1. Group-500 : How to recover your money from Group-500
In recent times, we have had a lot of complaints on a hedge fund called Group-500, it has been brought to our attention that there’s a fraudulent scheme going on there with the aim of stealing from investors. The FCA also confirmed in their publication that Group-500 is a scam platform. Just to clear any doubts, Group-500 is a SCAM.
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That Group-500 is up to no good is clear as soon as we created an account.
This is unsatisfactory because, while there are many situations where it is required to confirm that a specific individual is, in fact, the owner of a specific credit card, there is no need for this much information, and a check could be made with ease with as little as the card’s last four digits. All reputable organizations that request such checks expressly instruct you to cover all numbers but these digits to avoid fraud.
Of fact, these are by no means the only problems we have with Group-500; in general, they are rather dubious for the following reasons:
Group-500: Is it a trustworthy broker?
The broker is not; they deny having any form of regulation and even withhold their location, which are both red flags of fraud. However, why is regulation so crucial? Why not simply use an unregulated broker for your trading?
While it is possible, doing so is highly risky because, in addition to market volatility generally, there are many con artists out there determined to steal your money. These two primary dangers have driven governments all around the world to establish regulations that protect individual investors from them. For instance, the FCA, a government organization, regulates the markets in the UK. By requiring them to have at least 730 000 euros to their name before accessing the markets, it assures that the enterprises that can access them can endure their volatility. Additionally, they are subject to daily supervision to demonstrate that they are not con artists.
Only clients of brokers who have been granted FCA licenses are entitled to these protections and many others, such as a Negative Balance Policy. You should avoid companies like Group500 because they are completely unable to give them.
Can I profit from Group-500?
No, not at all. Even if Group-500 turns out not to be a fraud, the chances of generating money with an unregulated broker like them are exceedingly tiny. As a result, if you want to make money, stick with licensed brokers. Here are a few licensed UK brokers.
The broker also offers bonuses that they don’t want you to be able to withdraw:
The Capital Leverage, as Group-500 refers to the bonus, cannot be withdrawn unless a trading volume equal to 25 times the bonus amount plus the deposit amount is completed. Additionally, as you can see from the screenshot, the broker makes withdrawals take unnecessarily extended periods of time: 4–7 business days. The majority of brokers can handle withdrawal requests in a single day. This appears to be Group500’s deliberate attempt to delay down the withdrawal procedure.
What degree of leverage does Group-500 offer?
The broker offers leverage of up to 1:300; while this could sound advantageous, you should be aware that if one or two trades go bad, such high leverage might entirely wipe out your deposit. Because of this, the majority of regulators in the world have decided to limit the amount of leverage that brokers can provide to their clients, which means that the majority of brokers that do so lack a license. You should be careful of organizations that provide such high leverage because we already discussed the risks associated with unregistered brokers. Of course, there are exceptions, such as authorized brokers who use a lot of leverage; here are a few.
What is the Group-500 minimum deposit amount?
The exorbitant deposit minimum established by Group-500 is $10,000. The typical broker demand ranges from $100 to $200, which is simply hundreds of times less than this. Even more affordable micro accounts cost about $10.
Which platforms is Group-500 able to offer?
The broker offers a unique platform that they have created themselves. When compared to Metatrader 5, the industry standard, it does not hold up well. This is how it appears:
It lacks several of Metatrader’s more fundamental features, including as the majority of its graphical tools, as well as its automated trading capabilities.
How Can I Recover My Money From Capitals Trade FX ?
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