FCA register. This means the company is breaking the law right from the off.
Capital Way’s refusal to release details of its directors, its willingness to break securities law, its lies as to when it was established and fabricated track record, and its implausible claims to generate returns of 50% per year (when 8% per year is considered a “high” projection for a legitimate, diversified stock market-based investment) confirm beyond doubt that Capital Way is an investment scam.
Depending on how long Capital Way’s anonymous directors decide to keep the scam running, this may be a simple take-the-money-and-run scam, an advance fee fraud, or a Ponzi scheme.
Either way the outcome for anyone who hands money to Capital Way is the same; they are certain or virtually certain to lose their money.
How do I get my money back?
Your money has been stolen by persons unknown and the chance of recovery is minimal.
If anyone contacts you claiming they can recover your money, it is almost certain to be another scam. They will ask you for “legal fees” which you will never see again.
Investors who fell for this scam should change their contact details as they are likely to be targeted by – and fall for – similar scams in the future.
I started with a demo account to see whats up.
I was first told be a rep that i would have a own bankaccount and my funds would go onto that and from that account trades would be made.
However i might have misunderstood, hard to say in hindsight.
I asked some question as to why they are incorperated in a far far away country and do not even have a legal company in the UK, only an address and a VoiP phonenumber and they explained that it was for tax reasons.
That sounds understandable, but i prefer to pay taxes as it benefits us all and if u make such a yield, who cares right?
I needed to pay to an bank account that was not connected to any known company and then the trading started.
I had it for three months or so, it was extended. The result seemed to good to be true, and there is not way to really check, myfxbook is a great tool, but also easy to manipulate.
In this three months i was really feeling pressed by numerous calls about adding money.
Understandable, but could have been a little bit less.
Anyway, i was testing this and decided to not continue.
I got my 300 back, it was paid via an Upaycard, some virtualcard issuer with a Belgium IBAN and the company paying me back was Moorman ltd formally know as UPAYCARD LTD.
The profit where not paid, although discussed upfront, there would only be a 28% fee on the profits.
That and the fact that there is NO way of knowing to whom i am paying my savings to made me decide that its not for me.
They contacted me via whatsapp, we had a nice conversation, but none of my concerns where addressed.
[15:23, 1/28/2020] Capital Way Chica: All the information is relevant for the basic account and above
You are on the trial account to test the software. Please listen to our conversation and see if it will refresh your memory.
[15:54, 1/28/2020] Martin S -BTCOYL: I checked, and yes u are right, what was confusing is that in communication its about small details.
To me it can be explained in a few ways, but in hindsight i agree more then disagree with your version.
In my version i have already read your website:
(The credit fund added to the client’s account is not a bonus and is not withdrawable at any time.
Capital Way’s success fee is still relevant while the client is on a trial account), and then have conversation where we speak about it, but with the info of the website in my head, it leads me to assume that if we have some bad trades the 300 is covered, and profit is shared with substraction of the fee.
I know i constructed that truth myself, but i also understand how it happened.
So ill go for 70/30 meaning that u are right , 70% and the other 30 i keep for myself.
I will change that part of my review as its only fair.
Does not change the fact that who is running your system is doing a lot to stay anonymous , avoiding regulation (which is understandable).
Now im all about tax planning, but in the end, if i would put in 300k i dont know to whom i am paying, i have no legal options to get anything back.
For a serious setup at least pretend to have accountability, but i told your coworker already.
[16:09, 1/28/2020] Capital Way Chica: In cases like this, we expect our clients to call us about their concerns before posting a review and we would be more than happy to answer any questions or misunderstandings that might have.
To further answer your question about taxes and regulations, we work under the European law and as you have seen we are trading on the Bitcoin. At the moment there is no authority that regulates algorithm trading of Bitcoin. However, we are using a regulated company to transfer and secure ours and our clients funds.
[16:51, 1/28/2020] Martin S -BTCOYL: u ahd only a few bitcoin trades, and many euro/usd if i recall correctly. And you are not working under European law as you work arround that by setting up your business in two parts, one being a software company giving access to software only, and one doing the trading, in a tax heaven without owner disclosure.
Can u give me then the full details of your european company and the specific company that pays you?
There is nothing on the address u stated on your website
[16:55, 1/28/2020] Martin S -BTCOYL: Your customers pay to a bank account that it not linked to you, your company or anything at all, and if you return the money its via one of the only services that does not disclose who we are receiving from and call it commision.
[17:06, 1/28/2020] Martin S -BTCOYL: Would u trust your savings if the requirement would be to transfer them to bank account that is (at least not visible) not under control of the company that asks you to deposit?
And if that company claimes to be operating from the UK but has such an setup that money is not managed by them but by a sister/mother company on the marshall islands and the so called local European branch takes zero responsibility for anything in their terms as in fact we dont do business with them, but with forreign company?
The same 10k you would like to keep safe for your kids education?
[17:07, 1/28/2020] Capital Way Chica: Of course we have.
We have the software company that operates from UK. The full address is on the website.
We have our financial department located in Bulgaria. I can send you the registration number which is also available on our website.
[17:08, 1/28/2020] Martin S -BTCOYL: what address is on your website?
[17:09, 1/28/2020] Martin S -BTCOYL: have u ever read the terms on your site?
[17:10, 1/28/2020] Martin S -BTCOYL: Mixing up so many names that no one can make soup of it )))
[17:11, 1/28/2020] Capital Way Chica: The company is working through a regulated company to transfer the funds securely.
As you can see, we have never had any problems with our clients regarding withdrawals. You saw that you’ve received your funds easily.
If you had the basic amount or above, you will see that you will also enjoy the profits.
[17:11, 1/28/2020] Martin S -BTCOYL: aha so tell me wich company is at this address?
[17:11, 1/28/2020] Martin S -BTCOYL: Our Address: 37th Floor, 1 Canada Square, Canary Wharf, London, Greater London, E14 5AA, United Kingdom
[17:12, 1/28/2020] Martin S -BTCOYL: because i could not find a single company with e name similar to your company in any register
[17:12, 1/28/2020] Martin S -BTCOYL: Even called the company house to see what was my errror, but they never heard of you.
[17:12, 1/28/2020] Martin S -BTCOYL: The list of companys inside that building does not include capital anything
[17:13, 1/28/2020] Martin S -BTCOYL: your turn again
[17:13, 1/28/2020] Capital Way Chica: ????????????
Maarten, maybe this is not for you. We have clients that are with us for almost 3 years with no problems so far. You judged us from 3 months. We just wanted to make sure that regarding your review we are on the same page.
[17:14, 1/28/2020] Martin S -BTCOYL: aha ))))
[17:14, 1/28/2020] Martin S -BTCOYL: and u have no answer
[17:14, 1/28/2020] Capital Way Chica: We are renting our offices from Regus. This is why we don’t appear in the list of tenants.
[17:15, 1/28/2020] Martin S -BTCOYL: and why are u not registered in the companies house then on that address if you claim that it is your address?
[17:15, 1/28/2020] Capital Way Chica: Good luck Maarten.
There is no point in arguing. You received your money back in full.
I wish you all the best
have a trail account with Capital way and have had long conversions with my account manager – but it does seem to good to be true – Making € 90.00 in 2 weeks and I made my deposit by Visa card and if I’m going to continue my account it needs to be paid to a bank account that is not in Capital ways name. When I got my payment receipt it’s stated when I got my statement it will show as Capital way and it didn’t -it stated HQ*BPR -IT. More alarm bells.
Has anyone reported them to action fraud ?
I agree this company has all the warning signs out there but this review was 10 months ago now… how is there not a single review of someone not getting their money back or claiming to be scammed?
I saw an Ad on instagram and decided to look them up, and i opened a account.
Someone(Leah) has been in touch with me and asking me to start a trial and test them out. I have expressed my scepticism and i have asked similar questions as Maarten, and they have answered with the same replies.
But they always point out that myfxbook performancy and trustpilot reviews cannot be faked, Is this true?
Who in their right minds would invest in an unregulated company that isn’t listed on its registered address & has no contactable directorship or ownership?!! Its absolute madness!!!
I came across this review as I was scrolling through some articles about Capital Way.
I do not know who the author of this review is nor does it interest me but I believe in things I try and experience for my own.
I’ve been with Capital Way for almost two years now and I’ve been making amazing returns on my investments so far.
These clowns have called me several times trying to persuade me to deposit some cash with them, despite me telling them at every turn that I am not interested.
Did my own digging and came to the same conclusion as in the main article above.
The last call I got, the guy (Ethan) tried very hard to convince me that he was sat in an office in Canary Wharf. The fact that his telephone number started with 0203 was a huge give-away – 0203 numbers are geographical numbers that anyone can rent to give the impression that they are based in London, when they can actually be pretty much anywhere in the world.
When I said that they weren’t FCA-regulated, he claimed that they are ‘simply a software company’ and as such don’t need to be regulated, so aren’t breaking any FCA regulations. I explained that their entire company structure was designed to avoid falling foul of the laws (in the UK at least) and that I was sure that the FCA would not be satisfied with this as an explanation, when the ‘software company’ was asking investors to deposit sums of cash into a trading account.
I haven’t heard back since.
For your wallets’ health, you should stay away from this scam.
Almost fell for it, somehow they even tried to contact me on WhatsApp this morning! Pity as at 56 I thought finally I can put some bit of a pension together as I had lost mine through the loss of business and basic survival. Any suggestions for legit companies doing very well percentage wise? Noel
I have a little problem with this review. I have an account with Capital Way. When I requested to withdraw money, it was sent to my bank account within a few hours. I do not work with Capital Way nor have they paid me to say this. If this is a so-called scam, don’t you think some law enforcement officials would have reacted already. This article makes no sense in today’s day and age