Googling the internet for online financial trading services can bring you to the Trade Capitol broker. At first, you might be interested in its offering, however, don’t buy it; better read this Trade Capitol review instead.
In our Trade Capitol detailed review, you will find out the reasons why investing with this phony broker is not recommended. Before moving forward, just a few words about us, we are a team of experts assessing and exposing bogus brokerage firms scamming traders from: United States, United Kingdom.
So, let’s start with a quick overview of Trade Capitol. It is registered in Saint Vincent and the Grenadines under the name of Eunoia Group and has no license or regulations. Its services are based on a pack of lies. Overall, it bears all the hallmarks of a broker scam. Thus, please continue reading.
What is more, we strongly advise you not to invest in Motion Markets, GP Finance and DotBig fraudulent brokers.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | tradecapitol.co |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Eunoia Group LLC |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2022 |
| Supported Platforms: | Web Trader |
| Minimum Deposit: | 250 USD |
| Cryptocurrencies: | No |
| Types of Assets: | Forex, stocks, commodities, índices |
| Maximum Leverage: | 1:600 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is Trade Capitol a Regulated Forex Broker?
As introduced, Trade Capitol operates from an offshore hideout, SVG. Why do we put it that way? Well, SVG is considered a safe haven for offshore-based brokers involved in fraudulent trading activities since this country doesn’t regulate its forex market. Therefore, any unlicensed SVG-based broker is a potential fraudster.
The same applies to Trade Capitol since after checking the registers of the most respectful financial market regulators (e.g., FCA, ASIC, and BaFin) and broader, we couldn’t find any information on this shady company. That means that no one controls its activities and that it doesn’t abide by any legislation. Simply put, no safety for your funds.
Why Is Trading On a Licensed Broker’s Platform Preferable?
While on the subject of funds’ safety, it is ensured by regulations enforced and monitored by respective supervisory financial authorities. Authorized brokers can be trusted with the money since they comply with strict rules, implement risk management measures (negative balance protection and segregated funds), keep your money in premium banks, and are insured.
For example, traders of FCA-licensed brokerage firms are covered against brokers’ insolvency with an 85,000 GBP compensation scheme. None of this you can have with unauthorized companies like Trade Capitol.
So Is Trade Capitol a Scam?
Trade Capitol is a pure scam; although it has not yet been debunked, it definitely has all traits of a classic fraudster that will take any opportunity to con you out of money. So, be careful!
Does Trade Capitol Offer Safe Trading Software?
Safety and unlicensed brokerage firms don’t go together. That implies that you can’t trade safely on the Trade Capitol web trader. Regardless this fake broker professes that its trading software has advanced features, but it is inappropriate for successful trading.
For getting the best out of trading programs, you need to choose MetaTrader 4, MetaTrader 5, cTrader, and Sirix. These leading-edge trading platforms are exclusive to legitimate brokers and come with plenty of sophisticated tools such as stop loss, unlimited pending orders, EAs, and copy trading.
Compatibility With Mobile Devices
Even though a web trader can be accessible from different devices, it is still a poor program. As we mentioned powerful platforms above, each of them can be used on both desktops and cell phones, either as a browser-based or downloadable version.
In addition, Trade Capitol doesn’t have a sole mobile trading app. On the contrary, leading brokers offer proprietary mobile applications available on Google Play Store and Apple Store. This enables you to trade with peace of mind anywhere, anytime.
Trade Capitol Accounts Overview
When it comes to the type of trade accounts at Trade Capitol, there are several options such as follows.
- Beginner: 250 USD minimum deposit.
- Advanced: 2,500 USD minimum deposit.
- Professional: 25,000 USD minimum deposit.
Each of the accounts provides access to all tradable assets, including the following ones.
- Forex: EUR/USD, USD/JPY, GBP/USD.
- Stocks: Apple, Microsoft, Google.
- Indices: CAC40, DAX40, NASDAQ100.
- Commodities: metals (silver, gold, platinum), energies (crude oil, natural gas, gasoline), agricultural products (coffee, cocoa, cotton), and livestock (lean hogs, live cattle, feeder cattle).
Also, remember the names of the MorganFinance, Investirex and CFDtrades trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Does The Broker Offer A Demo Version?
Apropos of demo accounts, they rarely can be found with fraudulent brokers. A demo account is used for practicing trading, testing trading platforms and conditions, and developing strategies. Since it is free, scammers like Trade Capitol don’t offer it.
Moreover, access to a demo account can reveal how bad the trading environment of Trade Capitol really is; that is also one of the reasons why this option is unavailable at Trade Capitol.
Too High Leverage, Minimum Deposit, and Fees
Another characteristic of fraudsters is providing too high leverage. In the same manner, Trade Capital offers a leverage ratio that is much higher than what is allowed, i.e., 1:600 compared to 1:30 (UK and EU) and 1:50 (US).
Likewise, its minimum required deposit of 250 USD is several times higher than what legit brokers demand (e.g., less than 10 USD). In addition, this bogus brokerage firm guarantees that it doesn’t change deposits.
What Bonuses Does Trade Capitol Broker Offer?
Proceeding on this track, bonuses are also common in online trading scams. They are employed to entice people into trading but due to being used fraudulently, they are banned in many jurisdictions.
However, since Trade Capitol is an illicit broker that doesn’t adhere to any law, it provides bonuses. Its welcome bonus ranges from 20% to 30%, depending on the account. Remember that bonuses come with strings attached and can’t be withdrawn.
What Do Traders Think Of Trade Capitol?
Checking Trade Capitol reviews on the web can just mislead you since the vast majority of them are fabricated to give a positive perception of this financial swindler. Counterfeiting customer reviews is one of the dirty tricks employed by scam brokers to build people’s trust.
Therefore, don’t rely much on these public reviews. Better do your due diligence, check professional reviews like this one, and investigate if there are any warnings against a broker.
What Is Known About Trade Capitol’s Trading Conditions?
Concerning Trade Capitol trading conditions, they are as unacceptable as this broker. For example, this illegal broker manipulates spreads to make trading more profitable, e.g., starting at 0.1 pips.
Regarding means of payment, a trader can use credit/debit cards and wire transfers for deposits and withdrawals. These are secure and convenient payment methods, hence, we are dubious that they are actually accepted here. It is because they enable traders to return the misappropriated money. But more on that in the following heading.
As regards payoffs and processing time, there is no info about that. Anyhow, it is unlikely that withdrawals are possible at Trade Capitol.
Scammed by Trade Capitol Broker? – Let Us Hear Your Story
Following the last argument, if you have deposited money to Trade Capitol, then you will be defrauded before you can say Jack Robinson. But don’t worry since getting your money back is possible. Firstly, don’t hesitate to inform the relevant authorities. Also, don’t forget to share your negative experience with others on the internet.
But What Is A Chargeback?
Speaking of retrieving your money, a chargeback enables it. In light of this, cashback is doable with credit cards, Visa and Master cards allow it within 540 days. Bank transfers can be canceled unless you haven’t already confirmed a transaction. Crypto payments are the most difficult to reverse and, as such, are frequently used by con artists.
If you need assistance with a chargeback, our chargeback specialists can help you with refunds no matter the payment method. Contact us today.