Finance CapitalFX Review: Financecapitalfx.com Unfavorable Firm

Finance Capitalfx is an unregulated broker from an offshore location popular with scammers. Such companies have many problems, including a lack of control, a harmful set of legal documents, and a lack of transparency regarding their whereabouts.

The problems with the brokers don’t stop there. A discerning eye can always pick more warning signs indicating a broker is crooked. The alerts include the absence of a trading platform that is competitive.   

Did you know that in every ten brokers, about 9 are scammers? Such statistics should be a wake-up call for investors to be more diligent. Diligence calls for rigorous scrutiny and fact-checking to ascertain whether a broker fulfills the minimum conditions to offer services. Moreover, you can tell apart imposters from genuine forex brokers.  

Finance Capitalfx claims to facilitate investors in trading a wide range of assets, including forex, cryptocurrencies, indices, metals, stocks, and commodities. But before you take their word for it, pause and ask yourself if the broker provides the investment solutions you need. We give you this challenge because we have reservations about this broker. We have detected issues that don’t add up and highly doubt the broker offers what it advertises. If you’re interested in learning more, please read our comprehensive assessment of this broker that we put together:

Financecapitalfx.com Review

Finance Capitalfx’sCapitalfx’s address is Office 504, 79 Athinon Street 3040, Limassol, Cyprus. Investors can make inquiries at support@financecapitalfx.com. Since the broker does not provide a telephone contact, it would be difficult to access urgent assistance.  

Finance Capitalfx pitches its marketing campaign by purporting to facilitate risk-diversification trading. Investors on the platform can supposedly enjoy cutting-edge technology combined with personalized assistance and account management. Moreover, traders can allegedly access complementary tools for trading decisions, such as the economic calendar, market updates, trading sentiment, advanced interactive charts, and trading indicators.

The broker also avails performance statistics meant to dupe investors that it has an impeccable track record. For instance, the broker claims to have over 750000 traders and a global footprint in 50 countries. However, these statistics are inaccurate given that the broker is relatively new in the market. According to whois, the broker is only 264 days. It is improbable for a broker to accomplish such success in such a short span. You should not base your decision on such misleading statistics.

Finance Capitalfx Investment Plan

Finance Capitalfx offers three investment plans. The first plan, standard, requires at least €250 to open. Next, the premium plan has a funding threshold of €2500. Investors aboard this plan access a commission of €per lot. Lastly, the Luxury plan requires a minimum deposit of €25000. Luxury investors earn a commission of €8.7 per lot. All the packages allegedly have zero balance protection.

The broker has high trading volumes. A €250($247) funding threshold is too high for a standard account. Plenty of legit brokers with micro accounts go for as low as $10. In contrast, Finance Capitalfx’s admission fee no doubt indicates that its only goal is to keep your money, which is too typical for such scammers.

Deposit & Withdrawal Policy

The company has wire transfers, e-Wallets, and credit cards as its acceptable deposit options. The flexible deposit options could redeem the broker if valid, except that we cannot ascertain whether they accept. Again, for a broker as controversial as this, it would not be wise to trust anything it says.

That said, it is your responsibility to confirm the validity of deposit channels. This includes ascertaining whether the channel allows reversing of transactions and revealing the recipient’s identity. If that is not possible, then that broker is suspicious. Since the broker does not have a demo account, depositing a negligible amount of money is the only way to verify. However, you do not need to go to such lengths as you already have enough caveats against dealing with the broker.

Trading Software

MT5 and MT4 are the most popular and recommended platforms. The software has many advantages over its rivals, including various technical analysis capabilities and more than 21 timeframes. Moreover, the automatic trading that MT5 offers gives it a competitive edge. The infrastructure enables traders to utilize trading bots.

Although the trading interface Finance Capitalfx provides has essential TA tools and a copy trading interface, this web trader is relatively unimpressive. Also, copy trading services are not very trustworthy when dealing with offshore brokers. The brokers frequently trick their clients into thinking the professional traders they mimic are more successful than they are.

Finance Capitalfx Trading Conditions

Finance Capitalfx offers welcome, referral and funds transfer bonuses. Forex regulators take issue with bonus issuance due to the extortionate conditions tied to them. This is evident in the broker’s trading condition. For instance, Finance Capitalfx states that brokers cannot withdraw bonuses and any gains made utilizing bonuses. This is ridiculous! How are you expected to distinguish between the revenue from the promotion and the income from your resources? In reality, there is no way to make this distinction. The company is just using this phrase to prevent earnings from being withdrawn, arguing that all such bonuses are included in the non-deposited Funds.

 Finance Capitalfx gives leverage of 1:200. Trading with such high leverage can easily result in significant losses for the retail client. Still, since the offshore brokers don’t care, they give it anyway. The broker’s spreads start from 0.2 pips, which is in line with most firms in the industry. However, since this seems to be the only thing it got right, you are safer avoiding the broker.

Regulation Status

Despite claiming to be in Cyprus, the broker states that its T&Cs are subject to Estonia and the Grenadines. We checked with CySEC, the Cyprus regulatory agency, to clear any doubts. Still, the broker’s credentials were nonexistent in the register. Since there is no such country, we can assume that it refers to either St.Vincent and the Grenadines or Estonia. If the broker is in Estonia, it should not issue the alleged bonuses due to EU forex restrictions. But since it does, we rule out the possibility of being in Estonia.

 If the broker is in SVG, your problems only worsen. The country has a reputation for being a sanctuary for rogue brokers. This country does not regulate forex brokers and places legal barriers against international prosecution of brokers based there. This leaves investors in a precarious position should they fall victim to the fraudulent broker.

Finance Capitalfx Customer Reviews

Reviews for FinanceCapitalFX are generally unfavorable. Customers’ complaints include the lousy trading platform and the inability to withdraw money. Most customers also claim that the business encouraged them to download TeamViewer or AnyDesk. Sadly this helped the broker steal money from their online banking by using such programs to access any computer.

In as much as we caution against entirely relying on customers’ reviews, these reviews are too implicating to ignore. Besides stealing your deposit, the broker also steals your online banking balance. This is a serious disclaimer against dealing with the broker.

Our Take

Considering the issues we have raised, Finance Capitalfx is no doubt a malicious broker. The broker’s whereabouts are unclear. Moreover, the suggestion that it is in SVG further discredits the broker as a rogue since the country is a haven for shady brokers. Also, the broker has hard-to-meet trading conditions that limit investors from accessing funds. Lastly, the broker has several negative reviews implying it is not a genuine forex broker.

Since it is better safe than sorry, you should strike this broker off your list of potential traders. Look for regulated brokers who have reasonable conditions. Importantly, go for reputable brokers who are like-minded concerning investment.

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