Scaptrade Review: Scaptrade.com an Illegal Broker

Scaptrade proclaims it is the leader in the market for BTC trading. Their main focus is to help investors earn passive income. The entity attributes its success to the use of technology. Additionally, the venture states it works with professionals. 

It would have been best if the scheme credited the team behind their success. However, the scheme is operating anonymously. This does not paint a good picture of them. Transparency is critical in every form of business. Furthermore, the regulatory bodies mandate brokers to present the names and qualifications of the financial analyst and managers. 

Scaptrade is a recently established entity. The information on Whois.com shows the website registration took place in March 2022. They are only a few months old. The broker targets being in the market for 1 year. This is a common feature with scammers. They exit the market prematurely after being exposed. 

However, this does not mark the end of their scammish journey. They will still come back using a different domain name. The only way to be safe from fraudulent schemes is to educate yourself on how the investment works. You must research an entity before making a deposit.

Scaptrade.com Review

Scaptrade is an offshore entity. It means the broker is not bound to any rules. Hence, they can do whatever they please. The platform fails to feature its trading results. There are far better schemes in the market with ideal trading conditions. 

The entity is dealing with volatile products. It is therefore impossible to know the next direction the market will take. Nonetheless, this scheme promises a high ROI. We are in the dark about the platform’s mechanism and technique. 

Before you become an excellent trader, you must understand the trading technique. Practice is also needed. It takes time to achieve this. Therefore, any company stating otherwise should be thoroughly investigated. We do not know the win rate and the drawdown of Scaptrade.

Here is a list of some fantastic forex trading companies. These brokers are reputable in the market. Several traders have tried and tested the scheme. Their terms and conditions are clearly outlined. Hence, users can make a sound decision before registering. 

How Does Scaptrade Operate?

Scaptrade purports it is the broker in the market. However, the traffic visiting the website is not much. They even claim to be whatever other trading institutions are not. The scheme lacks a trading history or a performance record. Therefore, anything they say is to entice potential clients into joining their firm. 

The venture deals with stocks, forex, commodities, EFTs, and stocks. Their portfolio allows clients to diversify their risk. You can trade on multiple products without restriction. The venture state it has the best choices in the market. 

Scaptrade claims it has won over 11 awards. However, it leaves out the organizations’ names that recognized them for the trophies. Moreover, we also do not know the awards the broker has. The entity is only fabricating information to appear like a good venture. 

The only thing to expect from them is a disappointment. Investors cannot attain their financial goals with an ambiguous platform. The registration process is swift and easy. You need to choose an investment plan and deposit cash. Your dream of becoming a top-notch trader will be shattered. 

Trading Conditions of Scaptrade

Scaptrade state it has made over 49K users successful. Clients receive trading strategies and superior services. The entity provides users with leverage of 1:100. The limit is beyond what some of the jurisdiction allows. USA allows caps the leverage at 1:50, while in the UK, it is 1:30. These are some of the areas the firm is accepting customers from.

The broker promises both MT4 and MT5. Sadly, users can only use the web version. However, if you complete the registration process, you will notice the features of the scheme are limited. You cannot trade with the bogus venture. 

Reputable brokers that use MetaTrader overall do best in the industry. Investors can trade automatically. They have access to the economic calendar. They can also set stop limits and sell stop limits. The indicators are charts advanced. The advantages of the software are extensive. 

Scaptrade has three trading accounts. The firm does not follow the example of legitimate firms. They fail to indicate the features of each package. It instead provides different pricing and expected profit.  The leverage for the crypto asset is 1:20. The legitimate scheme provides leverage of 1:2 to 1:5. The moment you lose, the scheme will make money out of your outcome. 

Withdrawal and Deposits 

The minimum deposit is $1000. It is costly. The entity is only accepting money via crypto payment. The option is swift and has lower fees. However, at the moment, you cannot reverse the payment once made. It is also impossible to know the recipient of funds. It is a perfect gateway for fraudsters. 

Genuine platforms will have multiple payment options. Credit and debit cards are excellent since investors can issue a chargeback from 540 days. The legal documentation indicates payments done to the entity are considered private. You will not find such a murky clause in a genuine venture. 

Scaptrade fails to disclose the minimum amount clients can cash out. Once you give these fraudsters access to your cash, forget about getting it back. The people running the venture are notorious con artists. 

Customer Support and Contact Details

The company claims it has offices in the UK, USA, South Africa, and Cyprus. Despite promising clients high returns, the platform cannot afford to hire qualified support. Investors can only reach them via email or by filling in the contact form. These are not the ideal form of communication. Telephone support should allow clients to reach the support with ease. 

Regulatory Status of Scaptrade

Scaptrade claims it has a regulatory form from the Cyprus Securities and Exchange Commission (CySEC). The other license is allegedly from the Maltese body (MFSA), the Malta Financial Service Authority. However, the certificate has the name of FX-PRime-Trade. This is another fraudulent firm probably that is run by the same culprits. 

The broker is not either in the database of theNational Future Association (NFA) or the Commodities Futures Trading Commission (CFTC). Both bodies are responsible for licensing brokers in the USA. The minimum capital of operation is $20 million.

Since Scaptrade claims it has offices in the United Kingdom, it should be authorized by the Financial Conduct Authority (FCA). This is a scam targeting citizens from areas with strict jurisdiction. The New Zealand Financial Market Authority (FMA) also does not permit the scheme to collect funds from its citizen. 

The scam is not reporting its daily transactional report to the authority. They can manipulate prices and violate all the set guidelines. Additionally, the scheme does not have compensation in place. They can exit the market at any moment leaving their customers high and dry.

A negative account balance is not available on the website. This scheme can change the terms and conditions to serve its greedy needs. Stick to the leasing licensing schemes in the market. You will enjoy peace of mind as these ventures operate according to the books. 

Final Verdict

Scaptrade is using false testimonials to win more victims. Any regulatory agency in the world does not regulate the scheme. Their trading conditions are whack. We also do not know the broker’s country of origin. 

Try out these leading forex trading schemes in the market. Their customers endorse them. You can read unbiased reviews on third-parties websites. They also operate transparently. 

 

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