Beware! CapitalLevel 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.
Warning! CapitalLevel is a scam Forex broker, which falsely claims to be owned and operated by a licensed Cypriot company. We can classify their actions as firm cloning, trying to deceive the traders by presenting themselves as something they are not, namely an authorized and regulated Forex broker. The mere fact that CapitalLevel offers a leverage level of up to 1:400 to its clients confirms that it is a scam, no warnings needed to prove that! There is a leverage cap of 1:30 imposed in Europe, no licensed EU broker is allowed to offer a ratio higher than that! Many other major red flags are to be discovered, however, find out more about this Forex broker in the CapitalLevel review.
CapitalLevel REGULATION AND SAFETY OF FUNDS
CapitalLevel received an official warning issued by CySEC on October 16, 2020:
It’s a confirmation that CapitalLevel is a scam which should be avoided, a warning issued against a Forex broker is the ultimate proof that a certain entity is fraudulent.
CapitalLevel is said to be owned and operated by Etilvina Consulting Ltd, which is presented as a full subsidiary of XCM Capital Markets Ltd- a company that is registered in Mauritius. It’s a fake claim, because the former company has nothing to do with the Mauritius one. Moreover, the XCM Capital Markets hasn’t listed CapitalLevel as a trading name, which rises the suspicion that there might be a double-cloning in this case!
The address given in the website of CapitalLevel is different than the one that is listed in the register of FSC in Mauritius.
Also the website is not matching, the one we found in the FSC database redirects to a tax advisory company that doesn’t list FX as a part of its business. CapitalLevel isn’t mentioned anywhere on its website. There is not enough evidence for us to confirm that CapitalLevel is authorized to sell FX products and services by FSC in Mauritius. It remains a pure scam that was officially put in the warning list of Europe!
Your funds are not safe if you make a deposit with CapitalLevel, it is an unlicensed, unauthorized and unregulated scam Forex broker, which was officially blacklisted by CySEC. Stay away and report immediately if someone from CapitalLevel contact you.
Avoid anonymous and offshore Forex brokers and trust only the ones which are proven to be legit, transparent and regulated in EU or UK, as the customer protection there is guaranteed. The licensed European brokers, for example, have to hold the clients funds in segregated accounts, separate from their own bank accounts, meaning that the deposits made by the customers cannot be used by the broker for operational transactions or investment. As a result, the funds are protected at all times, the Forex broker is not exposed to unnecessary risks, the customers are in full control over their money and can make withdrawals whenever they want, also the withdrawal processing time significantly decreases.
But above all, there are Deposit insurance funds inaugurated, such as ICF in Cyprus and FSCS in UK, which are set to protect the deposits made by the clients. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations.
WHAT TO DO WHEN SCAMMED
No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!
Share online your experience, it is important to protect others, as well. Be responsible!