There is nothing more time consuming and depressing than looking through endless pages of term & conditions when you’re looking for a broker. Unfortunately, those who have not had any experience with reviewing brokers always think that it is a very easy process. For example, they think that once you enter a broker’s website you will immediately be able to tell their fakeness. This Capital.com review is here to prove those people wrong, that first impressions do matter but don’t ultimately equal an accurate deduction. We are happy for those who took the time to read through this review, we sincerely hope that it will help you make a more structured and educated decision on whether or not you want to trade with this broker.
If you are about to actually get to the books and start reviewing a broker, as we’ve already mentioned first impressions are very important, however, don’t rely on them too much because they can be deceiving and ultimately ruin your experience throughout the review if you pay too much attention. Cases like this Capital.com scam have taught us to pay a very small portion of our attention to first impressions. Why are we talking so much about first impressions though? Well, because when we visited Capital.com’s website we were really impressed. The website was pretty much one of the best ones we’ve seen in terms of broker websites. Capital.com Forex broker has tapped in today’s reality of selling emotions, unfortunately, however, you won’t be buying anything. Many scammers have already learned that well-designed websites always attract a lot of people and show off as trustworthy and reliable. Therefore they invest a lot in web developers and designers. A small investment compared to how much they scam their customers from.
However, they still managed to miss one very important thing when they made the website. They feature titles and awards their platform has won but do not have any referring links with which we can get more information. Sadly Google is no help as well. Leaving us to deem that it’s all just a Capital.com fraud. We’ve seen many brokers feature titles and trophies and all of those achievements and still sometimes end up as scammers, so linking to their original source may not have even brought any redemption.
Regulation & licensing of Capital.com FX brokerage
Regulation and Licence information should be the easiest piece of information a potential customer should be able to access on a broker’s website. In our case, it was a complete nightmare scouring through each and every page trying to find it until we finally came upon it in the FAQ section. Another big minus for the broker for making vital information such a hassle to find. After looking through the FAQ section we were able to find out that Capital.com is regulated by CySEC.
Capital.com scam is still possible with the regulations
It’s not that hard to be licensed by a regulatory body nowadays. The easiest way to do it is to be based out of Cyprus, where the conditions are best. Some of the scam brokers we have reviewed have also been regulated, but that didn’t stop them from being scammers now did it? Same story here, when regulated scam brokers operate until they are finally found out. After which they simply get rebranded, get a new license and repeat the same process. Regulations sometimes aren’t enough to stop a scammer.
Capital.com Forex broker features and services
Capital.com seems to be more focused on the stock trading aspect of the market, which is not a minus as long as a broker offers some variation in trading assets. We Capital.com we do indeed get variation, quite a good amount actually. All in all the broker offers trading of 29 Cryptocurrencies, 68 Forex pairs, 10 Commodities, 17 Indices, and 1621 Company shares. Had this been the only information available about the broker we’d think that they’re legit
Capital.com withdrawal system
It was actually a pleasant surprise to find out that Capital.com does not feature any fees for withdrawing your winnings. With most brokers, the fee is sometime between 2-3% but here you get it for free. Also, we couldn’t find any information regarding the withdrawal times. Most of the brokers have a 1 working day withdrawal processing policy.
The Minimum Deposit
The broker offers quite a low volume of minimum deposits. 100 of a major currency to be exact. However what wasn’t clear about this was the fact that this was only for crypto transfers and credit cards. 250 of a major currency would be required if you were to opt for a bank transfer, making it quite weird, why this info wouldn’t be disclosed in the beginning. Please note that an inviting environment is most of the times a feature of scammers, who try to lure in beginners who have no knowledge of what they are investing in. Even though it may sound offensive Capital.com scam is most effective with beginners, because of their lack of experience and knowledge of the industry, so please be careful.
WebTrader platform that Capital.com is trying to promote seems to be in development, leaving the broker to be able to offer only their Mobile Trader. We thoroughly enjoy Mobile Trader but in this case, having it be the only option just alienates so much of the current customer base. The fact that Capital.com has also disregarded MT4, MT5 and cTrader brings us to a suspicion that they may be tampering with the algorithms on their platform.
After all this can Capital.com be trusted?
It actually took us quite a long time to come to a conclusion about this broker. It has some of the best features we’ve seen, but also has some of the shadiest policies as well. After much deliberation, we decided to not recommend Capital.com to anyone, because if a broker has something shady about it than it’s 99% a scam, and we don’t want you risking to find out. Hopefully, our review was in some ways helpful for you to find out more about Capital.com and find out more about scam broker identification principles as well. We wish you good luck in your future trading endeavors. Please also do your own research to formulate an opinion more suited to your needs.