Summit Capital Markets

Hi everyone! Guys, please tell me what I should do. I started working with Summit Capital Markets and found favorable conditions, so I deposited another 320 dollars into my account. However, my account was blocked just a few hours after the funds were deposited for some unknown reason. I wrote to Summit Capital Markets support service, but there is no answer. I do not understand what my next steps should be? I am getting seriously worried that I have entrusted my money to dishonest people!! I applied to the bank with a question about the return of money to the card from which I initially transferred funds to this platform, but I was refused there. The bank employee said that the funds were transferred to an individual and therefore the refund is impossible. Is there nothing I can do?

The broker gives very little information about trading conditions and therefore I don't understand whether it makes sense to invest money here. In addition, the administrators of SummitCapitalMarkets promise to provide traders with a demo account, but in fact I do not have a demo account to test the site. Where is this company located? This is also not clear to me. There is no office address on summitcapitalmarkets.com and the presentation doesn't specify the country of registration, so I don't even have a chance to check whether this is a legitimate business. In general, the project has too many “blank spots”. I will note a positive moment: a low threshold for entry. If I can't make money, at least there won't be much damage for my wallet.

I am getting my first experience in trading with this company. I have never done trading before because I thought that this business is very complicated and it doesn't exist for me. However, it worked out well for me with this broker. I entered the project with only 230 dollars and in two months I have almost doubled my capital. I withdrew 45 dollars to make sure that the broker is solvent. I do not know how other clients of this company are doing, but I am satisfied with everything at the moment. I intend to increase the turnover further.

I recently saw an ad for this scam broker on Telegram and then on Instagram. I remember this brand because I came across it many times. I read in the advertisement that it has a super profitable project and all the clients are happy with the profit made in a short period of trading. I read some reviews and decided to go to this site. I looked at what this terminal is and I realized that it is a total scam... Summit capital markets is just a gross deception, and the most primitive one I have ever encountered. The site is not worth even 5 cents, there is practically no information about the company on it at all, the terms and conditions are incomprehensible. The only thing the scammers tell you is how much money they want to get from the client at the start. Although the amount is not high, ‌I am not going to feed the crooks. Only a very naive person would fall for this scam. This is outright financial fraud!!! Besides, the fake intermediary does not mention a word about the business model, although a beginner can guess that Summit capital markets is a typical and ordinary forex dump. So my conclusions are quite clear and logical. Moreover, the organizers of the scam are not the smartest. They couldn't even develop a decent website or come up with a legend that was even remotely credible. All they had the courage to do was post three fake reviews on their page, four or five words each, all of them a meaningless jumble of words. In this way, they want to prove that their scam company is cooperating with decent investors. Why is the site so lame?!! Gentlemen, do not believe the promises of these scammers!!! Here is not only smells like a scam, but very strongly stinks of fraud!

Such a scam broker is able to persuade only inexperienced traders who came to the financial market recently to deposit money. After all, experienced traders will refuse to invest money on summitcapitalmarkets.com even looking at these unclear conditions, not to mention the lack of guarantees. I will still write my opinion in a little more detail, maybe this review will help someone and will be useful. If newbies read the comments 😀 So, as for the lack of guarantees: SUMMIT CAPITAL MARKETS has no license, and this is the most important component of the reliability of the broker, this is what you need to pay attention to first of all. A broker is obliged to get a license, only then it will be considered legal and reliable. There is nothing even said about regulation, so it is logical that this broker does not have a license. Believe me, if there was a license, they would have put it on the main page, so that clients would see this document immediately upon entering the official site. And there is nothing like that here, the scammers don't even mention registration, a license, or their location. In addition, there are other negative factors on this platform (although the lack of a license is enough to make you forget about this false broker), there is also a very short period of work, as the firm appeared recently, judging by the reviews and the domain, as there are no legal documents, details and so on. I will say more about the terms and conditions. First, not all trading parameters are specified on the site and not everything is known to start trading, for example, they do not say anything about commissions and other costs. Secondly, there is no information on spreads and not even a table with current bid/ask. Thirdly, there is no demo account, the terminal is of unknown origin and the contacts are fake. You should not cooperate with such a scam project.