Overview
Seven Capitals presents itself as a high-end gold trading broker and claims to be based in Dubai while operating under the name Seven Capitals Holding LLC and having its registered office in Mauritius. The broker has a neat website and seems to focus predominantly on trading commodities, and gold specifically, but there are a number of red flags that should raise alarm bells about the company’s legitimacy and regulatory status.
Website: https://www.fx7capitals.com/
Website Availability: Yes
Headquarters Country: Level-6 Ken Lee Building, 20 Edith Cavell Street, Port Louis 11302, Mauritius
Owned By: Seven Capitals
Domain Age:
Name-FX7CAPITALS.COM
Registry Domain ID-2493880146_DOMAIN_COM-VRSN
Registered On-2020-02-17T20:55:49Z
Expires On-2029-02-17T20:55:49Z
Updated On-2024-02-13T12:33:25Z
False Regulatory Claims and Conflicting Information
Although Seven Capitals states that they are regulated by the Financial Services Commission (FSC) in Mauritius, upon trying to verify this, we found that the regulatory number does not correspond to a valid license. Furthermore, there is a conflict in that they are registered in Mauritius, but yet their operations state that they are regulated in Dubai. There was no transparency in identifying their real location or legitimacy, and this gives an overall indication of a potential scam setup.
Limited Assets, Restrictions on Withdrawal
Although Seven Capitals may have the MetaTrader 5 platform that is typically reliable, they fall short in other critical areas. The broker has very limited instruments to trade and literally only focuses on gold and a few metals. Perhaps more troubling, is that the number of withdrawal methods are few and users have complained about not being able to access their money. These two latter factors are typical indicators of fraudulent brokers who intend to prevent access to client funds.
Marketing v Reality
The broker claims to be a leading Gold broker. However, the missing assets to trade, questionable regulation and operations, should set off alarms for every trader. Be careful and maybe don’t invest any funds.
FAQs
Q1: Is Seven Capitals regulated?
No. FSC Mauritius regulation license is invalid, there is no regulation verified out of Dubai.
Q2: What platform does Broker Seven Capitals offer to traders?
The broker offers MetaTrader 5. This is a legitimate trading platform – this does not validate the broker.
Q3: Is Seven Capitals withdrawal safe?
No. Some traders have reported limited withdrawal methods. We are also seeing traders report withdrawal request not being processed. That’s a huge red flag.
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