Read our Kacapital Emporium review to see if this broker is a scam or legit. Just to clear doubts, this is a kacapitalemporium.com review.
The number of online brokers has increased exponentially in the past couple of decades and this is primarily because of the popularity of online trading. More and more people are interested in diving into this space in order to make profits and they need to open an account with a brokerage to do so.
If you are also beginning your trading journey, you need to do this very carefully. This is due to the fact that not all brokerages are capable of fulfilling your requirements. In fact, some of them can be downright problematic, as this Kacapital Emporium review highlights.
Unless you do not have a problem in losing your money, you should put some time, thought and effort in choosing a brokerage. They can have a big impact on your overall experience and your bottom line, especially if you end up opting for a shady, or fraudulent broker.
Yes, their numbers have also surged significantly because of the huge number of potential victims they can find in the online trading space. Plus, it is not that difficult nowadays to create websites and masquerade as brokers to lure people and steal their deposits.
These incidents have become very common because these fake brokers offer high profits and lucrative bonuses that draw people in. The key to remember is that if it sounds too good to be true, then it probably is. You should not rely on anyone else’s word and always do your own research and verify everything.
This can save you a great deal of regret, as in the case of Kacapital Emporium. It presents itself as an award-winning gateway to the world’s financial markets.
As appealing as that sounds, you need to check its offerings to confirm it and this is when you discover some worrisome aspects of Kacapital Emporium that can make you reconsider your decision. What are they? You can learn about them here.
False regulation claims
The first worrisome aspect of Kacapital Emporium is regarding its regulation and this is not something you can or should compromise on. Bear in mind that people who have become scam victims all relied upon unlicensed and unregulated entities that did not answer to anyone.
You do not want to make the same mistake, so it is best to opt for a regulated one and Kacapital Emporium claims to be licensed in China and Hong Kong.
First off, you will find some grammatical errors in the Kacapital Emporium presentation and this is considered an obvious sign of a scam because professional companies will always double-check and proofread their content.
Secondly, the regulation claims don’t check out. This is because forex trading is forbidden in China, so it is not possible for Kacapital Emporium to be regulated there.
Secondly, a check of the Securities and Finance Commission (SFC) in Hong Kong shows that Kacapital Emporium is not listed there either, which means it is outright lying about its regulation. Why would a company lie if it is genuine?
It is bad enough that you find out you are dealing with a lying and unregulated brokerage in the case of Kacapital Emporium, but it gets worse and will continue getting worse as you read on.
Now that you know the brokerage does not have a license, you would obviously want to know where it is operating from and who is behind it before you can decide to trust it with your money and your data.
Here you are in for another shock because Kacapital Emporium does not share where it may be incorporated and what company may be behind it.
If you check out the contact section of their website, you will not find any corporate background, or even a corporate address. There is not even a phone number given and you have to use an email to get in touch with them if and when you want.
Another worrisome aspect that you will uncover about Kacapital Emporium when you try to check out its trading platform is that it demands that you first register your trading account. While most authentic companies offer demo accounts to give people a chance to check their offerings, you will find no such facility here.
It promises a ‘liquid’ and powerful platform, but no name is mentioned, which shows that it is unlikely that Kacapital Emporium is offering the market-leading and renowned platforms like the MT4, or the MT5.
But, the biggest issue is that when you try to register your account with the broker, it demands that you scan and send your ID to them first.
This is something that no legitimate brokerage would ever do. Your ID can be misused in a number of ways and you do not want to share it with an anonymous firm.
You will have a big problem with the leverage ratios that are available at Kacapital Emporium as well. While some people may find high ratios attractive, you should not forget that they are like a double-edged sword. Yes, you can make high profits with high leverage, but high losses are equally possible.
Therefore, leverage is usually capped for retail traders by regulatory authorities in most jurisdictions like the UK has a cap of 1:30. But, Kacapital Emporium is offering ratios as high as 1:1000, which are excessive and dangerous.
Misleading payment options
The payment options offered by a broker are of the utmost importance because they indicate if you can get a refund, or not. In the case of Kacapital Emporium, you will find that it does support VISA and MasterCard, which means that a chargeback is possible. But, as it turns out, the broker is only misleading you.
This is because it asks you to use your cards via third party payment providers, such as Paypound, Amald, Gateway and Carpayz. This does not help with Kacapital Emporium’s credibility because these are obscure websites that can put your information at risk.
These five worrisome aspects of Kacapital Emporium can help you conclude that the broker is up to no good.