Why Capitalfxm.com broker is a scam! Let’s read Capital FXM reviews to know about this forex broker and why you should not trade here.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Capital FXM
Capital FXM otherwise known as Capitalfxm.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about Capitalfxm.com Regulation
First of, Capital FXM claims its registered address to be in London, the UK and provides a phone number and a customer support email. The broker further claimed regulation and license by Financial Conduct Authority (FCA).
In order to clear the suspicions, we decided to check the register of the Financial Conduct Authority (FCA) of the UK. As a matter of fact, there is an official FCA warning issued by the regulator, making this broker a definite scam and a risk to all.
Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Additionally, Capital FXM operates on a scam scheme with no legal documents available for clients.
As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Does Capital FXM Have Account Types?
Capital FXM deposit is specified as $1,000 based on its trading account. According to the website descriptions, the broker offers a leverage capped 1:400 and a spread of 0.8pips.
This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
The broker claims to accept deposit through wire transfer and credit/debit cards. Following this, deposit via those payment solutions are fairly easy to get a chargeback on within 540 days of the transaction. But, Capital FXM is an unlicensed brokerage firm with no supervision.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Capital FXM Provides What Trading Software?
Capital FXM offers a simple trading software with basic functionality. Although, the broker claims to offer industry trading platforms MT4 and MT5. But after registering an account, we got access to a pretty basic web trading platform that is not MetaTrader.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Capital FXM Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Capitalfxm.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Concluding Thoughts:
Capital FXM located at Capitalfxm.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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