Belfastcapital.net (belfastcapital.net) is a Forex brokerage located in the Saint Vincent and the Grenadines and allegedly owned by Monecor London LLC. In the review below, we take an in-depth look at the feat Belfast Capital allegedly offers. This review aims to explore the trading platform, listing out aspects like licensing, its leverages, account types, and its withdrawal and deposit methods. It also aims to fact check claims that have been made by belfastcapital.net to determine whether it is safe enough to trade with or if it is just one gigantic scam.
Table of Contents
Belfast Capital Trading Platform
Belfastcapital.net looks like a legit brokerage from just looking at the design of their website, it looks professional and well-designed. But after going through they are few things we discovered.
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Although they different forex instruments, they neither support the MT4 or MT5 trading platform. Another is that we discover that they are located in the SVG.
The site gives the reasons as advantages of trading with them:
Belfast Capital Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has three account types namely Beginner, Trader and Professional. We couldn’t get more information as it was locked behind its client portal.
Belfast Capital Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
Belfastcapital.net flaunts several payments option logo on one of its page. But after going through its client portal we found out that the only way to either deposit is through buying bitcoin from indacoin (it redirects you to this site.)
Normally a broker would support payment option such as Visa, MasterCard, Skrill and Neteller. But the payment method this broker has chosen is one of the irreversible kinds.
This broker claims not to have any withdrawal fees.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is Belfast Capital Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
This broker claims to be owned by Monecor London LLC, whom they say is name registered as an LLC in Saint Vincent & Grenadines. It also claims to be located at this address: Principal and registered office in First Floor , Saint Vincent Bank Ltd Building James Street Kingstown. An address that has been used by many forex scammers.
First of all Saint Vincent and the Grenadines is a well-known offshore zone, and a preferred location for shady brokerage. This broker claims to be regulated by the government of SVG, and the government of the SVG has stated in the past it does not regulate any form of forex trading. So in order to ascertain if this broker was licensed, we had to check several regulatory bodies. We checked the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others. At the end of our search we didn’t find any licensing information concerning this broker.
So, no, this broker is not a licensed broker
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with belfastcapital.net as they lie about being a regulated broker. And also because of their shady methody for handling transactions.
Belfastcaptial.net is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.