Capital Whale – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Capital Whale - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://capital-whales.com
Founded: 2023
Regulations: None
Languages: English, French
Deposit Methods: €5,000
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: 150+
Types of Assets: Currencies, Stocks, Commodities, Cryptocurrencies, Indices
Trading Accounts and Conditions
Capital Whale offers the following types of trading accounts:
- Bronze: The minimum required funding is €5,000. The leverage is up to 1:20.
- Silver: The minimum required funding is €25,000. The leverage is up to 1:50.
- Gold: The minimum required funding is €100,000. The leverage is up to 1:100.
- Platinum: The minimum required funding is €250,000. The leverage is up to 1:200.
- Whale: The minimum required funding is €500,000. The leverage is up to 1:500.
Spreads are not specified; we are only told that they are either standard, medium or low. Other information on trading conditions such as commissions, order execution methods, stops and so on is also missing.
Capital Whale – Advantages
There are no advantages to trading with Capital Whale.
Capital Whale – Disadvantages
We believe that Capital Whale is a scammer and here are all the reasons why we have come to that conclusion:
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Lies About Being Regulated
On their website, Capital Whale claims to be regulated under the European Financial Security and that their license number is 322745.
The broker also provides us with an address in Cyprus, however omits to provide us with any telephone number. The only way that one can get in touch with them is via the Get in Touch form on the footer of their website. We assume that once you enter your details, someone from Capital Whale will get back in touch with you.
Now, here are all the holes in the information that this broker has provided us.
There is no government body called the European Financial Security! So that claim by Capital Whale is an outright lie. Added to that, their claim to be based out of Cyprus is also a lie. If a broker is based in Cyprus, they need to be regulated by the Cyprus Securities and Exchange Commission (CySEC), a well-respected financial regulatory body. We checked the CySEC’s online register; there is no broker by this name or domain address listed with them. Therefore, their address is also fake!
The fact that this broker has gone out of its way to try and prove that it is regulated is in itself an indication of their scam. The reality of the matter is that Capital Whale is an unregulated, anonymous and unscrupulous scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Poor Trading Software
The trading software a broker offers is their mainstay. Therefore, it is imperative that they offer their clients the best possible trading platform available. This is why most brokers offer their clients either the MetaTrader 4 or the more recent MetaTrader5 platforms. These are two of the best platforms in the world, with a massive range of tools that make trading intuitive.
With scammers, you either don’t get any kind of a trading platform, or you get one that is so poorly constructed that is can barely function at all. With Capital Whale, it is the latter.
When we checked this broker’s trading platform, it was a poorly designed, basic, web-based trading software, one that can do not much more than buy and sell a few assets.
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AnyDesk and TeamViewer Offered
This broker’s dashboard shows that there are download links to AnyDesk as well as TeamViewer. These are both remote access software. This means that if you download this software, the broker will be able to access your desktop from anywhere in the world. This leaves all your data open to them; your passwords, banking details and other sensitive information will be accessible to them.
Scammers ask their clients to download these kinds of software, using the excuse that they will be able to provide better technical assistance to them through such software. Of course, this is just a tactic for them to gain access to your computer.
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Issues with Trading Conditions
We also can tell that this broker is a scammer because of the trading conditions they offer.
Firstly, their minimum deposit requirement. It is 5,000 Euros. The industry average is just between $100 and $250, and there are so many more brokers today that offer account openings for just $10 or even less. Therefore, this kind of money that Capital Whale is asking for simply shows that they are trying to scam people as much and as soon as possible.
Next, their leverage. Leverage ratios in the EU (of which Cyprus is a member nation – and therefore obligated to follow the norms of financial regulations set down by the EU) are capped at 1:30, therefore, the 1:500 leverage offered by this broker is simply illegal and shows that they are scammers.
And the lack of spreads, key trading conditions, also tells us that this broker is a scammer. Added to this, the lack of detailed information on all trading conditions is also another sign of Capital Whale’s scam.
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Only Crypto Payment Method Available
The only way that you can make deposits is using cryptos. This is a sure sign of a scam since crypto payments are untraceable as well as being irreversible transactions. This means that if you make a payment using cryptos, you will never get your money back. This is the reason why scammers will usually only offer their clients the option of paying using cryptos.
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Bonuses Offered
Capital Whale also offers their clients bonuses, which tell us that they are scammers; bonuses of the kinds they offer have been banned in most jurisdictions. This is because of the very unfair withdrawal terms that are associated with these bonuses.
Conclusion
Capital Whale is a scammer and if you trust them with your money, you are sure to lose your funds.
Capital Whale
Pros
- None
Cons
- Lies About Being Regulated
- Poor Trading Software
- AnyDesk and TeamViewer Offered
- Issues with Trading Conditions
- Only Crypto Payment Method Available
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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