EliteCrypto Capital Exchange Review: FCA Exposed Scam
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EliteCrypto Capital Exchange Review
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Regulation
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Fund Safety
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Withdrawal and Deposits
Summary
EliteCrypto Capital Exchange mainly targets United Kingdom Citizens. The Financial Conduct Authority (FCA) has blacklisted the website. Moreover, the agency does not authorize the trade of crypto derivatives.
EliteCrypto Capital Exchange Group is a company that promises investors high-income growth. All you need is to take a leap of faith and risk some amount. The entity allegedly uses state-of-the-art tech in crypto trading. The platform also chooses top-performing assets for customers. Now, before you buy into their narrative, take time to read our unbiased review.
The scheme claims to offer the best crypto education to investors. However, there is no course outline or learning material available. Therefore, we cannot guarantee that the information is authentic. There are many variable free resources on the web that you can check out instead of wasting money on a bogus platform.
EliteCrypto Capital Group’s warning from a reputable financial watchdog is the biggest red flag. Nonetheless, the scheme tried to sway traders with false claims of legally being in business. The bottom line is that this is an unreliable scheme.
Elitecryptocapitalexchange.com Review
EliteCrypto Capital Exchange entices customers with promotions and bonuses. Multiple regulators ban these incentives in the market. Most schemes scam investors their hard-earned money by imposing unrealistic trading conditions.
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The venture also promises protection of funds. It is a bold claim coming from a scheme that is working independently. The platform fails to mention the means it uses to keep money safe. Usually, investment companies work with top-tier 1 banks to keep investors’ funds safe.
They use a copy trading strategy whereby rookie traders can copy the strategies of expert traders. There is nothing wrong with the method. However, considering EliteCrypto Capital Exchange is a rogue enterprise, they might deliberately lead you in the wrong direction. You will end up making losses by choosing a trader who isn’t even qualified.
Invest wisely by choosing reputable crypto companies. These are trustworthy and genuine entities with solid trading history. You can also check out their customer reviews and learn more.
EliteCrypto Capital Exchange Trading Conditions and Accounts
The broker misleads investors that it utilizes top-notch trading software. There is no MetaTrader interface or a download link. The only thing the scheme has is a web-based interface. Despite claims of access to multiple products, we cannot fund any currency pairs. They have five trading accounts.
However, these packages fail to showcase the available leverage and commission. They only advertise deposit bonuses and unprofitable spreads of 1.9 pips. The minimum acceptable deposit is $2,000. The limit is extremely high, considering there is no trading happening.
Withdrawal and Deposits
EliteCrypto Capital Exchange lists payment methods such as FasaPay, WesterUnion, Neteller, Skrill, Okpay WebMoney, QiWi, Perfect Money, UnionPay, Litecoin, Visa, and credit cards. We cannot verify if you can use all the above options. However, you must stay safe and refrain from dealing with rogue schemes.
If you accept their fat bonus, you must meet a trading volume 20 times the bonus you accept and the deposit made. This would be impossible, and scammers use the trick to retain your cash. Also, Ponzi schemes inflict hidden charges on traders.
Regulation Status of EliteCrypto Capital Exchange
EliteCrypto Capital Exchange mainly targets United Kingdom Citizens. The Financial Conduct Authority (FCA) has blacklisted the website. Moreover, the agency does not authorize the trade of crypto derivatives.
The law requires brokers to report daily transactional reports to the regulators. However, scammers avoid acquiring a license since their operation would be exposed. Therefore, they choose offshore regions but fake being based in developed countries.
The FCA has a capital requirement of 730K EUR for all brokers based in the UK. Investors also stand a chance of receiving compensation if the company faces insolvency.
Final Verdict
EliteCrypto Capital Exchange is a shameless Ponzi scheme. Their promises are vague and unattainable. Ensure you choose a transparent and genuine crypto company. Such platforms work with professionals. You can also rely on their customer support.
