GNTCapital

GNTCapital carries itself with an air of professionalism, yet the load at times seems uneven. Should you be worried?

The broker claims to be operated by GNT Capital LTD, a company that is registered in St. Vincent and the Grenadines, yet there is no mention of a regulation or a license. We checked the Terms and Conditions ourselves and were left empty handed.

Even if the company is registered in St. Vincent and the Grenadines, it makes no difference. What matters is the fact that SVG does not regulate Forex and CFD brokers, meaning that that Gntcapital is UNREGULATED, and probably a well thought off scam.

We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.

The leverage value has not been made available for anyone to view. The only exception is found in the FAQ:

As for the spread, there are a couple of sources. The first one are the live quotes on the Home Page, giving us EUR/USD spread of 0.1 pips:

This is highly irregular, and almost no broker offers such a low spread without including commissions. This low a spread in an unregulated broker is surely a luring device. Nothing more.

The other spread we got was from the Metatarder4, which was 0.9 pips:

And the last piece of information concerning the spread value can be found once a user is registered. On the personal dashboard there is another trading platform that indicates a EUR/USD cost of spread of 0.2 pips. Again, this is hard to believe seeing the circumstances.

The trading instrument offered are currency pairs, stocks, spot indices, futures, spot metals and spot energy. However, there are some discrepancies when comparing what the broker says they offer, with what the platforms offer. For instance, the Metatrader 4 offers only forex pairs. It matters little for this broker is clearly not concerned with the interests of those who invest in it.

The website can be opened in English or Spanish.

GNTCAPITAL LOGIN

Things get slightly complicated with the platforms. There is the classic MT4 plus a proprietary platform, plus two other platforms that we couldn’t access.

METATRADER 4

Metatrader 4 still holds on its own when it comes down to delivering what is necessary. The functionalities are all there including drag and drop charts, user friendly accessibility and pending order types. With MetaTrader 4 you can set automatic trading bot to do your deals for you while you preoccupy your time with different activities.

The leverage reaches a maximum of 1:200 (if we are to trust the broker), while the EUR/USD spread is 0.9 pips.

We opened a demo account on the desktop trader. The broker claims that there is both Apple and Android support. There is not browser MT4 trader.

G-TRADER

This seemingly proprietary platform is lack luster in quality and quantity. Users have some options for optimization but that’s all. There are pending orders at least. We recommend users to get on with the MT4 platform.

The spread is 0.2 pips. As mentioned this is very hard to believe since even the most prominent of brokers do not offer such advantageous spreads without including a commission.

The platform is only browser based.

OTHER PLATFORMS

The two other platforms we could not access. The first one is a Metratrader 5 which we were able to install but were not given any log in details.

The second one is found on user’s personal dashboards, called Advanced Trader. However it was inaccessible.

COMMISSIONS

There are some commissions that are made unclear on purpose. This is a regular tactic used by unlicensed brokers; an ambiguous statement that can be interpreted in many ways, some that justify the extra charges.

GNTCAPITAL MINIMUM DEPOSIT

The minimum deposit according the FAQ is $50

However, on the depositing section on the personal dashboard one gets the ability to go below $50, even reaching a sum under $0.

As for the funding methods, the above shown depositing section is pretty clear: Credit Card, Neteller, Neteller Go, Skrill, Crypto and STP.

We insist on pointing out Gntcapital’s obscure nature, and by that we mean that it’s most certainly a scam. These types of operations only prioritize digital drainage of unsuspecting investors. Brokers with proper licenses from the FCA and CySEC (among others) operate in ways that put the trader’s security of funds and personal information as a pivotal priority. These agencies are the top non-US financial license issuers, which should give you an idea of the brokers working under their oversight.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

This broker does not warn about CVV codes meaning that at some point they might ask you for it for whatever absurd reason they come up with. Never give away your CVV code without first making sure that the broker is regulated by an efficient agency. By giving away your Card info with the CVV code to some unconfirmed person you are literally giving access to your funds, and if these details fall into the wrong hands, rest assured that your bank account will be promptly emptied.

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

It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These softwares allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

GNTCAPITAL WITHDRAWAL TIME AND FEES

As far as our research tell us, there is no minimum withdrawal amount. This is common with shady brokers.

Processing time have not been indicated.

ADDITIONAL FEES AND TAXES

The inactive account fee is charged after 6+ months of inactivity. The user is then taxed with $50. The usual dormant account tax should not exceed the $30 mark.

Unlicensed brokers utilize smartly crafted tactics to keep you as invested as possible into their schemes of deception, including the introduction of previously non-existent fees. Other ways of draining even more from traders is either by finding or creating loopholes in the T/C, by reassuring that the more you postpone your withdrawal the better the chance of quadrupling your initial investment, or just asking for more deposits.

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 this to build a stronger case against you in the event that you request a chargeback.

The most important thing to note is that this broker will not return your deposit, nor will it pay your winnings. It never had this intention in the first place. The best advise is to walk away from it, and go straight for a regulated broker. The FCA and CySEC are the top non-US license issuers, and those under their gaze are bound by the law to put the security of users’ funds as pivotal priority.

HOW TO RECOVER

Don’t delay, and file for a charge back ASAP with your bank or credit card company, but also ask them what the situation with your current account is.

If you have given a CVV code to the broker, be sure to cancel your credit card as soon as possible, because the broker will not delay with draining every cent from it.

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

GNTCapital clearly not to be trusted. Not only is it based in a country that has numerously stated that it does NOT regulate the forex market, but it’s base of operation is clumsy and does not function properly. Don’t waste your time with GNTCapital. Keep away!