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Capital 245 Group Review - is it scam or safe?

Capital 245 Group review - Is capital245.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Capital 245 Group
Capital 245 Group is an offshore broker. Your money is not safe.

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Capital 245 Group is a forex and CFD broker, offering a wide variety of currency pairs, crypto CFDs and other trading instruments with a choice of six account types on a web based trading platform. Unfortunately we have some serious issues about the regulatory status of the broker, so if you are considering investing with it, be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Mini Account $500 1:200 18,6 pips, floating
Bronze Account $5000 1:200 n/a
Silver Account $10 000 1:200 n/a
Gold Account $25 000 1:200 n/a
VIP Account $100 000 1:200 n/a
Premium Account $250 000 1:200  

 

Capital 245 Group Advantages:

 

Great variety of trading instruments

 

With a choice of over 50 forex pairs, and CFDs on a number of ETFs, bonds and stocks, 23 indices and  various commodities like  cocoa, coffee, cotton, orange juice, soybean, sugar, wheat, oil and natural gas, Capital 245 Group offers basically all options a trader may think of. 

 

Exploring Capital 245 Group trading platform we found many exotic currencies like Norwegian Krone, Swedish Krona, Danish Krone, Hungarian Forint, Israeli Shekel, Mexican Peso, Polish Zloty, Russian Rubble, Chinese Yuan, Singapore Dollar, Turkish Lira, South African Rand and Honk Kong Dollar, as well as CFDs on major crypto coins like Ripple, Monero, Stellar, Qtum, Tron, NEO, Litecoin, IOTA, Ethereum, Ethereum Classic, EOS, Dash, Bitcoin Gold, Bitcoin, Bitcoin Cash, Cardano and Zcash.

 

Capital 245 Group  also offers CFDs on spot metals like gold, silver, platinum, palladium and copper.

 

Leverage as high as 200:1

 

Another positive is the high leverage, many traders would appreciate, after in early August the European Securities and Markets Authority (ESMA) ruled that the leverage with all forex transactions on the |European market should be caped at 30:1. Leverage is restricted in the US and Japan as well, so 200:1, as offered by Capital 245 Group, may really seem quite attractive.

 

Still, traders should have in mind that as higher leverage is associated with higher risk, it should be used with caution.

 

Capital 245 Group Disadvantages:

 

No license

 

This is a major setback. The companies behind Capital 245 Group - BALI LIMITED and  SolutionsCM LTD, both based in Bulgaria, do not have a license to offer financial and brokerage services on the European market, as well as in the US, Japan and Australia.

 

We should note that all forex and CFD brokers, operating on those major markets should be licensed and authorized by official regulators such as  the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

 

Properly regulated brokers have to report regularly to the watchdog, with which they are registered, should allow external audits, should maintain a certain level of operation capital and should keep all clients money in a segregated, protected form creditors account.

 

In addition, some regulators even require brokers to insure the trading capital. Traders with FCA regulated brokers, for example, are entitled to a compensation of up to 50 000 GBP in case their broker goes insolvent. With CySEC brokers similar compensation scheme grants up to 20 000 EUR of the trading capital. 

 

Here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Unusual withdraw conditions 

 

Capital 245 Group has some rather unusual withdraw conditions. If you have accepted a bonus, offered by the broker, you will have to reach a certain minimum trading volume in order to be able to withdraw anything. The minimum trading volume is calculated by the formula: 30 times the bonus plus your deposit - a condition that might prove quite challenging.

 

 

Absurdly high spreads

 

When we opened Capital 245 Group web based trading platform, the benchmark EURUSD spread was as high as 18,6 pips, which is outrageously high.

 

 

Have in mind that acceptable spreads should start not higher than 1,5 pips, so here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Unacceptably high minimum deposit requirement

 

The minimum investment to start trading with Capital 245 Group is 500 USD and that is plainly too much. Bear in mind that with most brokers you can open a trading account with about 250 USD or so, while with some big well established players like FBS and IG you can start trading with just 5 USD.

 

MetaTradcer4 not available

 

Capital 245 Group offers a rather lousy, web based trading platform, similar to the ones, used for binary options best, which lacks some basic functionalities standard with classic trading solutions like the MetaTrader4. For example, with Capital 245 Group you do not have the option to run automated trading sessions. Here you may also check our list of brokers, supporting the MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

Capital 245 Group is not regulated and that is a major setback. As we already discussed, trading with unregulated brokers comes with unreasonably high risk of loosing your money to scammers so our advise is to invest with licensed companies only.

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Traders` reviews for Capital 245 Group

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