Investors Alert Capitalwise – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.
Online trading can be a lucrative and convenient way to invest your money and diversify your portfolio. However, not all online trading platforms are legitimate or trustworthy. Some of them may be fraudulent or unregulated, posing a high risk of losing your money or personal information. In this blog post, we will review Capitalwise, an online trading platform that has been flagged by the OSC as an unauthorized entity.
Products and Services:
Capitalwise claims to offer a wide range of financial products and services, such as forex, stocks, commodities, indices, cryptocurrencies, CFDs, and binary options. It also claims to provide educational resources, market analysis, trading signals, and account management services. However, these claims are not verified or backed by any evidence. Moreover, Capitalwise does not disclose any information about its trading conditions, fees, commissions, spreads, leverage, or margin requirements.
Financial institution & regulatory license:
Capitalwise claims to be operated by a company called Capital Wise Ltd., which is allegedly registered in St. Vincent and the Grenadines. However, this does not mean that Capitalwise is regulated or licensed by any reputable financial authority. The OSC has issued an alert warning investors that Capitalwise is not registered or authorized to operate in Ontario or any other Canadian province or territory. This means that Capitalwise does not comply with the securities laws and regulations that protect investors from fraud and misconduct.
Trader’s Reviews and Customer Service:
Capitalwise does not have a good reputation among online traders and reviewers. Many of them have reported that Capitalwise is a scam that uses deceptive and aggressive marketing tactics, such as cold calling, fake testimonials, and unrealistic promises of high returns. Some of them have also complained that Capitalwise does not allow them to withdraw their funds or close their accounts without explanation. Furthermore, Capitalwise does not provide any reliable or responsive customer service. The only way to contact them is through an email address or a web form, which often goes unanswered or ignored.
How do online trading scams operate:
Online trading scams are becoming more sophisticated and prevalent in the digital age. They usually target inexperienced or vulnerable investors who are looking for easy and quick ways to make money online. They lure them with attractive offers of high returns, low risk, and professional guidance. They also use fake websites, logos, reviews, and testimonials to appear legitimate and trustworthy. However, once they get access to the investors’ money or personal information, they either disappear or manipulate the trading platform to make them lose money. They also make it very difficult or impossible for the investors to withdraw their funds or file a complaint.
How to Safeguard Against Fraudulent Brokers:
There are some steps that you can take to safeguard yourself against fraudulent brokers and online trading scams. Here are some of them:
– Verify the reputation and credibility of the online trading platform. Read online reviews from reputable sources, such as Trustpilot, Forex Peace Army, or Scam Broker Investigator. Look for any negative feedback, complaints, or warnings from other traders or experts.
– Avoid unsolicited offers or calls from online trading platforms. Do not respond to any emails, messages, or phone calls that claim to offer you a unique or exclusive opportunity to invest your money online. Do not click on any links or attachments that may contain malware or phishing attempts.
– Be wary of any pressure or urgency to invest your money online. Do not let anyone rush you into making a decision or signing up for an account. Take your time to evaluate the risks and benefits of any investment opportunity. Do not fall for any guarantees of high returns or low risk.
– Use a secure payment method when depositing your funds online. Do not use any payment method that does not offer you protection or recourse in case of fraud or dispute. For example, avoid using wire transfers, prepaid cards, cryptocurrencies, or gift cards.
– Monitor your account activity and statements regularly. Check your balance, transactions, fees, commissions, and profits regularly. Look for any unauthorized or suspicious activity on your account. Report any issues or problems to your online trading platform as soon as possible.
– Know your rights and options as an investor. If you suspect that you have been scammed by an online trading platform, do not hesitate to take action. Contact your bank or credit card company to stop or reverse any payments. File a complaint with the relevant financial authority or regulator in your jurisdiction. Seek legal advice or assistance from a reputable lawyer or consumer protection agency.
Capitalwise is an online trading platform that claims to offer various financial products and services. However, it is not a legitimate or trustworthy online trading platform. It is not registered or authorized to operate in Ontario or any other Canadian province or territory. It has been flagged by the OSC as an unauthorized entity. It has a poor reputation and customer service. It uses deceptive and aggressive marketing tactics to scam investors. It does not disclose or comply with the trading conditions and regulations that protect investors. It does not allow investors to withdraw their funds or close their accounts. It is a high-risk and low-reward online trading platform that you should avoid at all costs.