This Gitex Capital review is here to reveal more details about this deceptive business. It proclaims to be a reliable broker, yet fails to differentiate itself from a number of scammy entities. This goes without saying!
Almost all broker scams have identical issues. Those issues are often about legal documentation, trading requirements, and regulation. Never trade with this broker. Stay tuned to find out why!
|Platforms||MetaTrader4 and MetaTrader5|
Security and Regulation at Gitex Capital
A legitimate broker has a license, duly administered by a regulatory body. Gitex Capital is not one of those brokers. The firm works from the notorious offshore fraud haven of St. Vincent and the Grenadines.
What is the catch about St. Vincent after all? The government has declined to regulate its Forex markets, and everyone knows that. This indicates that scammers can set up everything there and avoid responsibility for their plans.
And even if the business from St. Vincent you are trading with is not deceitful, which is extremely rare, there are no guarantees it has what it takes to endure the volatile markets. Most of these broker scams disappear into thin air after a few weeks.
Fact: Note that numerous newly registered broker scams will claim they use MT4 and MT5. Never let them convince you that this is accurate! Make sure to do your research first!
Trading Software Available at Gitex Capital
The venue that claims to use the latest technology and innovations is actually a substandard Webtrader that is miles behind both MetaTrader4 and MetaTrader5 in terms of function. The platforms in question (MTs) are leading the market and come with superb features such as Expert Advisors, complex indicators, and innovative charting tools.
In addition, the spread delivered by Gitex Capital’s web platform is below the industry standard- 3 pips for EUR/USD while most of the legit brokers on the market offer a buy/sell variation of 1 pip and below. So, traders pay $30 to open a lot of EUR/USD when it normally costs $10. GitexCapital’s services are pricey, which is a compelling reason alone to avoid this brokerage.
As for leverage, it’s 1:100 by nature and can’t be changed under any conditions. GitexCapital creates a dangerous trading environment where clients can lose their money very quickly because of the lack of flexibility. Keep this in mind!
Gitex Capital Deposit and Withdrawal Options
$250 is the lowest deposit amount that this broker offers. This may be a trait as traders will still be able to get a chargeback for up to 540 days. However, the refund may be problematic due to the offshore location of the brokerage.
Withdrawals are quite unknown except for the bonus limitations. Yes, whenever customers take incentives, they’ll get banned, as there is a minimum trading volume they should meet to become qualified for withdrawal. This volume is 25 times the bonus and the deposit. You will never be able to reach that requirement.
Also, note that GitexCapital fails to determine what 25 times means, and there’s the ideal scam clause giving the brokerage the reason to postpone or deny requests. If you want to withdraw, GitexCapital might ask you to trade 2500 lots. Be mindful of this!
Tip: There are corporations that market systems—signal sellers or certain bots—and usually sell unsafe things that do not yield profitable results. These fake web pages often prey on new traders on numerous venues or forums. Keep this in mind as it may save your funds!
How Do Offshore Brokers Execute the Scam?
Fake forex brokers have many questionable patterns. You will see noticeable withdrawal issues and negative reviews. Similarly, you will come across extremely high fees. Beware that these massive fees, again and again, extend beyond 20%.
Correspondingly, they will combine some sort of profit fee. Fake websites will want to rip off you of these fees before taking up a withdrawal. Understand that this is essentially always the case!
Besides, there are always gains that they swear by. This is another recognizable fraud scheme that you should keep in mind. These fraudsters promise guaranteed profits. Trading with leveraged instruments carries risks. Never look over this!
Any broker scam will keep telling you that the profits are guaranteed. Trade with reliable and regulated brokerage firms. Licensed brokers come from the EU, the United States, the UK, and Australia. These need to publish a warning about the percentage of clients who experience losses on their media.
The Best Brokers for Forex
Let’s take a look at some of the best brokers at the moment! Stay tuned!
|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|
Writing this GitexCapital review was quite impressive. We wanted to save future traders from losing their well-deserved money. Aside from having a bogus address, this broker has a weird minimum deposit requirement.
It’s best to carefully check all the firms before you perform any transaction. We do hope that this GitexCapital review has been worthwhile after all.
FAQs About Gitex Capital Broker
Is Gitex Capital Trustworthy Broker?
Gitex Capital broker is not trustworthy and not legit at all. Try to stay away from it!
Is my Money Safe with Gitex Capital?
No. This is a broker scam, so your money is not safe at all. Be aware of this fact!
How Long Does it Take to Withdraw From Gitex Capital?
It can take forever. Why? Well, this is a broker scam and clients cannot get their funds.