Trading Capital FX – Are They a Scam?

Website URL: https://trading-capitalfx.com

Founded: 2022

Regulations: Unregulated

Languages: Russian

Deposit Methods: Unspecified

Minimum Deposit: Unspecified

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Currencies, Raw Materials, Indices, Stocks

Trading Accounts and Conditions

Trading Capital FX claims to offer their clients 5 different accounts types as well as a demo account. However, despite checking their entire website, we could not find any information about these account types – and we also could not access their demo account.

There is also no clear information about the broker’s trading conditions. All they say is that their spreads are low, the leverage is up to 1:1000, you are offered a trade copy service, executions are from 0.1 second, and that you get a 100% deposit bonus.

Trading Capital FX – Advantages

There are no advantages to trading with Trading Capital FX.

Trading Capital FX – Disadvantages

Here are all the signs that tell us that we are dealing with a scammer:

• Unregulated Anonymous Broker

The first and foremost sign that tells us that Trading Capital FX is a scammer is the fact that this broker is more or less anonymous and completely unregulated.

The broker’s website is in Russian; there is no other language option. We were only able to decipher what was on their website using Google Translate.

Now, considering the fact that this broker seems to be targeting Russian customers exclusively, it is rather strange that they have a UK address listed on their website. The broker has also listed their parent company as E-Global Trade & Finance Group.

If a broker is based in the UK, to operate legally, they need to be registered with the country’s financial regulator – the Financial Conduct Authority. We checked the FCA’s online database to see if Trading Capital FX was listed with them. It isn’t. There is no company or broker by these names listed with this authority.

This means that we are dealing with an unregulated broker.

We have also claimed that this broker is actually anonymous. This is because we did find the company name listed with the UK’s companies register (based on the claim on the broker’s website that they were licensed – and had provided a license number).

The license number provided by this broker belongs to a company called Trading Capital FX Ltd, but that company has nothing to do with forex or CFD trading, and that company has been dissolved since May of 2022. Therefore, this broker is not only lying about their regulation status, they have stolen a dead company’s credentials to cover up the fact that they are operating anonymously.

This is clear evidence that Trading Capital FX is a scammer.

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• No Legal Documents

Another reason why we know that this broker is a scammer is that they have no legal documents on their website.

All legitimate brokers are legally required to present all their legal documents on their websites. These documents are the contract between you and them. They are detailed, providing you with every single type of service the broker offers, the conditions of those services and products, policies around deposits, withdrawals, and using their services and so on.

It is important to check the legal documents before signing up with a new broker. Most of us tend not to check the legal documents at all while registering and blindly click on the I Agree tab. This is exactly what scammers count on us doing. Once we have registered with a broker without checking their legal documents, we have given them the right to do what they want with out money.

Thus, we strongly advise all traders to check for legal documents and take the time to read through them before signing up with a new broker. It could save you from being scammed.

• No Trading Software

Trading Capital FX has not specified what type of trading software they offer to their clients. And we were unable to register for an account to check for ourselves. Every time we tried to register with the broker, we kept getting an error message; we could not even see a registration form on their website! There also doesn’t seem to be an option to log into an existing account either.

Because of all the issues we faced, we do not know if this broker actually has a real trading software at all. Based on what we have seen, we can say with a large degree of confidence that this broker doesn’t really have any trading platform.

• Issues with Trading Conditions

We also need to point out that this broker has practically no trading conditions. There is no minimum deposit requirement specified. We also do not know what spreads (cost of trading) are offered. The only thing the broker clearly states is that the leverage ratio they offer goes up as high as 1:1000.

A leverage ratio such as that is extremely dangerous – the trading risk is much too high. Most jurisdictions around the world have placed strict limits on how much leverage brokers can offer, and this figure is far outside that range – even for the Russian market.

• Bonuses Offered

Trading Capital FX offers their clients trading bonuses. We need to warn traders that trading bonuses have been banned in most countries because of the very unfair conditions they come attached with. But since this broker does not even have terms and conditions in place, we do not know what kind of conditions they may have for you to avail of these bonuses.

• No Clear Funding Methods and Policies

As with the rest of their website, we do not know what types of funding methods Trading Capital FX has. We also do not know what the deposit and withdrawal policies are, so we cannot tell you what charges you will bear if you carry out transactions with this broker.

Conclusion

Trading Capital FX is a scammer and thus best avoided.

Trading Capital FX

2.4

User Experience

2.0/10

Payment Options

3.0/10

Security

2.0/10

Support

2.5/10

Reputation

2.6/10

Pros

• None

Cons

• Unregulated Anonymous Broker
• No Legal Documents
• No Trading Software
• Bonuses Offered
• No Clear Funding Methods and Policies