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Is Go Capital FX scam or reliable? CySEC warns

Maya Mandzikasvili | May. 30, 2019
Is Go Capital FX scam or reliable? CySEC warns

May 30, 2019, | AtoZ Markets - The Cypriot financial regulator CySEC has recently updated its Forex warning list. Two new warnings published on the CySEC website include two addresses: gocapitalfx.com and www.worldbinaryoption.com. Is Go Capital FX scam?

CySEC warns investors about possible Go Capital FX scam

With regard to gocapitalfx.com, CySEC states that this website is not owned by a person authorized to provide investment services and/or carry out investment activities.

According to the company’s description in the official Go Capital FX website, the firm declares itself as a trading provider and offers a number of trading tools including, foreign currency exchange (Forex), contracts for difference (CFD) for goods, metals, indices, energy, stocks and shares of companies , like Google, Apple and Amazon.

The proposed trading provider claims that it has provided its customers with access to the MetaTrader 4 platform, where they will have access to a number of tools and trading opportunities. On the website, the organization states that Go Capital FX is the trade name of Lancelot Equity Ltd located in the Commonwealth of Dominica.

In its warning, the Cypriot regulator urges “investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities”.

Cysec issues warning against another scammer

The second website www.worldbinaryoption.com, according to a Cyprus regulator, also does not belong to a legal entity authorized to provide financial services in Cyprus.

According to the company’s description on the official firm’s website, World Binary Option as an online Forex and CFD Broker provides traders across the globe with cutting edge technology to trade the world’s markets.

The company was allegedly founded in 2010 and since then has been providing traders with low-cost pricing across FX, CFDs, and commodities with the security of financial regulation and industry-leading customer support.

On its website, the organization claims to be located in the United States and is regulated by the Commodity Futures Trading Commission (CFTC), the International Financial Services Commission (IFSC) in Belize, the Financial Conduct Authority (FCA) in the United Kingdom and CySEC.

However, the regulator states: "The information on the above website, which assumes that it belongs to a legal entity regulated by CySEC, is misleading and not true."

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.