Boss Capital Review
There are certain names that immediately spring to mind when considering binary options brokers. One of these is Boss Capital, which despite having only entered the industry in 2014 has nonetheless become a household name. But at the same time, we’ve all come to know that being a household name in this industry doesn’t necessarily count for a great deal.
The thing is, these days it’s technically rare to come across the kind of binary options scam that seeks to only steal money from clients. Even when you hear of a supposed scammer, they may well do a decent job for some of their customers, in order to drown out the complaints of those they rip off. Which makes spotting an outright scam harder all the time, but what’s the story with Boss Capital? Is Boss Capital a household name you can trust, or quite to the contrary?
Boss Capital – Is it a Scam?
Well, in terms of what Boss Capital claims to offer, all the most important boxes appear to be ticked. They talk of being a new and innovative player on the scene, providing traders at all levels with the most accessible, enjoyable and rewarding trading experience possible. In their own world:
“We strive to be at the top of the binary options industry, providing our traders with the latest technology and most profitable options in the industry.”
“Boss Capital wants to make binary options profitable for every single one of our traders.”
“Our objective is to make the trading process as simple and profitable as possible for any level of trader.”
Unfortunately – and bear in mind this is an early-2017 review – the reality of things just doesn’t add up to an honest and trustworthy broker. For one thing, Boss Capital is not registered or licensed to do business with traders from Canada or the USA, yet they still make accounts available for traders in these countries. If you’ve read the recent review we published on Magnum Options, you’ll see that multiple warnings have been issued against doing business with brokers like Boss Capital for exactly such reasons.
Is Boss Capital Legit?
Which, while we’re on the subject, leads to another interesting pointer about this particular brand. The registered address of Boss Capital is Cheshire Capital Ltd., Cavell House, Stannard Place, Crispins Road, Norwich, NR3 1YE. Which just so happens to be the same address as Magnum Options. And Trade Rush. And Redwood Options. And Porter Finance. And Cherry Trade.
Now, this should probably flag up a fair few questions about Boss Capital immediately. First of all – why is it necessary to operate countless different sites and services under the same company name and address, doing the same thing across the board?
And of course, given the way in which international authorities have warned against Magnum Options, should you be doing business with Boss Capital or ANY of its sibling companies?
But here’s the real kicker – the whole address thing appears anything but legit. There’s a company creation service that goes by the name of http://www.offshore-formations.co.uk/, which basically allows you to create UK businesses with the BC Business Centrum Limited for next to nothing. You open up a company, you make money, people start complaining, you open another company using the same address that isn’t really an address. Which means you get away with it, time and time again, without necessarily breaking any core business establishment rules.
Suffice to say, this doesn’t breed huge confidence in the way Boss Capital does business.
Boss Capital Trading Platform & Tools
So when trading with Boss Capital, you’re basically trading with the exact same business and platform as every one of those mentioned above. Which means that if one is outed as a scam or in any way unsafe, the same applies to every one of them across the board.
In terms of how it works, it’s the usual system of getting customers off to a good start, before things ultimately turn sour. Generally speaking, reports from those working with Boss Capital and its sibling sites talk of receiving ‘expert’ help and assistance from ‘senior’ analysts during the early days, helping them get started and make successful trades. Which they do, ultimately building confidence in Boss Capital and in their own abilities. Which is the point where the switch is flipped and things appear to start going in the wrong direction. Just a couple of examples of real-life experiences we uncovered on the web with the Boss Trade platform as follows:
“Their platform is rigged and you will lose your money, you can count on it. If you accept a bonus, well then you can forget about asking for a withdrawal. Their sales team is like a revolving door and I went through 4 account managers in less than 6 months. Another thing I learned while going through a chargeback process with my bank, they are not in Virgin Islands or British Anguilla as they claim, they are actually based in Israel.” – Source Binaryoptionsblacklist.com
“Traderush is the worst SCAM BROKER in the world. I had a very bad experience with traderush. I deposited USD 250, managed to grow that account to over USD 2100 within a month and half. They suddenly removed the profits I earned as bonus and they closed my account all of a sudden.” – Source Forexpeacearmy.com
So it’s the classic case of brokers doing their best to instil confidence in customers, just long enough for them to step up how much they are willing to invest and put on the line. If you are curious to learn about their bonuses, there is nothing that interesting to them in our opinion. Minimum trading requirements of 20X, 40X or even 50X will ALWAYS apply to any bonus you’re given. But when it comes to tactics whereby customers are made to think they’re making all the right moves and suddenly dealt a hammer-blow, it’s really not what you’d call a cornerstone of honest and transparent operations.
Should Your Trust Boss Capital or Stay Away?
As the content here refers to evidence gathered elsewhere and from established authorities, we cannot confirm that our personal experience of Boss Capital indicates scam operations. But at the same time, the evidence seems so strong we wouldn’t take the chance, either. As far as the AMF is concerned, there are plenty of brands and businesses involved in what they’ve classified as suspicious activities – Boss Capital and its siblings have made it onto the list in style.
TIP: As far as the experts are concerned – not to mention a fair few customers too – there are some very common scam tactics that play out when working with brokers on the dodgy side of the industry. Timer clocks are often changed or deliberately paused, in order to ensure that the investor loses despite the fact that the trade actually won. When this happens, the company wins and the trader loses. Trades also disappear, options get suspended, accounts get frozen, prices are manipulated and so on. The only problem being that these are the kinds of things nobody new to trading has a clue about when getting started. And these are therefore exactly the traders who get targeted.
So if you are a trader looking to stay out of harm’s way and use a broker that is positively reviewed in the industry – we got a list of the TOP-rated brokers for 2017!
Boss Trading Reviews & Complaints
“They are scammers. I have lost trading through their brokers $20000. My 8 months hard work. They call you and make you invest. You lose or win they always make money. They don’t care about what all troubles people get after losing their hard earned money.” – Anil Chandra, October 2016
“Hi People for your inform I got scammed by boss capital with a fake signal from an account manager but with the help of a lawyer who knows a lot about binary brokers I got all my money back in my account. Please visit winchargeback.com. Or find Rebecca Godwin on skype. She nailed boss capital and I got all my lost fund back in my account. A good way to spend my holiday.” – Isabel, December 2016
The Final Verdict
As mentioned, we didn’t put ourselves in a position where we’d allow ourselves to be scammed, but the evidence that stacks up against Boss Capital. There are appears to be trouble, to say the least, based on our gathered research. When our team came across such harsh comments and undesirable Boss Capital reviews, we tried to ensure these were all genuine due to the dramatic negativity.
Based on our findings, we cannot recommend Boss Capital to our traders. We feel that we would be putting investors at risk if we said it was a safe broker. For those that are high risk-takers, enter at your own risk. The primary points of concern we could not highly rate Boss Capital are both the official warnings of suspicious activity and the patterns that emerge between dissatisfied customers.
- Impressive Website
- Good Asset Library
- No Demo Accounts
- Part Of A Company With A Flawed Reputation
- Multiple Reports Of Scam Activity