CapTradeOptions – Are They Trustworthy?

Website URL: https://captradeoptions.com

Founded: 2020

Regulations: Unregulated

Languages: English, Simplified Chinese, Danish, French, German, Italian, Japanese, Korean, Portuguese, Spanish, Russian, Thai, Swedish, Turkish

Deposit Methods: Bitcoin, Skrill, PayPal, Ethereum

Minimum Deposit: $100

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Foreign Currencies, Crypto Currencies, Stocks, Options

Trading Accounts and Conditions

There seem to be two account types that CapTradeOptions offer: Standard and VIP. The minimum deposit requirement for the Standard account is $100, while for the VIP account, you need to make a deposit of at least $1,000.

There is no information given with regard to the trading conditions. So, we do not know what the leverage ratios, the margin requirements or even the spreads are.

CapTradeOptions – Advantages

CapTradeOptions does not offer any advantages to traders. It is best not to trade with them.

CapTradeOptions – Disadvantages

Here are the numerous reasons why CapTradeOptions is not a good bet:

• Unregulated Clone Firm

CapTradeOptions claims that it is regulated by multiple authorities – the CySEC (Cyprus Securities and Exchange Commission) of Cyprus, the FCA (Financial Conduct Authority) of the UK and the ASIC (Australian Securities and Investment Commission) of Australia.

The broker has tried to make its claims look valid by providing registration and license numbers, however, when we cross-checked those details, we found out that they belong to another forex broker – one that is actually regulated and above-board – called eToro.

This clearly shows us that CapTradeOptions is actually a clone firm – a scammer that uses another company’s details and passes them off as its own in an attempt to appear authentic. The truth of the matter is that this brokerage is offering its services illegally which is a serious financial crime.

The funny thing is that this broker hasn’t even done a good job of cloning eToro. The broker has simply replaced eToro’s name with its own – but not thoroughly. For example, when you read the section about the types of financial products offered by the broker, you will clearly see that CapTradeOptions has forgotten to replace eToro’s name!

This broker clearly is a scammer; it is unregulated, operating more or less anonymously and as a clone firm. This is the kind of brokerage that we warn all our readers against and if you invest with them, you are sure to lose your money.

While looking for a broker with which to trade, it is best to do business with one that is regulated by a strong financial authority – such as the CySEC or the FCA. You are afforded protection against scams and broker losses, something that you will not get with broker like CapTradeOptions.

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• Non-Functional Trading Software

The cloning continues with this broker’s trading software. Instead of offering a reputed trading platform such as the MetaTrader 4 or MetaTrader 5 software, this broker has tried to replicate eToro’s platform – and failed miserably at it.

The trading platform offered by this broker doesn’t even work. When we accessed it and tried to carry out a trade, we found we were unable to do so. The only thing that you can do on CapTradeOptions’ platform is deposit money.

• Using Trading Agents

The only way that you will be able to execute trades with CapTradeOptions is by getting in touch with a trading agent. This agent is the person who will make the trades on your behalf.

This is clear conflict of interest because brokers are market makers. This means that they will make money when you lose money on your trades. Therefore, if you use this trading agent offered by this broker, the chances of you making any kind of a profit are non-existent.

• No Trading Conditions Given

The only mention of the account types offered by this broker are on its main page, where it states the minimum deposits of $100 and $1,000. Beyond that, CapTradeOptions has not provided any other information about the trading conditions.

Since the broker is using a dummy platform, there is no information there about these conditions either. Therefore, if you trade with them, you will be doing so blindly, not knowing what the leverages, margins or even spreads are.

• Lies About Payment Options

CapTradeOptions claims on its website that it offers the following payment options: Bitcoin, Ethereum, Skrill, PayPal, Visa, and MasterCard. However, when we checked the payments page, we found that the only way to make transfer was via Bitcoin.

This is yet another indication that this broker is a scammer. Bitcoin transactions are permanent and anonymous; there is no way that you can reverse a transaction such as this. Which means that once your money is gone, you can never get it back. Which is why scammers are now turning to crypto-payment options.

We suspect that this broker does offer other payment options – ones that it hasn’t advertised on its website. We say this because we have found out that some of their agents are operating on Instagram, where they are showing fake MetaTrader 4 mobile snapshots of trades with winning outcomes. This is yet another way the broker is targeting unsuspecting novice traders.

• Referral Program Offered

While CapTradeOptions does not offer any bonuses or other promotions, it does offer a referral program. So, for every friend of yours that you refer to this broker, you will be offered amazing top ups. However, the broker once again is purposely vague about the rewards that you can get if you do refer other traders.

This is just another tactic to get more people to invest their hard-earned money with CapTradeOptions.

Conclusion 

CapTradeOptions is a clear-cut scammer. It has lied about pretty much everything on its website. It has fake registration and licensing details, it is more or less anonymous, its trading software doesn’t work, and so on.

This is definitely not a broker you should have anything to do with.

CapTradeOptions

2.4

User Experience

3.3/10

Payment Options

2.2/10

Security

2.3/10

Support

2.2/10

Reputation

2.1/10

Pros

• None

Cons

• Unregulated Clone Firm
• Non-Functional Trading Software
• Using Trading Agents
• No Trading Conditions Given
• Lies About Payment Options