This independent Onboard Capital review will totally change your mind about Onboard Capital, a so-called broker that purports to process 18k orders daily. After interacting, probing, and uncovering more about them, I thought I should set the record straight. That’s why I put together and published this unbiased review of Onboard Capital. Please read on before you jump into transacting with this supposed broker as they might potentially be a disguised scammer. Without further ado, let’s get into it, starting with the company summary according to its website:
| Company | Onboard Capital |
| Website | onboardcap.com |
| support@onboardcapitalgroup.com | |
| Telephone | +61242169288(Australia).+442037583392(UK). |
| Physical Locations | United Kingdom and Australia. |
| Trading Instruments | Forex, CFDs, futures, cryptocurrencies, commodities, and stocks. |
| Account Types | Real accounts. |
| Real Account Types | Bronze(Basic).Silver(Basic).Gold(Basic).Platinum(Advanced).Diamond(Advanced).Premium(Advanced).VIP(Advanced). |
| Onboard Capital Broker Minimum Deposit | Depends on the account type: Bronze(Basic): $5,000. Silver(Basic):$15,000.Gold(Basic):$50,000.Platinum(Advanced):$100,000.Diamond(Advanced). $250,000. Premium(Advanced): $500,000. VIP(Advanced):$1,000,000. |
| Leverage | Depends on the account type: Bronze(Basic):1:100. Silver(Basic):1:100.Gold(Basic):1:200.Platinum(Advanced):1:300.Diamond(Advanced):1:300. Premium(Advanced):1:300. VIP(Advanced): Individual. |
| Discounts On Existing Fees | Depends on the account type: Bronze(Basic): 5%.Silver(Basic):10%.Gold(Basic):20%.Platinum(Advanced):30%. Diamond(Advanced): 40%.Premium(Advanced): 60%. VIP(Advanced):90%. |
| Platform | Web Trader. |
Is Onboard Capital(onboardcapital.com) legit or a scam? To answer this question, it seems that the broker engages in fraud and unethical business practices. While the broker claims to, and I quote, “provide expertise, market insights, and tools to help investors make informed trading decisions and maximize profits,” the reality is that they don’t offer any of those services. That means they are flat-out scammers and here are my pieces of evidence to back my assertions:
Onboard Capital Broker Review: A screenshot of Onboard Capital.
1. Onboard Capital Is Unlicensed and Unregulated
Like CMC Trust, Nordic CT, and other scam brokers, Onboard Capital has chosen to operate without the necessary licenses and or regulatory oversight. They’ve opted not to work without any specific rules, regulations, or standards set forth by the applicable regulatory authorities. The broker doesn’t comply with ethical and legal business practices like their scam counterparts.
2. Onboard Capital Seemingly Uses Fake Trustpilot Reviews
In addition, Onboard Capital has questionable Trustpilot reviews. The broker boasts 18 positive reviews on Trustpilot, 72% of which are 5-star. These reviews seem to be fake though and here’s why:
First, when you see that a company’s reviews on Trustpilot are 5-star mostly, it might generally suggest a few bad things. For example, it might indicate that those reviews are biased, not credible, or written by authors with limited perspective.
Secondly, you can see that some of the reviews are regenerated in different ways, using AI. You can check out an example of what am trying to say in the screenshots below and notice how the wordings used in the two Onboard Capital reviews seem pretty much rephrased:
:
Screenshot images showing how Onboard Capital reviews on Trustpilot are fake.
3. Inconsistent Company Age Details
The website claims that Onboard Capital was incorporated in 2005 and it’s 23 years old today. On the contrary, the website’s copyright notice section indicates that the site was published in 2018, meaning the company should be 6 years old as opposed to 23 years old now. This is backed by Scamadviser and WHOis both of which show 6 years as the age of the domain.
The inconsistency in the details regarding the company’s age leaves you questioning which version is accurate. Is it 23 years as the company website purports or 6 years as the above scam checker websites indicate?
In my experience, the lack of clear information when it comes to a broker raises serious credibility issues that can only be attributed to a scam broker.
4. Onboard Capital Uses Paid Bloggers
Notably, many blogs tout Onboard Capital as a legitimate financial broker without providing tangible evidence. I think those blogs are misleading potential investors by providing inaccurate information.
For example, a blog known as “Finserving” falsely states that, and I quote, “the OnBoardCapital broker platform allows you to get a comprehensive idea of its interface and other features through the demo account.”
Here’s a link to that review article: https://finserving.com/brokers/onboardcapital.
Well, I signed up and logged into my Onboard Capital account, but I did not see anything like a demo account. Only a live account option was available as you can see in the screenshot below:
A screenshot shows only live account types are available for Onboard Capital.
However, a few trustworthy bloggers e.g. Personal Reviews have reported otherwise regarding the authenticity of Onboard Capital. This author has warned that the so-called broker will lure you to deposit money and then hand you over to a purported “retention agent” who’ll, in turn, try to dupe you further.
5. Unrealistic Trading Fees Discounts
Legitimate brokers earn revenue mainly by charging investors a small percentage for each trade. Sometimes a broker may offer a little discount, which is not a significant percentage, just to encourage traders to trade more.
Unlike this, Onboard Capital offers huge unrealistic trading fee discounts of up to 90%, almost the entire fee. In reality, a broker who does that would find themselves out of business sooner than they could have anticipated.
In my experience, the promise of significant, unrealistic, trading fee discounts is a common tactic that scammers will sometimes use to lure more unsuspecting customers. At the end of the day, these purported discounts are hot air.
6. Delayed Withdrawals
According to Money Saving Expert, most credit card companies allow you to reclaim your money when you initiate the chargeback process within 120 days of your transaction. After the window has elapsed, you can no longer file a chargeback successfully.
The Personal Reviews blog warns that Onboard Capital understands this general policy well and the company exploits it for its benefits. It delays withdrawal requests, taking customers in circles until the customers’ chargeback windows expire. Sadly, the broker eventually closes down the customers’ accounts, making away with their hard-earned money just like that.
7. The Absence of Terms and Conditions
The Onboard Capital website deliberately lacks terms of service that clearly outline the rules, rights, and obligations of both parties(i.e. the company and the client). This is a major red flag, raising serious doubts about the broker’s legitimacy and transparency. After all, it indicates a possible fraud and a lack of a legal framework alongside dispute resolution mechanisms.
My Final Verdict On OC
Onboard Capital is a smart scam broker who seems to be working with unscrupulous bloggers to swindle unsuspecting investors. Despite the broker not having a license or being subject to any regulatory authority, these bloggers portray them as an authentic broker. Don’t be deceived, this broker does not honor withdrawal requests and they use fake reviews. Plus, they operate without terms and conditions and give false information regarding the company. Last but not least, they promise false, unrealistic broker fee discounts of up to 90% just to lure more investors.
I hope this unbiased Onboard Capital review helped you avoid this scam broker.
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