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Corsa Capital Review - is it scam or safe?

Corsa Capital review - Is corsaforex.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Corsa Capital
Corsa Capital is not regulated. We cannot guarantee your money is safe.

Corsa Capital is an offshore broker, which unfortunately is not licensed  to provide financial services on regulated markets like the European Union, Australia, Canada or the US. On top of that Corsa Capital does not offer forex or CFDs, but binary options – a trade instrument, which recently was banned throughout Europe. 

 

Corsa Capital Advantages:

 

We always try to come up with some positive sides about the broker in the beginning of our reviews, so here that might be the selection of trading assets – on Corsa Capital web based trading platform we counted 21 major currency pairs, as well as a number of stocks, gold and silver. It may not seem much, but basically those are the most traded instruments anyway so we will credit them with their selection. No crypto assets were available however, so here you may also check our list of brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Various payment methods

 

That might be another positive side. Corsa Capital says they accept payments with major cards like VISA and MasterCard, bank wire and e-wallets including QIWI Wallet and Skrill. They do not accept bitcoins however, so here you may also check our list of brokers, where you can pay with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Corsa Capital Disadvantages:

 

No license

 

As we already noted Corsa Capital is an offshore broker - Corsa Capital Investments, Corp. the company behind it is based on the British Virgin Islands. The real problem, however here is that Corsa Capital does not have a license whatsoever and is virtually unaccountable for the way they handle your money. 

 

Otherwise the British Virgin Islands Financial Services Commission (FSC) do regulate forex and CFD brokers, although the regulatory regime is much more relaxed then the one imposed by respectable financial watchdogs like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), so our general advice is to trade only with properly regulated brokers from Europe, Canada, Australia or the US.

 

On top of that if you trade with a FCA regulated broker your trading account will be insured for up to 85 000 GBP, so here you may also check our list of FCA brokers:

 

>>FCA Regulated Forex Brokers<<

 

Trading bonuses with unusual withdraw conditions

 

Corsa Capital is offering trading bonuses and although that may seem like a good news, in fact it is just a trap – with a bonus you will not be able to withdraw any of your profits until you lose everything – that is what usually happens.

 

Trading bonuses, no matter if we are talking about a forex broker or a binary options broker, always come with some additional withdraw conditions, usually some minimum trade volume requirement. So it is no wonder that the European authorities have banned all trading bonuses, along with all binary options bets. Those restrictions came into force in July 2018 and are already made permanent by the authorities in the Netherlands and the UK.

 

Note that with Corsa Capital  you are allowed to use just 1 USD of your bonus with a single bet so basically you will have to make at least 100 bets (your welcoming bonus is 100 USD) before you will be allowed to withdraw any of your profits:

 

 

Low payout

 

The maximum payout you will get with Corsa Capital is 80% and that is considered unattractive. Have in mind that with binary options bets the payout on the benchmark EURUSD pair should be no less then 85%, so here you may also check our list of brokers offering tighter spreads and better trading conditions in general:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

Corsa Capital is offering a lousy looking, overly simplified web based trading platform, which you may see here:

 

 

Most forex and CFD brokers on the other hand support MetaTrader4 - the most widely used trading solution on the market, featuring numerous market indicators, advanced charting tools and trading robots, with the help of which one can easily run automated trading sessions. So here you may also check our list of brokers supporting the MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

Corsa Capital is an offshore binary options broker without a license to offer financial services on regulated markets like the European Union. Honestly all of that sounds to us like a recipe for a scam, so our best advice is to avoid such brokers  altogether and to trade only with legit brokers regulated by the FCA in the UK, CySEC in Cyprus or ASIC in Australia – the three major regulatory hubs, where most brokers in the industry get their licenses from.

Latest news about Corsa Capital
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Traders` reviews for Corsa Capital

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