Fincloud Capital is another offshore & nonregulated CFD broker that opened on January 26th 2021. Their website no longer works, like all crypto trading scams. This broker is identical to other brokers that we have reviewed before, because they are using white label software.
You are not the only person who is having problems with the brokers at Fincloud Capital. We have received quite a few complaints from other investors, read this.
Fincloud Capital Review
Day Traders and Investors at Fincloud Capital offered the white label web-based trading platform called Status. This trading platform is very basic, and user friendly for new trader, but it is lacking many important features. They use an antiquated charting system, so no Trading View charts with these guys. If you have dreams of becoming a real day trader, then you will not find the industry standard Meta Trader 4 (MT4) trading app. All investors today are look for a decent mobile trading app, but this broker doesn’t offer one.
Like all brokers, they offer a nice variety of underlying assets for CFD trading including; Forex Major, Forex Minor, Crypto Currency, Gold, Silver, Oil, Natural Gas, Market Indices, and Shares. Margin rates on $BTCUSD are 10:1 and the spread is $100. Since you signed up to Fincloud Capital from a BitQT type scam the minimum required deposit is $250.
This broker uses a few different payment processors including; ABNCBP. When depositing money at a broker that uses crypto payment processors, you lose your credit card fraud protection.
Crypto Trading App Scams
Like most people reading this review, we found this broker, because we signed up for the BitQT trading app someone emailed us about.
You should really take a few minutes to learn about auto trading signals, see here.
Is Fincloud Capital a Legit Broker?
No, Fincloud Capital is not a licensed or regulated broker, and they are not supervised by any government agency. Although they are targeting people in Austria, they are not regulated by the FMA.
Officially they are owned and operated by Surreptitious Group LLC, corp number 1343LLC2021, First Floor, First ST Vincent Bank LTD Building, James Street, Kingstown VC0100, Saint Vincent and the Grenadines. Customer support email address is: [email protected]. Their official website is at: https://fincloud.center/. Their trading platform is at: https://webtrader.fincloud.live/. Contact phone number in Germany is: +43720022334.
When you signup for a new account, you usually get a high pressure sales call within 30 seconds.
According to the SVG Financial Services Authority; “Forex trading brokerage activities are not licensed in St. Vincent and the Grenadines.” read more.
When the Scam Broker Investigator reviews a new Forex or Crypto CFD broker to see if they are a scam broker or a legitimate broker, we check for a license from any of the government financial regulators. Using a local brokerage firm, that is licensed in your country ensures that you will not have problems withdrawing your profits.
Compare Regulated Brokers
New investors looking for a good online broker have plenty of brokers to choose from.
If you are already investing at Fincloud Capital, please share your experience using this broker with other readers in the comments section below.