Trade Capitol Review
Searching for online financial trading services on the internet might lead you to the Trade Capitol broker. You might be interested in its offers at first, but don’t buy it; instead, read our Trade Capitol review.
Our Trade Capitol full review will explain why investing with this bogus broker is not recommended. Before we proceed, a few words about us: we are a team of professionals that examine and expose phony brokerage businesses that defraud traders from the United States and the United Kingdom.
So, let’s begin with a brief rundown of Trade Capitol. It is registered in Saint Vincent and the Grenadines as Eunoia Group and does not have a license or rules. Its services are founded on a slew of falsehoods.
- 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
Trade Capitol Regulation
Trade Capitol, as previously said, operates from an offshore hideaway, SVG. Why do we phrase it this way? Because SVG does not control its forex market, it is regarded a safe haven for offshore-based brokers engaging in fraudulent trading operations. As a result, every unregistered SVG-based broker is a potential scammer.
The same is true for Trade Capitol, since we couldn’t uncover any information on this nefarious firm after searching the registrations of the most respected financial market regulators (e.g., FCA, ASIC, and BaFin) and others. That is, no one oversees its operations and it is not subject to any regulation. Simply put, there is no protection for your money.
When it comes to the safety of funds, it is assured by regulations that are implemented and monitored by different regulatory financial agencies. Authorized brokers may be trusted with your money because they follow tight standards, use risk management tools (such as negative balance protection and segregated funds), put it in premium banks, and are insured.
Traders of FCA-licensed brokerage companies, for example, are protected against broker insolvency by an 85,000 GBP compensation plan. None of this is possible with unlicensed firms such as Trade Capitol.
Trade Capitol is a complete hoax; although it has not yet been exposed, it possesses all of the characteristics of a typical con artist who will use every chance to defraud you. So be cautious!
Trading Software
Unlicensed brokerage companies and safety don’t coexist. That means you can’t trade on the Trade Capitol web trader with confidence. Regardless, this bogus broker claims to have superior trading software, but it is unsuitable for profitable trading.
You should use MetaTrader 4, MetaTrader 5, cTrader, or Sirix to get the most out of trading programs. These cutting-edge trading systems are only available to licensed brokers and include a plethora of advanced features such as stop loss, unlimited pending orders, EAs, and copy trading.
Compatibility With Mobile Devices
Even if a web trader may be accessed from a variety of devices, it is still a subpar tool. As previously said, powerful platforms may be utilized on both desktops and mobile devices, either as a browser-based or downloaded version.
Furthermore, Trade Capitol does not have a single mobile trading app. On the contrary, top brokers have exclusive mobile applications that are available on Google Play and the Apple App Store. This allows you to trade with confidence anywhere, at any time.
Trade Capitol Accounts
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).
Demo Version
In terms of demo accounts, they are almost never encountered with fake brokers. A demo account is used for trading practice, testing trading platforms and circumstances, and creating trading techniques. Scammers, such as Trade Capitol, do not provide it since it is free.
Furthermore, access to a demo account might indicate how awful Trade Capitol’s trading environment truly is; this is also one of the reasons why this option is not offered at Trade Capitol.
High Leverage, Minimum Deposit, and Fees
Another trait shared by scammers is the provision of excessive leverage. Similarly, Trade Capital provides a leverage ratio that is substantially greater than what is permitted, namely 1:600 vs 1:30 (UK and EU) and 1:50 (US).
Similarly, its minimum required deposit of $250 USD is far greater than what legitimate brokers ask (e.g., less than $10 USD). Furthermore, this phony brokerage business ensures that it will not alter deposits.
Bonuses
Continuing on this theme, bonuses are popular in internet trading frauds. They are used to attract individuals to trade, however they are illegal in many jurisdictions since they are used fraudulently.
However, because Trade Capitol is an illegal broker who does not follow any laws, it offers bonuses. Depending on the account, the welcome bonus ranges from 20% to 30%. Remember that bonuses have conditions and cannot be withdrawn.
What Do Traders Think Of Trade Capitol?
Checking Trade Capitol reviews on the internet will just lead you astray because the great majority of them are created to portray this financial swindler in a favorable light. One of the filthy techniques used by scam brokers to gain people’s confidence is to fake client reviews.
As a result, don’t put too much stock in these public assessments. Do your homework, read expert reviews like this one, and see if there are any warnings against a broker.
Trade Capitol’s Trading Conditions
The trading conditions at Trade Capitol are just as bad as this broker. This unlawful broker, for example, manipulates spreads to make trading more profitable, starting at 0.1 pips.
In terms of payment, a trader can make deposits and withdrawals via credit/debit cards and wire transfers. We are skeptical that these safe and convenient payment options are genuinely accepted here. It is because they allow dealers to recover plundered funds. But more on that in the next section.
There is no information available concerning payoffs or processing times. In any case, withdrawals are unlikely to be available at Trade Capitol.
