Beware! AccessGroupCapital.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
How many brokers we have seen like AccessGroupCapital.com we cannot count, but we can say for sure that we can immediately detect their illegitimate nature. No matter how well this one stands, and how good it seems to be, we cannot ignore the signs. Some readers might not see them, but that does not mean that they are not there. Just the home page has three obvious shady elements: the short stock video that is set on repeat, the third party chart, and the AnyDesk app. Read the review to discover more.
Thankfully we were able to register without an issue. We were led to a user area that mirrored the website in style. We had no issues when accessing the trading platform, where we could read a EUR/USD spread of 0.6 pips, which is amazing, with a 1:100 leverage. The available tradeable assets are indexes, shares, commodities, cryptos, and forex currency pairs.
The languages of the website are English and Russian.
ACCESSGROUPCAPITAL.COM REGULATION AND SAFETY OF FUNDS
The only solid piece of information that we are able to find is an address in the UK. The terms and conditions claim that the broker will follow the laws of the country in which it is registered. The contact address places AccessGroupCapital.com in the UK, so it must be that the broker abides by UK laws. This is hard to believe.
The FCA is the one who decides if a broker is worthy or not. Not only does AccessGroupCapital.com not mention being licensed by the FCA, but the FCA itself does not regulate the broker. And so, if AccessGroupCapital.com really is located in the UK, then it is offering completely illegal FX trading services.
The fact is that AccessGroupCapital.com is NOT LICENSED, given the fact that there is no info or proof of a license being held. Do not invest here, for all deposits are at a risk.
We always say that investing in unregulated brokers is a sure way to lose money. The first and foremost thing to do when picking a broker to invest in is to look for a license. Preferably look for FCA or CySEC regulated brokers, or other European watchdogs, or US ones. All legit regulators have long lists of rules and prerequisites that all brokers must abide by. Not doing so, will lead to penalties or foreclosure! Furthermore, many regulators have in-store financial compensation schemes for all users under licensed brokerages. For example, CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
ACCESSGROUPCAPITAL.COM TRADING SOFTWARE
The desktop trading software we did not download for two reasons. One- the download link did not bear the name of the broker. And two, we were warned by our operating system not to proceed with the download, because the publisher was unknown and so could pose a risk to our system.
The only alternative left is a shady looking web trader. We have seen this one before, on more than one occasion, and it is mostly used by illegitimate brokerages.
Its main features include stop/loss, take/proft, pending orders, times frames, and some very limited chart customization capabilities. And that’s all, There is nothing special about it. It mostly serves the purpose of being there in order to fill the spaces.
ACCESSGROUPCAPITAL.COM DEPOSIT/WITHDRAW METHODS AND FEES
The only payment method available to registered users is a credit card. The minimum deposit is unknow to us. According to the website, the minimum requirement for opening an account is €250, which is the common value.
The withdrawal section of the user area discloses that withdrawals are made through bank transfer and credit card. Withdrawal requests are processed within 2 days. We did not find any information on fees, but that does not mean that users shouldn’t be careful.
One of the most scammer clauses return. Basically, users cannot file for a chargeback. As you will read down below, a chargeback is one of the few ways through which a user can get back her money if defrauded. If a chargeback request is detected by the broker, it will freeze the user account!
All in all, AccessGroupCapital.com is a common type of scam broker. There is absolutely nothing special or new about it; it’s the same old story. Do not invest here, because you will definitely lose your money!
How does the scam work?
Online ads are the gateway to most investment scams. Ads that seem extravagant with quite impossible promises are most certainly the entry point into a scam. Gibing into one of these ads is the first step to being scammed.
The second step is to deposit. Once users click on the ad, they will be redirected to a scammer broker site or an intermediary website. What follows is a registration, where users will be asked to provide a phone number or a phone number.
Next, the scammer will directly contact those that have fallen for it. The first calls are made by the first level of fraudsters, the rookies. Their one and only goal is to compel users to deposit for the first time. Once a deposit is made, the user is hooked onto the scam.
The second wave of scammers, the core of the fraud, sometimes called “account managers”, will try to keep you invested in the shame for as long as possible. They might even pay some profits, just to keep you invested. The user will deposit an additional 2-3 times, which is actually the perfect scenario for these criminals. At some point, the user will realize he or she is in the middle of a scam
There are no more steps to the scam. The user has deposited as much as he or she did, and the fraudster have disappeared. The money is gone, and users cannot withdraw.
What to do if scammed?
If money was lost through a credit or debit card, the good news is that most credit card companies have an easy way of recovering money. Furthermore, MasterCard and VISA have a chargeback period of 540 days.
Wire transfer frauds, that is broker/investment scams, are harder to recuperate, but not impossible. The crucial thing to do is to change your bank account username and password! Aside from that, we advise users to contact their banks, because most banking institutions might have a plan on how to deal with money lost to investment scams!
Never invest in unregulated brokers through any sort of cryptocurrency wallet, no matter how good the returns sound! Crypto deposits are untraceable!
The last scam that users might stumble upon is in fact most of the time one that has nothing to do with the investment scam, although a potential relationship between the two is not excluded. We are talking about the so-called recovery agents or agencies. These will claim to be able to recover lost funds in return for a fee. After users pay this charge, they can kiss their money goodbye!
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