Cardano Capital Review: Cardano-capital.de Shady Firm

Cardano Capital tries to win over customers by promoting its adherence to regulatory requirements and recognition, but it fails. In fact, there are no authorities governing the website. This is the case even in Germany, which was an obvious red flag for us. Ignore this shady broker and instead trade only with regulated, honest crypto brokers.

Trading cryptocurrencies involves buying and selling them on an exchange or to speculate on their value changes using a Contract for Difference (CFD) trading account. Trading CFDs is a form of derivative trading that allows investors to bet on the price of cryptocurrencies without actually having to acquire any of the coins themselves. If you believe the value of a cryptocurrency will increase, you can “go long” (buy), whereas if you believe the value will decrease, you can “go short” (sell).

They are leveraged instruments, so with a relatively little margin deposit, you can get substantial exposure to the market. Leverage will increase the magnitude of your gains or losses, depending on how they are calculated relative to the total size of your position.

Those interested in crypto trading for the first time should do so through a cryptocurrency broker. Knowing which broker to choose can be an essential part of the whole experience in the sector. This applies whether you’re an experienced trader looking to expand your portfolio or a new investor looking to get their feet wet.

A cryptocurrency brokerage facilitates transactions in the bitcoin market. Brokers act as a go-between for you and the actual bitcoin exchange. This broker acquires and trades massive quantities of cryptocurrency tokens.

About Cardano-capital.de

From their website, we gathered a few claims. First is that they are an award-winning crypto broker. They have, however, not mentioned who has awarded them or even elaborated on the award. This was a red flag. The broker also has an automated trading system.

The firm says you can trade ETFs, indices, shares, and cryptocurrencies. They claim to have more than 16,000 markets with over eight years of experience.       

Founders and Team

We could not find information about who started the company. They say it has been in operation for eight years. This means they started the company somewhere in 2016. One of the ways these scammers operate is by hiding information about their founders and leaders.

The anonymity allows them to perpetrate fraud and steal from unsuspecting investors without fear of being tracked down and held accountable. Furthermore, hiding this information makes it difficult for investors to conduct due diligence on a company before investing. It becomes nearly impossible to verify its credibility and track record. This makes it easy for the scammers to take advantage of unsuspecting investors and steal their money.

Additionally, by hiding their true identities, scammers can also more easily create a false sense of legitimacy for their company. They can use fake names, addresses, and other information to make it appear as if their company is legitimate and trustworthy. The brokers can also create fake websites, social media accounts, and other online presences to further their deception.

It is important to note that not all crypto and forex brokers who hide information about their founders and leaders are necessarily scammers. However, it is crucial for investors to be aware of this tactic and to exercise caution when considering investing with a company that is not transparent about its leadership.

Contact Details

The broker has provided an email, phone number, live chat, and physical location. They seem to be located somewhere in Germany. On their website, they have provided information in both English and German. The broker is therefore targeting German clients.

Since this broker is a scammer, we have strong reason to believe that this information is false. The broker is probably lying about this location. Today, the internet has enabled people to work from home. The broker could be operating remotely while giving a false location to make them seem legit.

Regulation Status of Cardano Capital

Cardano Capital claims to be regulated by the Securities Exchange Commission. However, when we checked the government database, we could not find the broker’s name. The broker is misleading us by claiming to be regulated. It is up to no good and craves your money more than anything else.               

There are several dangers associated with trading with an unregulated crypto broker. One is a lack of oversight. There may not be regular inspections or audits of unregulated brokers to guarantee that they follow the rules.

There is also no consumer protection. Unregulated brokers are not obligated to safeguard their clients’ money. One way they should do this is by, for example, keeping client monies in a separate account or obtaining insurance.

Investors’ money may therefore be at risk if their broker goes bankrupt or commits fraud. The failure to disclose financial information makes it difficult for traders to assess the broker’s legitimacy.

Customer Reviews

One of the ways to gauge the reputation of a broker is by reading customer reviews. A broker with no customer reviews can be a red flag and a sign that you should not trade with them.

Without customer reviews, it’s difficult to know what to expect from the broker. You cannot tell whether they have a history of providing a good service. This lack of information can make it harder to evaluate the integrity of the trading platform and can put your investments at risk.

Brokers with no customer reviews are not subject to the same level of scrutiny as those with a proven track record. This is why it is important to do your due diligence on the broker before opening an account.

Furthermore, trading with such a broker may also put your personal information at risk. These shady brokers may not have the security measures to protect sensitive data.

Trading Conditions

Cardano Capital seems only to support cryptocurrency pairs. The broker has made some excellent promises on how you can trade various instruments. However, we realized that their options were limited. If the broker were legit, they would have offered multiple instruments for traders to have variety.

Their account types have unreasonable trading conditions. The minimum deposit is €10,000, and the highest is €1,000,000. These conditions are unfavorable for many retail traders.

The broker has also promised daily crypto signals. This may sound like a good thing, but it is not. The market can sometimes be very volatile, and the signals misleading. It is risky to trust signals, especially from a broker.     

Deposit and Withdrawal

The broker accepts payments via VISA and cryptocurrencies.  Many shady brokers ask traders to use cryptocurrencies because they are easy to get away with. They know most of these transactions are irreversible and hard to trace.       

The broker also offers bonuses. Regulators in Europe do not allow these bonuses. Most brokers include some fraudulent Terms and Conditions to scam traders. Cardano Capital has such a condition. To be able to withdraw a bonus, you must first reach a turnover of 30 times the bonus amount. Until you accomplish this massive turnover, the broker will effectively restrict you from withdrawing your money.

Final Verdict

Cardano Capital is a scam broker. Despite their claims to have won many awards and recognition, they are scammers. You must not trust them with your money under any circumstances. There are, however, numerous honest and trustworthy crypto trading brokers you can work with.

As a trader, always do a background check on a broker regardless of their promises. Many seem legit, but they are scammers. You should never work with a broker who promises unrealistic returns or promises high bonuses. These are primarily tricks to lure you.           

 

Tags: Cardano Capital Review, Cardano-capital.de Review