The company FerratumCapital appears to be a very attractive broker, promising its clients favorable conditions and transparent execution of its obligations. According to the provided data, the organization has been awarded several prestigious awards for the years 2020-2021. However, caution should be exercised as behind the shiny facade, financial fraud may be lurking. Due to the lack of expert reviews and reliable feedback, traders should be particularly attentive when choosing a broker. In this article, we will examine the key aspects of FerratumCapital’s operations and objectively evaluate its performance.
Overview of FerratumCapital’s Operations
The FerratumCapital website does not specify the exact length of the company’s operation, but there is information about awards received in recent years. Additionally, the company reports the modernization of its trading system in 2020. However, an analysis of the domain history shows that the company’s experience is not as impressive as claimed.
The ferratumcapital.co website was registered only in February 2022, with the last update made in May of the same year. It appears that active promotion of the offered services started from this point.
The company conceals information about its management, indicating a lack of seriousness in financial responsibility towards clients. The only available means of contacting support is through email. Direct support via phone or online chat is not provided.
Regulation of Operations
FerratumCapital lists a legal address in Saint Vincent and the Grenadines. Many offshore companies use such addresses, which have gained a negative reputation.
According to the statement, the offshore organization managing FerratumCapital is Parity Group LLC, also registered in Saint Vincent and the Grenadines. However, several important facts should be noted. Firstly, the local regulator has limited powers and does not license brokers. This means that FerratumCapital’s operations do not have an official status.
Secondly, Parity Group LLC recently launched other pseudo-brokers, including Valextrade and SagicorFinance. These companies have already received negative reviews, and FerratumCapital is likely not an exception when it comes to honest fulfillment of its obligations.
Commercial Proposal and Terms
FerratumCapital offers over 300 trading assets on its platform, including currency pairs, stocks, indices, and commodities. Notable trading conditions include:
- Entry threshold – from 200 to 20,000 dollars;
- Minimum spread – from 0.5 to 2.5 pips;
- Leverage – from 1:100 to 1:300;
- Minimum trade volume – 0.01 lot;
- Trading signals;
- Educational base;
- Daily market reviews;
- Risk management;
- Trading advisors;
- Individual service;
- VIP support.
Considering reviews of other brokers affiliated with Parity Group LLC, extreme caution is advised. Reviews indicate issues with payments and lack of transparency in cooperation terms.
Client Reviews
Currently, there are almost no reviews about FerratumCapital online. This means that clients may face the risk of losing funds without sufficient information about the activities of the company under review. It is recommended to leave reviews and share experiences with FerratumCapital to help other traders make more informed decisions.
It is also advisable to review feedback about the broker ValexTrade, associated with FerratumCapital.
Nature of the Fraud Mechanism
FerratumCapital attempts to exploit the financial inexperience of clients for their own benefit. Promises of excellent conditions and personalized service may only be a false invitation. Fraudsters may use tools like AnyDesk to not only withdraw funds from the balance but also gain access to the client’s personal data. Seeking recourse from regulators is unlikely to result in fund recovery as scammers operate under the guise of the online space.
Conclusions
According to the assessment, FerratumCapital is an offshore scam organized by experienced fraudsters. Their activities are aimed at manipulating newcomers and trapping unsuspecting clients. It is important to remain vigilant and not fall for the promises of astronomical profits offered by this company. Such fraudsters are only capable of simulating trading without having a real asset for investment.
I am highly dissatisfied with the broker’s work as their performance in 2022 has been notably subpar with lackluster customer service and unimpressive financial returns.