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Capital Street FX Review - Is it scam or safe?

Capital Street FX Review - is capitalstreetfx.com scam or good forex broker?

RATING: 1.1 / 2 REVIEWS Capital Street FX
Capital Street FX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads
Standard $100 0.01 1:400 1.8 pips / 3 pips, fixed

 

Capital Street FX offers its clients a single commission-free account type with NDD environment, and high leverage levels reaching 1:400 on the ActTrader platform. Traders can choose between fixed or variable spreads, Besides, micro tradeable lots are offered to those traders unwilling to put much at stake.

 

In addition, the broker offers Islamic (swap-free) services, as well as several advanced accounts for clients willing to invest $5000 and more. The VIP accounts offer trading in additional financial instruments, such as bonds, ETFs and options, and some extras  - Educational Resources, access to webinars, account managers and the like.

 

Actually, the spreads offered by offerings of Capital Street FX are not very attractive. Variable ones are averaged 1.8 pips on EUR/USD, which is above the standard range of 1.0 – 1.5 pips. Fixed ones are no better, amounting to 3 pips on EUR/USD, while most fixed -spread brokers offer a spread of 2 pips for this pair. Nonetheless, the biggest disadvantage of Capital Street FX is the lack of proper authorization to provide brokerages services.

 

The Company. Security of Funds

 

Company

Country

Regulation

Capital Street Intermarkets Limited 

Mauritius

FSC

 

Capital Street FX is an offshore broker, offering trading in more than 50 currency pairs and precious metals on their Capital Trader (ActTrader) platform. Unfortunately, this broker does not offer commodities and indices CFDs and does not support the most popular platform – the MetaTrader 4.

 

Although brokers registered with the Financial Services Commission of Mauritius (FSC) in Mauritius must satisfy certain prerequisites, such as to hold MUR 1 000 000, and to keep client funds in segregated accounts, we do not recommend them. Offshore financial licenses are shiny pieces of paper that many brokers upload on their websites, trying to present themselves as trustworthy companies to invest in. Well, the truth is that investing in offshore brokers is extremely risky and a large percentage of those companies are in fact indulged in fraudulent practices.

 

If you intend to invest a large amount of funds, we advise you to select among FCA-regulated brokerages, US or Swiss ones, where the respective financial watchdogs are always on alert and your money will be safe and protected.

 

Trading Platforms

 

Unlike most brokers, this one does not support the MetaTrader 4 (MT4) platform, but instead offers its customized version of ActTrader, called Capital Trader. It is available as desktop, web and mobile versions. We downloaded the desktop version and registered a demo account, bit never received an e-mail from Capital Street FX with the user name and password, so we could not test the platform.

 

Promotion

This broker offers 150% on-deposit tradeable bonus (up to $6,000) to each live client. The bonus itself is for trading purposes only, but the profits from it could be available for withdrawal: $10 for every round turn standard lot traded. It means $20 profit for 2 round turn lots, $30 profit for 3 round turn lots and so on.

 

Methods of Payment

 

Capital Street FX offers its clients bank wire transfer, credit/debit cards, as well electronic payments as payment options.

 

Conclusion

 

Capital Street FX is an offshore brokerage that uses the ActTrader platform. Apart from the fact that it is not properly regulated, its spreads are too high and its product portfolio is limited only to currency pairs.  To sum up the above:

 

Pros Cons
ActTrader available Offshore broker
Bonus offered High spreads
  MT4 not available
  Irresponsive customer support

 

Latest news about Capital Street FX
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Traders` reviews for Capital Street FX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scam Broker- #1 Robber in Forex World!!

One of the biggest scammer's in the Forex world!! Don't waste your Money and time with this scam broker. I have solid proof that they stole my entire profit money. Wish I could post everything here.

R Mathews 05/04/2018

Capital Street FX

Hello Fellow Traders

I have been a client of Capital Street FX since 2015 and found some of the contents of the review to be inaccurate.

I have traded with the company for 2+ years and their spreads are in fact as mentioned on the site.

You need to properly configure your account. This means opening an account in the right category and choosing instruments with variable spreads.

I am not sure how you said that you could not download/test the platform but the spreads are as you have mentioned as being too high.

As far as CYSEC and FCA and NFA(US) brokers are concerned, my experience is that they tend to be the ones that are the most unfriendly to customers and unsafe too - there is a countless number of brokers from CySEC and FCA that have had problems causing clients to lose all/part of their funds. Could someone name ONE Mauritius based broker that has had similar issues? JUST ONE?

The number of instruments offered is close to 300 on the Capital Street FX plaform . It includes currencies, commodities, individual stocks, indices and bonds as well. I am not sure the reviewer has actually tested the platform as this information is freely available on the site.

In terms of Customer Support, they are available on live chat, support tickets, skype as well as email. Again I have never had issues and they even record videos and send them to users having problems with anything on the trading side, or account operations side(deposits or withdrawals for example).

As a client of the company I can vouch for the fact that the operation is much more humanized compared to the so called "better brokers". The support team responds sympathetically, politely as well as with the intention of wanting to make things happen and even offer custom solutions where the standard solution is not something the customer wants.

For example, I set up an IB plan with them where they customised the rebates in a way that my clients can get promotions and I can still get paid commissions and incentives, which no other broker offers.

I respect the intention of the reviewer, but I think the review is somewhat biased.

Regards

ST

Serious Trader 07/31/2017
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