Above Capital Investment LLC claims to be a financial investment platform based in Comoros and Dubai, offering trading services in forex, commodities, indices, and cryptocurrencies. Despite claiming to hold a Moheli MISA license, investigations reveal the company has duplicated another entity's license number and lacks genuine regulatory approval. The domain was registered on September 4, 2023, with vague background information and a lack of transparency, posing significant uncertainty and potential financial risks for investors.
Company Background and Regulatory Information: False Advertising and License Duplication
The official website of Above Capital Investment LLC is https://abovecapitalgroup.com, with the domain registered on September 4, 2023. The platform claims to be based on Moheli Island in the Comoros Union and Dubai, UAE, holding a Moheli MISA license with the number T2023289, and offering trading services in forex, commodities, indices, and cryptocurrencies. However, investigations show that the genuine company holding this license number should be ABOVE CAPITAL INVESTMENT LLC, registered at https://www.investment.com. This indicates that https://abovecapitalgroup.com is likely a fraudulent entity, lacking MISA regulation and licensing.
Above Capital's Account Registration Process:
- Visit the Above Capital website and click the registration button.
- Fill out the application form.
- Submit identity verification/documents for my number verification.
- Deposit funds and start trading.
Types of Accounts at Above Capital:
Above Capital offers three types of accounts for users: Standard, Elite, and Pro. The minimum deposits range from $100 to $5,000, with different leverages and spreads. Despite appearing to offer flexible options for various investors, the specific trading conditions of these accounts present significant risks. For example, the Pro account offers leverage up to 1:200 with spreads as low as 0.4 pips. While this may seem attractive, high leverage on an unregulated platform poses enormous risks. Additionally, the platform does not clearly specify the fees and commission structure for these accounts, leaving investors unable to accurately assess trading costs due to a lack of transparency.
Above Capital's Trading Software:
Above Capital claims to offer trading in various financial derivatives, including forex, commodities, indices, and cryptocurrencies, through the MetaTrader 5 (MT5) platform. However, in the absence of regulation and transparency, using this trading software does not guarantee the security of investors' trades. Regardless of the tools the platform provides, without transparent regulation, ensuring the safety and fairness of investors' funds and trades is unachievable.
Trading Products Offered by Above Capital:
Above Capital offers various trading products, including forex, commodities, indices, and cryptocurrencies. Despite the popularity of these products among investors, the platform suffers from severe transparency issues, increasing investment risks.
Forex Trading: Offers trading in major, minor, and exotic currency pairs, but with a lack of regulation and transparent trading conditions, investors may not receive fair market quotes.
Commodity and Index Trading: Above Capital provides trading in commodities like gold and oil, as well as major global indices, but fails to disclose detailed trading conditions, making risk assessment difficult for investors.
Cryptocurrency Trading: While cryptocurrency trading is supported, the lack of transparency and regulatory safeguards in a highly volatile market may lead to fund security risks.
Above Capital's Spreads, Leverage, and Commissions:
Above Capital's account types offer different conditions for spreads, leverage, and commissions. The Standard account features spreads starting at 1.4 pips, up to 1:200 leverage, and no commissions. The Elite account offers tighter spreads from 0.8 pips but involves a $3 commission per lot, with leverage also at 1:200. The Pro account features spreads as low as 0.4 pips but a commission of $6 per lot, with reduced leverage of 1:100. There are significant differences in trading costs among these account types, requiring investors to carefully evaluate fees and risks.
Deposit and Withdrawal Methods at Above Capital:
Above Capital fails to publicly disclose its deposit and withdrawal methods and related fees, causing significant uncertainty for investors when managing their funds. The lack of crucial information regarding deposit and withdrawal fees and processing times increases the financial risks investors may encounter during trading. Transparency and timeliness are essential for deposits and withdrawals, and the lack of such elements highlights the platform's non-compliance with basic operational standards.
Customer Support at Above Capital:
Email: support@abovecapitalgroup.com
Phone: +97142210000
Conclusion:
Above Capital lacks transparent regulatory information and detailed trading conditions, increasing the risk to investors' funds. Trading on this platform without clear regulatory oversight and protection can lead to unforeseeable financial losses. Investors should remain highly cautious to avoid potential scams or high-risk trading environments. Currently, Above Capital is marked as "Suspected Fraud" on TraderKnows.
