Excaptal – Can You Trust Them?

Website URL: https://excaptal.com, https://extrendcapfx.com

Founded: 2021

Regulations: None

Languages: English, Chinese

Deposit Methods: Unspecified

Minimum Deposit: Unspecified

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Forex, Metals/Commodities, Indices, CFDs

Trading Accounts and Conditions

Excaptal does not give us any details about the types of trading accounts they offer – if any. The only thing that the broker states on their website with regard to their trading accounts is that they offer personalized account types that are designed to boost traders’ profits.

Added to this, there are no trading conditions mentioned anywhere on this broker’s website.

Excaptal – Advantages

There are no advantages to trading with Excaptal.

Excaptal – Disadvantages

Listed here are all the reasons why we have tagged Excaptal a scammer and why we strongly advise all traders from doing business with them:

• Complete Lack of Regulation, Clone Firm

The first sign of this broker’s scam is their lack of regulation.

Legitimate brokers clearly publish detailed information about their corporate identity and regulation status on their website. They also provide proof of their regulation status so that if customers wish to verify their legitimacy they may easily do so.

Now, Excaptal claims that their parent company is named Extrend Cap International Pty Ltd. The broker also claims that this company is incorporated in Australia.

We checked the Australian company registers. There is, in fact, a company by the name of Extrend Cap International Pty Ltd listed with the Australian authority. However, it is not a forex broker is any shape or form.

Another problem is that the company registries in Australia do not provide information on the registered companies’ domain names. And this is the loophole that scammers such as Excaptal use to clone the details of a legitimate firm and pass them off as their own.

This broker does not even bother to provide us with any contact information. So, besides the little snippet that they are based in Australia, we have no address, phone number or any other corporate information about Excaptal.

And, of course, there is no other mention of Excaptal’s regulation status anywhere on their website.

Thus, we can only conclude that we are dealing not only with an unregulated broker, we are also dealing with an anonymous clone firm. All of this means that Excaptal is a scammer.

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• Multiple Domains

Another indication of Excaptal’s dishonesty is the fact that this broker has two different domains: www.excaptal.com and www.extrendcapfx.com. Both these domains are identical, which leads us to believe that we are not just dealing with a simple scammer; we are dealing with a serial scammer.

Such scammers are professionals who open multiple domains in a bid to scam as many people as possible before they are found out and closed down.

• Issues with Trading Platform

On their website, Excaptal claims to offer their clients the use of the MetaTrader 5 software. In fact, they have one entire web page devoted to this claim.

Had this been true, then it would have been a big win for this broker, since the MT5 software is currently the best trading platform in the world.

However, Excaptal does not provide us with any login details; there is no way to access the MT5 platform that this broker claims to provide. And because of the lack of any login credentials, we were unable to access the platform provided by Excpatal – not even the demo one.

However, considering the fact that this broker has not even provided us with basic information such as trading conditions (more about that later), we are inclined to believe that this broker does not actually have a working trading platform.

• Issues with Trading Conditions and Account Types

There are two things that any broker offers: a trading platform and trading conditions. Legitimate brokers ensure that they offer their clients the best possible trading platform in the market (i.e., the MetaTrader 5 software) and they offer them advantageous trading conditions.

Brokers usually offer their clients a range of trading accounts from which to choose, and each of these accounts has a set of trading conditions attached to them.

A clear sign of a scam is the lack of information about a broker’s account types and trading conditions. And this is what we see with Excaptal. There is absolutely zero information about the types of accounts they have on offer, and nothing about their trading conditions either.

• Legal Documents Missing

Legitimate brokers are required by law to present detailed legal documents which detail the terms and conditions under which they operate and offer their services.

These documents tell you what you can expect from your broker – trading conditions, payment conditions, withdrawal and deposit policies, policies around using their services, etc. – all of these things are listed there.

If you sign up with a broker that does not have these documents in place, then you are leaving yourself open to being scammed. And this is where you will not be able to get any help from the authorities.

This is the reason why we encourage all traders to read through all the legal documents carefully. This way, you can protect yourself from being scammed.

• No Information on Payments

Excaptal has no information on payments. The broker states on their homepage that they have multiple payment methods on offer. However, once again, the broker does not specify what these payment methods are. And since we were unable to open an account or even access their client area, we have no idea what payment options are available to you.

We also have no information on the withdrawal policy this broker has, so we cannot tell you if you have to pay any fees, how long to withdrawal requests take to be processed and so on.

Conclusion

Excaptal is a scammer and trusting them with your money would be a bad idea.

Excaptal

2.4

User Experience

2.5/10

Payment Options

2.0/10

Security

2.8/10

Support

2.0/10

Reputation

2.6/10

Pros

• None

Cons

• Complete Lack of Regulation, Clone Firm
• Multiple Domains
• Issues with Trading Platform
• Issues with Trading Conditions and Account Types
• Legal Documents Missing