Capital Group (tradercgmarket.com) is a fraudulent website attempting to impersonate the legitimate financial services company "Capital Group." The domain was registered on February 23, 2024, and claims to offer investors trading services in forex, precious metals, crude oil, indices, and cryptocurrencies, but it does not provide services to regions where doing so would violate local laws and regulations.
Company Background and Regulatory Status
According to public information on the Capital Group (tradercgmarket.com) website, its headquarters are located in Denver, USA, and it is purportedly one of the 50 largest financial services companies in the USA, holding licenses issued by the U.S. Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA), with license numbers 31000263262302 (MSB) and 0561418 (NFA), respectively.
Verification of the U.S. Financial Crimes Enforcement Network (FinCEN) website revealed that the company with MSB number 31000263262302 is SMART GLOBAL, and the National Futures Association (NFA) does not list a member with license number 0561418. Furthermore, it was found that tradercgmarket.com is using both the company name and brand logo of the legitimate financial services company "Capital Group."
Therefore, tradercgmarket.com is a scam website with no corporate entity or regulatory oversight, attempting to impersonate the legitimate financial services company "Capital Group."
Trading Products
tradercgmarket.com offers a variety of trading products including forex, precious metals, crude oil, indices, and cryptocurrencies.
- Forex: Offers dozens of major forex currency pairs, including EUR/USD, USD/CAD, GBP/USD, USD/JPY, etc.
- Precious Metals: Provides spot trading for various metals: Gold (XAUUSD), Silver (XAGUSD).
- Crude Oil: Offers trading of US Crude Oil (UsOIL)
- Indices: Nikkei Index (N225), German Index (GER30), S&P 500 Index (US500)
- Cryptocurrencies: Offers trading pairs of major cryptocurrencies, including Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), and many others.
Account Opening
The account opening process on tradercgmarket.com is as follows:
- Visit tradercgmarket.com and click the "Register" button on the homepage to access the account registration page.
- Fill in the account application form with your email, password, and verification code, then submit the application form.
- Upon submission, the account registration is successful. After logging into the account, users must complete KYC verification to deposit funds and start trading.
Trading Account Information
tradercgmarket.com provides limited information about trading accounts, only revealing certain details such as spreads, leverage, and contract sizes. Critical information about specific account types, commission standards, and margin levels is not disclosed.
- Base Currency: USD
- Spread: Floating, minimum 1 pip
- Leverage: 1:100
- Contract Size: 1 lot equals 100,000 currency units
Trading Platform and Deposits/Withdrawals
tradercgmarket.com claims to provide the ST5 trading platform, supporting both web and mobile versions. However, the app listed on the App Store under the provided download link is named ERGHERTHG, and the Google Play download link redirects to the same as App Store’s link. Moreover, the website does not provide detailed information about deposit and withdrawal methods, associated fees, or minimum amounts.
Conclusion
Traderknows advises investors that Capital Group (tradercgmarket.com) is a fraudulent website attempting to impersonate the legitimate financial services company "Capital Group." The site has no corporate entity or regulatory qualifications. It is recommended that investors exercise caution when choosing brokers, prioritizing those that are strictly regulated and transparent, to avoid the risk of financial loss.
