Marquet Capital Details
Table of contents
One would think, seeing the lion sigil, that Marquet Capital is a force to be reckoned with. Our first impressions were misleading of course. Read on to find out.
The issues don’t take much to uncover themselves. First off, a regulatory status is nowhere to be seen. The footer mentions two entities. That the website is operated in Belize, and that payment methods are processed in the Marshall Islands. Let’s clear things out. Broker regulated in Belize fall under the jurisdiction of the The International Financial Services Commission (IFSC). Their main goal is to promote Belize as a financial offshore center while also providing the appropriate regulatory measures to support said endeavor. However, in recent years the regulatory agency has tightened its grip and has taken a more serious approach towards license issuing. For one, it requires proof of at least $500 000 capital before granting a license. Their efforts have resulted in them being known as the best offshore regulatory body. However it does lack the severity and confidence of other regulatory bodies such as the FCA or CySEC, as well as a compensation fund that guarantees a portion of traders’ funds if the company goes bankrupt. Needless to say neither Marquet Capital, nor their Golden Axe Capital Limited parent company, are registered with the IFSC.
As for the Marshall Islands, the only thing that concern us here is that the country does not have a financial regulator.
Our conclusion can be finalized: Marquet Capital is UNREGULATED. As such it presents a financial risk to traders.
The leverage value is ambiguous.
But is doesn't clarify if this is the actual leverage, or if the whole passage is just an example of how a leverage works.
We could not pinpoint the spread average either. There are no live quotes on the website, nor were we able to open a demo account to check with the platform.
The assets for trading are Forex pairs, Commodities, Indices, Shares and Cryptocurrencies. How much of these are current we cannot say for we were unable to register, thus the trading platform is without our grasp.
The languages that the broker has made available are: English, Spanish, and German.
We already mentioned that we were unable to register, mainly because the message that our country of residence was unavailable. Even a demo account was beyond our possibilities. And so we are unable to provide any details of a trading platform; we are even uncertain of if one exists. What’s more, is that the website not once mentions a platform of any kind.
MARQUETCAPITAL MINIMUM DEPOSIT
We could not find a minimum withdrawal amount.
The only info we were able to suck from the Terms and Conditions, for there is no Deposit Details page, is that funds can be deposited via Credit/Debit cards and Wire Transfer.
The absence of details is yet another proof of the shadiness of this broker. For safekeeping your money, we strongly advise to avoid all brokers who do not have a proper license from renowned regulatory bodies. Agencies like the FCA and CySEC stand out as some of the top license issuers in the world, notorious for their severe requirements and close relationships with the law.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
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
AnyDesk and TeamViewer softwares are double edged. For one, you provide complete access to your computer to someone else who, essentially, takes over as the new user. This can be helpful if the person with access is a friend, colleague, or acquaintance; or it can be devastating to your private information, including bank info, if you provide entry to someone with a shady background. Hence the double edge. Note that these softwares are 100% legal meaning that your approval will be needed if someone is to tinker inside your PC.
MARQUETCAPITAL WITHDRAWAL TIME AND FEES
There is no minimum withdraw amount written anywhere. We assume that the broker just didn’t bother including this since it is likely that they will never return your funds.
But if you wish to risk it, withdrawal times can take up to 5 days to process from the broker.
There are withdrawal fees that are purposefully made ambiguous.
ADDITIONAL FEES AND TAXES
The dormant fee is 10% of your account, if no trading has been detected within 6 months.
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. Be wary that they will probably come up with incoming fees just to keep you invested for as long as possible. Once you request a withdrawal they will deny it using some well formulated arguments, such as loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
Trustworthy brokers ask for ID and proof of address 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. With documents in the broker’s possession, they can easily refute any claims you might have against them.
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
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.
Any details you might have shared with the broker, most notably the CVV code, are sure to be used against you, thus you should swiftly cancel your credit card ASAP.
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!
Marquet Capital may have a lion as seal, but the kings of the jungle they are not. The broker is very limited in what it offers, not to mention that half the website is either incomplete or left blank. Add to that the absence of a regulation, and what you get is a broker best avoided.
Marquet Capital compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines