Elland Road Capital: Is it a Legitimate Online Trading Platform?

Welcome to our Elland Road Capital Review, where we investigate the website at EllandRoadCapital.com.

On May 1, 2023, we received the following complaint:

I lost $18,507 after investing it for trading with EllandRoadCapital.com in March 2023. They falsely assured me that I would become a multimillionaire within six months. By the end of March 2023, they claimed that I had lost the entire amount. The account manager’s name is Ali R, and his email address is ali.r@ellandroadcapital.co.

So is Elland Road Capital a SCAM?

Elland Road Capital review - Screenshot of ellandroadcapital.com

EllandRoadCapital.com Review

EllandRoadCapital.com was registered for two years on April 11, 2022, through GoDaddy.com, LLC. It is protected by Cloudflare and a Privacy Service provided by Domains By Proxy, LLC.

There’s another domain, ellandroadcapital.co, which redirects to ellandroadcapital.com, registered on August 8, 2022, for one year also through GoDaddy.

On SimilarWeb, they have the following description:

lead the way you trade with elland road, an online trading company that is more than standard, offering the best-selling cfd assets such as stocks.

They are ranked 456,725 globally and 36,759 in Switzerland. In March 2023, they received almost 73,000 visits from Switzerland, Brazil, India, Sweden, Taiwan, and other countries.

Their Semrush Authority score is 23%, with 942 backlinks from 219 referring domains.

This indicates that this is a moderately popular website, making it highly dangerous if it’s a scam.

Get in touch with our affiliated Cryptocurrency Forensic Specialists at CNC Intelligence for free by filling out the form below.

    Moving on to check out the homepage at ellandroadcapital.com, we learn that Elland Road Capital is an online trading platform that offers users the ability to trade various financial instruments, such as Contracts for Difference (CFDs) in Forex, Stocks, Indices, Commodities, and Cryptocurrency Futures.

    The website offers different account types (Classic, VIP, and Gold) with varying leverage levels, spreads, and other features.

    Who is behind Elland Road Capital?

    The company behind the website is Elland Road Capital PTY LTD, a South African investment Firm.

    It is authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP (Financial Service Provider) License Number 52127.

    The company’s registration number is 2021 / 939672 / 07, and its registered address is Office 162, First Floor, Willow Bridge Centre, Carl Cronje Dr, Cape Town, 7530, South Africa.

    We confirmed with the FSCA that Elland Road Capital (PTY) LTD is an authorized financial service provider registered with FSP No. 52127 since 2022. Customers can contact the FSCA by calling this number: +27800203722 (+27 is the South Africa area code).

    Elland Road Capital PTY LTD and NEWBLOCK TRADING LIMITED belong to the same group of companies. NEWBLOCK TRADING LIMITED is at 26 Anthemidos Street, Panthea, Mesa Gitonia, 4007 Limassol, Cyprus.

    Nibra Services Ltd, incorporated under the laws of Cyprus with registration number ΗΕ 439204, acts as the payment agent for the company and has its registered address at Andrea Kariolou, 38 DOT 38, Ground Floor, Agios Athanasios, 4102, Limassol, Cyprus.

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    You can contact Elland Road Capital through the following methods:

    1. Phone: +27101572581 (a valid South Africa number).
    2. Live chat
    3. Email: inquiries@ellandroadcapital.com

    Elland Road Capital PTY LTD has a complaint procedure to ensure fair and timely treatment of complaints. To submit a complaint, fill in and submit the complaint form or contact complaints@ellandroadcapital.com.

    The Compliance Department will process and review the complaint. Within five business days, they will acknowledge receipt of the complaint and provide a unique reference number.

    They will attempt to resolve the complaint within six weeks. If further investigation is needed, a holding response will be issued, and the outcome of the investigation will be provided within one month of the holding response.

    If unsatisfied with the final decision, clients can submit a complaint to the Financial Ombudsman of South Africa.

    In South Africa, several Ombudsman schemes handle complaints related to financial services. One of them is the Office of the Ombud for Financial Services Providers (FAIS Ombud) which deals with complaints against financial service providers.

    Before submitting a complaint to the FAIS Ombud, you must try to resolve the complaint with the responding party.

    After receipt of the final response of the responding party, you have six months to submit a complaint to the FAIS Ombud.

    You can complain with the FAIS Ombud by filling out their online complaint form or contacting them via phone or email for assistance.

    Elland Road Capital Reviews

    On Reddit, there’s a post on r/singaporefi in which a user asks about Elland Road Capital’s legitimacy. Some users warn against investing with them due to negative experiences, while others say they are a legitimate company.

    The comments discuss the standard KYC procedures for anti-money laundering and the risks of investing in leveraged trading.

    Users recommend investing with a local broker holding a MAS CMS license for a more convenient and safer trading experience. A Capital Markets Services (CMS) License is a type of financial services license granted by the Monetary Authority of Singapore (MAS) for businesses that conduct certain activities regulated under the Securities and Futures Act (SFA).

    Elland Road Capital has a 4.3 rating from 32 reviews on reviews.io, with 94% of reviewers recommending the company. However, one anonymous verified reviewer experienced a loss of $23,500 and faced issues such as being pressured to increase their account balance, poor account/portfolio management, and untimely communication. The reviewer also criticized the company’s trading strategy and lack of concern for client finances. They advised potential clients to think twice before investing with Elland Road Capital.

    Elland Road Capital has a rating of 4.04 stars out of 98 reviews on Sitejabber. While most reviews praise the support team, there are also negative reviews accusing the company of fraud and scamming customers out of their money.

    These negative reviews specifically mention manipulative account managers pressuring customers to invest more and not allowing them to withdraw their funds. They warn others to avoid Elland Road Capital and not to trust their promises of profits.

    The company has responded to each review, apologizing and stating that they are investigating each situation.

    Some customers have claimed that the company engaged in fraud did not respond to support requests or withdrew money and charged hidden fees. Elland Road Capital has responded to some of these negative reviews, apologizing and asking for more information to investigate the issues.

    On Trustpilot, the company has a TrustScore of 2.5 out of 5, with a majority of 1-star reviews. While some customers have praised the company’s support team, others have reported negative experiences.

    Many negative reviews accuse the company of fraud and scamming customers out of their money, explicitly mentioning manipulative account managers pressuring customers to invest more and not allowing them to withdraw their funds. These negative reviews warn others to avoid Elland Road Capital and not to trust their promises of profits.

    Customers have also reported fraudulent behavior, harassment by phone, false advertising, and staff cheating on trades. While Elland Road Capital has responded to most of the negative reviews, apologizing for any inconvenience and promising to investigate the situation, some customers have reported difficulties refunding their money.

    Overall, many customers warn against investing with the company and recommend others to stay away.

    Complaint We Received

    Recently, we received the following complaint from one of our visitors:

    I’ve invested $500 and I need to withdraw my cash. My account manager has ceased communication since I made the investment.

    On September 12, 2023, we received the following complaint:

    I lost $500, which might not be a large amount for others, but it represents a month’s worth of expenses for my family. Mr. Yasser Sayed contacted me, explaining an investment opportunity in trading. Although I told him I had no experience, he assured me that a manager would handle everything and there would be no chance of loss due to a stop-loss mechanism.

    I initially invested $250 with Elland Road and was assigned Mr. Aman as my representative manager. I think he had zero experience in trading. They showed me a $35 profit within two days and encouraged me to invest more. When I refused, he stopped trading on my behalf. He later called me to ask for an additional $250, to which I again said no. He explained that he had been on holiday and that the company’s policy only allowed trading with 30% of the total investment, something I hadn’t been informed about before.

    Reluctantly, I invested another $250, making my total investment $535, including the initial $35 profit. However, Mr. Aman subsequently incurred a loss of around $200. When questioned, he blamed market conditions. He then invested the remaining amount, resulting in further losses.

    After this, he stopped answering my calls and emails. I resorted to sending him confrontational messages, at which point he called me to suggest that there might be an error, as my amount should still be there. After another two days, he finally admitted the loss and asked for more investment to cover it. I declined, expressing my dissatisfaction with his irresponsible and careless behavior.

    In summary, it was a terrible experience, and I strongly advise against investing your money in this scam platform.

    On November 10, 2023, we received the following complaint:

    Started on October 5th, 2023 – Ended on November 3rd, 2023. A person named Ismail will talk and ‘pressure’ you to top up, where he will teach you all his methods to maximize credit card funds. My funds exceeded the maximum allowed by 150%, and I depleted my personal savings as well. In total, it was USD 13.2k. They lure you with all the profits they claim to make from oil and gold, but then tell you that your current deposit is too low to trade in these two markets. They advise you to top up more and open some very unfavorable trades, leading to a lot of losses. I tried to stop trading twice when I sold off everything at a loss and requested the balance back. They would delay and persuade me to top up my deposit again and start trading from scratch. Finally, when every dollar in my trade account was gone, they said, ‘I told you to top up, but what did you do? You created all the losses, and what do you expect? I can’t sit around all day for you unless you pay me USD 500k or USD 1 million – so that I can fully sit down beside you and coach you.’ The idea of paying them USD 500k to 1 million for coaching is absurd – in fact, it’s a trap. Lesson learned – stay as far away as possible from here; it’s another kind of hell on Earth.

    On November 28, 2023, we received another complaint:

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    I started investing in Bitcoin in October 2023, only to realize that I had inadvertently become involved with Elland Road Capital. They required several documents, which seemed unusually strict, perhaps to appear legitimate and raise expectations of high returns in the foreign stock market. Initially, I was asked to deposit $250, but their persuasive techniques led me to invest more, totaling $7,000. Much of this was borrowed money, as they pressed for quick action. In the last two days of November 2023, I found the platform locked, raising my suspicions of a scam. The next day, the platform was accessible again. An account manager called, urging me to continue investing and deposit more funds. I expressed my intention to withdraw instead, citing a lack of funds for further deposits. Despite this, he continued to encourage me to trade, but I refused to make any additional deposits.

    Bottom Line

    In this Elland Road Capital review, the company’s legitimacy is investigated following a complaint from a user who lost $18,507.

    Elland Road Capital is an online trading platform that allows users to trade various financial instruments, such as Contracts for Difference (CFDs) in Forex, Stocks, Indices, Commodities, and Cryptocurrency Futures.

    It is important to note that trading CFDs is complex and involves a high risk of losing money rapidly due to leverage. The website disclaims the risks associated with trading CFDs and advises potential investors to consider their investment objectives, experience level, and risk tolerance before trading.

    The company behind the website is Elland Road Capital PTY LTD, a South African investment Firm, authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa.

    While the company has a moderate level of popularity, there are mixed reviews, with some users reporting negative experiences and accusing the company of fraud and scamming customers out of their money.

    The bottom line is that Elland Road Capital is probably not a full-fledged scam. Still, CFDs, in general, are in the gray area and close to being a scam themselves as they are very similar to binary options, which have already been banned as OTC (Over-the-counter) trading instruments in much of the world. CFDs are illegal in the USA and for a good reason.

    You should realize that CFD trading is a form of financial gambling and not real investing such as that which is done on financial exchanges. You are “playing against the house,” and winning is almost impossible.

    We would not recommend investing money you cannot afford to lose, mainly if you are not located in South Africa and can enjoy the protection of your local regulator.

    If you have fallen victim to online scams, please inform us by commenting below. If you have suffered a substantial financial loss, do not despair. We are here to assist you in recovering your funds!

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    3 thoughts on “Elland Road Capital: Is it a Legitimate Online Trading Platform?”

    1. Ellan road Capital is worst trading platform, do not fall in trap.

      I personally do not recommend ellandroadcapital.com I had a bitter experience lost lot of money, please do not fall in trap with the account managers.

      All the charges are too expensive, swap charges particularly. No one will help you in earning here.

      Account managers will always call you for deposit and misguide in wrong direction to go your trade in big loss. Osaja is one of the account manager who does these kind of tricks. I don’t know if they get good commission if you make a person to deposit all the times by loosing all the trades. But never trust this guy! Earning by cheating others will definitely make you suffer one *******@Osaja. Mark my words!

      Account manager always calls on deposits and not to help on trades, they initially show some low profits and then always call you to deposit saying you will get more profits. I was initially interested to learn trade with a deposit of 250$ and tried a few with the help of them which was good. Then account manager called me and asked me to deposit 5000$ saying Gold is running good, you will get a lot of profit. I didn’t have so much money with me, finally he convinced me to deposit 1250$ which I did while he was on screen sharing. This is not something I wished for! (I had swipe out credit card with complete limit I had)

      After depositing he told me to kick off a trade BUY for Gold when it is@ 1985 point, check my trades. Is this something do you recommend when Gold is at a high price? He didnt explain me how swap charges rates and wat to do if it doesnt reach that point? This is purely and intentionally making the client to go into huge loss.

      I’m using a different trade broker now(Octafx), where such kinds of things never occur. Excellent service and very good support.

      I never knew how I got trapped into their trade broker service(Ellan Road Capital)

      1. we’re truly sorry to hear about your unfortunate experience with Ellan Road Capital. While we can’t assist in the recovery of losses below $5,000, it’s crucial for traders to be aware of the risks, especially when dealing with over-the-counter (OTC) trading platforms. We appreciate your sharing your experience as it serves as a cautionary tale for others.

        By the way, here’s our OctaFX Review. If you can share your experience with the broker, it will be very helpful. Thank you

      2. Steps how I faced the number of…
        Steps how I faced the number of fraudulent issues after registering to Elland road:
        1) You just click the URL and curiously enter the email Id details
        2) Their person will immediately call you and insist very politely to complete your registration and they will add credit of amount $50(This is 1st trap) to convince you. The minimum amount is 250$ to get yourself registered They will also insist to use credit card only as the other payment option will not work.
        3) They will very humbly help you to enable your international transaction feature (This is 2nd trap)
        4) Immediately their sales person will start calling you on Zoom meeting to start trading. He will get familiar to you and also some of your monetary related issue
        5) You will be happy to see some positive trading for 2 to 3 days.(This is 3rd trap)
        6) Now sales person will insist to add some more amount.
        7) You will somehow add minimum again and that is 250$.I have also added.
        8) Since I had a doubt on overall withdrawal process I tried to withdraw some amount. This sales person has immediately call me to know why I am withdrawing my amount. Not sure why I did not suspicious about it, but you will need to give justification to withdraw your own amount (Why we need to justify not sure). He said that without my approval you cannot. Which should have clicked to me, but he immediately asked that since he is SPOC for me and all my issues will be addressed by him and that is the reason I need to contact only him. He asked me to share the bank account and IFSC code to deposit the money. The account details taken by him is never visible in withdrawal section and also did not see any transaction ID.
        9) Sales person will leave you alone for some days so that you can do some transaction on you own if you don’t add any more money which he has insisted for.
        10) In my case the transaction was going in loss and hence to sustain I have to add more money.(4th Trap)
        11) Since I was not taking his call almost for a week and also did not add anymore money, thinking there is some problem around overall process, but was not sure so decided not to add anymore money irrespective if it profile /loss. Vey next week, the day has arrived i.e. 25th July.
        A) I received the SMS for same card from which I have done the payment to ELLANROAD that about 729$ is deducted without any OTP and so on. And immediately second SMS. Lucky me since I have added the limit in the card. I got my card blocked immediately, but there was loss of 729$ which also reported dispute
        B) On the same day after blocking my card I tried to withdraw some amount from Ellanroad (so initiated the process) since already was suspicious about the incident and my transaction was showing some profit.
        C) Shahz immediately call me during office hrs for completing one transaction, and since that day I was little disturbed with overall incidence happening,I think I did realize but till the time I can conclude he has given last blow. He insisted to complete it since will not take much time. In hurry I did not realize this person was not looking for any profit for me but wanted to get my account closed by enabling major loss. Within 5 minutes all my amount got vanished. I have added the details of my last transaction. Within 5 min it was 400+$ loss and that also closed my all other transaction too.
        I can share the call record logs for 25th July too.
        I have share all my experience step by step. Hope this can help other to decide wisely. Also somewhere I wish to get my hard earned money back. Not sure how and who can help.

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