Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • grahamdi
    • By grahamdi 25th Jul 16, 9:54 AM
    • 3Posts
    • 0Thanks
    grahamdi
    Delta Capital Markets a con?
    • #1
    • 25th Jul 16, 9:54 AM
    Delta Capital Markets a con? 25th Jul 16 at 9:54 AM
    Hi
    Has anyone heard or used Delta Capital Markets ?

    Have just been looking through my late fathers details and find that he has subscribed and deposited monies into this. There doesn't seem to be that easy to withdraw his funds from it.

    Regards
    Graham
Page 1
    • Keep pedalling
    • By Keep pedalling 25th Jul 16, 10:25 AM
    • 3,563 Posts
    • 3,836 Thanks
    Keep pedalling
    • #2
    • 25th Jul 16, 10:25 AM
    • #2
    • 25th Jul 16, 10:25 AM
    No more a con than any other type of gambling site. Have you tried calling them?
    • Linton
    • By Linton 25th Jul 16, 10:39 AM
    • 8,182 Posts
    • 8,045 Thanks
    Linton
    • #3
    • 25th Jul 16, 10:39 AM
    • #3
    • 25th Jul 16, 10:39 AM
    Their website gives contact details for Accounts and Support. Have you tried them? With what result?

    At first sight they dont look like a con, but rather a platform for high risk gambling on short term movements in foreign exchange, shares and commodity prices. On the other hand perhaps it is a little worrying to see their URL was registered in August 2015 especially as they claim that "DCM is a well-established online brokerage in the binary option market".

    Also they have a Disclaimer which says.....

    Delta Capital Markets is the trading name of Annax Global Ltd, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960.........

    Which doesnt restore one's confidence.
    Last edited by Linton; 25-07-2016 at 10:42 AM.
    • DesG
    • By DesG 28th Dec 16, 11:36 AM
    • 1,240 Posts
    • 443 Thanks
    DesG
    • #4
    • 28th Dec 16, 11:36 AM
    • #4
    • 28th Dec 16, 11:36 AM
    Shall we play spot the shill?
    • fwor
    • By fwor 28th Dec 16, 12:00 PM
    • 5,860 Posts
    • 3,918 Thanks
    fwor
    • #5
    • 28th Dec 16, 12:00 PM
    • #5
    • 28th Dec 16, 12:00 PM
    The withdrawals are easy to handle.
    Originally posted by margoadler
    I haven't looked in any detail at Delta Capital Markets, but generally the model that a lot of these offshore companies use is to keep offering customers "bonuses". Their trading rules are such that all of your trades, and all of your losses, get made with your original stake (or any extra cash that you get persuaded to add), so that in the end all of the money in your account is "bonus" money.

    They typically then have a rule that makes it very hard to actually withdraw any "bonus" money.

    And if you look at the Terms and Conditions for Delta Capital Markets, you find, way down in Section 12:
    "In order to qualify for a withdrawal with an account at Delta Capital Markets that has been awarded a bonus, the total funds deposited and the total bonus must be turned over twenty times. By way of example, if client deposits £1000 and receives a £1000 bonus, client must achieve a turnover of £22000 or more in order to be eligible to withdraw any funds. Turnover is defined as the sum of the value of all trades made excluding the value of any trades that have been cancelled either by the client or by Delta Capital Markets.
    In the event of a withdrawal, either for full or partial amount of the total deposit be requested without meeting the redeemable terms, the following actions will take place:
    The bonus or any benefits will be subject to cancellation immediately."
    • doe808
    • By doe808 28th Dec 16, 12:24 PM
    • 250 Posts
    • 226 Thanks
    doe808
    • #6
    • 28th Dec 16, 12:24 PM
    • #6
    • 28th Dec 16, 12:24 PM
    Shill. Dead ahead Captain. Located at 10:43am.

    Set phasers to Spam
    Total - £340.00

    wins : £7.50 Virgin Vouchers, Nikon Coolpixs S550 x 2, I-Tunes Vouchers, £5 Esprit Voucher, Big Snap 2 (x2), Alaska Seafood book
    • ColdIron
    • By ColdIron 28th Dec 16, 12:46 PM
    • 3,376 Posts
    • 3,950 Thanks
    ColdIron
    • #7
    • 28th Dec 16, 12:46 PM
    • #7
    • 28th Dec 16, 12:46 PM
    Shill. Dead ahead Captain. Located at 10:43am.

    Set phasers to Spam
    Originally posted by doe808
    Nah, the poor Engrish and obvious nature of this sill serves more purpose by remaining than removal
    • Gambler101
    • By Gambler101 31st Dec 16, 1:23 PM
    • 497 Posts
    • 1,224 Thanks
    Gambler101
    • #8
    • 31st Dec 16, 1:23 PM
    • #8
    • 31st Dec 16, 1:23 PM
    Any amount invested in this scam would have the same result as betting on number 40 at roulette.
    The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX
    • tadworth01
    • By tadworth01 2nd Feb 17, 6:13 PM
    • 2 Posts
    • 0 Thanks
    tadworth01
    • #9
    • 2nd Feb 17, 6:13 PM
    Stay clear of DCM and the like
    • #9
    • 2nd Feb 17, 6:13 PM
    I made the mistake of opening a managed account with DCM and was duly "awarded"with a bonus. For the first few months, according to the online display of my account, all went well and the balance increased nicely with an apparent trading success rate of around 90%. However, in the last month the success rate has fallen to 50% and in recent days it has fallen to near zero. So I am locked in with their requirement for the initial deposit and bonus to be traded 20 times - I am a long way off achieving this for several years - and have to watch my investment being whittled away as the losses come from my deposit and is not shared with the bonus. I now doubt whether the trades shown are/were honest (i.e. my deposit losses are simply DCM siphoning off my deposit into their coffers) and I can't close the account to cut my losses.

    Are any other investors experiencing the same thing?

    Stay clear of this company.
    • Upstart
    • By Upstart 1st Mar 17, 5:25 PM
    • 2 Posts
    • 0 Thanks
    Upstart
    Not for the faint hearted!
    Its ridiculous to lock people in for that long - thats the prob with taking their' bonus'. The other problem is not really knowing if it's actually a scam or not - there are so many warnings about this kind of investment. On the surface it seems all ok and profitable so far during my initial trial - but until I actually withdraw I will never know. On the plus side, I have already withdrawn a proportion of the initial investment out of profits without any problem - they actually encouraged it!! So maybe its ok - or maybe that's part of the plan. I just don't know.
    • Golfer145
    • By Golfer145 20th Mar 17, 3:23 PM
    • 1 Posts
    • 0 Thanks
    Golfer145
    Hi

    This company is engaged in scamming money from decent people. I have lost a considerable sum with them . DCM is supposed to be a binary trading company and when you invest it all looks pukka . But when you try to get money back from your account you have no chance of getting it back. I have written to their compliance department ..what a laugh that is as they comply with none of the terms on the account. It is a complete scam ..buyers beware
    • Upstart
    • By Upstart 18th Apr 17, 5:11 PM
    • 2 Posts
    • 0 Thanks
    Upstart
    Hi Golfer145 Have you trie any of the officlai financial complaints channels for fraud reporting?
    • Malthusian
    • By Malthusian 19th Apr 17, 9:50 AM
    • 2,866 Posts
    • 4,097 Thanks
    Malthusian
    Hi Golfer145 Have you trie any of the officlai financial complaints channels for fraud reporting?
    Originally posted by Upstart
    Do the Marshall Islands have an official financial complaints channel?
    • tadworth01
    • By tadworth01 25th May 17, 10:32 AM
    • 2 Posts
    • 0 Thanks
    tadworth01
    I have reported DCM to Action Fraud and have handed complete logs of all transactions made by DCM on my account to the police. If enough victims make reports something might get done before DCM close down and make off into the sunshine. Practically all my deposit with DCM has been lost by what looks like deliberate manipulation of the trades - how else would the success rate be down at 20% averaged over the last 20 trades.

    Is there anywhere else one can report DCM's activities?
    • RK1972
    • By RK1972 16th Aug 17, 9:12 AM
    • 1 Posts
    • 0 Thanks
    RK1972
    I've also been conned by DCM. I opened an "income" account with DCM; this awards quarterly dividends. I've tried to withdraw funds after 12 months, but have been informed my account manager had been switched my account to a growth account (1 year lock in from final deposit) without my consent. The account manager who made the switch no longer works at the company. Lodged a formal complaint with compliance and after 8 weeks they have been unable to provide me with evidence of a consented account switch (they will not release phone summaries or transcripts as this is against "company policy"). The "position" success has now fallen to <10% and my account value has depleted. I've reported the company to the FCA & action fraud (along with accounts into which the deposits were made).
    Hopefully they won't be able to operate much longer.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

180Posts Today

1,823Users online

Martin's Twitter
  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion! https://t.co/UGvWlMURxy

  • Luciana is on the advisory board of @mmhpi (we have MPs from most parties) https://t.co/n99NAxGAAQ

  • Follow Martin