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With over 100 assets available for trading, Boss Capital also offered 11 commodities including platinum, coffee, oil, sugar, gold, copper and silver. The website was simple yet effective. The layout was perfect for the beginners. The graphs were easy to understand and the best feature was the provision of commodity/currency pairs such as Gold/EUR, Gold/JPY etc…
Based on the Tech Financials platform, Boss Capital was once known as the most innovative binary options broker. The broker offers over 24 indices (International), currency pairs, commodity pairs, and Cryptocurrency (Bitcoin). The provision of MoneyBookers (Skrill) deposit/withdrawal was praised highly by the traders. The Gold and VIP account allowed the traders to withdraw their money instantly i.e. within less than 24 hours (via Skrill). Boos Capital didn’t entertain the traders from the US.
The broker has become a part of history but it is important to have look at the patterns and features of this broker to learn something about the industry. Some of our readers requested to review this broker to see whether Boss Capital warnings had something to do with the closure of the platform.
Boss Capital Review Summary
Cost: $250+
Recommended: No (See Our Top Ranked Legit Program Here)
Rating: 0/100
Summary: Boss Capital had a bit of an up-and-down ride over the years, especially with various dodgy marketing tactics – however Boss Capital is no more & has since shut down. If you lost money to Boss Capital though or had money to withdraw prior to the website disappearing when it shut down then keep on reading this review to see how you can get it back.
Quick Navigation
We have put together an in-depth review of Boss Capital but we appreciate that you may have come here looking for some specific information so as a result to make things easier for you we’ve put together some quick navigation links below:
- Boss Capital Background
- Is Boss Capital Regulated?
- Boss Capital Complaints
- Boss Capital Withdrawal
- Is Boss Capital a Scam?
- Our Verdict on Boss Capital
- Scammed By Boss Capital? Reclaim Lost Money
- Our Top Recommendation For Making Money
Boss Capital Background
Established in 2014, Boss Capital was initially owned by Cheshire Capital Ltd. before the ownership was assumed by Melnic Group Ltd. (Sofia, Bulgaria). Cheshire Capital Ltd. faced some legal issues and was forced to strike-off.
Boss Capital saw a significant level of success because it initially invited traders from the US. Things changed in 2015 when it wasn’t allowed to operate in the US. The provision of the latest technology was a big plus for this broker. But it didn’t hold for on for long. Within a couple of years, the traders lost confidence in Boss Capital. It started to lose traffic on the website. 20% of the traffic came from Canada and it was gone after the issuance of the warning from the Ontario Securities Commission (Canada).
Is Boss Capital Regulated?
Boss Capital was NOT regulated. The Italian regulator, CONSOB issued a public warning on 04-07-2016 claiming that Cheshire Capital Ltd. did not have any authority to operate in Italy (the company owned Boss Capital at that time). The ownership was then shifted to Melnic Group Ltd.
Ontario Securities Commission issued a public warning on 30-01-2017 stating that the Boss Capital was illegally pretending to be a recommendation from of Kevin O’Leary by posting his picture with some promotional content. Kevin denied any link with Boss Capital and made it clear that he never recommended or promoted this broker.
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Well, these are disappointing signs. It is the worst marketing tactic to make false claims. A company can’t do anything more damaging than lying to its potential clients.
Boss Capital Complaints
Boss Capital didn’t suffer too much by the complaints from its clients. The broker actually suffered from the bad luck! It was first owned by a company that was compelled to strike-off. The new owner tried to do well and it did to some extent by introducing the latest technological features. But the bad marketing decisions brought it down. The fake promotion involving Kevin O’Leary was a huge blunder. It triggered a public warning from the Canadian authorities. This incident gave rise to the doubts and the Canadian traders left the platform.
Boss Capital was also attracting US citizens in the beginning but it was restricted by the authorities. The broker never managed to recover. The website went down and it was all over.
Boss Capital Withdrawal
The traders had to submit the withdrawal request in writing. The processing time took no less than 7 working days. After the acceptance of the request, the broker required an additional 7 working days to complete the process.
The traders having Gold accounts could withdraw their funds within one day. There was no withdrawal fee (for the first withdrawal of the month). Following withdrawal during the same month were charged $30 each.
Boss Capital worked hard to facilitate its clients and it minimized the number of days required for the withdrawal process (2017 revised policy). The time was shortened from 7 working days to 4 working days (the first phase i.e. processing the request) and 5 working days instead of 7 working days for the processing of the transaction.
$100 was the minimum withdrawal via Wire Transfer and $10 was the minimum amount you could withdraw via Skrill or Credit Card. You could withdraw up to $20,000 via Credit Card.
The submission of identification documents was mandatory (one-time requirement).
Is Boss Capital a Scam?
Boss Capital faced bad luck for different reasons, mainly associated with legal issues. We didn’t find Boss Capital scam complaints. The warnings from the regulatory authorities brought the broker down to a disappointing end. We don’t have any evidence of unprocessed withdrawals, sudden account closure, or unauthorized access to the trader’s account. It was simply the case of poor management.
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Our Verdict on Boss Capital
We want our readers to stay alert. We have gone through some highly credible and transparent brokers, some of them were even regulated, but they failed to impress in the long run. Boss Capital was not transparent. It wasn’t regulated and the management tried to trick the potential clients with misleading promotional content.
You must continuously observe the warnings issued by the legal authorities. These warnings keep you updated about a broker’s current status. In some cases, the license of a regulated broker was cancelled, for instance, FMTrader didn’t manage to comply with the regulatory authorities and was finally banned and rejected.
Don’t rely on the information from the past. Things are happening quickly in this industry. Binary Options and other online trading platforms don’t remain the same for a long time. They either have new owners, or their policies keep changing. It is better to stay highly alert so that you don’t suffer from an unexpected stroke of bad luck.
Scammed By Boss Capital? Reclaim Lost Money
Boss Capital has just recently closed its doors, and when it did its website immediately went offline. This is good news for future traders as it protects them from falling victim to Boss Capital, but obviously it’s not so good for active traders who had not yet made a withdrawal.
What can you do if you had money to withdraw from Boss Capital? How can you get your money back? No doubt those are the questions running through your mind if you traded with them but fear not, you have landed in the right place.
We have put together a free money reclaim guide which shows you step-by-step exactly how you can reclaim lost funds from a binary options scam & so if you have lost money to Boss Capital then we know the guide will help you get it back.
You can get access to the guide for free by clicking here now.
Our Top Recommendation For Making Money
Were you planning on trading with Boss Capital to make some money? No doubt you will be disappointed to hear that it was a scam that has since closed, however don’t worry – there are plenty of other legitimate ways to make good money.
Whilst carrying out our investigations we have come across many legitimate ways to make good money online however there has been 1 way in particular that has stood out from all of the rest.
This particular way is so good that was have actually decided to name it our number 1 recommendation for working from home & if you are interested in it you can find out more by clicking the link below:
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