SafeCaps Review – Numerous Warning Signs Can Keep You Safe
The official owner of this brokerage is Aegion Group LTD with headquarters in St. Vincent and Grenadines. Even though it’s quite a bad start and we can’t expect much, we are doing detailed analyisis. As a freshly registered brokerage and high requirements, we were surprised by the results.
To see how to keep your money safe from this and similar swindlers, read our SafeCaps review until the end. But don’t miss the latest updates on Bittradehouse and BullishFX reviews to learn more about the trading world.
| Company | Aegion Group LTD |
| Headquarters | St. Vincent and Grenadines |
| Website | Safecaps.io |
| Warning | FCA, CSA, KNF, IOSCO |
| Platforms | Proprietary web trader |
| Minimum Deposit | 5.000 EUR |
| Leverage | 1:200 |
| Spread | From 0.1 pips |
SafeCaps Funds Security and Regulation
To sum it up, SafeCaps doesn’t provide any security to its traders. Even if they claim to do so, that’s all fake. Primarily because the broker is registered in SVG without a license for trading. But not only that. This scam broker didn’t bother getting any other license. Not to mention Tier 1 group like FCA, ASIC or CFTC. Instead, they earned multiple warnings.
https://www.fca.org.uk/news/warnings/safecapsio-clone-fca-authorised-firm
https://www.securities-administrators.ca/investor-alerts/safecaps/
Starting with the Financial Conduct Authority (FCA) which led the avalanche. The SafeCAps scam broker tried to clone legitimate firm. Which makes them even worse than they are. Consequently, CSA followed their example. Therefore, traders know for sure that they can’t get anything promised.
SafeCaps Trading Platform
Another key point is their trading software. Many experienced traders, but also newbies prefer Meta Trader. It’s very simple to use and highly functional. But most importantly, it’s third-party software and can’t be manipulated. Unlike, SafeCaps proprietary web trader that the company offers.
With quite a basic web design and only essential trading tools, it can’t compare to MT. Not even to cTrader. Above all, the company doesn’t offer a dedicated iOS or Android app. In general, that lowers the trust in the app even more.
Broker is Using AnyDesk
AnyDesk is a remote control software that allows users to control actions on a different device. The main disadvantage here is that such software is used by the scamming company.
In a blink of an eye, the company steals all information they need. But even worse, they can steal your money. Whether from a bank account or a crypto wallet. Which is a more favorable option among swindlers.
Deposit and Withdrawal
If everything mentioned above is not enough to quit, here is more. The main payment solution with this scam broker is cryptocurrencies. Cryptos are highly popular due to fast transfers, high anonymity and lack of tracing methods. But if they are secure enough, they wouldn’t be used by scammers. Once you send money to the crypto wallet of the broker, the money is gone.
There are only a few ways to trace it down. When it comes to withdrawal with this investment scam, those are practically impossible. Firstly, because of non-deposited funds. Those are practically bonuses that the company offers as some kind of motivation. But be careful because you have to trade 25 times higher volume to be able to withdraw.
Generally speaking, the withdrawal processing time is too slow. Especially knowing that they use fast crypto transfers. It takes 2-5 business days for the broker to process the request. Also, there are fees of up to $50 + a processing fee of $10. However, there is another catch. For every withdrawal before 200 times turnover will be charged with an additional 10% of the amount. What insanity!
Account Types Available
With this investment scam, the company goes straight to the point. They don’t want to waste time with small amounts of money. Therefore, they require big money. SafeCaps account types are:
- Standard 5.000 EUR
- Premium 25.000 EUR
- Business 100.000 EUR
With the leverage of 1:500, they are already breaking numerous regulations. Spreads of 1.5 pips and commission from 0.5 EUR are irrelevant considering their activities.
How Did This Broker Carry Out The Scam?
Broker carries out this scam mainly through malicious policies. Very often traders misread it or don’t read it at all. But in the end, the policy works only in the favor of the broker.
Once you are caught depositing big amounts of money, you can’t stop. Because they mainly target inexperienced traders that don’t know what to expect. So, if the broker serves you with AML laws and non-existent fees for a withdrawal, don’t bite it.
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Our specialized team is available to consult you on any trading topic. But primarily in providing you with information about brokers. Don’t hesitate to get in touch if you need assistance.
Also, with specialized tools like CipherTrace our team can help you track your crypto transfers. Of course, if any broker stole money from you. Let us know about your experience and find out how we can assist you.
SafeCaps Summary
SafeCaps scam broker is a definition of a con artist. That’s why they earned multiple warnings. But don’t be surprised if they appear with a different brand but the same patterns. That’s why it’s important to understand warning signs.
For example, shady trading software, shady funding methods and malicious withdrawal policies. After all, you can just check SafeCaps reviews and see what they are really about.
FAQs About SafeCaps Broker
Is My Money Safe With SafeCaps?
No. They are not regulated, so all fund protection measures they are promising are fake.
Does SafeCaps Offer a Demo Account?
No. There is no risk-free option for testing the company services with SafeCaps broker.
What Is The Minimum Deposit for SafeCaps?
The minimum deposit is shamelessly high for such a broker and starts at 5.000 EUR.
