CapitalGates – Are They a Scam?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
CapitalGates - DO NOT TRADE WITH THIS PROVIDER
2.2/10
$100
Minimum Depositupdated 2024
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://capitalgates.io
Founded: 2024
Regulations: Unregulated
Languages: English, Spanish, Italian
Deposit Methods: Credit Card, Wire Transfers
Minimum Deposit: $5000
Free Demo Account: Unavailable
Number of Assets: Unspecified
Types of Assets: CFDs on Forex, Cryptocurrencies, Stocks, ETFs
Trading Accounts and Conditions
CapitalGates offers their clients the following types of trading accounts:
- Basic: $5,000 to $10,000 is the deposit range required. Leverage is 1:40. There is a 40% Welcome Bonus. Withdrawals take 4 business days.
- Silver: $10,000 to $25,000 is the deposit range required. Leverage is 1:100. There is a 50% Welcome Bonus. Withdrawals take 3 business days.
- Gold: $25,000 to $100,000 is the deposit range required. Leverage is 1:200. There is a 60% Welcome Bonus. Withdrawals take 2 business days. You get up to $1,000 in Rewards.
- Platinum: $100,000 to $1,000,000,000 is the deposit range. Leverage is 1:400. There is a 70% Welcome Bonus. Withdrawals take 1 business day. You get up to $5,000 in Rewards.
- Diamond: The minimum deposit requirement is $1 million. Leverage is 1:1000. There is a 125% Welcome Bonus. Withdrawals take 12 hours. You get up to $75,000 in rewards.
Spreads and other trading conditions are not specified.
CapitalGates – Advantages
There are no advantages to trading with CapitalGates.
CapitalGates – Disadvantages
Here are all the issues we have found that tell us that CapitalGates is a scammer and needs to be avoided:
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Unregulated Broker
The first issue that tells us that CapitalGates is a broker that cannot be trusted is their lack of regulation.
This broker claims to be owned and operated by Online Cloud Ltd, a company that is registered in Nevis, West Indies address. However, the broker claims – on the same page – that their offices are located in London, UK. But there is no address or registration/license number provided.
The broker also does not bother to provide us with any telephone numbers with which to contact them.
This lack of critical corporate information is a clue to this broker’s dishonesty. A real broker – a legitimate one – would ensure that that there is no ambiguity about who they are, where they are located and how they are regulated.
We still checked the online registers of the relevant financial authorities – the United Kingdom’s Financial Conduct Authority and the Nevis Financial Services Regulatory Commission. We found out that this broker is not registered with the Nevis FSRC at all. That registration number provided is fake. Neither is the broker regulated by the FCA. Their name and their company name are missing in both registers.
This means that CapitalGates is an unregulated, and therefore, illegal, entity. And this makes this broker a 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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Blacklisted by CNMV
Based on the language options provided on their website, we can assume that this broker also targets traders in Spain and Italy. This assumption has proved correct. While we were investigating CapitalGates’ regulation status, we found out that this broker has been blacklisted by the CNMV.
The CNMV is the Spanish financial regulator – the Comisión Nacional del Mercado de Valores. According to the announcement, the regulator has warned all Spanish traders to stay away from this broker as this entity is operating without a license in their territory.
When a regulator of repute such as the CNMV issues a warning against a broker, it is the wisest course of action to heed that warning.
CapitalGates is a scammer and it is wisest to stay away from them.
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No Terms and Conditions
There are no Terms and Conditions on CapitalGates’ website. We checked. The so-called legal documents available are the Trading Policy, the AML, the Cookie Policy, the KYC Policy, the Privacy Policy, the Refund Policy, the Risk Disclosure and the Deposits & Withdrawals.
The Terms & Conditions, also called by other names such as the Client Agreement, Service Agreement, and so on, are the main legal document that details the contract between a trader and that broker. If this is missing, you know that you are dealing with a scammer. And if you choose to do business with a broker that does not have their legal documents in place, then you are leaving yourself open to being scammed. And sadly, in this case, no authority can help you regain your funds either.
Therefore, it is extremely important to read the read legal documents before you commit your funds to a new broker.
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Issues with Trading Platform
This broker promises an intuitive trading platform that is also mobile. The broker goes on to state that their platform can be customized for individual preferences, that there are powerful technical indicators, charting tools and fast trade executions available.
These claims are just more lies by a cheap scammer. What you really get is a web-based trading platform with charts that have been imported from TradingView. There is barely any functionality at all in this so-called trading platform.
When a broker compromises on the quality of their main product – their trading platform, they cannot be trusted.
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Issues with Trading Conditions
We face similar issues with this broker’s service offerings – their trading conditions. They are incomplete and skewed.
First, their minimum deposit requirements are much too high. Industry standards range from $100 to $250, with many more brokers today offering an account opening for less than $50. So, a $5,000 minimum deposit is laughable. Added to that, the leverage offered is much too high – and illegal both in the UK and Europe, which are the regions where this broker operates.
The spreads and other trading conditions are simply missing.
These issues clearly tell us that we are dealing with a scammer.
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Issues with Withdrawal Policy
This broker claims that withdrawals will be process in 4 working days, which is ridiculous, since there are so many brokers that allow for instant withdrawals. Other withdrawal policies are all missing.
Conclusion
CapitalGates is another offshore scammer that cannot be trusted.
CapitalGates
Pros
- None
Cons
- Unregulated Broker
- Blacklisted by CNMV
- No Terms and Conditions
- Issues with Trading Platform
- Issues with Trading Conditions
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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