As you can see, the website of RXK Capital is packed with promises that are appealing to the eye. This brokerage firm proclaims to offer unparalleled trading opportunities for both novice and expert investors alike.
However, upon conducting a thorough RXK Capital review, it becomes quite evident that this firm has more semblance of a fraudulent investment scheme than a reliable broker. Let us delve deeper into the reasons why it would be imprudent to entrust your funds to RXK Capital.
|Headquarters||Saint Vincent and the Grenadines|
|Broker Type||Forex & CFD|
Regulation and Security
RXK Capital has been making fraudulent claims about its legitimacy as a forex and CFD broker. They claim that they are qualified to onboard traders from various jurisdictions, which is entirely untrue. Any broker must possess a genuine license granted by authorized authorities before offering their services on regulated markets.
The case of RXKCapital is quite puzzling because, in their “Regulations” section, they admit that they are currently unregulated. Despite this, they still claim to abide by “all the necessary regulatory obligations.” This situation is highly concerning because RXKCapital lacks a valid forex license and remains virtually anonymous, with their offshore location in St. Vincent and the Grenadines.
Likewise, RXKCapital has announced that they will become a fully regulated broker in the future, but until that happens, no one should count on any of their claims. RXKCapital’s assertions about their legitimacy as a forex and CFD broker are false, and anyone who falls for their deceit could face significant financial losses. Beware of that.
Trading Software Used by RXK Capital
It’s essential to scrutinize every aspect of a broker’s platform before committing to it, especially if it’s a shady one like RXKCapital. Take a closer look at its trading platform, which is where you’ll spend most of your time trading.
Despite RXKCapital’s reputation, their trading platform was developed by a team of “experts.” But don’t be fooled by their credentials. The platform is full of glitches and outdated technology.
The interface is clunky, making it hard to navigate and use effectively. Trading execution is painfully slow, and market movements are often missed, making it difficult to profit from trades. Customization is non-existent, and traders are stuck with a static, uninspiring layout.
As for trading tools, the selection is scarce and not very helpful. Charting tools are limited, indicators are unreliable, and technical analysis tools are outdated. To add insult to injury, the RXKCapital platform is web-based, but accessing it from your desktop or phone is a nightmare.
Account Types Available at RXK Capital
RXK Capital offers a range of account types, but don’t be fooled – this is just a smokescreen for their fraudulent activities. The account types and their minimum deposits are as follows:
- Standard Trading Account: 10,000 EUR
- Advanced Account: 25,000 EUR
- Platinum Account: 100,000 EUR
- Expert Account: 250,000 EUR
- VIP Account: 500,000 EUR
Interestingly, while the broker claims that the minimum deposit is 250$, it’s important to recognize that this is far from the truth.
Moreover, RXK Capital’s leverage ranges from 1:20 to 1:150, which is well beyond the legal limit of 1:30 established by legit regulatory bodies. Only offshore scam artists offer such leverage.
Additionally, while the broker boasts about starting spreads from as low as 0.2 pips, there is no guarantee that these rates are accurate or legitimate given the broker’s fraudulent nature. In fact, commissions can reach as high as 10%, which is particularly unfavorable and further highlights the broker’s shady practices.
Deposit and Withdrawal Methods
Reputable and law-abiding brokers are bound by strict regulations. So, they will never challenge your right to withdraw your funds. On the other hand, fraudsters make no promises when it comes to withdrawing your money.
They will always be prepared with excuses to thwart your withdrawal requests. Therefore, it’s imperative to scrutinize the fine print and proceed with caution when tempted by promises of quick riches.
In the case of RXK Capital, their reviews paint a bleak picture of the withdrawal process. Clients who attempted to withdraw their funds were required to provide a variety of images and copies for verification. However, the catch is that none of the documents seem to suffice. RXK Capital seems to be intentionally making the withdrawal process as difficult as possible.
Offshore Brokers’ Tactics for Stealing Your Money
Many offshore brokers swindle unsuspecting traders out of their hard-earned money using various tactics. One of their preferred strategies is to offer clients unrealistic promises of high returns and easy profits, only to disappear once they have made off with their money.
These fraudulent brokers often operate from remote locations, making it nearly impossible for victims to pursue legal action against them. They may also use misleading marketing tactics to lure in potential clients, including fake positive reviews or false promises of regulatory compliance. To avoid falling prey to these offshore brokers’ schemes, traders should always exercise caution.
Suggested Forex Brokers
If you’re looking for a broker that you can trust, find one that is reliable and secure. However, with so many options available, it can be overwhelming to sift through them all. To help you navigate this process, here’s a list of some of the most reputable brokers in the industry.
These brokers are known for their strong security measures, transparency, and solid track record. They have earned the trust of traders worldwide by providing reliable trading services. Let’s take a look at these brokers.
|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|
RXK Capital Summary
So, it may seem like signing up with RXK Capital is a breeze. However, don’t be fooled by their seemingly simple sign-up process. Despite their claims of security measures, the reality is far from satisfactory.
RXK Capital hides behind a fake address, which should be a major cause for concern. As we all know, brokers that resort to such deceitful tactics are likely up to no good. Another worrying aspect of RXK Capital is the lack of regulatory oversight, which is a critical warning sign. It’s always wise to stick with brokers that have proper licensing. Keep this in mind.
Is RXK Capital Regulated?
Note that RXK Capital is not a regulated broker, which should give you pause before giving them your money.
What Are The Funding Methods for RXK Capital?
RXK Capital’s reviews reveal a complex withdrawal process requiring various images and copies for verification.
What is the Minimum Deposit for RXK Capital?
The $250 initial deposit required by RXK Capital may not be suitable for investors who are just starting out.