Overview of Greenfields Capital Review:
With scam brokers lurking around innocent traders to trap them in the one-step where they aren’t cautious enough, the Finance market was soon considered untrustworthy by many. While we came across several legitimate firms that had trust and an issued license from the regulators placed at their foundations, they were many others who were trapping innocent victims and stealing all of their hard-earned money. With all the alarming complaints that we received, we decided to properly investigate and bring to you this Greenfields Capital review. Read on to know more about the Greenfields Capital scam.
Who are they?
Greenfields Capital is a CFD trading platform that is web-based. The company also offers over 100 underlying assets for trade to its customers. The company offers to trade in a number of forex pairs, as well as CFDs that include commodities, indices, stocks, ETFs, and cryptocurrencies as well. Surprisingly, this brokerage firm also offers a variety of different crypto coins to their customers. Despite all the baseless claims on the website, the company has been successful in receiving a lot of negative reviews on the internet. Let us find out the reason behind all these reviews and complaints against Greenfields Capital.
Greenfields Capital Regulation:
Upon searching through the whole of their website, we were not able to find out any detail on which regulators are they registered with or whether they have a license or not. From this, it is clear that the company, Greenfields Capital is not regulated. Upon reading a little about the brokerage firm, we found out that the company is owned and operated by Premium Peak Ltd. upon researching about the parent company; we found out that Premium Peak Ltd. apparently has two different addresses which are located in the UK and the Czech Republic. However strange this may sound, it is equally strange in reality as Premium Peak Ltd. does not have a license from either of the two regulatory authorities. For a broker to operate in the market legally, they must issue a license from the regulatory authority of their country.
To get the license, the brokers have to go through a series of tests which makes them bound to the customers’ safety. The regulators have made it compulsory that a legitimate broker must not offer or demand anything that is unnecessary or can bring harm to the customer such as high leverage or a spread, minimum initial deposits, high withdrawal fee, etc. Therefore, if you find any of the brokers asking for a high minimum initial deposit or offering high leverage, be extremely cautious. Another interesting fact about Greenfields Capital is that six of the major financial regulators have issued warnings against this scam broker. The regulators are the Financial Conduct Authority of the UK, the Estonian Financial Supervision Authority, Financial Markets Authority of New Zealand, The Czech National Bank, the Securities Market of the Republic of Panama, and the Monetary Authority of Singapore.
Greenfields Capital’s Minimum Initial Deposit, Leverage, and Spreads:
Without failing our expectations, Greenfields Capital walked on the path that every scam broker does and demanded a minimum initial deposit of 250 dollars. As we have said before, no legitimate broker would ask for such a huge amount as the initial deposit. The maximum that a legit brokerage firm can ask for is 10 to 15 dollars. We advise our customers not to trade or invest with the brokerage firms that ask for a high initial deposit. One should conduct proper research before investing with any broker.
Similarly, the leverage offered by Greenfields Capital is 1:300. This is yet again, very huge leverage and proves that Greenfields Capital is a scam. The regulators advise against such high leverages as it merely increases the chance of the broker suffering a loss. Now, our readers must be confused as to how the leverage can lead to loss. The sole purpose of the scam brokers while offering such high leverages is to trick the victim and lure them in. High leverage usually increases the risk of the customer enduring a loss or a win. With the leverage as high as 1:300, the probability of the trader losing in the trade is more. The leverage is capped at 1:30 in Europe and Australia whereas it is 1:50 in the USA. The spread that this brokerage firm offers is 4 pips. This is yet again a very high number and is a clear indicator that Greenfields Capital is a scam.
Greenfields Capital Account types:
Although not much information is available about what all the different account types offer, we came to know that Greenfields Capital offers three different types of accounts to their customers namely, Basic, Standard, and Pro. The minimum deposit for Standard and Pro are not given on their website whereas the minimum initial deposit of the Basic account is 250 dollars. The spread is fixed in the Basic Trading account and it is said to be floating in the other two, i.e, Standard and Pro. Apart from the basic offers and demands, the brokerage firm also provides their account holders of the Standard trading account and the Pro trading account with a personal account manager, priority withdrawal, risk management plan, etc.
Greenfields Capital Trading Software:
Greenfields Capital provides its own trading software to the customers. This trading software does have nice charting and other amenities, but the question arises that why didn’t they chose the trading software that is widely used in the market such as Meta Trader 4 or the MT4. The lack of using MT4 as their trading software yet again raises suspicion on why the broker is doing all this. This plants yet another red flag indicating the Greenfields Capital scam.
Conclusion: Is Greenfields Capital Scam or not?
To conclude all that has been said above, Greenfields Capital is a scam. We advise our readers not to trade or sign up with this scam broker. The sole motive of these scam brokers is to steal all the money of the innocent victims and flee. One must always invest with legitimate brokerage firms.