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CapitalTechFX Review - is it scam or safe?

CapitalTechFX review - Is capitaltech24.com scam or good forex broker?

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

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CapitalTechFX says to be both a wealth management company and an online forex and CFD broker, offering various trading instruments, including lots of stocks, ETFs, mutual funds and options, with four trading accounts, leverage as high as 1:500 and a web based platform.

 

 

Account type Min. deposit Max. leverage Spreads/ Payout
Micro Account $250

1:500

1 pip
Standard Account $500 1:300 1 pip
Premium Account $25 000 1:100 0,6 pips + $6/lot
VIP Account $50 000 1:100 0,2 pips + $6/lot

 

And CapitalTechFX also says to run offices in the United Kingdom, Cyprus, Singapore and Dubai and to be licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC).

 

In reality however CapitalTechFX turned out to be nothing more than a clone website – they use the license number and other corporate details of a legit company, regulated in Cyprus in an apparent attempt to scam investors.

 

On top of that CapitalTechFX has already been blacklisted by CONSOB – the financial regulator in Italy, so if you still consider whether to invest any money here, better read the following paragraphs.

 

CapitalTechFX Advantages:

 

For obvious reasons we have no choice but to leave this section empty.

 

CapitalTechFX Disadvantages:

 

Clone website, blacklisted by CONSOB

 

CapitalTechFX claims to be a trade name of Crowd Tech Ltd, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with a license number 202/13.

 

 

And although Crowd Tech Ltd, is a legit company that is truly regulated by CySEC, the website we review here has nothing to do with it. CapitalTechFX is using corporate and other details of the legit business in an apparent attempt to scam investors – we call such websites clone websites. You can see below the license of Crowd Tech Ltd and compare their approved domain name with the one used by Crowd Tech Ltd:

 

 

And as we already noted CapitalTechFX are blacklisted as potential scammers by the Italian financial regulator – CONSOB. You can see the warning here:

 

 

Market maker offering managed accounts

 

Another indication that we are dealing with scammers is the fact that along with the standard trading accounts they seem to be offering managed accounts as well. The problem here is that as most other brokers, legit ones including, CapitalTechFX acts as a market maker, which means they make money whenever traders lose. So obviously if a market maker offers to manage your account it will be in a conflict of interest, because naturally it will have an incentive to lose your money in its own pockets.

 

Trading bonuses

 

Trading bonuses are in practice banned on most regulated markets like the European Union for a single reason – they always come with additional withdraw conditions, most probably some minimum trade volume requirement, which quite too often scammers use as a pretext to cancel your withdraw requests.

 

MetaTrader4 not available

 

CapitalTechFX offer some sort of a unproven web based trading platform, which we were not able to test, as we were not able to open a demo account. Legit brokers on the other hand offer well known and reliable trading solutions as for example the MetaTrader4 – by far the most popular platform in the industry, featuring lots of in build market indicators and modifiable trading bots, with the help of which you can easily run algorithmic trading sessions. And because the platform also comes with an advanced pack of charting tools, here you may check as well our list of brokers, which do support the MT4:

 

>>MT4 Brokers<<

 

Skrill not accepted as payment method

 

Despite the fact that CapitalTechFX shows the logos of various electronic wallets on its homepage, as it turned out they accept payments only with bitcoins and credit cards. Skrill for example is not among the payment options and that is yet another indicator that the website is not legit and regulated.

 

According to their latest anti scam policy, currently Skrill partners only with legit and properly regulated brokers, while as we already discussed CapitalTechFX is a clone website, blacklisted by the the financial authorities in Italy. In any case here you may check our list of brokers accepting payments with Skrill:

 

>>Brokers accepting Skrill<<

 

Conclusion:

 

Not only CapitalTechFX is blacklisted by CONSOB in Italy as a potential scam broker, which is a warning sign bad enough by itself, but also what we have here turned out to be nothing more than a clone website.

 

So once again, always double check any information a broker might offer you on its homepage, and make sure you trade only with properly regulated brokers, like the once licensed and authorized by CySEC in Cyprus or the Financial Conduct Authority (FCA) in the UK, where your funds will even be covered by an insurance of up to 85 000 GBP. Here you may check our link with FCA regulated brokers: 

  

 >>FCA Regulated Forex Brokers<< 

  

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Traders` reviews for CapitalTechFX

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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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