Onspotcap.com Review: Uncover the Onspotcap.com Scam With Us

Onspotcap.com is yet another Forex scammer only after your money. They want you to believe they are legit, but it is very easy to see behind their smoke and mirrors, and we will help you do just that.

Our Onspotcap review brings you everything you need to know about this scammer, and you will learn what signs you should look for when investigating brokers. But no more wasting time. Let’s get to the facts.

Regulation Info

Firstly, we will cover the Onspotcap regulation. This broker is a part of OnspotBNK Limited, which is an entity registered in the Netherlands. This puts them under the AFM regulatory umbrella and thankfully for you, anyone with an internet connection can access their register. After a simple search, we did not find OnspotBNK Limited and can conclude they are 100% NOT regulated.

This is a major red flag and we advise you to stay away from them at all costs! And we are not the only ones who think so. If you check the Italian CONSOB, you will see that they issued a public warning against this scammer. When an official regulatory body does such a thing, you can be certain a broker is bad for business. Here, take a look for yourself.

Why is Regulation Important?

The only way you can be confident your money is safe is if a broker has an official license! Regulation is a stamp of approval from a regulator and it vouches that the broker will not steal your money or trick you in any way, otherwise, they will suffer severe consequences.

Additionally, regulators put stringent rules in place to protect traders. A broker must have a large operating capital if it wants a license and it also needs to comply with the leverage, bonus, and other requirements.

Onspotcap.com Profile

You can easily spot the signs of the Onspotcap.com scam if you know what to look for. Let’s see what about their trading environment gives it away.

Firstly, there is not much information on their website. When looking for a broker, you want to know about the trading platform you can expect, leverage, etc. Onspotcap does give you the basics but does not elaborate.

The prime example is their platform. It does not say what exactly it is, and we can only guess based on the visuals it is a simple WebTrader. The only thing we know is that there is an Onspotcap app, and that is it. You will never see a legitimate broker acting this way, so you can suspect Onspotcap is a scam right away.

Additionally, we do not know what Onspotcap account types we can expect. We saw the Onspotcap demo account but nothing else about the minimum deposit requirements, leverage, or other crucial details. 

You can trade forex and crypto, among other instruments, which does not mean much as you do not know anything else about the trading environment.

Is This Broker Safe?

No, they are not, and if you invest with them you can say goodbye to your money. Onspotcap.com and Tierra 500 are perfect examples of what a scammer looks like. They do not have licenses and use shady tactics to trick you out of your money.

Anyone looking to start trading must find a reliable broker. They will guarantee your safety and help with any growing pains you might encounter. We know the market through and through and are perfectly equipped to recommend you the best ones. All you need to do is contact us and we will do the rest for free.

Trader Reviews – Sharing Experiences

Every good professional review will have a user experience section. It helps us get a more accurate picture of a specific broker by showcasing specific situations and behaviors from the broker.

You can find Onspotcap on Trustpilot, which is the leading website for trader reviews and the one you should trust. The clients left only two reviews and both are negative.

The first one said:

“At first they asked me to put money in and within a week it grew. I thought it was a good idea, so I added more and kept on for 5 months. It grew big enough to take care of my business. But the problems began when they didn’t approve of it, and wanted more. I told them no unless they released my profits.”

The other Onspotcap client had a similar experience, which she described:

“Basically holding my money hostage. I tried to withdraw my account through a bank transfer but was declined because they said I must first exhaust the withdrawal through my debit card. This card no longer exists but they assured me to “try” it anyway and the bank would sort it out…”

As you can see, withdrawals are the main issue, and whenever you see those, you know a broker is dangerous. Remember, this is what you get when your broker does not have a license.

How Does the Platform Reach Clients and Who Are They?

Onspotcap.com is an anonymous broker, so we could not verify a lot of information. We know the traffic on their website is low, which is not surprising, and it leads us to believe they contact people directly over social media. This scammer mostly targets people from:

• Italy 
• Canada 
• Spain 
• United Kingdom 
• Germany

Deposits and Withdrawal Methods

Unfortunately, we do not have anything to report in this section. Much like with other aspects of their trading environment, Onspotcap did not disclose any details about their deposit or withdrawal situation. This behavior is typical for scammers and yet another sign why you should avoid the firm. 

Reasons To Avoid This Company

We could sit here all day and talk about the reasons you should not invest with this broker, but we will condense it for your convenience. 

The biggest reason is their license or lack thereof. You saw what happens when a broker is not regulated in the examples of TopEU and TitanTrader. You cannot expect Onspotcap.com to be any different. 

Additionally, they are completely anonymous, and there is no reason for you to trade in the dark. You would not buy a house without examining it, so apply the same principle with trading.

Long Story Short – Onspotcap.com

If we were to condense this Onspotcap.com review into one thought, we would say to avoid this scammer and find a better broker. Luckily, we can help you find trustworthy brokers around the world for Forex success – contact us for free consultations.

FAQ Section