Getzcapital.com Review: Avoid Getz Capital Scam Broker
Getzcapital.com (Getz Capital) is an unpopular Forex brokerage whose domain first appeared on the internet in July 2016.
The first step to successful trading is to find a good broker (like the ones recommended on our homepage) and afterwards, you should invest in professional trading and investing services.
The broker is operating from St. Vincent & the Grenadines, which is an infamous location known for hosting unregulated brokers, and to some extent, scam brokers.
Getzcapital.com is also not regulated by any licensing authority, which makes it a very dangerous broker to trade with.
Furthermore, a closer look into their website suggests that they don’t offer the popular MT4 trading software.
They’ve opted for a “proprietary” software which they think will serve the needs of traders well.
Currently, MT4 is the most popular and reliable. They can’t convince us otherwise.
Furthermore, Getz Capital claims that they will provide the following:
- Full transparency of execution stats because they are not trading against us.
- Tier 1 liquidity
- Asymmetric slippage that helps traders benefit with every price movement
In addition to this, GetzCapital is offering 3 account types with minimum deposit starting $100 while the second and third account types require $1,000 and $10,000 respectively.
Our advice is that you should not deposit this much with an unregulated broker.
Even if you find yourself in the unfortunate scenario where you are trading with GetzCapital, the most you should deposit is $100.
You should also avoid them temptation because at the moment, Getz Capital is promising zero spreads in their higher account type.
They also suggest that this account type does not have commission.
This is clearly too good to be true.
Of course we cannot believe it when Getz Capital claims they are an ECN broker.
If they can’t prove their legitimacy, we don’t think they can waste their time with implementing this kind of trading environment for their clients.
GetzCapital review: They are not regulated (Bad idea)
So far, we’ve understood that GetzCapital is not a regulated broker.
Now, ask yourself why this broker chose to setup base in St. Vincent & the Grenadines, which is an offshore region where brokers are not regulated.
There’s no way they can convince us that they won’t scam us, seeing that they chose a location that is known for hosting scam brokers who are immune to regulations.
The company behind this brokerage website is called GetzCapital LLC.
Nothing is known about this company, not even their executives were introduced.
Basically, it is impossible to tell whether this is a registered company.
Anyway, the fact of the matter is that the broker is trying to create a veneer of legitimacy.
This is why they will pretend to be registered and regulated when this is not the truth.
Poor designed website (GetzCapital.com)
Unlike professional Forex brokers who are investing in aesthetically pleasing websites, this one is cutting corners by using a cheap, unattractive template.
Speculations suggests that such a broker is not in a financial position to invest in a professional website where they can compete with other brokers in the industry.
You don’t want to trust a broker like this because even your withdrawal requests will take longer than normal (assuming they even process them).
Your money is not safe
Indeed it’s true that your money won’t be safe in the hands of Getz Capital.
The reason is that they are not using segregated accounts like other regulated Forex brokers do.
Since they are unregulated, they are not required to implement these standards.
Even if they implemented them, there would be no oversight authority to ensure that these requirements are adhered to.
Having said this, the eventual thing that can happen is that Getz Capital LLC will disappear with your money since there’s no protection that guarantees the safety of their clients’ funds.
Based on all the reasons we’ve provided above, we believe that GetzCapital a significant level of risk on investors’ funds.
The best thing to do is to avoid using a shady broker like Getz Capital. You won’t make any money.