Arca Capital Review
You don’t have to sign up with the most professional broker in the market to start trading. There are a horde of companies that offer their trading services and many of them are capable of fulfilling the needs of all kinds of trader. The broker you choose doesn’t have to be the oldest and the costliest for it to be considered reliable. However, you do need to be cautious when looking for an option because of the scam brokers that have also pervaded the financial markets. These can create an impressive front to attract people and they only realize later that they are just false promises. Arca Capital review can give you an example of such a broker.
If you check out Arca Capital, you will notice that it presents itself as a global online trading platform that offers a combination of traditional investments and Bitcoin-based trading and funding. This is certainly impressive, seeing as cryptocurrencies have gained a lot of traction nowadays. Plus, the broker has also claimed to help people in securing their financial future. Of course, you will be inspired, but the review below will show you why it is not a good choice:
The first problem that you will spot about Arca Capital is that its website appears to be completely anonymous. Any legitimate and professional company would be more than happy to share details regarding its background, team, and location and give you a contact number to learn more. Yet, you will find no such thing on the Arca Capital website. The only information that’s available is that the brokerage was founded in 2012 and has now grown to have a global presence. You will not find any contact address, or even a phone number to contact them and no details about location. Hence, you will have no idea who you are signing up with.
According to Arca Capital, they understand that trading is very time consuming and not everyone has enough time to monitor their trades, so they provide managed accounts to help. They claim their ‘expert traders’ will make trades on your behalf and generate profits through the best strategies. This sounds altruistic, but is really a scam. You should remember that like other brokers in the market, Arca Capital is also a market maker, which means they profit when traders lose. So, if you do give them the responsibility to manage your trades, they will just lose every dollar for their own profit because of the conflict of interest.
Terms and Conditions
Another problem that can be a huge issue for traders when they are using Arca Capital’s services is one you will find in their Terms & Conditions pertaining to withdrawal. The company states that they don’t commit to any time frame for processing withdrawal requests, which means your requests may not be processed at all. They can take days, weeks, months, or even years, which roughly translates to you forgetting about ever getting your money.
Some people may not see this as a problem, but when you put it together with the other issues, it is not something to be ignored. Yes, you have to make a minimum deposit on Arca Capital to use their services and many legitimate brokers also ask for the same. But, the problem here is that they are asking for $500, which is twice more than what is considered standard.
One of the most prominent issues with Arca Capital is the lack of a trading platform. It claims to be a broker, which means it offers trading services, yet there is no platform on their website that can be used for doing the actual trading. This is a clear indicator of a scam broker.
In a Nutshell
Once you have identified the problems and issues with Arca Capital, it becomes obvious it is not a good brokerage for anyone.