In our dealings with a myriad of scam brokers so far, we have seen all kinds of fraudsters; but today, we are discussing an odd duck among financial swindlers — CoreGeneric Capital. This shady brokerage firm is considered unusual because it doesn’t define itself properly. So, whether it is a forex broker or, according to its website, international funds transfer for the exporter (whatever it means by that) or something third, it is still unclear.
Anyhow, one thing is obvious, CoreGeneric Capital operates unlicensed, unregulated, anonymously, and illegally —which are all characteristics of a pure investment scam. Therefore, we recommend going through the following CoreGeneric Capital review to get a better understanding of this phony broker and avoid this and similar frauds in the future.
What is more, we strongly advise you not to invest in JM Trade, Auto FX Trade and IntraO fraudulent brokers.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | coregenericcapital.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | Poland |
| Foundation year: | 2022 |
| Supported Platforms: | MT5 |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | N/A |
| Types of Assets: | Forex |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
Is CoreGeneric Capital a Legitimate Platform?
As introduced, the CoreGeneric Capital broker is not authorized by any financial market regulator to provide online financial trading services anywhere, which makes it an illicit brokerage firm. As such, this bogus entity can’t be trusted with money and is most likely involved in fraudulent trading activities.
Among the scarcity of information on its website, we have discovered that it is allegedly registered in Poland. However, checking the relevant registers proves otherwise — it is not a registered business. But if we disregard this and suppose it is a Poland-based company; in that case, it must adhere to ESMA (European Securities and Markets Authority) legislation, which, in the first place, stipulates that all EU brokers must be transparent and licensed by respective financial authorities.
In Poland, forex providers are regulated by KNF (Komisja Nadzoru Finansowego). As expected, there is no info about CoreGeneric Capital in the KNF database.
Trading with unauthorized brokerage companies is at your own risk since no third parties control their business. That indicates that these brokerage services operate as they please and that there is no funds safety.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Instead of relying on the dishonest nature of CoreGeneric Capital, investing with legitimate companies offers lots of advantages. One of many certainly is the protection of your funds. This is achieved by stringent rules these brokers comply with. For instance, the most reliable FX providers are those licensed by the Australian ASIC, English FCA, and German BaFin, because these tier-one regulators closely monitor every broker, ensuring that everything is by the book. Otherwise, a defaulting firm is penalized and suspended.
Also, traders of licensed brokerage companies are covered against negative events (e.g., brokers’ bankruptcy). For example, ASIC compensates for up to 100,000 AUD per trader. Anyway, this is unlikely to happen since ASIC brokers, as well as BaFin and FCA ones, are financially stable. In other words, due to licensing requirements, they must maintain enough operating capital (several million dollars).
Likewise, regulations lay down that brokers must mitigate risks inherent in trading by implementing negative balance protection and segregating funds in premium banking institutions. Put differently, your losses can’t exceed your initial investment, and you are not affected by a company’s insolvency.
How Reliable Is CoreGeneric Capital Broker?
CoreGeneric Capital is allegedly headquartered in Poland; however, it isn’t licensed under the Polish KNF or any other financial market regulator. By being anonymous and illegal and providing inadequate trading services, this phony broker also violates the mandatory ESMA legislation. Finally, it deceives traders by falsely promising MT5 and favorable conditions.
CoreGeneric Capital Offers Safe Trading Software?
On a very confusing CoreGeneric Capital website, it is promised the availability of MetaTrader 5 (MT5). Although this trading software is among the top platforms in the industry, it is missing here. This empty promise is used as a decoy to lure people into trading with this bogus brokerage firm. In reality, you get an inappropriate web trader that is not safe, nor trustworthy, and can’t ensure productive trading.
For optimum results, choose genuine brokerage services that provide advanced programs like MT4, MT5, Sirix, and cTrader. With these options, you can enjoy plenty of powerful tools such as expert advisors, stop loss, and social trading.
CoreGeneric Capital Mobile Trader
If CoreGeneric Capital provided MT5, mobile trading would have been enabled here. But since this fraud broker doesn’t have any functional trading software, traders can’t enjoy the benefits of a mobile trading app. Modern trading platforms like MT4 and MT5 are accessible from any device, including desktops, smartphones, and tablets. This handy feature enables trading anywhere, anytime at no expense of quality.
CoreGeneric Capital Trade Range of Trading Markets
Speaking of trading markets available at CoreGeneric Capital, it remains unknown what trading instruments are at your disposal. As mentioned earlier, this unscrupulous broker is not transparent about its offering. As per its webpage, it can be assumed that traders can use forex (currency pairs) like USD/EUR, AUD/CAD, and GBP/CHF. Other than that, CoreGeneric Capital doesn’t reveal information on possible tradable assets. One more reason to stay away from this fictitious company.
CoreGeneric Capital – Countries Of Service
When it comes to where this cyber fraud operates, CoreGeneric Capital is geared toward scamming traders from
- UK
- Ireland
- Netherlands
- Canada.
If you are based in any of the aforesaid countries, opt for online brokers that are certified by FCA/UK, CBI/Ireland, AFM/Netherlands, and CFEC/Canada. Keep in mind that every brokerage company operating without evidence of being accredited and regulated by relevant financial authorities is an obvious scam. Lastly, don’t trust positive CoreGeneric Capital reviews on the internet because they are all fabricated.
Also, remember the names of the XTB Global, Bullden and Bitonext trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
What Do We Know About CoreGeneric Capital Account Types?
With reference to the type of trading accounts offered by CoreGeneric Capital, it is again a dead end. Meaning there are zilch details about it. Normally, a broker has one or several account versions that suit different traders and differ in trading conditions. Additionally, as predicted, there is no demo account at CoreGeneric Capital. This option allows traders to practice trading, test platforms, and conditions for free and without risks. If this illegal broker enabled a practice account, you would expose its poor service.
Creating An Account With a Referral Code
Nonetheless, instead of being transparent, CoreGeneric Capital is unambiguous and foxy. It slyly applies an old dirty trick to rope you into investing. For instance, if a trader wants to open a live trading account here, it is only possible with a referral code, which you get from a company representative (e.g., an account manager). By doing so, this con artist is sure that you are ready to invest. So when the broker contacts you, it will try to charge you more than agreed. Thereby, a minimum deposit amount is at the whim of CoreGeneric Capital.
What Is Known About CoreGeneric Capital’s Trading Conditions?
In the matter of CoreGeneric Capital trading conditions, they are a closed book. Needless to say that it goes without any known legislation. However, it is to be expected from a crooked company. So no details on leverage, spreads, and trading fees. Since it is a blatant fraud, it can be presumed that the leverage ratio is too high (i.e., above the 1:30 EU rate).
Spreads are probably manipulated to appear attractive and profitable, e.g., zero or tight spreads. As for commissions, they are supposedly competitive. Bear in mind that this trading environment is made-up; in reality, it is inauspicious and fits only the needs of this broker scam.
Scammed by CoreGeneric Capital Broker? – Let Us Hear Your Story
Don’t feel embarrassed if you have fallen for this financial hoax. Anyone can be scammed. It is essential to act fast. Your first course of action should be to notify the authorities. Also, don’t forget to inform the community by posting negative reviews. In addition, it is possible to get money back thanks to a chargeback. More on that is below.
But What Is A Chargeback?
So if you are one of the unsuspecting victims of CoreGeneric Capital, there is a chance to retrieve your misappropriated funds. A chargeback process depends on the means of payment you have used. For example, credit cards and wire transfers are considered safe since they are fully reversible. With VISA and Mastercard, you can apply for a refund within 540 days. Bank transactions can be terminated but keep in mind that it can be done only if you haven’t approved a transfer.
Lastly, the most challenging to chargeback is a crypto wallet; that is why scammers prefer this form of payment. Anyway, with chargeback professionals, it is possible to reverse even this payment method. In relation to this, get in touch with our company; we can help you get your money back.