Table of contents
In the FX business relying on simplicity and esthetics is not nearly enough to be taken seriously, let alone compete. IndigoCapitals.com's obvious reliance on these to minor sides are its downfall, because it seems that it has put all its focus onto them. The following review reveals the consequences of such an impasse.
First and foremost, we have a very dire situation with the official address of the company. Saint Vincent and the Grenadines is the one place in world where there is an unsurpassable congregation of unlicensed and scammer brokers. Local laws allow it, and there is no FX regulator to demand a legal conduct. It's a win-win situation for fraudsters.
We do not doubt that IndigoCapitals.com is registered in Saint Vincent and the Grenadines, we just condemn it for it because in all reality it's a pretty useless position to be in.
One thing is for sure though; IndigoCapitals.com is not licensed in Saint Vincent and the Grenadines.
There is no further information concerning the legal status of IndigoCapitals.com. The broker keeps its guns close to the Caribbean nation, and offer no alternative. Thus, we have no choice but to label this company unlicensed and a risk to all.
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).
Next, we move to arguably the second most important part of any review: the account opening. After an easy and simple registration we were sent over to a very familiar user area, one used by a ton of unlicensed brokers. However our account was still not approved, and after a while we figured it would never get so. After all, we are no investors!
So, we are left with the website of an illegal broker. Should we trust it with both trading and payment details? Absolutely not, but what choice do we have?
The basic leverage, for the Starter account, is 1:200, while for the Premium one it can go as far as 1:400. The available trading instruments are stocks, commodities, indices, and forex currency pairs. And there are no spread values revealed.
The co-called “award winning trading platform” was nowhere to be seen. No download links exist to justify all the hype, and while the broker presents Android, desktop, and web trader claims, in reality these are completely useless.
Overall, we can say that there is no trading software. However, the user area, as we remember form previous brokers, does have a simple web trader.
In any case, we can't be sure of our conviction, and even if users were to somehow access this web trader it would still not be a redeemable feature.
INDIGOCAPITALS.COM MINIMUM DEPOSIT
Investments are futiel here. They will be lost!
There is no min deposit requirement revealed anywhere.
And as for the payment methods, the only details we have are from a bunch of logos of credit cards and debit card companies, wire transfer, and China UnionPay.
Nothing on the site is stables as safe or certain depositing information.
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.
INDIGOCAPITALS.COM WITHDRAW TIME AND FEES
The website claims to charge no fees for anything, although we are not exactly sold on this claim considering that the broker is unregulated. Such entities can openly lie about anything.
All withdrawal requests are processed “within the first 30 days of an account being opened” according to terms and conditions. Is there any logic to this statement? Does this mean that a user has to file for a withdrawal after a maximum of 30 days since his initial deposit, otherwise he loses the right to withdraw? There is no telling.
The minimum withdrawal amount is $50, again as read from the terms and conditions.
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!
Whether you believe these claims or not, one thing is for sure. The broker is a complete scam and a risk to all!
IndigoCapitals.com compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines