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Capital88 Review - is it scam or safe?

Capital88 review - Is capital88.com scam or good forex broker?

RATING: 1 / 2 REVIEWS ForexBrokerz Capital88
Capital88 is an offshore broker. Your money is not safe.

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Capital88 is a forex and CFD broker, offering a variety of currency pairs and CFDs on commodities, indices and stocks, with a web based platform and a choice of six different account types. If you are thinking about opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Basic Account $250 n/a n/a
Bronze Account $2000 n/a n/a
Silver Account $4000 n/a n/a
Gold Account $10 000 n/a n/a
Platinum Account $25 000 n/a n/a
Black Account n/a n/a n/a

 

Capital88 Advantages:

 

A good selection of trading instruments

 

Capital88 offers all major and minor forex pairs and even a selection of exotic currencies. The broker also offers CFDs on precious metals, like silver and gold, energy commodities like oil and natural gas, all major indices and a variety of stocks. Still, as we do not see any crypto coins, here you may check our list of brokers, offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Variety of payment methods

 

You can fund your account at Capital88 with all major credit or debit cards like VISA and MasterCard, bank wire and a selection of e-wallets, including  Neteller, Giropay, Sofort Banking and Paysafecard. Still, we do not see Skrill and we miss the option to pay with Bitcoins, so here you may check our list of brokers, accepting payments with Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

You can start trading with 250 USD

 

You can open a Basic Account with Capital88, investing just 250 USD, which is in line with what most brokers require on the market. Still, we should note that with some big, well established brokers like FBS and IG you can start trading with just 5 USD or even less.

 

Just for the record, for one of the premium accounts with Capital88 you will have to invest much more – starting form 2000 USD for a Bronze Account up to 25 000 USD for a Platinum Account and even a bigger unspecified amount for a Black Account, for which you will have to receive a special invitation.

 

Capital88 Disdvantages:

 

Lack of regulation

 

Capital88 is owned and operated by BT Ventures Ltd. - a Bulgaria based company with a contact address in Tallinn, Estonia. Here we should note that both Bulgaria and Estonia, which are EU countries, require all companies, providing financial services on their territory, to be licensed by the respective national financial authority or a similar regulatory institution in another EU country. So we diligently checked the registers of the Financial Supervision Commission in Bulgaria, as well as the  Estonian Finantsinspektsioon and unfortunately we were not able to find neither Capital88 nor BT Ventures Ltd. there. That leaves us with no choice, but to conclude that the broker is unregulated – a fact that significantly decreases its credibility.

 

Have in mind that regulation is the single most important factor for the safety of any investment on the forex market and that most unregulated brokers are involved in scam activities.

 

All properly licensed brokers, on the other hand, do follow strict financial and ethical rules, including the requirements to keep all clients money in a segregated, trust account and to maintain a certain minimum operational capital, which in the case of the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) is in the amount of 730 000 EUR.

 

On top of that traders with all FCA regulated brokers are entitled to a compensation of up to 50 000 GBP in the unlikely case their broker goes insolvent. A similar compensation scheme, backed by the CySEC, guarantees traders up to 20 000 EUR of their capital. Here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Unusual withdraw conditions and fees

 

In the Terms and Condition section of Capital88 we read that in order to withdraw any funds, if you have agreed to receive a bonus from the broker, you will have to reach a trading volume equal to 30 times the bonus plus your initial deposit. 

 

 

On top of that if you want to withdraw any profit, earned by using a bonus or leverage, you will have to reach a minimum trading volume of at least 600 000 times the deposit amount. That in our view is highly unusual, not to mention that Capital88 reserves the right “to change at any time and at its sole discretion the required minimum volume to withdraw profits made by using leverage...” 

 

 

We should also note that there are a series of fees – a 3,5% service fee on all withdraws, a profit clearance fee and a maintenance fee.

 

No information about the trading conditions

 

Unfortunately we are not told what is the maximum leverage allowed with Capital88. We are also not told what are the starting spreads with the different account types. So here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

Capital88 offers a lousy looking web based platform, which reminds us of some simplified platforms, used for binary options bets.

 

 

So we miss the MetaTrader4 – a well known, reliable platform used by more than 80% of all traders. MT4 is probably best known for its automated trading option, where you can use customisable trading bots to execute trades, based on trends, revealed by more than 50 in-build market indicators. So here you may check our list of brokers, offering the MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

Capital88 is an unregulated broker with very limited credibility, which on top of that has some highly unusual withdraw conditions. As we already discussed, trading with unregulated brokers is associated with unreasonably high risk of loosing your money to scammers. 

Latest news about Capital88
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Traders` reviews for Capital88

Spread

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Slippage

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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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Capital88 - Érdidas para mi

Buenas tardes estoy a la espera de su respuesta con relación a la solicitud formulada, o es que NO me quieren Responder? Informele al reemplazo del ser Alex Martínez que según me dijeron no saben el paradero de El , que me llame, voy a esperar su llamada hasta la 3 de la tarde, sino procederé a cerrar la operación abierta, ya que me esta generando pérdida y no tiene viso de recuperación. y ya he perdido demasiada plata, +- cerca de B/ 11,000.00. de no ser posible que este Sr me llame; que me llame cualquiera persona formalmente con el que pueda conversar al respecto. Le hago la salvedad, que con este Sr van ya 4 asesores financieros que ustedes unilateralmente me han asignado y todos han terminado con el mismo resultado PÉRDIDAS PARA MI. Le Pido por favor atender mi solicitud a la mayor brevedad posible.
Saludos

Translated by Google:

Retreats
Good afternoon, I am waiting for your response in relation to the request made, or do you not want to respond? Tell the replacement of Alex Martínez, who they told me they do not know El's whereabouts, call me, I'll wait for his call until 3 o'clock in the afternoon, but I'll proceed to close the open operation, since it's generating a loss and I'm not It has a vision of recovery. and I have already lost too much money, + - close to B / 11,000.00. if it is not possible for this Sr to call me; Call me any person formally with whom you can talk about it. I make the reservation, that with this Mr they are already 4 financial advisors that you have unilaterally assigned to me and all have ended with the same result. LOSSES FOR ME. I ask you to please attend to my request as soon as possible.
regards

aespinosad1@cableonda.net 07/12/2019
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