Who Is Richfield Capital Limited?
Richfield Capital Limited is an online broker that has its offices located in Belize. The organization claims to be a world leader in the provision of financial services and promises that all funds invested will be secure. Its standard account requires a minimum investment of $250 and leverage of up to 1:400 is offered.
The Richfield Capital Limited review below interrogates some of this company’s claims, to determine whether this is a legit organization or a scam broker.
Is Richfield Capital Limited a Licensed Broker?
Richfield Capital Limited does not have the licenses or regulations it requires to trade in the countries in which it offers its brokerage services. This is an indication of a scam broker and a major red flag that money invested with this company is at high risk. The role of regulation is to ensure that organizations are following all the legal requirements and are not acting in a way that could be considered reckless or disingenuous. A regulator can also act as an ombudsman: they provide the opportunity for redress if a broker that they oversee does run into trouble or, through malpractice, causes investors to lose their funds.
If you’re considering signing up with a new broker, it is vital to ensure that they are regulated and licensed, to protect your funds and give you the peace of mind that you are dealing with a legit organization.
Therefore, in answer to the question, ‘is Richfield Capital Limited regulated?’ - the answer is no, it is illegally providing its services.
Is Richfield Capital Limited a Scam or Legit?
One of the key pieces of evidence that disproves the firm’s claim to legitimacy and trustworthiness on their website is its blacklisting by the FCA (Financial Conduct Authority) in the UK. The regulator has issued a public warning regarding Richfield Capital Limited, advising people not to trade with this broker, who, it states, is offering services in the UK without its authorization - which means it’s acting illegally.
Further indication that a Richfield Capital Limited scam is being perpetrated is the fact that this broker does not offer a demo account; this is considered to be bad practice in the industry, as it does not allow new members to get an idea of the spreads and trading accounts available before signing up. Typically, scam brokers don’t offer demo accounts, to deliberately keep this information vague.
Finally, the Meta4 trading platform is not supported by this organization. This platform is used by most legit brokers, as it’s widely considered to be the most reliable, and comes with a plethora of tools and customizable market indicators.
In conclusion, it is highly likely that Richfield Capital Limited is a scam broker, and that funds placed with this organization are at significant risk.
Biggest Complaints Against Richfield Capital Limited
As well as complaints regarding the unregulated nature of Richfield Capital Limited, previous investors have raised concerns, too.
One of the most serious of the Richfield Capital Limited complaints is that it is an arm of the well-known fraud broker 24Option - this organization had its license to trade suspended in June 2020 by the Cyprus Securities and Exchange Commission (CySec).
Can I Get My Money Back From Richfield Capital Limited?
Yes, it is possible to get a Richfield Capital Limited refund. This is something that you may wish to pursue yourself, or there are a number of total chargeback companies that are available to fight the case on your behalf. This is a popular option for the majority of people who have lost funds to a scam broker, as not only is this route most likely to be successful, but it also relieves the victim of the scam from having to go through the stress of tracking down and confronting the perpetrators.
What Is the Chargeback Process?
If you decide to instruct a reputable chargeback team to act on your behalf, then get the ball rolling by making contact with them; most have a simple online contact form on their website.
A member of the team will subsequently get in touch to fully discuss your case and assess its likelihood of success. If it is deemed probable that getting your Richfield Capital Limited money back is possible, then the case will be taken on and the process of information and evidence gathering will begin.
At this point, the team will use their expertise and experience in dealing with similar scams to track down your funds and the perpetrators, in order to secure a Richfield Capital Limited refund. Once this has happened, the money will be deposited directly into your bank account. The process can take around six months to conclude, depending on the complexity of the case.
If you have been the victim of a Richfield Capital Limited scam you are likely to be feeling vulnerable, isolated, and as if there is no way for you to recover your stolen investment. However, a chargeback company may well be able to facilitate getting your money returned to you. It’s important to take the first step as soon as possible, by making contact with a team.