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 firstname.lastname@example.org.
So is Elland Road Capital a SCAM?
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 and Brazil and 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.
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 Africa 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.
You can contact Elland Road Capital through the following methods:
1. Phone: +27101572581 (a valid South Africa number).
2. Live chat
3. Email: email@example.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 firstname.lastname@example.org.
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.
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.
Overall, many customers warn against investing with the company and recommend others to stay away.
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 Africa 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 they have scammed you, please share your experience by commenting below.
If you lost money online to scams, get a free consultation with one of our recommended scam recovery companies.