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CapoTrade Review - is it scam or safe?

CapoTrade Review - Is capotrade.com scam or good forex broker?

RATING: 3.1 / 0 REVIEWS CapoTrade
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CapoTrade is a Cyprus regulated forex and CFD broker, offering currency pairs, precious metals, oil, indices, stocks and some crypto currencies on a web based trading platform. You can learn more about the trading conditions it offers in the following review.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $100 1:200 3 pips, fixed

 

CapoTrade Advantages:

 

Reliable license

 

CapoTrade is a brand name owned and operated by Spot Capital Markets Limited, a Cyprus Investment Firm, licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC) - one of the most trusted financial regulators on the global market. We should note here that other Spot Capital Markets brands include CBFinvest, CFD House and Cardinal Markets.

 

A CySEC license guarantees investors the safety of their funds and is crucial for the credibility of the broker. 

 

Apart form having to maintain a minimum operational capital, CySEC brokers are obliged to participate in the Investor Compensation Fund for Customers of Cyprus Investment Firms, which, in case a broker goes insolvent, guarantees up to 20 000 EUR of the invested capital . Here you can check our list of CySEC regulated brokers:

 

>>CySEC regulated broker<<

 

Good leverage

 

The maximum leverage offered by CapoTrade is 1:200 - enough to accommodate even the most audacious trading strategies. Still one can find even higher leverage on the market. Here you can check our list of brokers, offering leverage of up to 1:500 and above:

 

>> Brokers offering at least 1:500 in leverage <<

 

You can open an account with 100 USD

 

To start trading with CapoTrade you need 100 USD, which is basically in line with the minimum deposit required by most brokers. Still, have in mind that with some big players like XM and FXTM you can open an account with just 5 USD.

 

Various payment methods

 

With CBFinvest you can deposit or withdraw funds via Visa, Mastercard, Maestro, Carte Bleue, bank wire and e-wallets such as Skrill, Neteller, PaySafe, AstroPay, WebMoney, MonetaRu, Neosurf, SofortBanking, TrustPay, GiroPay and AliPay. However we do not see the option to pay with Bitcoins, so here you may check our list of brokers, accepting Bitcoin as a payment method:

 

>>Forex Brokers Accepting Bitcoin<<

 

Have in mind that there is a 10 EUR withdrawal fee applied with all payment methods.

 

CBFinvest Disadvantages:

 

Uncompetitive spreads

 

When tested with a demo account the EURUSD spread was fixed at 3 pips, which is more than one pip higher than what we are used to see with a standard account. So here you can check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Few forex pairs

 

CapoTrade offers just 19 forex pairs and no exotic currencies at all. Still there are CFDs on gold, silver, oil, indices and some stocks, as well as crypto currencies, including Bitcoin, Bitcoin Cash, Ethereum and Licoin. Here you can check other brokers also offering CFD trade with Bitcoin:

 

>>Bitcoin Forex Brokers<<

 

No swap-free or Islamic account

 

CapoTrade offers its traders just one Standard Account type. There is no swap-free account for example, where no interest is payed on positions left open over night. Swap-free or Islamic accounts are created especially for Muslim traders, who under the Sharia Law are forbidden to take or receive interest. Here you can check our list of brokers, offering swap-free, Islamic accounts:

 

>>Islamic Forex Broker<<

 

No MetaTrader4 available

 

The trading platform CapoTrade offers is web based. The interface is user friendly and intuitive. You can easily choose your leverage and set a stop loss level. The integrated market indicators however are just 9, while with the MetaTrader4 for instance you have more than 50.

 

 

With the MetaTrader4 you have also the option for automated trading, which has made the platform so popular both among experienced and beginner traders. MT4 allows you to run trading algorithms or Expert Advisors as they are called, which along with the market indicators, can be easily modified to better fit your trading strategy. 

 

Besides MetaTrader4 has great charting tools to explore the markets. All that said, the absence of MT4 is a set back for CapoTrade. Here you can check our list of brokers, also offering the MetaTrader4:

 

>>Find other MT4 brokers here<<

 

Conclusion:

 

CapoTrade is a CySEC regulated broker, where along the classic forex pairs you can trade CFDs on a couple of crypto currencies and stocks with pretty good leverage. On the negative side we should note that the spreads, as tested with the Demo Account, were not impressive. Still, trading conditions put aside, this is a well regulated broker with which you may feel totally secure about your investment. 

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Traders` reviews for CapoTrade

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