It was cumbersome with TrustPilot and their scam handling. Since Sept 10, 2020, we have been dealing with TrustPilot in the #CapitalWay case. First, the UK FCA issued a warning against Capital Way aka Capital Way Group. A FinTelegram reporter registered with the broker to personally experience the scam. She then wrote a 1-star rating on TrustPilot to warn others. Within minutes after the publication, the review was put under investigation and thus made unreadable due to a complaint by CapitalWay. On Sept 16, 2020, the review was approved.
Scamwarning – online it was!
While the UK regulator FCA has warned against Capital Way aka Capital Way Group pointing out that the operator Eastrigde Capital does not have a license for this business and therefore operates it illegally, the broker on TrustPilot still has an excellent 4.5-star rating.
The approval and thus the readability of the review was provided after we had sent TrustPilot a copy of the FCA warning and a copy of the Capital Way email confirmation of the registration of our FinTelegram reporter to the TrustPilot Content Integrity Team.
Within 24 hours TrustPilot sent an email stating that they (a) checked the documents, that (b) the review would not violate the rules, and (c) would thus be reinstated. Better late than never, we thought!
It is certain that TrustPilot has to work hard to detect scams faster with the help of its reviewers. Sure, TrustPilot has to investigate complaints from its customers – Capital Way is one of these customers. In fact, a lot of bad things are done with targeted negative reviews. But there must also be the possibility to quickly check scam warnings in the interest of the customers or investors.