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CapproFX Review - Is it scam or safe?

CapproFX Review - is capprofx.com scam or safe?

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

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Trading Accounts & Conditions

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Spreads
Pro Trader $10 0.01 1:1000 From 1.3 pips
ECN Trader $500 0.01 1:1000 From 0.8 pips

 

CapproFX offers its clients two account types to choose from. Both of them provide commission-free trading, leverage up to 1:1000 and variable spreads on the MetaTrader 4 platform. The ECN Trader Account offers more instruments for trade, while the Pro trader is limited to forex pairs and precious metals.

 

There are also Islamic (swap-free) accounts with this broker, here no swap or rollover interest is charged on overnight positions to investors of Islamic belief. PAMM services are also available.

 

CapproFX’s offerings seem reasonable and rather attractive. The minimum initial deposit required is low and the spreads offered are average, falling within the range 1.0 – 1.5 pips for the EUR.USD pair. Only leverage levels seem too high for a decent risk management strategy.

 

The Company. Security of Funds

 

Company

Country

Regulation

Cappro Capital LTD

UK

N/A

 

CapproFX is a UK-registered broker with offices in London, Hong Kong and India. It offers online trading in more than 50 currency pairs, various CFDs, as well as precious metals on the MT4 platform.

 

Although the broker claims it offers Fund protection through the Financial Services Compensation Scheme, however we checked in the FCA register and did not find Cappro Capital LTD there. What is more, most user reviews of CapproFX are not positive.

 

That is why we do not recommend this broker and we advise traders to avoid unregulated brokers and choose duly supervised companies, like those by UK's FCA or the Australian Securities and Investment Commission (ASIC).

 

Trading Platform

 

Like most brokers, CapproFX supports the MetaTrader 4 (MT4) platform, desktop and mobile versions offered.

 

MT4 has been around for over 10 years and it seems its popularity is not waning, although its developer is trying to out-phase it and focus on MetaTrader 5. MT4 is user friendly, offers advanced charting and analysis tools and allows hedging and automated trading (EAs).

 

Promotions

Clients of CapproFX who deposit 100 USD or more in their accounts are entitled to a bonus from 10%  to 100%. In order to withdraw the proceeds from it, they have to meet certain trading volume requirements.

 

Methods of Payment

 

CapproFX offers its clients the following payment methods: bank wire transfer and via credit/debit cards (Mastercard, Maestro, Visa), as well as Skrill and PayPal.

 

Conclusion

 

CapproFX is yet another unregulated forex and CFD broker that supports the MT4 platform. Although its trading conditions seem attractive, we would not recommend it, as no authority is overseeing its activity. Here are, in a nutshell, the advantages and disadvantages of CapproFX:

 

Pros Cons
NDD execution Not regulated
Competitive spreads No Choice of trading platforms
MT4 available  
   

 

Latest news about CapproFX
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Traders` reviews for CapproFX

Spread

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Slippage

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Requotes

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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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