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Capital TradeFX Review - is it scam or safe?

Capital TradeFX Review - is capitaltradefx.com scam or good forex broker?

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

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Trading Accounts & Conditions

 

Account type

Minimum deposit

Maximum leverage

Average Spread

Mini

$300.00

1:500

1.8 pips

Micro

$100.00

1:500

1.8 pips

Standard

$100.00

1:200

1.8 pips

 

Capital TradeFX is an offshore forex and CFD broker, which offers the above account types. All of them are said to provide commission-free trading with variable spreads and the option to use micro lots. Read the full review to see all the details.



Capital TradeFX Advantages


MetaTrader 4 supported
This broker offers its services on the popular MT4 platform. The main strength of this trading solution comes from the standalone desktop app, which allows a lot of customization options through the MQL Marketplace, where you can find for free or purchase a wide range of custom technical indicators and automate trading systems (Expert Advisors).


Unfortunately, the broker does not offer a free downloadable version of the platform for testing purposes.



>>Better MT4 Brokers<<


1:500 in leverage

Although we generally consider high leverage levels as an advantage in the offering of forex broker, a ratio of 1:500 might result in significant loss. We suggest that you learn the basics of risk management before you start trading on margin.



Capital TradeFX Disadvantages


Unregulated company, allegedly related to NoaFX
Capital TradeFX claims to be licensed in St Vincent & Grenadines. However, this is an offshore destination where forex brokers are in fact not regulated. According to the information on the broker’s website, the company operating the brand is registered in Hong Kong, so probably it is based there. Nonetheless, Capital TradeFX does not hold a valid forex broker license, which is a major disadvantage. To put it simply, such companies can simply disappear with your money, then rebrand and start it all over again. Besides, some users claim that this broker is related to NoaFX, which is more likely a scam.


MT4 not available for download

We could not get access to Capital TradeFX’s MetaTrader 4 platform, although we registered a demo account. This is yet another red flag, as all decent brokers offer free demo accounts for testing purposes.


Announced spreads above the average
According to the information on its website, the typical spreads offered by Capital TradeFX are 1.8 pips on EUR/USD. Such spreads are above the industry’s average of 1.0 -1.5 pips for this pair. For a real-time comparison of some of the best offers in the business, check our dedicated platform.

 

>>Compare spreads here<<



Conclusion


A forex and CFD broker, Capital TradeFX supports the MT4 platform and offers commission-free trading with high leverage levels. This may sound good, but in fact it is not good enough.



First of all, Capital TradeFX is an offshore broker, and trading with such is a risky venture. Second, its forex trading services cannot be freely tested via a demo account. This should be enough not to open a real account with it. There are many scam brokers in the forex industry and Capital TradeFX might be one of them.


Most countries have dedicated agencies which monitor the financial services sector. The United Kingdom is a good example for excellent forex broker regulation.



>>Reliable FCA-regulated brokers<<



All brokers licensed by the UK’s financial watchdog, the Financial Conduct Authority (FCA) are required to comply with a set of requirements. They must keep client funds in segregated bank accounts, to report transactions, and to participate in the Financial Services Compensation Scheme (FSCS). This is a collective fund, which guarantees investments against the broker declaring bankruptcy. There is a £50,000 per client limit.



Here is our recap of this broker:


Pros

Cons

1:500 leverage

Offshore broker

MetaTrader 4 supported

Spreads above the average

Commission-free trading

MT4 not freely downloadable

 

 

 

 

Latest news about Capital TradeFX
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Traders` reviews for Capital TradeFX

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

 

 

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