Introduction
Eightcap.vip is on the chopping block given a large number of investor complaints. The site is similar enough to Eightcap that it can be misleading, yet wide enough away from the original to stand off independently (and fraudulently). The complaints are at this point apparently all the same – withdrawal issues, customer service, and loss of investor funds.
Website: https://eightcap.vip/
Website Availability: NA
Owned By: Eightcap.vip
Blacklisted by: Financial Conduct Authority(UK)
Domain Age: NA
Suspicious Conduct and Losses to Customers
One report showed a user who made a $2,500 deposit. The user was going to trade, and the deposit was completed January 5, 2022 (to be clear, it was now 3 days later). The user requested a withdrawal (again, 24 hours later) and not surprisingly it was classified as “processing” instead of being “processed.” The user waited a reasonable amount of time, and their entire balance was used up – and now the user is waiting for a response from customer service. On attempted communication through live chat, the users were replied to with questions in rudeness – after which their live chat was cut off.
Another report was of a user who lost upwards of $1 million, where the platform held out several requests for more deposits before processing the user’s withdrawal and called it “verification.” The user had some kind of retention with the deposits, and their behavior was repugnant of well-organized scams, rather than operational errors.
Regulatory Alerts
In the United Kingdom, the Financial Conduct Authority (FCA) has issued a genuine warning against Eightcap.vip which proves to be an illegal clone of regulated broker Eightcap – this reinforces their unregulated status and exceptionally high risks for investors.
Conclusion
Over and above the possible lack of transparency, breaches of regulation or a number of outstanding complaints, it looks like Eightcap.vip is a scam. As an investor, think twice about using this broker and always check the legitimacy of a broker before depositing money.
FAQs
Q1: Is Eightcap.vip the same as the legitimate Eightcap?
No. Eightcap.vip is an impersonator and not affiliated with the regulated Eightcap entity.
Q2: Has Eightcap.vip been flagged by regulators?
Yes. The Financial Conduct Authority (FCA) has issued a warning against it.
Q3: Can investors recover their lost funds?
While recovery is difficult, contacting legal recovery services or relevant financial authorities is recommended.
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