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5Capital Review - is it scam or safe?

5Capital review - Is 5capital.com scam or good forex broker?

RATING: 1 / 2 REVIEWS 5Capital
5Capital is an offshore broker. Your money is not safe.

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5Capital is a unregulated broker, based in Bulgaria, with a focus on the crypto currency market. The broker is a market maker and they openly admit in their Client Agreement, that this might be a cause for a conflict of interest. So if you are considering investing with them better read this review first.

 

Trading account  Min. deposit Max. leverage Spread

Standard Account

n/a 1:2 n/a

 

5Capital Advantages:

 

We always do our best to come up with any possible benefit a broker might offer to their clients, and start our reviews with that. Unfortunately with 5Capital there are simply no positive sides. 

 

5Capital Disadvantages:

 

Nor regulated

 

5Capital is owned by 21 Wolfs LTD, but is operated by Grow Track Media LTD. Both companies are based in Bulgaria, but unfortunately they are not licensed by the local Financial Supervision Commission (FSC) or by any other financial regulator from another EU country like the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC) – a legal requirement for any broker wants to target clients in the European Union.

 

Be aware that depositing funds with unregulated brokers like 5Capital is extremely risky, because far too often such brokers simply happen to be involved in scam. 

 

Properly regulated brokers on the other hand are safe, because of the strict regulatory regime they are subjected to. Regulators like the FCA in the UK and CySEC in Cyprus for example require all supervised brokers to file regular reports, to allow external audits, to maintain at all times at least 730 000 EUR as a minimum operational capital, to keep their clients funds in a segregated, trust account and even to participate in client compensation schemes, basically insuring all trading accounts. 

 

For example with a FCA broker your insurance will cover the first 85 000 GBP in your account, which will be payed back to you even if your broker files for bankruptcy. So here you may check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

Unspecified fees and charges

 

In their Terms and Conditions 5Capital say they will charge you a commission on every trade. The commission, however is not specified in the agreement and that surely is not a usual practice. See for yourself:

 

 

And besides, if you have deposited your funds with a bank wire transfer, unless you trade a certain amount you will be charged with 4,5% of your deposit or even more.

 

Market maker

 

And that is another worrisome detail. 5Capital admits that it is acting as a market maker – a fact that in certain cases might result in a conflict of interest. See for your self:

 

 

Bear in mind that a market makers makes money whenever you lose and vice versa. So it is more than unethical if a broker, which acts as a market maker, offers to manage your account or even just to give trading advises. 

 

MetaTrader4 not available

 

5Capital offers a web based trading platform not comparable to platforms like the MetaTrader4, which has become a industry standard. 

 

 

MT4 is a highly reliable trading platform, featuring numerous modifiable market indicators and trading bots, called Expert Advisros, with which you can effortlessly run automated trading sessions. On top of that MT4 has an excellent pack of advanced charting tools as well, so here you may check our list of brokers, supporting the platform:

 

>>MT4 Brokers<<

 

A limited number of trading instruments

 

Although in their presentation 5Capital say to be offering CFDs on indices, stocks and commodities, along their selection of crypto coins, when we opened their web based trading platform the only instruments available were CFDs on 8 crypto pairs with several major coins - Bitcoin, Dash, Ethereum, Ethereum Classic, Litecoin, Ripple, EOS and Augur. So if you really want to trade crypto assets, here we may suggest that you try one of our regulated brokers, offering bitcoin CFDs: 

 

>>Bitcoin Forex Brokers<<

 

Few payment methods

 

Although 5Capital has the logos of a number of popular e-wallets on its web page, among which NetellerSkrill Sofort, QIWI Wallet, CaroPay and WebMoney, as it turned out, when we registered a trading account, the only payment methods available were cards like VISA and MasterCard, bank wire and bitcoins. And if paying with bitcoins looks like a good option to you, here you may also check our list of brokers accepting bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

As we already established, 5Capital is a unregulated broker with rather limited credibility. And as usual in such cases we will repeat our general advice to trade only with brokers, licensed and authorized by reputable financial institutions such as the FCA in the UK, CySEC in Cyprus or way not the Australian Securities and Investments Commission (ASIC).

Latest news about 5Capital
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Traders` reviews for 5Capital

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Kundenbetrug im grossen still

Wie sie geschrieben haben trifft alles zu ,wichtig wäre die Leute zu warnen ,bevor es noch mehr trifft

Si können mich gerne dazu anrufen haben alle Bilder und Unterlagen von den Herr Baker und Schwarz


Translated by Google:

As they wrote, everything is true, it would be important to warn people before it hits even more

You are welcome to call me all the pictures and documents of Mr. Baker and Black

hartmut frieser 07/10/2019

5Capital - Kundenbetrug im grossen stil

Sehr geehrte Damen und Herren
Diese Broker haben nur ein Ziel Kunden im Großen Still zu betrüger, April Geld eingezahlt 4 stellig
alles auf Gewinn gebracht danach sollte man mehr Geld einzahlen ,wo man nein gesagt hat wurde das Kapital einer halb von 2 Wochen in minus gefahren sodass nur noch 57 Dollar übrig sind diesen bekommt man auch nicht ausgezahlt.

Diese Broker gehören sofort vom Markt, habe alles an Bilder gespeichert sollten Sie Interesse haben kann per mail alles zur Verfügung gestellt werden.

Wichtig sofort die Broker sperren damit nicht weiter Kunden reinfallen


Translated by Google:

Customer fraud in a big way
Dear Ladies and Gentlemen
These brokers have only one goal to cheat customers in the Big Still, April paid in money 4 digits all brought to profit after that you should deposit more money where you said no the capital was driven halfway from 2 weeks in minus so only 57 dollars left are left over you do not get paid.

These brokers are immediately off the market, have everything stored on images should you be interested by mail everything can be made available.

Immediately lock the brokers so that customers do not fall into the trap

Hartmut 06/19/2019
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