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CoreGeneric Capital Review
Nothing on the website suggests this is real, and the regulator also knows nothing about any company called “CoreGeneric Capital.” This only shows the company is a scam. If it were legit, the Polish government would know about it. Before a forex broker can be allowed to offer its services,
It might seem like a simple business when you first look at the foreign exchange market (forex or FX market). After all, it’s just money changing hands in different currencies, right? Well, not exactly. The forex market is one of the most heavily vulnerable to manipulation markets in the world. With billions of dollars being traded every day, there are plenty of opportunities for unscrupulous traders to take unfair advantage of their counterparts.
Forex scams appeal to the greed of individuals due to the large sums of money involved and the market’s volatility. Despite strict regulation measures, some old scams persist, and new ones keep appearing. This does not, however, mean that there are no reputable, honest, and trustworthy forex brokers. There are many, and you can trust them with your funds.
Among the scam forex companies is CoreGeneric Capital. This broker appears legit, but nothing can be further from the truth. It is one of these forex trading companies masquerading as financial experts while, in the real sense, they are just shady dealers.
According to cogenericcapital.com the company claims to facilitate international money transfers and Forex trades. They purport to have a cutting-edge online FX transfer platform offering competitive exchange rates. Over the years, the nation’s largest banks have amassed considerable profits in the currency conversion market thanks to huge profit margins that cut straight into the bottom lines of importers and exporters across the board. Supposedly, however, when you work with CoreGeneric Capital, you’ll have access to pricing that rivals or beats the competition. They also claim to offer FX hedging strategies and overseas property investment education.
The lack of legal documentation contradicts the firm’s claim to assist its customers. Its goal is much different from what it claims. It should have Terms and Conditions that customers can read before agreeing to sign up for their services. Any caring company should do this. It should protect the customer’s funds and ensure they understand all the risks involved in forex trading.
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Founders and Team
Instead of giving information about the company’s background, the firm talks about the reason for its formation. It purports that a group of experts in the financial markets came together to launch it. Their goal was to develop a business model that would transform how people and businesses deal with foreign currency payments. Also, they wanted to help them mitigate the risks inherent in such dealings. Ironically, such a company would have the audacity to claim it wants to help people avoid risks. As noted, the company does not say anything about its founders or who runs it.
Contact Details of CoreGeneric Capital
Including legit contact information is the minimum an organization can provide for its customers. Participants need to know the headquarters of the firm. This broker has provided an email, phone number, and physical address. However, these details are not legit since the firm isn’t either.
Reputable companies even provide social media platforms where customers can reach them. It’s not a good idea to give up your personal information to strangers like this company. You risk having the fraudsters use the information they obtain against you.
According to whois.com, the company website was created on 2022-07-16, updated on 2022-08-08, and expires on 2023-07-16. There is something fishy about this company. Having a functional website for only one year means they applied for the least amount of time possible. We bet they could have gladly done it if it was possible to register for only one month. They want to register for one year to ensure they’re out of the market when things happen to go south. The platform does not want to be around for long for people to be suspicious of them. They would have registered their website to operate for at least five years if they were legit.
Regulation Status of CoreGeneric Capital
The moment you access the broker’s website, it loads a picture of the UK House of Parliament in London yet lists an address in Poland. This is ironic. The company’s Polish address would suggest that Polish laws govern the firm. If we assume for a moment that CoreGeneric Capital is a legit broker, it must have a valid license issued by the Polish Financial Supervision Authority (KNF).
Nothing on the website suggests this is real, and the regulator also knows nothing about any company called “CoreGeneric Capital.” This only shows the company is a scam. If it were legit, the Polish government would know about it. Before a forex broker can be allowed to offer its services, it must meet some requisite requirements. It must prove that the customer’s funds are safe and can the company can compensate them in case anything goes wrong. This company does not meet any of the legal requirements.
Regrettably, it would be a significant setback if these scammers were to steal all that money. If you sign up with an unregistered broker and put your money there, you’re just wasting it on something illegal. Because of this, we advise our readers to work exclusively with licensed brokers. There are several regulations governing licensed entities; many of these involve financial compensation programs and anti-fraud procedures. That is to say, they stand for the exact opposite of what this broker and others like it do.
The company has MT5 trading software compatible with a PC and a phone. However, we could not even use them because it was impossible to get login credentials. We could not even find the apps on Google Playstore or the official Apple stores. Furthermore, the company has not provided its users with a demo account. This is one of the most critical areas of concern in trading. A good broker should allow you to practice on a demo to gain enough confidence to trade with real money.
CoreGeneric Capital Trading Conditions
Before entering a trade, it is crucial to understand the current market conditions fully. These are the spread, leverage, minimum deposit, and commissions. These influence a trader in deciding which broker to work with. Traders prefer brokers with lower spreads. However, you should be cautious about brokers that offer absurdly low spreads.
This firm, however, says nothing about such conditions. As such, though it has a trading platform, no one knows its requirements. It, therefore, means the company has no plan of facilitating trading. Once you deposit money, that’s it.
Deposit/Withdraw Methods And Fees
Unsurprisingly, no financial details have been entered anywhere on the company site. This company is an enigma and a fraud. Ignore it; you have no idea how much harm it could wreak. There are some fake testimonies from supposed clients who have worked with this company. Do not trust them. They cannot prove that they successfully deposited and withdrew money from the website.
CoreGeneric Capital is an untrustworthy forex broker. To entice potential investors, the company proposes a structure with what appear to be favorable terms.
There has been a lot of misinformation about the broker’s platform floating around the Internet. As a result, it has lost some of its credibility as an FX resource. Investor funds are in danger. The company’s lack of visibility contributes to the already-confusing situation for its customers.
Even if foreign exchange trading sounds like a great financial possibility, you should avoid joining dishonest trading sites. Trading foreign exchange is already too risky to work with scammers. Make sure you work only with trustworthy forex brokers.