Millbank Capital Review
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Millbank Capital, operating through websites like millbankcapital.com and mlbcapitalpro.com, has been exposed as an untrustworthy and fraudulent broker. Despite its claims of being a leading hedge fund based in London, UK, there is evidence to prove otherwise. In this Millbank Capital review, we mention all the red flags and deceptive practices of this broker.
Overview of Millbank Capital
- Websites: millbankcapital.com and mlbcapitalpro.com
- Address: United Kingdom
- Regulatory Status: Unregulated
- Current Status: Website suspended or inactive
Millbank Capital claims to be a prominent broker based in London. However, its glamorous claims crumble under scrutiny as the broker lacks legitimacy, regulation, and operational transparency.
Key Red Flags
Unregulated Broker
Millbank Capital is not listed in the Financial Conduct Authority (FCA) register, the UK official database of regulated financial firms. Despite its claims of operating out of London, this firm has no regulatory approval or oversight.
ASIC Warning and IOSCO Alert
The ASIC, one of the leading regulatory bodies, has flagged Millbank Capital as a scam. ASIC alert was later echoed by the International Organization of Securities Commissions (IOSCO), further solidifying the broker’s dubious reputation. These warnings should deter any potential investor from engaging with this entity.
Inactive Website and Services
Currently, the Millbank Capital websites appear to be suspended or inactive. Existing users cannot log in, and new registrations are not accepted. The platform’s inability to provide access to trading technology or a list of tradable assets raises serious questions about its legitimacy.
Deceptive Business Practices
Millbank Capital claims to be part of a larger, reputable corporation. There is no evidence to support this assertion, and the broker has failed to verify the authenticity of its operations.
Nonexistent Support and Withdrawal Policies
The broker’s customer support is a farce, with inactive phone numbers and an email address that doesn’t accept messages. Despite advertising 24/7 customer assistance, it is not possible to reach the support team.
Similarly, the withdrawal process is shrouded in mystery. Legal documents contain vague and insufficient details, making it clear that retrieving funds is impossible.
Why consider Millbank Capital a Scam?
Millbank Capital fits the profile of a classic scam broker. Its lack of regulation, inability to verify its claims, and numerous lies about its operations leave no doubt about its fraudulent nature.
False Claims of Regulation
The broker blatantly lies about being regulated in the UK and Australia.
No Trading Technology
Without access to a trading platform or verified tradable assets, there is no proof that Millbank Capital offers legitimate financial services.
Inaccessible Customer Support
Reliable brokers provide clear and accessible communication channels. Millbank Capital does not.
Suspicious Business Practices
The lack of a withdrawal policy and inactive operations indicate a deliberate intent to deceive and defraud clients.
Conclusion
Millbank Capital is a textbook example of a scam broker, employing deceptive practices and false claims to lure unsuspecting investors. Despite its facade as a London-based hedge fund, this entity lacks regulation, transparency, and operational credibility.
Warnings from ASIC and IOSCO, the broker’s inactive websites, and nonexistent customer support leave no doubt about its fraudulent nature. Begin your recovery journey now with CryptoScams.com.au.