City Credit Capital: company overview, reviews on the “dark horse” of the Forex market
How to recognize a forex market scammer
The forex broker City Credit Capital, apparently, does not demonstrate full transparency in its activities, which may be a signal of potential dishonesty. Reviews from clients of the researched resource cccapital.co.uk indicate that the firm seems more interested in misappropriating traders’ funds rather than providing fair services. In light of this, it may be advisable to review an analytical overview of the forex broker City Credit Capital before deciding to partner with them.
Key information about the company
Representatives of City Credit Capital claim to provide the best earnings conditions, offering round-the-clock access to financial markets (Forex trading and CFDs). However, the actual situation may be different: it is presumed that the company merely simulates successful trading to maximize profits from clients. The company has been in operation since 2001.
The website cccapital.co.uk offers an “About Us” page, where the agency details the advantages of collaboration:
- Strict compliance with laws,
- Assistance from qualified specialists,
- Use of cutting-edge technologies.
Such statements likely only entail general promises and may attract only newcomers to this field. Concrete information on the official City Credit Capital site is essentially absent.
Review of contact information
According to the company’s official information, City Credit Capital’s headquarters are located in the UK at 12th Floor, 110 Bishopsgate (London). Additionally, the forex broker has offices in São Paulo and Hong Kong. It is worth noting that there are no City Credit Capital offices in Russia, meaning that in case of issues, traders are only required to contact via the email address customerservice@cccapital.co.uk or call the provided phone number +44 (0) 20 7614 4600. However, our attempts to make contact were unsuccessful, with only long ringing tones from the receiver.
Regarding regulatory activity, City Credit Capital holds license 232015 from the FCA, a reputable regulator in the UK. However, for Russian-speaking traders, it is crucial to remember the absence of permission from the Central Bank of Russia, indicating the company’s illegal activity in the Russian Federation.
Detailed look at the cccapital.co.uk resource
Client reviews note the convenience of using the website cccapital.co.uk. They highlight the user-friendly interface and concise design of the official portal, as well as the multilingualism of the City Credit Capital platform, including Russian, Chinese, and Spanish. However, some users encounter issues with automatic language switching, and the Russian translation remains unclear.
The site’s structure is logically organized, facilitating the search for necessary information. Apart from the main resource cccapital.co.uk, the company is active on social networks (Twitter, Facebook) and has its own YouTube channel, but user engagement is low, with the latest video on the channel posted over 6 years ago.
Evaluation of trading conditions
City Credit Capital claims a variety of services in the financial market but practically offers only 2 types of accounts:
- Mini: Minimum deposit – $500, which is quite significant for beginners. Leverage and minimum step are not clearly specified.
- Standard: Minimum deposit is $5,000, and other conditions are comparable to the “Mini” tariff.
The site also includes PAMM accounts, but information on trust management conditions is absent on the website, requiring inquiries to customer support for details. Conditions are introduced along the way, hindering their publication on the official resource.
Main trading instruments on the platform:
- Currency pairs,
- Precious metals,
- Indices.
Participation in commodity deals is “upon request,” as well as access to PAMM accounts, which are only available after contacting City Credit Capital’s customer service. A demo account exists, but its usage is limited to 30 days and is accessible only after registering on the platform. An unauthenticated user cannot conduct trial trades without registration.
Also, see:
- Review of the scammer PSB Forex’s activities, reviews,
- Analysis of the broker SiriusFN’s operation, client opinions.
Detailed view of trading platforms
The forex broker City Credit Capital offers the use of MarketsTrader. This terminal has a good reputation due to a wide range of technical analysis tools and the ability to customize the interface. There is also an alternative version for devices – iMarketsTrader.
Review of deposit and withdrawal methods
The list of available options for depositing and withdrawing funds on cccapital.co.uk is limited to:
- Bank transactions,
- MasterCard, Visa,
- Payment systems Neteller, Skrill.
User reviews about City Credit Capital
The network is saturated with negative opinions about the cccapital.co.uk resource. Clients complain about unsatisfactory support work, issues with fund withdrawals, periodic malfunctions that hinder successful forex market trading operations. Let’s conduct a more detailed examination of user reviews.
The first review confirms the company’s dishonest practices. One trader known as Goter reports that due to City Credit Capital, he lost his apartment and $17,000 received from its sale. He urges other users not to engage in business relationships with cccapital.co.uk.
User silvy in their review notes the unacceptability of the behaviors demonstrated by the scammers at City Credit Capital. In their opinion, such companies should be shut down.
An investor complains about their inability to withdraw funds. After contacting customer support, requests were disregarded:
Conclusion on cccapital.co.uk review
After analyzing the activities of the forex broker City Credit Capital, we have concluded that the widespread negative statistics are justified. The company conceals information, preferring to attract clients with shining promises. The list of shortcomings includes:
- Absence of a license from the Central Bank of Russia,
- Ignoring client requests,
- Delays in payments (or their complete absence),
- Service agreement exclusively in English, complicating understanding for Russian-speaking clients.
We do not recommend collaborating with the company City Credit Capital, given its dubious reputation.
Author: Anastasia Chabanyuk