Who is Zilton Capital?
Zilton Capital was an online broker that had offices located in London, UK; this organization’s website has now been shut down. When it was operational, this broker offered trading in crypto and binary options and claimed to be made up of a professional and experienced team of brokers. The minimum deposit required to begin trading was $1,000, and new members could choose between five different types of accounts. Very little information was given on the website regarding trading conditions, and no details of the operators behind this broker were provided.
The Zilton Capital review below investigates whether this broker was a scam or a legit concern and, should the former be the case, looks at what recourse is available to those investors who lost their funds to this organization.
Is Zilton Capital a Licensed Broker?
Zilton Capital was operating without the necessary licenses in place: entities offering any sort of financial or investment service require licensing and need to be regulated by a reputable outside body to provide their services legally.
The presence of robust regulation by a well-respected financial ombudsman is vital for traders to know that they are dealing with a credible, legitimate broker who will be following best practices in all their processes and acting within the bounds of the law. Always make sure that any broker you are considering trading with has a license and regulation in place - this will also give you some recourse, should the broker run into trouble or you feel that malpractice has occurred, in terms of recovering any invested money.
Is Zilton Capital regulated? This broker was not overseen by any regulatory body, nor did it hold the required licenses to offer brokerage services.
Is Zilton Capital a Scam or Legit?
The USA’s Securities and Exchange Commission (SEC) issued a public warning regarding this trader during its time in operation, alerting the public to the fact that it was acting without licensing, and not risking placing any funds with the organization. This almost certainly points to the fact that a Zilton Capital scam was being perpetrated.
The extremely large minimum deposit required by Zilton Capital is a further red flag: most legitimate brokerage platforms ask for between $100 - $250, which is considered the industry standard. Further, their website offered no demo account, which meant that prospective new members were unable to get a good idea of the trading conditions that they could expect to see and work with before investing any funds; a lack of a demo account is considered to be bad practice and can serve as an additional warning that a broker is not legitimate.
Given that the organization’s website has now been closed down, it is extremely likely that Zilton Capital was a scam broker.
Biggest Complaints Against Zilton Capital
The main Zilton Capital complaints are from former investors claiming that this organization was a scam to which they lost a significant amount of money.
As per the above review, there are also suggestions that Zilton Capital made use of a fake SEC certificate to gain the trust of investors and that the phone numbers and addresses listed on its site were fake. There are also a plethora of online complaints regarding the process required to withdraw funds, drawing attention to unreasonably high withdrawal fees in relation to this.
Can I Get My Money Back From Zilton Capital?
The good news is that it is possible to get your Zilton Capital money back if you have been a victim of a scam by this broker. Pursuing the matter yourself may result in a successful outcome but can be time-consuming and stressful. Many people have found that instructing a reputable chargeback company has been the most reliable way to get a Zilton Capital refund and means that a team will fight the case on your behalf, supporting you fully along the way.
What is the Chargeback Process?
Begin by choosing the chargeback company you would like to work with: have a look at your options online and check each company’s success rates as well as reviews from past clients carefully. Once you’ve made contact with your chosen team, a representative will discuss your case fully to decide whether it has a high chance of being successful. If this is the case, then it will be taken on, and the chargeback company will use all the expertise they have and all the means at their disposal to locate your scammed funds and secure a Zilton Capital refund for you. The whole process can take about six months, depending on the complexity of the case - many conclude within a much shorter space of time. In the highly likely case that a successful outcome will be gained, your Zilton Capital money back will be deposited directly into your bank account.
If you have lost money as a result of a Zilton Capital scam, then it’s important to take action as soon as possible to take the first step on the path of recovering your lost funds and instructing a chargeback company to act on your behalf is highly recommended.