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RXK Capital Broker Review
Like with any industry, the currency exchange markets are teeming with shady organizations looking to profit from the increased interest in online trading. As a result, you must consider this while choosing a forex supplier. To assist you, we created this RXKCapital review, which may serve as a reference for what traits a broker should not have.
In summary, RXKCapital is an anonymous broker that operates without licenses or rules, deceives traders with untested assertions, and provides unprofessional services based on manipulated conditions. It has all the signs of a dishonest enterprise that will take advantage of anyone who invests here. As a result, we urge you to avoid this and similar con artists.
Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: rxkcapital.com
Blacklisted as a Scam by: N/A
Owned by: N/A
Headquarters Country: N/A
Foundation year: 2022
Supported Platforms: Web Trader
Minimum Deposit: 10,000 EUR
Cryptocurrencies: Yes, Bitcoin, Ripple, Tether
Types of Assets: Forex, crypto, shares, metals
Maximum Leverage: 1:150
Free Demo Account: No
Accepts US clients: Yes
Is RXKCapital a safe Broker?
RXKCapital does not disclose its area of registration or headquarters address, making it very hard to locate and verify its jurisdictions. This is an obvious indication of deception. Scam brokers do this to conceal the fact that their operations are unregistered and unregulated.
Notwithstanding this, the broker claims to be in the process of becoming a regulated brokerage service. It is not an option since it will be unable to operate until it is approved. As a result, we may infer that RXKCapital is not permitted to provide online financial trading services anywhere in the world. It means there is no third party overseeing it, which means your assets are at grave danger of being lost to this dodgy brokerage firm.
Temporary Lack of License
As previously stated, RXKCapital tries to deceive consumers by saying that company is temporarily operating unauthorized. It is allegedly going through the licensing process and should be authorized soon. Even if this is the case, it is still illegal to provide services unless you are a fully licensed broker. In any case, we are certain that this is not real and is a lie to defend its lack of trading credentials.
Available Trade Software
RXKCapital’s trading software is an online trader with some standard features that may appeal to beginners. Even though the RXK trading platform is decent, you are still in danger due to the fraudulent character of this broker. Despite the fact that this broker promises that its platform provides stop loss, rapid execution, simplicity of access, different charts, and unlimited pending orders, it is yet another pack of lies. These sophisticated capabilities, as well as many others (for example, expert advisers and copy trading), need robust and dependable software like as MetaTrader 4, MetaTrader 5, cTrader, and Sirix.
Trading On Mobile Or Desktop
If you like trading on the go, mobile trading applications are for you. Top forex brokers have specialized mobile trading apps that include a comprehensive range of capabilities. Similarly, the aforementioned trading platforms (MT4, MT5, etc.) are available on mobile devices, tablets, and desktop computers. Furthermore, they give the same quality and functionality across all devices. The RXK online trader pales in comparison to these cutting-edge systems.
RXKCapital Account Types
Concerning RXKCapital trading accounts, there are the following types.
- Standard: 10,000 EUR minimum deposit, leverage 1:20, 25% margin loan
- Advanced: 20,000 EUR minimum deposit, leverage 1:40, 40% margin loan
- Platinum: 100,000 EUR minimum deposit, leverage 1:60, 60% margin loan
- Expert: 250,000 EUR minimum deposit, leverage 1:100, 100% margin loan
- VIP: 500,000 EUR minimum deposit, leverage 1:150, 200% margin loan
As you can see, RXKCapital’s minimum starting balance is 10,000 EUR, which is a significant and avoidable risk. For example, you may begin trading with reputable brokerage services for as little as $10 USD. Furthermore, this bogus broker guarantees access to over a thousand trading goods in the marketplaces listed below.
- Forex: USD/CAD, AUD/NZD, GBP/EUR
- Crypto: Bitcoin, Dogecoin, Litecoin
- Metals: gold, aluminum, silver
- Commodities: natural gas, crude oil, rice.
Demo Account
In terms of a demo account, this choice is ideal for novices since it allows them to practice trading without incurring any risks or charges. Scammers, on the other hand, are not interested in giving anything away for free. Hence, until they can profit from it, they would not use it. As a result, some con artists, such as this one, do not provide demo accounts. Keep in mind that other scammers provide a sample account version to entice you to trade. Overall, if you want to practice trading and test exchange rates, trading tactics, and platforms, you should do so with regulated organizations.
Areas Of RXKCapital Scam
In terms of regions of operation, this broker continues to provide services unlawfully. According to RXKCapital reports from victims, this financial swindler mostly targets traders from Germany, Sweden, and the United Kingdom.
If you are a trader in any of these nations, you should avoid this shady broker like the plague. Similarly, pick forex suppliers who are licensed by the German BaFin, the Swedish FI, and the British FCA.
Bonuses
Promotions, on the other hand, are illegal in many jurisdictions owing to mismanagement. In truth, many con artists offer large sums of money to get individuals to invest. Keep in mind that awards are always subject to stringent requirements. The same is true for the RXKCapital broker. It offers trading bonuses that can only be applied to your account if you accomplish 30 times the bonus’s trading volume. This is difficult even for experienced traders. Also, bonuses cannot be withdrawn.
Deposits and Withdrawals
According to reports, you may move cash to and from RXKCapital accounts using credit/debit cards, wire transfers, and electronic wallets. In actuality, you can only make deposits via cryptocurrency wallets. This fundraising strategy is risky and is commonly utilized by con artists. With regard to withdrawals, you should be informed that, despite the fact that this bogus broker advertises super-fast withdrawals, there are no money withdrawal guarantees with broker scams. But, as mentioned later in the post, you can file for a chargeback.
Trading Conditions
With RXKCapital’s trading conditions, like with other unethical brokers, terms of exchange are invented to look advantageous but are actually unfavorable and in violation of current industry standards. Several markets, for example, have prohibited leverage due to its high risk (1:30 in the UK and 1:50 in the US). Because RXKCapital does not follow any regulations, its leverage ratio can reach 1:500. Margin loans range from 25% to 200%, which should entice you. Another ruse is interest-free credit, which may range from 2,500 to 250,000 EUR depending on the account type. In general, this counterfeit broker will take advantage of your trading interest to swindle you.
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