CapitalOneMarket – Are They a Scam?

Website URL: https://capitalonemarket.com

Founded: 2020

Regulations: Unlicensed

Languages: English

Deposit Methods: Wire Transfer, Debit Card, Credit Card, AliPay, OkPay

Minimum Deposit: $250

Free Demo Account: Not Available

Number of Assets: Unknown

Types of Assets: Forex, Crypto Coins, CFDs (Shares, Government Bonds, Stock Indices, Commodities, Precious Metals)

Trading Accounts and Conditions

CapitalOneMarket offers you the following types of trading accounts:

• ­Mini Account: The deposit amount is from $250 to $5,000. The broker charges a 1.5% commission on all trades, leverage is up to 1:100.
• Standard Account: The deposit amount is from $5,000 to $25,000. The leverage is up to 1:200.
• Bronze Account: The deposit amount is from $25,000 to $50,000. The leverage is up to 1:350.
• Silver Account: The deposit amount is from $50,000 to $100,000. The leverage is up to 1:500.
• Gold Account: The deposit amount is from $100,000 to $250,000. The leverage is up to 1:750.
• Platinum Account: The deposit range is from $250,000 to $500,000. The leverage is up to 1:1000.
• Black Account: The deposit range starts from $500,000. Leverage is up to 1:1000.
• VIP Account: You can open this type of account by invitation only. The leverage is up to 1:1000.

The EURUSD pair’s spread is at 2 pips on this broker’s platform, however, we cannot say for certain that this is a true spread since CapitalOneMarket’s platform is fraudulent.

CapitalOneMarket – Advantages

We could find any advantages that we could list when we reviewed this broker.

CapitalOneMarket – Disadvantages

Here we have listed all the disadvantages we found with CapitalOneMarket:

• Unregulated Broker

CapitalOneMarket states on its website that it is owned and operated by Capital One Market Limited, a company that it claims is based in London, England. The broker also claims that it is regulated by the CySEC (Cyprus Securities and Exchange Commission) and by the European Union.

Now, there are multiple things wrong with these claims. First, if a broker is located in London, then it needs to be regulated by the UK’s Financial Conduct Authority – otherwise it cannot operate out of that country. We checked the FCA’s online register; there is no company by the that name listed there.

Second, we checked the online register of the CySEC, and came up blank too. There is no company or brokerage by the name of Capital One Market listed on that authority’s register either. So, that’s another lie.

We also checked a couple of the online registers of EU member nations – the Italian CONSOB, the Spanish CNMV – but once again, we came up with nothing.

All of this simply proves that this broker has lied about its regulatory status, which is the first sign of a scam.

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• False Claims About Its Customer Base

Another lie that this broker has told is that it has a customer base of more than 14 million traders. The broker goes on to state that for more than half of these 14 million traders, CapitalOneMarket is their primary income source! These claims are simply lies meant to attract unwary novice traders into their trap.

No trader can claim that a single brokerage gives them their income. This is because of the very nature of the forex market – it is speculative, risk-ridden and people are more prone to losing money than making money on the market. In fact, more than 80% of traders end up with losses rather than gains when they trade in this market. And this is something that regulated brokers are law-bound to publicize on their websites.

• Issues with Withdrawals

Another massive red flag that tells us that this broker is a scammer is the time-frame around withdrawals – and the fine print of the withdrawal policy in the broker’s legal documents.

For the Basic account, it can take up to 14 business days before your withdrawal request will be processed. The Standard account takes 7 business days, the Bronze account takes 5 business days, the Silver and Gold accounts take up to 3 business days. Firstly, these timelines are ridiculously long compared to the instant withdrawals that numerous regulated brokers offer.

In the withdrawal policy, then the broker states that it actually will not commit to a timeline to process your request. What this means is that they can sit on your money indefinitely and there is nothing you can do about it – because it there in their terms and conditions!

Added to that, if you accept their bonus, then you will need to trade a volume that is 30 times your deposit and bonus amount before your withdrawal request will be accepted. Basically, you will never get to see your money again!

• Extremely High Leverage

The maximum leverage that you can get from this broker is 1:1000, which is ridiculously high and risky in the extreme. Such leverage can render traders bankrupt, which is why authorities have imposed limits on how much leverage can be used. Thus, in the UK, EU and Australia, leverage ratios cannot be more than 1:30. Canada and the US allow slightly higher leverage ratios at 1:50.

Thus, this 1:1000 ratio is illegal – something only a scam would offer.

• Lies About Trading Platform

CapitalOneMarket claims that it offers its clients the MT4 and MT5 trading platforms. These are the top two trading platforms in the world today, and they offer a range of features that make trading so much easier.

If this broker actually did offer these two platforms, it would have been a huge advantage. The reality is that what traders actually get here is a basic web-based trading platform that doesn’t really do anything.

Conclusion

Even though this broker has put in some effort to present traders with a really nice-looking website, at the end of the day, CapitalOneMarket is a scammer. Everything about this broker’s website is designed to fool people into investing their money with them. We strongly advise all traders to keep away from this broker.

CapitalOneMarket

2.2

User Experience

2.2/10

Payment Options

2.5/10

Security

2.0/10

Support

2.0/10

Reputation

2.2/10

Pros

• None

Cons

• Unregulated Broker
• False Claims About Its Customer Base
• Issues with Withdrawals
• Extremely High Leverage
• Lies About Trading Platform