ANZ Capitals – Is This a Safe Broker?

Website URL: https://anzcapitals.com/

Founded: 2019

Regulations: No Regulated

Languages: English, Arabic, Simplified Chinese, Dutch, French, German, Italian, Portuguese, Spanish, Russian

Deposit Methods: NetPay

Minimum Deposit: $250

Free Demo Account: None

Number of Assets: N/A

Types of Assets: Fiat Currencies, CFDs on Commodities, Stocks, Indices, Major Cryptos (Bitcoin, Ethereum, Litecoin, Golem, Monero, Ripple, Zcash, Nxt)

Trading Accounts and Conditions

ANZ Capitals offers its customers a choice of three different accounts:

• Beginner Account: This account has a minimum deposit requirement of $250.
• Bronze Account: To trade on the Bronze Account, you need to make a minimum deposit of $5,000.
• Silver Account: To begin using the Silver Account, you need to first make a deposit of $25,000.

The leverage ratio offered for 3 types of accounts is 1:100. However, there is no information about the spread offered by this broker.

ANZ Capitals – Advantages

At first, we were going to put down the fact that ANZ Capitals offers the MT4 trading platform as an advantage. However, after we downloaded the platform and tried using it, we were faced with registration issues.

When we were finally able to access the platform, we found out that it was actually offered by a third party and not this broker.

Besides this one seeming advantage, there was nothing positive about ANZ Capital’s service offerings or trading platform.

ANZ Capitals – Disadvantages

Here is the list of disadvantages of trading with ANZ Capitals:

• Lack of a License

According to the information given on ANZ Capitals’ website, the broker is owned by a company by the name of Vimaxo LTD, which is supposed to be based in Bulgaria, but the broker’s operations are run from an office in London.

If this is truly the case, then the broker and its parent company should either be regulated by the Bulgarian financial authority, the Financial Supervision Commission (FSC), or the UK’s Financial Conduct Authority (FCA), or both.

However, when we checked the online registers of both the regulators, we did not find either Vimaxo LTD or its broker ANZ Capitals listed.

What this means is that this broker is not regulated in any way and it is not authorized to offer financial services to traders. Thus, this broker is operating illegally and this means that your investments are at risk if your contract with ANZ Capitals.

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• No Demo Account Available

ANZ Capitals does not offer its customers a demo account, which we feel is another indication that things are not right with this broker.

A legitimate broker ensures complete transparency towards its clients. And one of the best ways to prove its genuineness is to allow its customers to see clearly what its trading conditions are and to let them test their trading platform.

So, this broker not offering its clients a demo account also tends to be suspicious, indicating some kind of scam – especially considering the fact that most scammers are known to avoid being transparent.

• Trading Platform Provided by Third Party

ANZ Capitals claims to provide its customers with the MT4 platform to trade with. This would have been a plus for the broker had this platform not been licensed to a third party. The name of the company that owns this platform is Trading Technologies Ltd. And we know nothing about this entity.

What we do know is that it is not normal for a broker to use another company’s branding on its trading platform; the broker usually buys the license for the trading platform for itself and uses its own branding on it.

When we downloaded this platform to test its validity, we found that ANZ Capitals had actually lied about offering its customers the MT4 platform for trading.

What we found instead was a weak, unproven web-based interface that was not branded. Now we understand why this broker does not offer its clients a demo account. It doesn’t want prospective clients to find out that their entire operation is a sham.

• No Terms and Conditions Given

Another serious red flag is ANZ Capitals’ lack of the most critical legal document – the Terms and Conditions (also called the Client Agreement).

This is the document that defines the relationship between the broker and the trader. It is this contract that protects traders from being taken advantage of.

How we found out about this lack of a critical document is also interesting. We were trying to register for an account with ANZ Capitals so that we could check its trading conditions. At one point of the registration process, we were asked to agree to the Terms and Conditions.

When clicked on the Terms and Conditions button, we found that it did not work. This made us realize that any trader who wanted to open an account with ANZ Capitals would have to do so without having read the Client Agreement.

• Irregular Withdrawal Fees

This broker states that a 6.7% withdrawal fee will be charged to you every time you withdraw funds from your account. This is a very irregular condition since most legitimate brokers have either nominal transaction fees or none at all.

Conclusion 

Everything about this broker reeks of dishonesty. ANZ Capital is not regulated, mostly anonymous, and it has lied about its product offering. It claims to offer its customers the MT 4 trading platform, but in reality, what customers get is a low-grade, poorly constructed web-based interface that is completely unproven.

Added to that there are no Terms and Conditions given, which means that they can take their customers for a ride and get away with it.

This is not a broker to be trusted. Not by a mile. We strongly recommend to all traders that they avoid trading with ANZ Capitals since it is clear that it is a scam operation.

ANZ Capitals

2.5

User Experience

3.6/10

Payment Options

2.4/10

Security

2.2/10

Support

2.0/10

Reputation

2.3/10

Pros

• None

Cons

• Lack of a License
• Trading Platform Provided by Third Party
• No Terms and Conditions Given
• Irregular Withdrawal Fees
• No Demo Account