Fincloud.Capital

We will start off by saying that Fincloud.Capital is not licensed and a risk to all. We must get this out of the way first because the website of this broker is very well put and is shockingly effective. If we didn't know better, we would have mistaken this broker for a legit one without a doubt. Please read the review carefully for it reveals the true nature and shape of Fincloud.Capital.

Not only odes the website make it seem like a legit broker, but we also discovered something in the opposite spectrum of this- that this is a new domain of a past scammer broker, one fincloud.center.

The website reveals that the company of the broker is registered in Saint Vincent and the Grenadines. This is a death sentence. This small island-based nation in the Caribbean fosters thousands of unlicensed brokers, with that number increasing each time (keep in mind that many of these close down). There are two reasons for the flocking. First of all, Saint Vincent and the Grenadines does not have a FX broker regulator, and thus none of the brokers it harbors are licensed. And second, it still allows unlicensed brokers to be registered as companies anyway. This combination is obviously very attractive to scammer brokers.
So, Fincloud.Capital is not regulated in the country, even if it is incorporated.

Next we discovered that the company has been officially blacklisted by CONSOB, Italy's regulator. Getting blacklisted by any regulator, no matter its standing in the industry, is bad, as it a complete turnover for the broker. However, CONSOB is considered one of Europe's top overseers and so the news is especially bad for Fincloud.Capital. Even more so when considering that CONSOB has the power to order any shady site to close its operations. So, we don't think we will be seeing much of Fincloud.Capital in the future.

And we don't intend to. Fincloud.Capital is an unregulated broker and a complete rise. Do not invest here.

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. 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 requirements 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).

The EUR/USD spread is 3 pips, which is almost twice the average. Worse yet, the cost of trade is too high to be of any lucrative value to traders. In fact, only the broker will profit form this spread.
The leverage is capped at 1:200. Users can trade with forex currency pairs, commodities, crypto, stocks, and indexes, although we cannot see a reason why they would do so.

FINCLOUD.CAPITAL LOGIN

We accessed a pretty basic web trader that is actually used by a number of unregulated brokers mostly for its looks. The platforms looks professional until you look at the little irregularities and small abnormalities, much like the website of Fincloud.Capital. The software isn't worth the effort.

FINCLOUD.CAPITAL MINIMUM DEPOSIT

All investments made here will be lost. There is no doubt about that.

The minimum deposit is $250.

The user may invest by means of credit cards, debit cards, crypto wallets, and wire transfer.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

FINCLOUD.CAPITAL WITHDRAW METHODS AND FEES

No scammer broker will ever pay you back. The only way to get your money back is by your own effort, and that rarely even works.

We assume that the broker grants the same methods for withdrawal as the ones used for investing. We assume, although there is no saying what the broker does.

We did find, however, that all withdrawals are charged 20% of a user's profit made. Considering that users should not have invested here in the first place, this commission seems like a hindrance than anything else, although  20% is still enormous.

The withdrawal information is obviously limited, and the one that we do have is not to be trusted.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback 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

Fincloud.Capital is a scam and a risk. Don't let its looks deceive you.