Considered one of the biggest CFD brokers in New York, Varalen Capital Markets offers its clients a good choice of financial elements.
CFD is an agreement between a buyer and a seller according to which, the seller pays to the buyer the difference between the current price of an underlying asset and its price at contract time. By saying “CFD broker” we mean an intermediary between a trader and the financial market. A CFD (contract-for-difference) broker provides its clients access to international financial markets through a trading platform(s). Trading platforms are fully packed with trading instruments and technical analysis tools that are essential in decision-making.
As for Varalen Capital Markets, it supports the top-tier trading software, namely MetaTrader 5. An average spread on EUR/USD is as low as 2.8 pips. The broker treats its clients with unprecedentedly generous leverage equal to 1:500. Despite the spread is not the lowest one in the field, Varalen Capital Markets does offer really fair trading conditions to empower clients to trade at a profit.
The official website of Varalen Capital Markets is sleek and easy-to-navigate. There are no irritating banners or confusing menus popping all-of-a-sudden. All the necessary information is smartly categorized and is pretty comprehensive.
On site on page https://capital-markets.com/trading/tools/ minimum Deposit specified: $ 300. It is still not a reason to call Varalen Capital Markets a scam.
Varalen Capital Markets Regulation & Funds Protection
Varalen CM trademark belongs to the number of companies: Varalen Capital Markets LLC, registered in New York; Varalen CM LTD, registered in the Marshall Islands; Varalen CM Limited, registered in the United Kingdom. This fact may raise doubts about the legitimacy of the brokerage because the Marshall Islands is a favorite place for scam players to register and do their shady dealings.
However, considering that Varalen Capital Markets LLC, has the New York State (USA) registration under ID number 5263705 at the address of 30 Wall Street, 8th floor, New York, NY 10005-2205, it is fair to assume that the enterprise is compliant with the USA strict regulation, and potential clients are not liable to any significant risks (except that trading in financial markets is a highly risky business by itself, and along with significant earnings, it is also fraught with heavy financial losses owing to a highly volatile nature of global financial markets).
The USA registration indicates that the broker is compliant with authoritative regulatory bodies like NFA and gives assurance for the proper protection and safety of traders’ finances. This also indicates that the broker keeps its clients’ funds in segregated accounts as prescribed by the regulators and handles people’s investments separately from the company’s capital to exclude the possibility of commingling.
Varalen Capital Markets Payment Methods And Fees
The broker does not pamper its clients with a wide selection of payment methods. The choice is limited only to Visa, MasterCard, and Maestro debit/credit cards. The dealer also supports Tether e-payment system.
Varalen Capital Markets website provides clear information about funding/withdrawal conditions. Such as, a 3% commission will be deducted from the sum which you withdraw on your Visa or MasterCard plastic. However, only 0.8% will be deducted from your balance if you withdraw on your Tether e-wallet.
The broker does not charge a penny when you refuel your account through a debit/credit card. But if you pour money into your account via Tether, you will again be subjected to a 0.8% commission. A minimum amount for withdrawal is 50 UDS, and the maximum is 5000 USD.
How do scammers work?
The Forex market is a great and terrible landscape. It can make you rich in mere seconds and drive you to bankruptcy in an instant. You may lose money not only because of a wrong investing decision but because nearly every Forex trade is overshadowed by the possibility of a scam. Conducting your own research and checking the regulatory status of a broker you are interested in is a good enough practice to avoid fraud, but it will not hurt for a potential trader to be aware of multiple ways of how scammers operate and deceive naive Forex enthusiasts. We determined a standard scheme which bad actor generally stick to. Here it is:
As a rule, you are tempted by a colorful ad banner floating around the Internet with promises for good and quick earnings. When you click it, you get redirected to a beautiful website with a convincing welcome trailer. The video will try to make you think that the broker is the best option among the competition to register and start trading. Convinced by these honey words, you, without a second thought, fill in the registration form and provide your personal data.
In some minutes, your personal information will be transferred to the broker’s customer service, and they will melt your phone begging you to begin trading. These babblers know how to make you believe! After a short conversation with such a specialist on the phone, you will most likely decide to make your first deposit of $300-500. And a broker will get a commission of $50 from your first balance replenishment.
But this is only the beginning. If you run into large-scale scammers, they will continue to persuade you to invest further, and you will. Perhaps, you will even win some money while trading with this broker and this will only ignite your passion. Once you have gained enough, you are most likely to want to close your account and receive your earnings. And this is where senior scammers manifest their professionalism!
They will feed you with promises and demonstrate avid activity as if they REALLY are going to close your account and withdraw your funds. In fact, they just mislead you into waiting as long as possible so that you will not be able to file a chargeback from your bank and recover your money. The trick is that such an option is valid only within 6 months of your first deposit.
What To Do If Scammed?
No one is safe against all sorts of frauds at the Forex market, and you are not an exception. But even if you are scammed, there are always options to regain money.
To begin with, you may apply to your card provider or bank with a request for a chargeback. This measure is available only within 6 months after your initial deposit.
Then, you need to cancel your credit card if you have provided its credentials to the broker. The same goes about your online banking password, too, if you have provided it to the broker – change it immediately!
Do not trust so-called “recovery agencies”. Such organizations hunt for scammed and desperate traders and swindle them into pouring their money again. They will persuade you to pay in advance promising to return your money, but in reality, they will disappear without fulfilling their obligations.
To avoid this, you need to opt only for reliable brokers like Capital Markets.