Do you want to trade on Capital Whale FX? Before you do that, kindly read to know about this broker capital-whale.com.
This article promises to share helpful review to support clients/traders in making the right decision.
Capital Whale FX
Capital Whale FX is an offshore brokerage company with a lot of promises for traders. The broker claims to operate under the address — Grosvenor tower Georgiou Griva Digeni 125, Limassol, Cyprus 5th floor. More so, it claims regulation under the European Financial Security.
What is more, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents account packages such as BRONZE, SILVER, GOLD, PLATINUM, AND WHALE.
To clarify, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
Deposit and Withdrawal
Capital Whale Minimum Deposit:
Capital Whale minimum deposit is indicated at € 5000 based on account type. One of the indicators of a genuine FX broker is that Minimum deposit is made known to traders, and clients can start trading as low as $100 or less.
As for the payment methods, the broker allows deposits via crypto payments with Bitcoin along with credit/debit cards.
The usual payment options offered by offshore brokers is the use of crypto currencies. Regrettably, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Capital Whale FX claims no withdrawal fee on any withdrawal request. As for processing withdrawal, It can take anywhere from 7 to 10 business days.
Capital Whale Platform:
Capital Whale FX offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious. Many scammers have trading software to fool their victims that their money is being invested.
The FX broker specifies leverage can get up to 1:500. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
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
Why Capital-whale.com Is A Suspicious Broker
First of, Capital-whale.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities. On our search, We could not find this broker on the local Cyprus Securities and Exchange Commission (CySEC) database.
Another red flag we noticed in this broker is that there is no demo account for traders. If traders can’t test the broker on a free account, how then can we know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Capital Whale Licensing and Regulation
It is not far from believing that this broker 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
Bottom Line:
Capital Whale FX located at Capital-whale.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it 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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