A Total Scam! Capital IM Limited Makes So Many Blatant Excuses for Denying Client Withdrawals

Capital IM Limited, a forex broker whose vision was to be the world's leading financial company trusted by retail and institutional clients, has betrayed the trust of its clients, with complaints alleging rogue behavior by the broker in refusing to pay its clients. Let's unmask this fraudulent broker full of lies.

Peruvian client reports Capital IM Limited’s requesting multiple payments to withdraw his funds

asking to pay taxes

In a complaint submitted in May, a trader from Peru said Capital IM Limited threatened to freeze his account after he made two tax payments on demand unless he paid an additional $1,000.

requesting account activation fees

The trader revealed in a July replenishment that Capital IM Limited asked him to pay $1,000 to activate his account. After he paid, a system pop-up prompted that the account was only activated at 50%. 

Capital IM Limited requested a further top-up of $1,000 to bring the activation to 100%. However, after he deposited another $1,000, the client was informed that the activation rate was 99.9%.

The fraudulent broker claimed that 100% activation could enable normal withdrawals, but completely prevented the client from reaching 100% activation. 

Malaysian client reports pending withdrawal at Capital IM Limited

account verification amount required

Capital IM Limited kept insisting on verifying his account before his withdrawal was processed, which required a sum of money (over $3,000), according to a trader from Malaysia.

On August 7, the trader provided screenshots of the evidence, adding that Capital IM Limited's claim that their bank demanded verification was unfounded, as they have no issue accepting deposits.

a purported trading experience fund needs to be canceled

After the client’s June 25 withdrawal of $10,000 was rejected, Capital IM Limited sent him an email regarding a $4,083 trading experience fund. The email stated that the client could only request a withdrawal if he contacted his investment broker to cancel the fund.

an unknown frozen amount needs to be settled

A withdrawal of $30,000 submitted by the client on July 29 has been pending, and Capital IM Limited explained that its Finance Department was told by the bank the withdrawal had been unprocessed due to a frozen amount of $1,556, which allegedly the client owed to the platform. The client’s request for a deduction from his account balance was refused, and Capital IM Limited asked him to use online banking to transfer the funds.

The series of gimmicks and demands for additional transfers by Capital IM Limited constitutes a scam! Its falsified regulatory status tells us it is a complete scam!

Uncovering illegitimacy of Capital IM Limited

Capital IM Limited claims to be registered with the Financial Crimes Enforcement Network (FinCEN), but a search of FinCEN’s database shows no record of this company. Please also note that FinCEN makes it clear that MSB registration does not represent authorization to engage in financial activity.

Additionally, the broker asserts it is registered in the UK. If true, it would need authorization from the Financial Conduct Authority (FCA) to operate. However, the FCA’s records show no evidence of Capital IM Limited’s legitimacy in the UK. Furthermore, Capital IM Limited claims to have the ID number 0555620 from the National Futures Association (NFA). However, this number is not available in the NFA database.

As a result, Capital IM Limited is a totally unregulated and fraudulent forex broker.

Tips for protecting yourself

Certain brokers may specify a particular percentage for withdrawal fees, but do not believe any claims that you need to pay extra fees to withdraw your funds. Legitimate brokers will not ask for taxes, account activation fees, verification fees, etc.

Do not be swayed by the urgency created by scammers. No matter how severe they describe the situation, they just want to get your money as quickly as possible.

Scammers are skilled at forging documents or statements from banks or regulatory agencies to convince you to transfer funds. Capital IM Limited is a prime example, claiming that their partner bank needs to verify client accounts but refusing to disclose bank details, using the excuse that they cannot interfere with the bank’s decisions to dupe and fool clients.

Finally, due diligence and license checks are crucial before investing. Do not engage with unregulated brokers.