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CapitalSwissFX Review - is it scam or safe?

CapitalSwissFX Review - Is capitalswissfx.com scam or good forex broker?

RATING: 1 / 3 REVIEWS CapitalSwissFX
CapitalSwissFX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

Account type Minimum deposit  Maximum leverage Spread
Standard Unspecified 1:400 From 1.0 pip*

*these are the claims on the website, our testing of the demo platform showed wider spreads 

 

CapitalSwissFX is a forex and CFD broker. Their offer leaves a lot to be desired and we almost get the feeling the project isn’t in it’s final form. While the unusual situation with the spreads is one of the things we don’t like, but be sure to read the full review, to get an even better picture.

 

CapitalSwissFX Advantages

 

Industry-leading platform (MT4) 

The trading software offered by CapitalSwissFX is MetaTrader4, something which most forex traders will be familiar with. The platform is highly reliable and will suit all your needs – the crisp charting, swift executions and automated trading environment, provide something for everybody. On top of that a mobile app is available for traders, who are constantly on the go. Here is a preview of the platform as offered by this broker (click to zoom in).

 

 

>>Looking for more MT4 brokers?<<

 

Presumably decent spreads

The spreads advertised by this broker (starting form 1 pip) will make them a competitive company in the field, presuming they are real. CapitalSwissFX explicitly states the demo environment isn’t similar to the conditions real account holders will get. 

 

Very high leverage provided

CapitalSwissFX offers clients a maximum leverage ration of 1:400. This allows one to effectively scalp the market, or use any sort of strategy for that matter. Still, beware of the risks involved with high margin trading – losses can get big quickly, if you are too aggressive.

 

CFDs provided (including crypto)

The number of asset classes covered by this broker is quite decent. Contracts for difference on commodities, indices and the hottest new thing – cryptocurrencies are available. We have obviously seen even broader offers, but this one is quite decent. 

 

CapitalSwissFX Disadvantages

 

Unregulated, offshore broker

The company behind this forex broker is called Swiss Cap Ltd and based in St. Vincent and the Grenadines. We generally don’t recommend dealing with offshore brokers, but on top of that this is an unregulated one. This combination is one which can prove to be quite dangerous for your investment.

 

We feel the need to mention: a surprisingly high number of sections on this broker’s website say something about Cyprus and the local law. We checked the   CySEC register, but weren’t able to find anything. This can be indicative of two things:

 

1) the company is planning to get a Cypriot license, which will significantly improve their credibility.

 

2) they have just copied content from another broker’s website, which obviously has the opposite effect.

 

Demo platform behaving unusual

The MT4 demo we got from CapitalSwissFX was ever so slightly unusual. Some of the spreads were fixed, while others were floating. The EUR/USD one was “stuck” at 3 pips, while some of its more exotic counterparts were floating. As we  mentioned above, the company has stated these trading conditions don’t simulate the actual trading environment, but this still leaves a negative feeling. 

 

Few (and not that clear) payment methods

CapitalSwissFX accepts Credit Card deposits and potentially Bank Transfers. The wording on their website isn’t that precise and we can’t be certain about the latter. Alternative systems like PayPal, Skrill and Neteller are always nice to have.

 

>>Find a broker accepting Neteller here<<

 

Conclusion

 

CapitalSwissFX is an unregulated, offshore forex broker. This leads us to question everything else which they state on the website. The costs of trading are allegedly very low, but at the end of the day the demo account reveals a different (and very inconsistent) story. The company is one of the few ones which mentions these aren’t the real conditions and only an environment for people to test the platform.

 

We have to highlight again, this may (or may not) be a new company, which is pending approval from the Cypriot authorities. If this is the case, we will update this review, once they get a license. Until then, we will not recommend dealing with them.

 

>>A list of CySEC regulated brokers<<

 

The reason Cyprus is an attractive destination for forex brokers is the fact the country offer access to clients within the entire European Union. That being said, they are a tough watchdog, which applies all of the EU’s new legislation, including, but not limited to: 

 

1) requiring € 730,000 in capital, from new brokers;

 

 2) segregating client accounts (which makes it impossible for the broker to steal your funds); 

 

3) having a compensation scheme, which protects investors in case their broker goes bankrupt (limited to €20,000 in the case of CySEC).
 

To recap CapitalSwissFX:

Pros Cons
Industry-leading platform (MT4)  Unregulated, offshore broker
Presumably decent spreads Demo platform behaving unusual
Very high leverage provided Few (and not that clear) payment methods
CFDs provided (including crypto)  

 

Latest news about CapitalSwissFX
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Traders` reviews for CapitalSwissFX

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

 

 

been scammed £6000

I opened an account in January with Nick, I then conintued to invest around £4500. After the 6 months the account was on about £6000. I went to do a withdraw and heard nothing back. Then Nick blocked my number.
Now looking to take legal actions. If anyone has any information on the company for people working for them please find me on facebook. Ive been contacted by someone called Max who works with Capital Tech FX. These two people 100% know each other so stay clear from both.

Jared Williams 07/09/2019

£1,000 may have been scammed

I invested £250 and the investor asked me to increase my investment to £1000 i keep asking for my money money back but advisor keeps asking me to increase my investment how can i get my money back advisor now claims i have lose £1000 advisor name is mark

Daniel Gallivan 04/09/2019

CapitalSwissFX: It's a Scam

The company call the customer on the telephone and invite to open an account

You never withdrawal the money.
even if you make money from online trading

They propose to invest more and more. And when you ask a withdrawal all the people disappear.

Stay away it's a scam

MarcoRossi 06/05/2018
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