Cuarto Capital is a broker we strongly advise against investing with. It appears to be yet another fraudulent company that solicits investments without offering any substantial evidence of its reliability and safety. In this Cuarto Capital review, we mention all the points why we include Cuarto Capital as a scam in our scam brokers list.
Moreover, the trading conditions and environment we experienced were far from satisfactory. We urge you not to be swayed by this broker promise, as there is absolutely no truth to them. Exercise extreme caution and avoid engaging with Cuarto Capital to safeguard your investments and financial well-being.
Website – https://cuarto.capital/
Website Availability – Yes
Address – St. Vincent and the Grenadines
Warning – Comisión Nacional del Mercado de Valores (Spain)
Regulated – Unregulated
Is Cuarto Capital legit or a scam broker?
The Cuarto Capital website displays a severe deficiency in essential information. Particularly concerning is the conspicuous absence of contact details, such as a phone number or social media links, which should be readily available for any legitimate business.
Moreover, the lack of substantial information regarding their operations makes it difficult to ascertain their location or the individuals responsible for the company.
Remarkably, the only detail they mention about their alleged regulation is found in their Terms and Conditions document, where they claim to be registered in St. Vincent and the Grenadines (SVG). This limited disclosure raises concerns about the transparency and legitimacy of Cuarto Capital as a trustworthy financial entity.
Warning issued against Cuarto Capital
Recently, Cuarto Capital has drawn the attention of the CNMV, the financial authority of Spain. In a recent warning issued by the regulator, they stated that Cuarto Capital is not a reliable investment solution. This notice highlights significant concerns about the broker’s credibility and underscores the importance of approaching their services with caution and skepticism.
Cuarto Capital Review: Trading platform
Cuarto Capital provides access to a basic web-based trading platform. Additionally, the broker claimed to offer a desktop terminal that could be downloaded. However, upon examination, it became apparent that the terminal did not belong to Cuarto Capital but to an entirely different company.
While the Cuarto Capital web platform was user-friendly and easy to navigate, we cannot endorse initiating trades on such rudimentary software. Numerous legitimate brokers offer much more advanced and functional platforms like MetaTrader 4 and MetaTrader 5, which provide enhanced features and capabilities for traders. It is advisable to opt for brokers that offer more robust and established trading platforms to ensure a better trading experience.
Deposit and Withdrawal Methods
This broker offers five account types: Starting, Bronze, Silver, Gold, Platinum, and ECN accounts, each with different deposit requirements.
However, the deposit requirements for these accounts are, to say the least, unacceptably high. The Starting account demands a minimum deposit of $250, while the ECN account requires a staggering deposit of half a million dollars.
Adding to the uncertainty, Cuarto Capital accepted payment methods are not clearly specified, which raises concerns about the transparency and convenience of funding accounts with this broker.
Cuarto Capital Review: Trading Instruments
Cuarto Capital provides access to well-known markets, including Currencies, Indices, Equities, Commodities, and Crypto. However, the number of available instruments was notably limited. In comparison, legitimate brokers typically offer a vast array of trading instruments, numbering in the hundreds and, in many cases, even thousands.
Cuarto Capital Review: Trading Conditions
Cuarto Capital spreads failed to impress us, as we experienced 2.6 pips on EURUSD, 2.4 pips on USDJPY, and a significant 3.2 pips on GBPUSD. Considering that the industry average is around 1.5 pips, and many reputable brokers offer even lower spreads, opting for this untrustworthy broker does not seem worthwhile.
Furthermore, Cuarto Capital allowed us to trade with leverage as high as 1:200 on forex majors, which is excessively high. Although such high leverage rates may seem tempting as they can potentially lead to bigger profits quickly, it’s essential to acknowledge that leverage comes with significant risks. Engaging in high-leverage trading can expose traders to substantial losses, making it a risky strategy that requires caution and thorough understanding before considering its use.
Conclusion
If you have been a victim of the Cuarto Capital scam or any other fraudulent activity, there is a pathway to seek resolution and support. Visit our Scams Report website, where we have created a user-friendly complaint form specifically designed to address issues related to scam brokers. By utilizing this form and submitting your complaint, you will have the opportunity to receive a free consultation with our team of experts committed to helping you resolve your situation effectively. We are here to provide guidance and assistance during this challenging time.
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