Onboard Capital Review: SCAM Broker?

Onboard Capital - logo
Rating:
1.5

Onboard Capital claims that “Scaling Your Wealth Starts Now!” It’s evident that such statements are common among scam brokers, often used to attract individuals into their networks. Let’s now assess its credibility. Something tells us that the outcomes of our review might be unexpected.

Onboard Capital General Information

Website https://onboardcapital.com/
Phone Number
  • AU: 61242169288
  • UK: 442037583392
Email support@onboardcapitalgroup.com
Address
License
Minimum Deposit $5,000
Assets CFDs
Leverage Up to 1:300
Trading Platform WebTrader

Registration and Client Portal Review

The company’s official website stands out compared to many similar scam projects. It features well-chosen, aesthetically pleasing colors and lacks unnecessary elements.

However, more significant issues arise when it comes to content. Onboard Capital has failed to provide a more extensive amount of essential information for traders on its pages. Legal documents are challenging to find, and the fact that the company only offers translations to English suggests a less global nature than it tries to portray. In summary, the official website fails to impress, indicating a need for more time and effort in its development.

Onboard Capital - website

Registering with the broker seems to be quite involved. Here, you won’t just fill out a small form; you’ll need to provide all the available details, including your date of birth and address. Moreover, Onboard Capital will request you to undergo an assessment and answer some standard questions. They’ll inquire about your financial experience, net worth, and many other things. However, please do not rush to share such sensitive information until you ensure that the broker is reliable. It can be exploited by fraudsters for various malicious activities. Here’s why it’s advisable not to disclose such information until ensuring the broker’s reliability:

  • Fraudsters may use personal details for identity theft, opening financial accounts, or obtaining credit in your name.
  • Sharing information about your financial experience, income, and net worth can make you a target for social engineering. Armed with detailed information about you, fraudsters may use different tactics to convince you to provide additional data or perform financial transactions in their favor.
  • Some fraudulent platforms may sell your personal and financial data to third parties.

Registration

In the Onboard Capital client portal, users may encounter a situation where they are notified that they don’t have a real account, and the only way to unlock it is by funding the account. This practice raises several concerns because such an approach aligns with common tactics used by scam brokers to lure users into depositing funds. Legitimate brokers usually provide comprehensive information about account types and features without pressuring traders to deposit immediately.

Onboard Capital - Client Portal

Onboard Capital Trading Conditions

Certainly, we are keenly interested in exploring the trading conditions offered by the broker. As promised, the platform suggests that users can potentially achieve wealth through trading. Let’s delve into the details and assess whether these trading conditions align with the promises made.

Account Types Review

Onboard Capital features a division into two sections: the Basic and the Advanced. The Basic section encompasses three accounts with minimum deposits ranging from $5,000 to $50,000. The higher the deposit, the more services become available. Traders in this section can expect access to Market reviews, CMTrading E-Book, Webinar Access, Social Trading, VOD Advanced, 1 Risk-Free Trade, Personal Assistant, and a 20% discount on existing fees (Spread/SWAP).

Venturing into the Premium section requires substantial deposits, with minimum amounts reaching astronomical figures. Meanwhile, Onboard Capital offers leverage up to 1:300, with the credit leverage increasing in tandem with the account status. The Premium section comes with its own set of benefits and services, creating a stark contrast to the Basic section and emphasizing the exclusive nature of the offerings for traders with higher account statuses.

Trading Platform

Onboard Capital provides a web terminal for trading activities, but its functionality and user experience leave much to be desired. The platform’s interface, although passable, lacks the sophistication and intuitiveness found in more established trading terminals.

The charting tools and technical analysis features are rather limited compared to industry standards. Additionally, the absence of advanced customization options and the inability to integrate external indicators or trading algorithms may deter more experienced traders seeking a comprehensive and flexible trading environment.

Furthermore, users have reported occasional lags and delays in executing trades, which can be frustrating, especially during volatile market conditions.

Webtrader

Onboard Capital — Deposit and Withdrawal of Funds

Despite the claims on the official website, the client portal of Onboard Capital offers only two methods for deposit and withdrawal: bank transfer and cryptocurrency. The absence of more diverse payment methods, such as credit/debit cards or popular e-wallets, can inconvenience users who prefer these widely convenient options.

The processing time for requests and commissions is not specified on the Onboard Capital website. Without this crucial information, traders may experience delays, uncertainty, or missed opportunities.

Verification

Verification on the Onboard Capital platform is mandatory. Traders are required to submit certain identification documents to verify their identity. Requested documents include a government-issued photo ID (like a passport or driver’s license), proof of address (such as a utility bill or bank statement), and, in some cases, a photo of the trader holding their ID.

To comply with regulatory standards and prevent fraudulent activities, the broker may request proof of financial information. This can include bank statements, tax documents, or other evidence of the trader’s financial standing.

Once all required documents and information are submitted, the broker’s compliance team reviews the details. Successful completion of the verification process results in the trader’s account being confirmed and approved for full functionality.

Additional Options

Onboard Capital offers various additional trading conditions, but their merit is not unequivocal. Consider, for instance, risk-free trades. What do they imply? They suggest that the broker doesn’t actually execute trades in the interbank market but processes them solely on its platform. This gives rise to a conflict of interest. Remember that genuine trading platforms always involve risks. If someone promises risk-free trades, you know it’s deceptive.

Much attention is given here to auxiliary features like a personal assistant, among others. However, note that there is absolutely no information on the official website regarding the trading experience of these individuals. We know nothing about their qualifications, trading skills, or the success or failure of their forecasts. In essence, it’s a pig in a poke. Should you trust the advice of such personal assistants? Definitely not.

Is Onboard Capital a Scam?

The most intriguing part lies ahead. Let’s verify how much we can trust the offerings of this company and how many signs of scams it actually exhibits.

Remember when we advised against sharing sensitive information with just anyone? Well, try to find any legal details on this website. Spoiler alert: they simply don’t exist. Onboard Capital is an unknown broker with an undisclosed history and an unknown place of registration. As for licenses, they remain silent on that front as well. Interestingly, they haven’t even provided an address in their contact information. There are only a couple of phone numbers. Do you think the company is registered in these countries? In one registry, there are no matches whatsoever. In another, there are two companies with similar names. However, one is involved in combined office administrative service activities, and the other in general public administration activities.

As you can see, none of this involves broker services. It turns out Onboard Capital is a completely anonymous scam. So, it’s clear that it couldn’t possibly have obtained a license for its services. Moreover, the astronomical leverage clearly hinted that dealing with this company is better avoided altogether.

Onboardcapital.com Domain Info

The legend of the project really tickled our funny bone. They claim that Onboard Capital started operating in 2005. Seriously? Then why did all the reviews about you suddenly appear in 2023? We even thought that Onboard Capital was the time-traveling broker! Started in 2005 but somehow managed to keep a low profile until 2023. Maybe they were busy perfecting their time machine for the first few years? Time-traveling brokers — now that’s a whole new level of financial innovation.

Well, here’s a plot twist. Our investigation reveals a different story. The domain creation date tells us it has been chilling in the market since 2017. However, wait, there’s more! It was up for grabs until the end of 2023, and only in December did the project’s creators decide to spice things up by adding some content. So, in reality, Onboard Capital has been around for just a few weeks. Yes, definitely a “reliable” broker with an extensive track record!

Domain info

Contacts Review

Onboard Capital provides two contact phone numbers and an email for communication. However, the phone numbers are virtual, and traders emphasize that email responses are not guaranteed. Not to mention, as we mentioned earlier, there’s no physical address provided. Well, it’s quite sparse for a supposedly reliable broker.

Pros and Cons

  • Onboard Capital features an aesthetically pleasing website design with well-chosen colors and minimalistic elements.
  • The absence of legal documents and registration details.
  • Onboard Capital offers only two methods for deposit and withdrawal.
  • Critical information about trading conditions, such as spreads, contract specifications, and minimum trade volumes, is not adequately provided on the platform.
  • Questionable account verification process.
  • Contrary to the claimed establishment in 2005, domain creation data suggests that Onboard Capital is relatively new.

 

3.0 TOTAL SCORE

Onboard Capital Summary

Onboard Capital - favi

In the grand finale, it appears that Onboard Capital has decided to contribute to the world of finance by offering something truly unique. Oh, wait a minute, no. It's a usual scam. The broker doesn't even bother providing real evidence of its “reliability.” It's probably better to stay grounded in the real world of trading and leave such financial theatrics like this one for fun.


Website information content 3
Client Portal 3
Trading conditions 3
Trading platform 4
Deposit and withdrawal 3
Verification 4
Extra options 3
Licenses and guarantees 1
Feedback 3

Frequently Asked Questions (FAQ)

What Does Onboard Capital Offer?

Onboard Capital claims to offer a variety of trading services, including a web terminal for trading activities. However, the lack of comprehensive and transparent information on the platform raises concerns about the actual range and quality of services provided.

How Much Money Should I Invest With Onboard Capital?

According to the trading conditions presented by Onboard Capital, the minimum deposit requirement starts at a hefty 5,000 euros. This amount appears considerably high, especially considering the lack of clarity and transparency regarding the offered services.

Is Onboard Capital Safe?

No, Onboard Capital does not appear to be a safe option. The platform lacks essential documents and regulatory compliance, raising red flags about its legitimacy.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Andrew Garfield

    Beware

    There is no demo account available, and the first account offers no services, making it essentially pointless. Scammers lure you into depositing a minimum of $15,000, claiming to provide some service on the second-tier subscription. Onboard Capital is created by anonymous fraudsters, likely with the sole intention of scamming unsuspecting individuals. Investing your deposit here seems like a one-way ticket to a loss.

    Reply
  2. Andrina

    HELP

    HELP I made the mistake it appears and deposited $300 with onboard, how do I get it back?

    Reply