OptiCapital Review – Is It a Forex Scam? The Truth Exposed 2023
OptiCapital claims it is all about trust, but we have little reason to believe them.
Presented as a cutting-edge forex and CFD broker based in the UK, the website is nothing more than an outright scam, and a particularly dangerous one at that, because they may easily mislead you into believing that they follow the guidelines of some of the most reputable regulatory institutions in the forex industry, such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investment Commission (ASIC).
So, if you are still thinking about trading the forex markets with the bogus website in issue, you should reconsider and read the following words.
As previously stated, OptiCapital Review is a complete hoax. We are assured that “the Opticapital Legal & Compliance Team strictly adheres to every circular distributed by the three main tiers one regulator, FCA, CySEC, and ASIC,” but as we have stated, we have little reason to believe that. Take a look at this:
A broker is either regulated and authorized by the appropriate regulatory institutions, or it is not, and in this situation, it is clearly not licensed anywhere, indicating that we are dealing with a scam.
Furthermore, the lack of a legitimate forex license renders the OptiCapital Review website virtually anonymous, because you should agree with us that if you cannot verify your new broker’s identity and credentials in the registers of any official regulatory institution, such as the FCA in the UK, you simply have no reason to believe anything the broker claims, including whether its purported London address is genuine or not.
Furthermore, while reviewing the website’s Terms and Conditions, we came across a hazy reference to the offshore jurisdiction of St. Vincent and the Grenadines, which, you should agree, does not assist the website’s trustworthiness.
Their Trading Platform
OptiCapital Review claims MetaTrader5, however, we were unable to access any functional trading platform, indicating that something about the so-called broker is not quite correct.
Their Minimum deposit
The minimum deposit is said to be $300 USD, although you are encouraged to deposit at least $2500 USD. At the same time, the basic Bronze account requires a $10,000 USD minimum deposit. And it’s fairly common for scam websites like these to lure you into depositing as much as you can.
Their Payment methods
OptiCapital claims to accept VISA, Mastercard, and bank wire transfers, however, we were unable to check this promptly. Whatever the story, keep in mind that it is quite common for outright scammers like this company to try to entice you to deposit your assets in bitcoins or other crypto coins – a technique that has a quite good explanation.
To begin with, if you do make a deposit in crypto coins, you have no way of reversing the payment after you realize you have been scammed and try to reclaim your stolen investment.
If you made a deposit in a more traditional manner, say with your VISA or Mastercard, you will still have the option to recover your funds if you file a chargeback at the bank that issued your debit or credit card – a step we strongly advise you to take immediately, especially if you are dealing with unregulated, offshore scammers like OptiCapital Review.
Their Trading instruments
OptiCapital appears to offer every trading instrument imaginable, including currency pairings, indices, stocks, energy commodities, precious metals, and cryptocurrencies. That, however, does not change the reality that the website is a complete hoax.
OptiCapital Review- OptiCapital Spread
OptiCapital advertises spreads that begin almost at nothing, which sounds amazing if the broker was fully licensed and allowed. Whatever the case, here is our list of brokers who offer narrow spreads for real:
OptiCapital Review- OptiCapital Leverage
In terms of maximum leverage, OptiCapital Review does not bother to publish what it might be, and because the website is not to be trusted in the first place, being unregulated, nearly anonymous, and all, you can discover our list of brokers offering leverage as high as 1:500 instead:
OptiCapital Review- OptiCapital Withdrawal requirements
Also, keep in mind that withdrawals from unlicensed services like OptiCapital Review are always problematic. To begin, you will be unpleasantly startled to hear that there is some ludicrous withdrawal processing and handling fee that you will have to pay regardless of whether your withdrawal request has been authorized or not.
If that isn’t bad enough, if you have been duped into depositing any trading bonus, you will also discover that it comes with strings attached – a hefty minimum trade volume restriction meant to prohibit you from making any withdrawals.
OptiCapital Review- OptiCapital Pros and Cons
Well there are no pros as such, but there are many cones as listed below:
- No legit Forex license
- Falsely claims to be based in the UK
- Possible offshore registration
- Virtually anonymous website
- No reliable trading software
- Trading bonuses with strings attached
Let’s have a look at what people’s experience with OptCapital Review says:
One of the customers mentions that he was seeking a withdrawal from OptiCapital Review and he is getting nowhere. He mentioned that he has deposited just about everything he has into an Opticapital account – almost $157,000 AUD (through Binance transfer). His OptiCapital Review account is now sitting at “apparently” $711,000 USD and he has asked to withdraw $120,000 USD and everything has gone silent. This is the second time he has put in a withdrawal request. The first one was denied because he hadn’t deposited enough funds. He mentions that he really thought he was onto something and would never be scammed, but actually, he was scammed. Now he is crying out for help.
Conclusion – Is Broker Legit?
Clearly, after going through the above poitns, it’s cealr that OptiCapital is not a reliable broker. There are too many red flags in the company you wouldn’t want to see elsewhere.
You should only trade with legitimate forex brokers and service providers. Luckily, the industry is full of veterans which offer you great offers and sign up bonuses.
However, at the end of the day, OptiCapital is not a reliable company and you should avoid dealing with them at all costs.