Read our AB Capitals review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a ABCapitals.com review specifically.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So AB Capitals is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will also help you with this step.
Make sure you leave reviews about AB Capitals in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
AB Capitals Review Conclusions
Making the AB Capitals review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our AB Capitals review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
All that is written above is true. I am in the process of doing a charge back with my bank and I would advise anyone not to enrol in websites that claim they can get your money back because trust me it will just cost you more than what you have already lost ,another scam on top of being scammed.
ABcapitals do ask for a small amount of money at first and will make you what seems a very good return, then they will ask you to withdraw a little to make sure all is going right and all is set up correctly, once this is done they come in asking for more and more money and you will see your profits go up.
They will then let you withdraw a little in the hope your confident enough to invest more, this is when it goes pear shape your money is put in trade deals and is stuck there, you cannot move it or withdraw it , then watch your money start disappearing until all your money as gone.
They will call you with no explanation as to why it was lost and in my case I was asked to remortgage my house, well what legitimate company would do this?
If you want to invest go through the FCA they have a list of registered companies.
Please stay away from ABcapitals.
They are scum. They should all go to prison for a very long time!!
For as long as they believe you have more money to invest or, as you say, will re-mortgage your house, your trades will rocket up. Their trading platform is a ‘front’ and a sham . As your account manager is telling you what trades to input, someone else is simultaneously boosting the numbers showing on the platform. So the returns appear immediate, to impress you so that you will invest more. You will not get a shekel back. When they believe you have no more money to send to them, or you want to withdraw your funds, they will ignore your requests until you stop bothering them and go away. Note that, without the boosts, your trades will always fall. Their faux platform charges you an arbitrary variable daily rate, which they don’t tell you about, on each individual trade. If they have more clients than they can personally manage, they leave the ‘smaller’ clients to the platform to steal your money! ABCapitals will almost certainly operate within a shell company. A legitimate company that does not need to make a profit, and has a small number of employees to reduce the risk of whistle-blowers, but more employees than the shell company needs to deliver its portfolio! Of course, all names they give you are pseudonyms.
I believe banks should be more responsible after all we trust them with our money. We know when we transfer money to friends relatives or other is safe, we know our direct debits and such are safe and so do they! So why when it’s an unknown or unregistered company do they not flag it up. Not just bitcoin but any scam, hold your money until you receive your goods or are satisfied it’s legitimate. Even a twenty eight day period of your bank holding your money back would help deter scammers. Not registered unknown, banks should hold on to the transaction pending until such or not.
We invest our money in banks because we trust them with our money and making the best of our investments.
But with all the scams going on I fear they are falling behind with technology and are not doing enough to protect their customers. I feel scammers see the banks as easy targets.
Ie, the most simple scam ,you’ve missed a parcel delivery please pay to have it re-delivered could be stopped if the bank held the funds until confirmation from their customer. It would stop the invest right now scam. A message alongside, please check your not being scammed.
Good news! Finally all resolved I got back most of my money back through charge back.
My bank refused so I took it through the obudsman.
Thankfully through a lot of there hard work success.
Janet, I’m going through the process of trying to recover thousands of pounds that ABCapital scammed me out of. I’m at the stage with the Ombudsman but having some difficulty and it’s not looking like it’s going to be positive. Would you be willing to talk with me about your approach and how you achieved success?
Many thanks.