W2W Capital – Are They Trustworhty?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
W2W Capital - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2022
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://w2wcapital.com
Founded: 2022
Regulations: None
Languages: Spanish
Deposit Methods: Visa, MasterCard, SEPA, Wire Transfer, Bitcoin, Ethereum
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: 250+
Types of Assets: Forex, Commodities, Indexes
Trading Accounts and Conditions
W2WCapital offers their clients the following trading accounts:
- Classical: The minimum deposit amount is $250. The spreads start at 1.7 pips and the maximum leverage is 1:33.
- Advanced: The minimum deposit amount is $10,000. The spreads start at 1.4 pips and the maximum leverage is 1:100.
- Pro: The minimum deposit amount is $25,000. The spreads start at 1 pip and the maximum leverage is 1:300.
- VIP: The minimum deposit amount is $100,000. The spreads start at 0.7 pips and the maximum leverage is 1:500.
- Elite: The minimum deposit amount is $500,000. The spreads start at 0.5 pips and the maximum leverage is 1:500.
On the main homepage, the broker states that the platform is web-based, but in their Accounts section, W2WCapital states that they offer the MT4 platform.
W2WCapital – Advantages
There are no advantages to trading with W2WCapital.
W2WCapital – Disadvantages
Given below are all the reasons why we have marked W2WCapital a scammer:
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Regulation Issues
W2WCapital claims that they are owned and operated by W2W Capital LLC, which is registered in St. Vincent and the Grenadines (SVG). The broker states that their registration number is 1846 LLC 2022. The address provided also is based in SVG. However, there is no telephone number or email address given.
The first issue with have with the information that W2WCapital has provided is that it is incomplete. Legitimate brokers are completely transparent in providing as much corporate information as possible. They provide details of their physical addresses, email, contact numbers, license and registration numbers and so on. With broker, we have just about a single address and a registration number, that’s it.
The problem with the registration number provided is that even if a broker is registered with the SVG FSA (Financial Services Authority), it doesn’t make much of a difference since this authority has clearly stated that they do not regulate forex and CFD brokers. Therefore, to operate legally, a broker would need to be registered with another valid authority. Which W2WCapital isn’t.
Thus, based on the information that we have on hand, we can confidently state that W2WCapital is not regulated in any way and is operating illegally, which 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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Issues with Legal Documents
Another reason why we have marked W2WCapital a scammer is their lack of proper legal documentation. Legal documents are the contract between the customer and the broker. They detail the services the broker offers and the terms on which those services are offered. So, when a trader signs up with a broker, they know what to expect in terms of the trading conditions, the policies around deposits, withdrawals, actual trading, complaints, dealing with issues with the broker and so on.
This is why legal documents are so lengthy; they detail every aspect of the broker and their relationship with their client. If a trader signs up with a broker without these documents being place or being complete, then they are allowing the broker to scam them.
And that is why we strongly advise all traders to take the time to go through the legal documents before they sign up with a new broker. It will tell you whether you can trust that broker and whether you are going to be treated fairly by the broker or not.
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Unable to Access Trading Software
W2WCapital claims to offer their customers the use of the MetaTrader 4 software. If this were true, it would be a huge win for the broker. However, despite registering for an account, we were unable to access the client terminal to check for ourselves whether this broker actually does offer their clients the MT4 software.
Having said that, we do have our doubts about whether this broker does have the MT4 software. This is because on their home page, W2WCapital states that the type of trading platform they have is a web-based platform, and they do not bother to specify which one. Considering how goof the MT4 platform is, brokers go out of their way to advertise the availability of this platform on their website. This broker, on the other hand, is rather reticent in publicizing which platform they offer their clients.
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Suspicious Trading Conditions
Since we could not access this broker’s trading platform, we will have to base our assessment of their trading conditions on what is presented on their website.
Let us start with the deposit requirements. A minimum deposit of $250 is on the higher side, especially when there are so many reputed brokers who invite you to open an account with them for less than $50. And while this broker offers multiple trading accounts, the minimum deposits for them are so high that most traders would not be able to afford anything but the basic account.
Next, the spreads are also on the higher side, especially for the basic account. A spread that starts at 1.7 pips is much too high, especially since the market average ranges from 0.5 pips to 1.5pips. High spreads make trading expensive for the trader, and are therefore a disadvantage.
And then the leverages. A 1:500 leverage is dangerously high as well as being illegal, especially since you consider the fact that this broker seems to be target Spanish customers, which would make this broker fall under the purview of the EU, where leverages cannot cross more than 1:30.
All in all, such trading conditions are unfavorable. So, even if this broker had been regulated and not a scammer, we would not have recommended W2WCapital to traders.
Conclusion
W2WCapital is a scammer that is best avoided.
W2W Capital
Pros
- None
Cons
- No Regulation
- Issues with Legal Documents
- Unable to Access Trading Software
- Suspicious 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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