Let’s get one thing out of the way – Broker Capitals is an unregulated lying scammer with a faulty website. The company behind the entire fraudulent idea is an anonymous SVG con artist. Their supposed UK regulation never happened. In contrast to what the site claims, Broker Capitals does not have the authorization to sell its services and products.
Joining the site at the time being is disabled due to unresponsive servers. Most of the conditions and attractive trading parameters are just hanging in thin air without a chance for confirmation. Broker Capitals assumes all new investors will just accept whatever lies they’re fed and hand over their cash to this fraud.
If we pair that with a warning by Italian CONSOB, you get a picture of a typical scamming business:
Broker Capitals review has the purpose to remove doubts and shine a light on the true state of things considering this broker’s activities. Stay with us and find out.
|Company||Broker Capitals Inc.|
Regulation and Security of Broker Capitals
Declarations about owning a license do not make a broker legit. It takes a long, expensive, and complicated process to get authorization from an esteemed financial body like FCA. The UK financial watchdog oversees the activity of more than 50 000 companies. Conditions that new brokers have to meet in order to get a license are
- Starting capital of at least £730 000
- Fund protection through segregated bank accounts
- Bonuses forbidden
- Leverage restriction to 1:30
- Negative balance protection
- Compensation fund
- Transactions Reporting
Those are some major standards brokers have to provide proof of. Only then will they have a chance at gaining permission to perform brokerage activities. Not being in the FCA commercial register is evidence of Broker Capitals not being legit.
Not to jump to conclusions too soon, we’ve also checked the databases of other top-tier regulators like ASIC, CySEC, NFA, IIROC, BaFin, FINMA, and CNMV. Our dubious broker is in none of them.
We’ve already disregarded Broker Capitals’ claims about SVG regulations as fictitious. The financial authority in that area doesn’t engage in licensing and supervising the brokerage operations.
Not only are Broker Capitals not regulated, but they are lying about it. All we found and the warning by an EU regulator are proof enough that this fraud isn’t trustworthy!
Trading Platform at Broker Capitals
After a missing regulation, the next disappointment came from the trading platform Broker Capitals offers. A simple browser-based distribution can hardly be competent enough to please the trading needs of professional traders.
While it can still be of use to beginners to practice, the software doesn’t have a genuine purpose. The only motive that drove Broker Capitals to make a defective trader a default terminal is its potential for manipulation.
You see, the scammer has to make you believe you are making money. Trading software can generate any data they want you to trust. Based on that, you will be investing more. What helps Broker Capitals achieve that is a simple web platform. Never trust or trade on anything similar!
Broker Capitals Trading Instrument
We can hardly describe some of the trading conditions we see on the site as attractive. As much as 1:1000 leverage seems like a great chance for winning, the loss is also considerably bigger. Otherwise, costs don’t seem overly high, especially with EUR/USD spreads starting at 0.6 pips. Trading is done on several groups of CFDs:
- CFDs on currencies (AUD/CHF, CAD/CHF, CHF/JPY, EUR/AUD, EUR/GBP, EUR/USD )
- CFDs on stocks (Apple, Amazon, Boeing, Walt Disney, Intel, Coca-Cola, Pfizer)
- CFDs on indices (CAC 40, DAX INDEX, Dow Jones, Nasdaq, Nikkei, S&P 500)
- CFDs on commodities (Aluminium, Palladium, Coffee, Corn, Crude Oil, Platinum)
- CFDs on ETFs (iShares iBoxx, QQQ)
Broker Capitals Deposit and Withdrawal Method
Transfers at Broker Capitals are available via credit/debit cards, bank wire transfers, and e-wallets which the site doesn’t specify. Since Broker Capitals didn’t allow us to enter, we couldn’t access the client portal and check what deposit methods are available.
Some unrealistic expectations are related to withdrawals. The processing time is estimated to take only one business day. No fees happen unless the bank charges on their part. Broker Capitals supposedly doesn’t enforce additional charges.
This is, of course, not confirmable until depositing takes place first. Because of that, you have to take everything this scammer declares with a dose of caution. Frauds tend to unexpectedly change whatever trading conditions they wish.
Offshore Brokers’ Techniques
Broker Capitals is easily one of the brokers that’s mixing up lots of opposing information to confuse the customers.
While lies keep piling up, someone new to the whole foreign currency trading idea might get impressed. Unsuspecting victims are usually novice traders looking for a guiding hand to lead them into the Forex world. Especially vulnerable and unfamiliar with scammer techniques, they become main targets.
Well-trained agents use any means necessary to make their new investors believe their fabricated ideas of wealth and riches. They may even convince them a dedicated account manager will handle their capital and trade for them. All the investor has to do is enable access to their money which will be gone before they even suspect anything.
Best Performing Forex Brokers
Many big names are in the game when it comes to the foreign exchange market. Numerous brokers compete to provide the best imaginable trading conditions to win as many new clients as they can. Online Forex market makes thousands of investors win or lose daily and trillions of dollars are turning 24/5.
Choosing the right broker that meets all your trading expectations can sometimes be a real piece of work. We’ve done the hard part for you and filtered out the best.
The brokers included in our table are world-class service providers, so don’t feel shy to try them out:
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Broker Capitals Summary
We’d be of utmost gratitude if this Broker Capitals review helps at least some new traders or those having doubts about this broker. Our undivided opinion after thorough research is that Broker Capitals is an anonymous SVG company without permission to offer brokerage services.
Their promised helping hand will actually push you into the vicious vertigo of lies and deceit that can only end with you losing your life savings. Before letting this happen, choose some of the brokers we offer. We advise you to at least give them a shot and see how trading can turn into real enjoyment and pay off at the same time.
FAQs About Broker Capitals Broker
Is Broker Capitals Legitimate Broker?
Broker Capital is an incognito firm with a questionable reputation and without the needed licenses for brokerage activities.
What is the Minimum Deposit for Broker Capital?
Account opening at Broker Capitals only costs $200, which is what reputable brokers usually offer also.
How Long Does it Take to Withdraw from Broker Capitals?
Processing time supposedly takes just one day. Coming from a scammer, this information is not credible.