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CITY CREDIT

Malaysia|5-10 years|
Suspicious Scope of Business|High potential risk|

http://www.citycreditcapital.com/eng/index.htm

Website

Rating Index

Contact

+60 87 582 268
infoccc@cccapital.net
http://www.citycreditcapital.com/eng/index.htm
Unit Level 11 (E), Main Office Tower, Financial Park Labuan Complex, Jalan Merdeka, 87000 W.P. Labuan Malaysia

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+60 87 582 268

Broker Information

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Company Name

City Credit Capital (Labuan) Limited

Company Abbreviation

CITY CREDIT

Platform registered country and region

Malaysia

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-06-17
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The MalaysiaLFSA regulation (license number: Unreleased) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

CITY CREDIT · WikiFX Survey

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CITY CREDIT · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

CITY CREDIT Review Summary in 10 Points
Founded N/A
Registered Country/Region Malaysia
Regulation LFSA (suspicious clone)
Market Instruments forex
Demo Account N/A
Leverage N/A
EUR/USD Spread N/A
Trading Platforms iTrading
Minimum deposit N/A
Customer Support Telephone, fax, email

What is CITY CREDIT?

City Credit Capital (Labuan) Ltd. (CCCLL), a wholly owned subsidiary of City Credit Investment Bank Limited (CCIB), is a licensed foreign exchange broker that is registered with the Ministry of Finance in Malaysia and holds a suspicious clone Labuan Financial Services Authority (LFSA) license.

CITY CREDIT

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Based on the information provided, CITY CREDIT has some advantages such as a proprietary trading platform and multi-channel customer support. However, the broker also has some concerning disadvantages such as lack of regulation, reports of withdrawal issues, and limited information on their website. It is important for potential clients to exercise caution and conduct thorough research before investing with CITY CREDIT or any other broker.

Pros Cons
• Proprietary iTrading platform • Suspicious clone LFSA license
• Multi-channel customer support • Report of unable to withdraw
• Lack of transparency
• Only forex trading

CITY CREDIT Alternative Brokers

    There are many alternative brokers to CITY CREDIT depending on the specific needs and preferences of the trader. Some popular options include:

    • IronFX: A good option for experienced traders looking for a wide range of trading instruments.

    • FOREX TB: A suitable choice for beginner traders looking for a user-friendly trading platform and educational resources.

    • ForexMart: A decent choice for traders looking for low spreads and fast execution, but lacking in some areas such as customer service.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is CITY CREDIT Safe or Scam?

Based on the information provided, it appears that CITY CREDIT may be a scam. The fact that their Labuan Financial Services Authority (LFSA) license is suspicious and the broker is unregulated raises serious red flags. Investors should exercise extreme caution when considering to invest with this broker, and it is recommended to choose a regulated broker instead. Additionally, it is important to thoroughly research a broker before investing any funds and to be wary of brokers with suspicious or unclear regulatory licenses.

Market Instruments

As CITY CREDIT is an unregulated broker, there is limited information available about their market instruments. However, it appears that CITY CREDIT only offers forex trading to its clients. There is no information available on the number of currency pairs available for trading, leverage, or any other trading conditions.

Trading Platforms

CITY CREDIT offers a proprietary trading platform called iTrading, which boasts a range of features to enhance the trading experience. The platform offers instant executions and promises no requotes or slippage, ensuring that trades are executed quickly and efficiently. Interbank dealing spreads and streaming executable quotes are also provided, allowing traders to access competitive pricing in real-time.

The platform also comes with a free charting package and real-time news, giving traders the tools they need to make informed trading decisions. In addition, traders have access to real-time account and position tracking, allowing them to monitor their portfolio in real-time.

iTrading

With 24/7 platform access, multi-lingual and multi-currency accounts, and simultaneous multiple account access, iTrading offers a comprehensive and versatile trading platform.

See the trading platform comparison table below:

Broker Platform
CITY CREDIT iTrading
IronFX MetaTrader 4
FOREX TB WebTrader
ForexMart MetaTrader 4

Please note that the information provided in the table may be subject to change and it is important to check with the respective brokers for the most up-to-date information.

Customer Service

CITY CREDIT seems to have a relatively straightforward approach to customer service, with the company offering support via telephone, fax, and email. The office address is also provided openly on the website, which could be beneficial for those who prefer to speak to someone in person. Additionally, the availability of a fax number suggests that the broker caters to a diverse range of clients who might prefer more traditional forms of communication.

Customer Service
Pros Cons
• Multi-channel support available • No 24/7 live chat support
• No live chat support
• No social media support
• Only support English and Chinese

Note: These pros and cons are subjective and may vary depending on the individual's experience with CITY CREDIT's customer service.

User Exposure on WikiFX

It is important to exercise caution when investing with any broker, and this includes CITY CREDIT. It is concerning to see a report of unable to withdraw. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Conclusion

As a whole, CITY CREDIT offers a web-based iTrading platform and multi-channel customer support. However, there are some concerns about the regulation of the broker and reports of withdrawal issues, which may be a red flag for potential clients. Additionally, there are not transparent on their trading conditions and deposit/withdrawal. Their website lacks much important information. Overall, traders should exercise caution and thoroughly research before investing with CITY CREDIT or any broker.

Frequently Asked Questions (FAQs)

Q 1: Is CITY CREDIT regulated?
A 1: No. The Labuan Financial Services Authority (NFSA) license is a suspicious clone.
Q 2: Does CITY CREDIT offer the industry leading MT4 & MT5?
A 2: No. Instead, it offers its proprietary iTrading.
Q 3: Is CITY CREDIT a good broker for beginners?
A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its lack of transparency.

User Reviews

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FX1618187016
more than one year
I've got to be honest, my experience with CITY CREDIT has been quite frustrating. I reached out to your customer service, but unfortunately, it was of no help. I ended up losing money because I didn't receive any text messages regarding additional margin requirements. There's a serious need for an upgrade in your margin call system.
2024-02-06 17:55
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0
0
FX1180963881
more than one year
The website is very confusing. . After searching for a long time, I couldn't find any explanation about the transaction conditions. . . It seems that demo accounts are also not available. . Neither does instant support. The information feels opaque.
2022-12-15 14:04
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0
0
FX1155719777
more than one year
This is basically a fake dealer of a deck. After I deposited 20,000 Taiwan dollars, they ignored me. When I proposed to withdraw money, I refused for various reasons. I still have no way to get my money back. I can only warn you not to be scammed by this scam platform.
2022-12-13 10:48
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