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"Don’t trust CoreGeneric Capital if you don’t want to lose everything," a UK investor claimed.
Abstract：CoreGeneric Capital is an online forex broker that is newly established, recently one investor from the UK told WikiFX that this broker refused his withdrawal requirements. And even worse, CoreGeneric Capital asked this trader to pay an extra tax. Protecting the legitimate rights and interests of forex traders are always the primary concern of WikiFX. In this article, we will expose how this broker scammed the trader based on the evidence gathered by WikiFX.
About CoreGeneric Capital
Registered in Poland, CoreGeneric Capital is an online forex broker established within 1 year. The physical address of this broker is 7 Zlota str., ap. 18, Warsaw, Polan, 00-019. This broker as we know uses the MT 5 as its main trading platform.
Website of CoreGeneric Capital
The website of this broker is not available. It shows us nothing but “come soon” after we opened its website. It is another disadvantage of this broker that you should be aware of.
Regulation: Is CoreGeneric Capital legit？
As we know so far, CoreGeneric Capital is not regulated by any regulatory institution. It does not hold a license, which means it can take traders money away fraudulently without anybody who can hold it accountable. In addition, WikiFX has given this broker a low score of 1.04/10.
Description of the case in brief
An investor from the UK claimed that he invested 40k original with a total trading profit 2.62milion in CoreGeneric Capital. However, when he asked for a withdrawal, the broker blocked his request and asked him to pay an extra 5% tax if he insists on withdrawal.
Evidence gathered by WikiFX
According to the victim, he lost control of his funds when he tried to transfer the funds to his personal account with this broker. He received an email from CoreGeneric Capital, and in this email, CoreGenric Capital asked him to pay a 5% tax. The reason that this broker claimed is that the bank froze investors money.
In order to calm the victim and gain faith, this broker used to deposit $ 1000 to the victims personal account. However, it does not hide the fact that he is a fraud. Compared to 2.62 million dollars, $1000 is not a big deal.
Conclusion:
It is no doubt that CoreGeneric Capital is an unscrupulous broker that can make you lose to the last penny. We highly advise you to avoid this broker as you can. After all, we do not want what happened to this investor could happen to others. All traders should be vigilant when investing in a broker.
WikiFX is actively reaching out to the victim and other traders hoping to find more evidence to help him resolve the problem. Please stay tuned for more information.
WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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