Trap for Investors: Capital First Finance Ltd
Financial scammers often follow pre-planned scenarios. As soon as their scam is exposed due to accumulated negative feedback, they simply launch another fraudulent project. Changes are made only to the company name, while everything else remains unchanged, including legal documents, legend, and terms of cooperation. Today we will discuss Capital First Finance Ltd, another cloned representative of this kind.
A Brief Report on Capital First Finance Ltd
According to reviews on independent forums, Capital First Finance Ltd is simply a clone of Trust One Financial Services Limited, which has received numerous negative reviews. We decided to verify this information. An attempt to open the Trust One Financial Services Limited website failed as it was blocked by Roskomnadzor on suspicion of fraud.
However, we have a screenshot from the trading platform that was used by Capital First Finance Ltd. Interestingly, the scam simply copied it. Here is a screenshot from their website:
And a comparison with the predecessor platform:
See the difference? Doesn’t it look too similar? Even the legend remains unchanged. Their website claims that the company has been in existence since 2017 and has more than a million clients from 50 countries worldwide. But that’s far from true! Checking reveals that the website domain was registered on March 16, 2021 (hence the reviews are just starting to appear).
Now, let’s talk about accreditation and licensing. Their internal documents indicate that the company is regulated by a British office. We managed to find a record of a company with a similar name – Capital First Finance Ltd – in the UK registry, created on March 19, 2019. At that time, our fraudulent organization did not even exist! Presumably, scammers simply stole someone else’s data.
The scammers do not have a brokerage license. They do not have permission from the Financial Conduct Authority or the Central Bank of Russia (although they are targeting Russian traders, so approval from the country’s main regulatory body is necessary).
Regarding contact information, everything is clear. The fake broker does not provide phone support, online chat, or social media pages. This is their intention to avoid constant monitoring of negativity and unnecessary questions. They only offer a contact form, hiding their true intentions.
What Does Capital First Finance Ltd Promise?
According to reviews, the promises will only convince the gullible. All the claims are pure truth designed to attract trusting traders:
- safe investments,
- deposit insurance,
- no fees for deposits,
- generous bonuses,
- credit and much more.
The scam offers a manipulated UTIP trading terminal, which has received many negative reviews. Traders claim that this software resorts to fraudulent manipulations.
There is no demo account, you have to invest money immediately. Considering the rules laid down within the company, your chances of making a profit are minimal. You will not be able to retrieve your initial deposits or withdraw remaining funds. Scammers will find a million reasons not to pay out the funds.
Trading accounts are described as follows:
- “Start”. Initial deposit – $100. Promises a bonus of up to 50% of the deposit, consultations with a financial analyst,
- “Silver”. Requires $2,000 to open. Bonus up to 100%,
- “VIP”. Minimum deposit – $10,000. Bonus 120%, accelerated withdrawal of funds, individual account review (30 minutes every week), insurance account,
- “Platinum”. $50,000 is the minimum deposit. Priority fund withdrawal, development of a personal strategy, exclusive tools for VIP traders.
Reviews of Capital First Finance Ltd
The first customer reviews of Capital First Finance Ltd have already appeared. And right now, traders are accusing the company of fraud:
A similar story happened with the predecessor of this pseudo-broker:
How Capital First Finance Ltd Operates
Scammers follow a standard scheme. They lure newcomers with promises, bring in a “professional analyst” who helps them lose their deposit. Your empty wallet won’t help. Arguing and demanding your money back is pointless; the company is absolved of responsibility for client losses.
Conclusion
An analysis showed that Capital First Finance Ltd is just an updated version of an old scam. Experienced scammers know how to deceive people for money and are determined to fill their pockets until they are immersed in a network of negative reviews.
I had a horrendous experience with Capital First Finance Ltd. Their lack of transparency and hidden fees made the whole process quite stressful. The brokers were unprofessional and showed a near total lack of understanding of my financial situation. They clearly prioritized their company’s profits over my best interests. The poor customer service and the lack of empathy were startling. Even after numerous attempts to reach out and resolve issues, my concerns fell on deaf ears. The overall process was long, daunting, and impersonal. I strongly recommend looking elsewhere for your financial needs. Their business practices are questionable and the overall service is thoroughly disappointing.