Capital Street FX Review – Are they going to roar?
Capital Street FX has almost 20 years of experience in the field of Forex trading. This brokerage firm was founded in 2002. It has garnered much attention over the years. This is the very reason for our Capital Street FX Review. We will be discussing multiple aspects of the company.
Let’s talk about the qualifications of the site. The firm seems to have an FSC license. One of the jurisdictions this regulatory body watches over is Mauritius, which is an island country where this brokerage firm is based.
Leverage is an important trading tool for any type of trader. At Capital Street FX the maximum leverage ratio is 1:3500. As f0or the spreads, they are in a floating position and vary by asset type. The minimum amount for the spread on the site is 0.1 pips.
The list of available software on the site is quite extensive. One can use Webtrader for their trading activities. There’s even a Lite version of this software available on the site alongside the custom mobile trading application developed by the Capital Street FX Forex Broker team.
The minimum deposit on the site is $100. It’s noteworthy to mention the fact that other than the minimum requirement there is no limit on how much one can deposit on the site. As of now, there is a 200% tradable bonus available for the consumers. The site has promotional initiatives up its sleeve.
There is only four trading account available on the site in live and demo modes. These are the basic, classic, professional, and VIP account types.
As for the assets they offer we can conclude that they have the standard options like Forex Trading, Commodities, bonds, indices, and cryptocurrencies.
License and Security – Is Capital Street FX Legit?
To be regarded as legit, a forex brokerage should meet some requirements. First of all, the firm needs to be regulated by a reputable organization that has prior expertise in dealing with scam brokers. In this regard, we can say that Capital Street FX does have a license issued by the Financial services commission. The FSC number 0f the firm is 108039.
The site uses SSL encryption for the security of the trader’s transactions and data. According to their terms and policies, they don’t share this information with any third parties. Also, the site uses a two-factor authentication process for all of its user’s accounts.
Capital Street FX Review – Trading Features
In this section of the review, we will be discussing the features of the site in detail. We will emphasize the usability and functionality of each feature the site possesses. Important trading tools available on the site include Spreads and leverages. In regards to these tools, the site has quite the utility.
The spreads on the site are floating. They vary by trading instruments. Additionally different type of accounts has a maximum spread amount set for its users.
The biggest amount of starting spread on the site is for the Basic account for which spreads start from 2.5 pips. For the classic account, the spread starts from 2pips, For the professional account, it starts from 1.5 and all the VIP users have the privilege to start it from 0.1 pips.
The maximum amount of leverage ratio on the Capital StreetFX Forex Broker site is 1:10000. However, not all of the users have access to that leverage ratio size. The ultimate ratio of the leverage is only available for the VIP account users on the site. Leverages for other account types vary by their hierarchical nature.
- The Basic accounts have the maximum leverage ratio of 1:2500
- The classic accounts have the maximum leverage ratio of 1:3000
- The professional accounts have the maximum leverage ratio of 1:3500
- VIP users have the maximum leverage ratio is unlimited and can go up to 10000
There are four distinctive account types on the website of the Capital Street FX brokerage firm. These are the following accounts with the following titles like Basic, Classic, Professional, and VIP. These four accounts drastically vary from one another. In this section, we will be focusing on giving extensive information on all four Capital StreetFX FXBroker account types. In the process, we will compare them and conclude our thoughts about them.
The Basic account has the least amount of benefits. the margin call amount is 0.5 and the stop out level is 0.1. One doesn’t have the privilege of a dedicated account manager or the availability of telephone trading. also no flexible bonus offerings for basic accounts. Much like its name, one only gets the bare minimum.
The classic account users don’t have access to the privileges like an account manager, telephone trading, or flexible bonus offers. Even the margin call is the same as the basic accounts. The stop-out level is 0.2.
The Professional account has the same margin call and stop-out level as the classical one. They are identical in many ways. The distinction is that professional users can reap the benefits of a dedicated account manager, Flexible bonus offers, and telephone trading.
The VIP account is the only type of account that has any good features and perks that actually differ from other account types.
Usually, the minimum deposit amount on any forex brokerage site indicates the accessibility level of its clientele. Regarding the minimum requirement for the deposit amount, we can say that the information we found on the site is rather allusive.
The minimum deposit amount on the site is $100, but this is for the basic account users. For the classical account users, the minimum deposit amount is $200, professional users need to make the minimum deposit of $1000 and The VIP members require to make at least the minimum donation of $10000.
There are countless promotional initiatives available on the site. To be more specific there are multiple types of bonuses. The list includes a cashback rebate bonus, three different tradable Capital StreetFX bonus offers, and a risk-free trade bonus.
Unfortunately, the information regarding these promotions is very vague. It’s not as clear as what the mentioned promotional offers give the consumer of the site. Even the names of the industry-standard bonuses are changed to fit a certain mold, they are compressed into a single keyword.
The Cashback Rebate initiative is a great offer as one will receive it after any outcome of the trade. Although Cashback and rebate bonuses are similar by nature. In the industry, people use these terms separately and they mean different things. A rebate bonus is not the same thing as a Cashback.
The three distinctive tradable bonuses which vary in percentage seem to work like a depositing bonus. However, on the site, they are given a new name. There’s a shortage of information about these three bonuses as well. Nothing is clearly stated about any of these promotions. Capital StreetFX fraud could be a possibility.
The initial 100% deposit bonus is very common among other brokerage firms. At Capital Street FX it takes the form of a Risk-free trade bonus. much like previously discussed bonuses this one is also described vaguely and doesn’t make much sense.
Capital Street FX – Final Verdict
All in all, The mentioned features and promotional offers of the site are sub-par and don’t really correlate with the industry-standard compared to other brokers. After conducting thorough research on the topics concerning the intricacies of the Capital Street FX. We would not recommend doing business with this forex brokerage because of their duplicity.
Aesthetically speaking we could not find any faults regarding the interface as it functioned quite smoothly. However, we do have complaints about the written content of the Capital StreetFX Forex Broker site. Which is very vague and doesn’t give much specific intel about the distinguishing features of the firm to anyone reading the various pages on the site. We find this lack of vital information disturbing.
Additionally, there are only web-based trading platforms available on the site. WebTrader is a reputable and powerful software however its counterpart MetaTrader4 and MetaTrader5 seem to be absent on the list of available trading platforms for the consumers of the website. The site only offers ECN accounts which means that the firm generates its revenue from commissions and fees. They can also benefit from the applied spreads in the trading platforms.
Overall, we don’t recommend our readers to explore the site as it is not worth the valuable time and energy. Even though the Capital Street FX brokerage firm seems good on paper, we can’t see through the many faults it possesses, which need the attention of the owner and the operator of the site, which is Capital Street Intermarkets limited. This company needs to be more clear about its products and services. Any form of vague suggestions can be harmful to the consumer of the site.