Abin Capital (abincapital.com / Abin FX) Review – The Red Flags You will Find With This Scam
Abin Capital Broker Rating
You may have in-depth understanding of the financial markets, an excellent trading strategy and a lot of experience, none of it is going to matter if you do not have reliable and professional online broker. If you wish to succeed, you have to have a good broker by your side that can offer you the right instruments, platform and tools for your journey. This is not something you should ever compromise on, but finding such a company is easier said than done. There are countless brokers operating online and these include both genuine and scam platforms, with the latter quite well-disguised, as this Abin Capital (abincapital.com / Abin FX) review reveals.
Most people who decide to engage in online trading nowadays are fully aware that these scams exist, but this does not mean that they will be able to avoid them. Having knowledge about fraudulent platforms is not enough if you do not know how to identify them. If you think they will come with a warning sign, or something along the same lines, you are in for a surprise because that does not happen. As a matter of fact, most of these brokers look similar to authentic ones, as it is what they want you to believe.
But, this does not really make them legitimate and you can get to the truth if you do some research. No matter how hard they may try, they will not be able to conceal the red flags that show just who they really are. You only have to be committed to finding out the truth and save yourself from falling into a trap. Are you ready to do that? It is a good idea to do this with Abin Capital (abincapital.com / Abin FX) that is claiming to operate from Austria and is offering crypto trading services that are in high demand these days.
Oddly enough, its website is in German, but Abin Capital (abincapital.com / Abin FX) has shared its Terms and Conditions in English, which does not make sense because it should have them in a language that its potential clientele will actually understand. This is only the starting point of red flags that you will encounter, as there are numerous others. You can check some of them out here:
Lack of regulation
If there is one red flag that you should never ignore in an online brokerage, it is their lack of regulation. You should bear in mind that the regulatory status of a company can often distinguish between a legitimate and fraudulent platform. Brokers that obtain a license have to go through a specific process that requires them to meet an established criteria and their operations and activities are also monitored. They can offer you transparency, security as well as accountability, so they are undoubtedly a safer bet.
Therefore, the fact that Abin Capital (abincapital.com / Abin FX) does not have a license is a big concern. As stated above, it claims to be based in Austria, which is part of the European Union. In accordance with the EU rules, online brokers have to have a license to provide their services, so the lack of license is a major red flag because it means that the company is operating illegally, if it is indeed based in Austria. According to its website, it has its offices in Wien, Austria.
But, there is no mention of regulation on the Abin Capital (abincapital.com / Abin FX) website and you can also check the online register of the regulatory body of Austria and not find the brokerage listed anywhere. This means that it cannot be offering its services in the Austrian market at all and if it is, then it is breaking the law, which shows that it cannot be trusted.
The malicious bonus policy
Online brokers have a lot of competition, so it is natural for them to offer various features to draw people to their platform. One of these is trading bonuses that were quite popular once upon a time, but not so much now. Why? This is because many regulatory authorities have forbidden this particular offering in their respective jurisdictions and the same applies to the European Union. Brokers operating in EU-member countries cannot offer trading bonuses anymore.
Yet, you will find that Abin Capital (abincapital.com / Abin FX) is doing so, which is a big red flag that cannot be ignored. What’s worse is the malicious policy that accompanies the said bonuses, which is the primary reason why they were banned. According to the bonus policy, traders will not be allowed to make withdrawals from their accounts with the broker until they have met a certain turnover requirement. The turnover requirement is so huge that even the most professional traders may not be able to achieve it.
This means that you will not be able to make withdrawals from your account at Abin Capital (abincapital.com / Abin FX) and they will be able to keep your funds. What could be more of a red flag?
No professional trading software
The trading software is how you do your trading, as it connects you to the market and gives you the tools required for making well-informed decisions. Every broker offers a different trading software and you will find that Abin Capital is providing a web-based trading platform. The problem is that such software tend to be very limited in terms of features and functionalities.
They are not even remotely close to what industry-standard platforms like MT4 and MT5 can offer to traders. The same is the case with Abin Capital (abincapital.com / Abin FX) offerings, as it is an oversimplified and basic software that cannot help you much.
Poor trading conditions
The trading conditions that you will find at Abin Capital (abincapital.com / Abin FX) leave a lot to be desired because they are downright poor. First off, there is no mention of leverage and this is a red flag. It implies that either you are not offered a leverage, or you do not know how much you are offered. Both of these are undesirable because they limit your profitability and increase your losses. Plus, the spreads are as high as $26, which is considered excessive to say the least.
These red flags make it apparent that Abin Capital (abincapital.com / Abin FX) is not even close to the definition of a reliable and professional broker and is an utter scam.