FiveRings Capital (5ringsCapital): reviews and broker overview
Evaluation of FiveRings Capital
FiveRings Capital (5ringsCapital) is a well-known company that promises a wide range of financial services. Traders are promised a unified account with multifunctionality and access to trading more than 300,000 instruments here. However, it is not advisable to trust this company outright, as the reviews about it are mainly negative. Let’s figure out who FiveRings Capital is and why there has been a wave of negativity towards them.
FiveRings Capital Company Page
FiveRings Capital has a fairly modest website with insufficient information about trading conditions. However, there is some information about the company. According to them, they already have over 400 employees, as well as more than a dozen offices in various countries in Europe and Asia. The company claims to operate in accordance with European legislation and compliance standards. However, there is no roadmap or list of achievements, so it is impossible to accurately say how long FiveRings Capital has been in operation.
Checking the domain registration date suggests that this project is a newcomer to the market. The site was launched only in October 2021, and since then there have been reviews online.
Despite promises of round-the-clock support, the broker lacks sufficient contact information. Company representatives are only available via Telegram and a fake phone number.
License and Registration Verification
FiveRings Capital claims to operate within the law and provides a legal address: 15 St. Botolph Street (London). There is also a link on the site to a registration certificate – OC389722, verification of which in the Companies House database confirms its authenticity.
Furthermore, the company is licensed by the British regulator FCA (624588).
However, all these details belong to a real broker with a similar name. The actual website of this company is fiverings.com. Roskomnadzor has already identified the fraud of FiveRings Capital and blocked their website. The Central Bank of Russia has also identified FiveRings Capital as a fraudulent organization and does not recommend doing business with them.
Deception of Investors and Traders
According to reviews, FiveRings Capital has a unique trading terminal, but their activities are criticized for software manipulations. Transparent information about trading conditions is not provided on the website, which raises doubts among clients. The company only mentions access to over 300,000 assets without details on commissions and other key metrics.
- Access to trading 300,000 assets (currency pairs, spot metals, options, funds, futures, etc.),
- No subscription fee for opening and maintaining an account,
- 24/7 support,
- Extensive instrument base,
- Transparent commission policy,
- Extensive educational base,
- Opportunities for algorithmic trading.
On the flip side, there is a lack of information on deposit/withdrawal methods, raising suspicions among real clients of FiveRings Capital about the honesty of their operations.
Reviews and Deception Mechanism
Reviews about FiveRings Capital highlight numerous negative aspects and the company’s dishonesty. Scammers use legal documentation from other companies to conduct scams with investors. Their deception methods are quite sophisticated: they convince traders to invest funds, creating an illusion of profitable deals. When a trader realizes the fraud, their account is blocked, and the money goes to the scammers.
Conclusion
Collaborating with FiveRings Capital can only lead to financial losses and difficulties. Scammers use cunning and false information to deceive both beginners and professionals. Stay alert and avoid such dubious companies in the financial sphere.