Corsa Capital
Corsa Capital Details
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Corsa Capital is a binary options trader. The website makes that clear. It’s design is oddly dissimilar to most online brokers, relying more on a government style website than anything else. Is that all there is to Corsa Capital? Read on to find out.
Corsa Capital offers users an explosive amount of content on every bit of info one might want where trading is concerned. With all this content, however, the most pivotal has been left out, one that renders all else irrelevant: the regulation. There is no information concerning a license. Usually shady brokers mention a country or an agency just to name something, yet Corsa Capital has left all that out. Only once we went through with the registration process, an address in the British Virgin Islands popped up:
The British Virgin Island is interesting in that it requires brokers to have a capital between $100 000 and $1 000 000. The sum varies from broker to broker. However, when we tried back our hopes that Corsa Capital is legit, we were presented with a brick wall. The official British Virgin Islands Financial Services Commission.
Not to worry, for one thing that we have learned from shady brokers is that if they do not showcase a license anywhere on the website, they are most certainly unregulated. Thus we can conclude that Corsa Capital is UNREGULATED. Moreover, binary options trading is prohibited in Europe and the US.
Setting aside the lack of regulation, Corsa Capital seems to be a fully functional broker, and we are almost tempted to believe that the broker might actually be legit. The registration process requires an ID and other documents before one can make a deposit, something that most shady brokers don’t do.
Regardless, Corsa Capital is unregulated. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirement for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
Betting can be done on currency pairs, Gold, Silver, Stocks and other CFDs. There are no spreads, nor is there a leverage because Corsa Capital is a binary options broker.
The only languages are English and Russian.
CORSA CAPITAL LOGIN
There is only one platform available that seems to be proprietary.
CORSA CAPITAL TRADER
This trader is less that average in appearance and options, but it does what it’s there for, and that’s enough. There are certain elements that allow for a level of customization, but it isn’t nearly enough: there are only two chart and three indicators types.
The platform we tried was a web based one. There is also a desktop trader, and no mobile app to speak of.
CORSA CAPITAL MINIMUM DEPOSIT
The minimum deposit is $1, giving anyone a chance to bet.
Deposits can be made via Wire Transfer and Credit/Debits cards. We couldn’t check if these were the only payment methods, because we had to provide proof of identity in order to deposit. This is uncommon with unregulated brokers. To want an identity proof before depositing is usually a good sign.
No matter, be wary when deposing with money in Corsa Capital. Unregulated brokers have the capacity to leech all your money, and even though Corsa Capital seems legit the lack of license speaks otherwise. Brokers with proper licenses operate in ways that put the trader’s security of funds and personal information as a pivotal priority. Your best bet is brokers under the oversight of the FCA or/and CySEC.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
For safekeeping your money NEVER share your credit card number and CVV code with a salesperson. All online payments require this 3 digit number in order to complete purchases or transactions, and by giving yours away to some offshore broker may lead only to the complete drainage of funds from your credit card.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
These two softwares allow for others (in our case the people behind the shady brokerage) to log-in to your PC and flip through all files and browsers, essentially taking over your computer as another user and having access to your personal information like bank account passwords, credit card information etc. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.
CORSA CAPITAL WITHDRAWAL TIME AND FEES
There is no minimum withdrawal amount, as derived by the lack of any info on it. This is concerning, for the lack of such a minimum usually indicates that the broker cares not for the withdrawal amount, meaning that it probably won’t pay it back.
The process times for withdrawals extends to 5 days. This is the time required for the broker to process a request. Whereas payment systems do the transaction at their own pace.
There are no hidden fees, that we could find. However this does not exclude the possibility of the broker taxing users with unexpected charges.
ADDITIONAL FEES AND TAXES
Nevertheless, we want to remind readers that many offshore brokers have no intentions of paying you back. Any effort to withdrawal your money will be unsuccessful. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advice you against withdrawing, or they will ask more deposits needed if one wished to withdrawal. Scammers come up with additional fees and taxes for the sole purpose of keeping you on stand-by, and to deplete as much money from you as is possible.
ACCOUNT VERIFICATION
Beware, once more, when giving away an ID and a proof of address. Even though this broker asks for these details before users get a chance to deposit, the missing regulation still keeps our guard up.
We have our doubts that this broker will not return any funds you deposit with it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a charge back with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won't ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
BOTTOM LINE
We are aware of the irony that such a content rich website gets a short review, but we really include only what is important. Most of the content on the website feels like it’s there to fill in the blanks, and acts as as misleading guide. Make no mistake, Corsa Capital is UNREGULATED.
Corsa Capital compared to other brands
Brand
Rating
Bonus
Min Deposit
Company
Country
Corsa Capital
-
$1
N/A
ForexTime
Copy trading
$10
United Kingdom, Cyprus, South Africa, Mauritius
OctaFX
50% Bonus
$50
Cyprus, Saint Vincent and the Grenadines