Provident Capital Review
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Read Provident Capital Review to know if this broker is legitimate or a scam.
Selecting a reliable and legit broker for your investments is a very serious yet important decision. Choosing a broker by just reading about their services and conditions mentioned on their website is not enough. One has to go through proper research to learn every detail regarding the broker. There are countless things that needed to be kept in mind before choosing your right investment partner. most of the investors make a common mistake of not doing enough research and investing a huge amount with them, later on getting scammed and losing all their money. Several important factors need to be checked before actually depositing a huge sum of money with any broker.
The best way to know about any broker is to read the review. To learn about Provident Capital, let have a descriptive look at the Provident Capital review.
Provident Capital Review
Provident Capital claims to be a licensed broker. As mentioned on their website, Provident Capital is a multi-asset brokerage firm offering Forex and CFD investment services and is dedicated to ethical trading practices. Starting in the year 2017 and headquartered 37th Floor 1, Canada Square, London, E14 5AB, United Kingdom, the broker has 8 other offices also across the globe. Provident Capital offers its investors the products and services such as Cryptocurrency Index Trading, Forex Trading, Stock Trading, Commodities Trading, and financial services, etc.
Regulation Status –
The investors are always advised to invest their funds with a legit and licensed broker which is regulated by the financial authority. Here, Provident Capital seems not regulated by any legit financial regulator which clearly states that your funds are not safe with this broker. It is a clear red flag to avoid investing with this broker in order to keep your funds safe.
Account Types –
The accounts offered by Provident Capital are Normal, VIP, and Platinum with minimum deposits of $100, $3000, and $10000. However, the minimum deposit offered by the majority of the forex brokers is $250. Here, Provident Capital offers the minimum amount of $100 which seems not to be legit and different from the basic amount that is usually set up by the brokers in the market. This creates a sense of doubt in the mind of investors.
The information regarding the withdrawal and deposit process is not mentioned on the website, again making the relevancy of the broker doubtful. Terms and Conditions of the trading are also missing making it clear that the funds are not at all safe with this broker.
Several reviews and complaints have been filed against the trustworthiness of Provident Capital. The negative reviews by the client’s state to lack of regulation and missing of important information.
Although Provident Capital claims to be a licensed company, it is not as transparent as they claim. Several brokers claimed that the broker in indulging in manipulating prices and freezing positions. They do this so; the user can not earn much profit out of them. Apart from this, withdrawing the amount is also a task because of several technical difficulties they are facing.
Is Provident Capital Scam or Legit?
By reading the above-mentioned points, it can be made clear that the Provident Capital scam is true and the broker should be avoided at any cost. Several numbers of dissatisfied clients of the broker make it clear that one should not move ahead with their investments with Provident Capital. To keep their funds safe and earn a profit, the investors should look for a legit and genuine broker, that is regulated by a legit financial authority. If you are a victim of Provident Capital scam or any other forex scam, crypto scam, etc, reach out to us at Report scam and we will guide you in the lost fund recovery process.