The financial market is a very large and popular place. People trade 24/7 from all over the world and for many this is a great opportunity for some additional income. However not every brokerage company will follow the rules. There are a lot of scammers who will just disappear after taking the money which leaves clients in a desperate state.
If you think of investing with this broker you will probably end up in a similar situation. Read the full article and learn how to avoid scammers. In this detailed Capital Forex Live review, we will be raising some serious red flags about this company.
Capital Forex Live is a Forex based international investment and trading company. They are based in London, UK. Besides the address and the registration numbers of the company, that is the only corporate information that is visible on the website. There is no information on the owner or foundation year.
The links for the Terms and Conditions section as well as the links for Privacy Policy are not working. By clicking on those you will be returned to the top of the page. This is a clear sign that something is not right, clients don’t know the terms of the deal and they don’t have clear information on who they are dealing with. Not too trustworthy.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | capitalforex.live |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | United Kingdom |
| Foundation year: | N/A |
| Supported Platforms: | MT5 |
| Minimum Deposit: | $20 |
| Cryptocurrencies: | No |
| Types of Assets: | Forex |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
Is Capital Forex Live a Secure And Regulated Platform?
On their website, there is a claim that says that Capital Forex Live broker is licensed by “CAC Nigeria”. CAC stands for The Corporate Affairs Commission whose main job is to regulate the formation and management of companies in Nigeria. Why would a UK based company be licensed by a Nigeria based corporation? Red flags everywhere.
Besides, the financial regulator in Africa is called SEC (Securities and Exchange Commission) and it does not impose any regulations on brokers. So to answer the question – no. The Capital Forex Live is not a regulated corporation. Your funds are not safe and you should, by all means, avoid this broker.
Capital Forex Live is a UK based trading company. The broker is not regulated. It doesn’t offer a reliable trading platform. The withdrawal fees are high, even if the minimum deposit is only $20.
How Unsafe Is An Unlicensed Broker?
License is what makes client’s money segregated from company’s money. This is just one of many protective measures companies take. Let’s take a closer look at the Financial Conduct Authority. FCA regulates the financial services industry in the United Kingdom.
A company that is regulated by the FCA must provide clients with negative balance protection, they also must participate in a fund that can cover up to 85,000 GBP if the company goes bankrupt. On the other hand if the broker is not working under reliable regulation there is a big chance that you will end up as a victim of a fraud, since there is no one who can overlook the transactions. Capital Forex Live broker has no FCA, nor ASIC, nor BaFin approval, yet they claim that they have fake Nigerian based regulation. Don’t fall for this one, it is too obvious.
Furthermore, we strongly urge you to stay away fromDGTL Trade,BullCFDs,andAmplixxfake brokers.
Capital Forex Live Trade Offers MetaTrader 5 Platform – Is This True?
After registering an account with Capital Forex Live you will see a “personal trading chart” on your dashboard, a chart with the price of BTC that has no trading function. There is no information on the website about the trading platform. The only thing you’re getting is a link for the software download. The software is available for Desktop, iOS, and Android devices. After the installation is done you will see the MetaTrader 5 (MT5).
But there is a catch and it’s not a good one. The broker is not providing credentials for logging into a trading server. You might think that a demo account option will be available, guess again. That option is disabled, basically, you’re downloading non-functional software. What a delight! Capital Forex Live again offers nothing and not only in terms of a trading platform.
All About Capital Forex Live – A Bit About Accounts and Withdrawal Fees
There are three types of accounts with Capital Forex Live company:
- Starter
- Premium
- Professional
Each account type has different entry fees. The minimum amount for deposit is $20. Don’t let this trick you because even if the deposit amount is low the fees for a withdrawal are high.
You will be unable to send a withdrawal request until you pay alleged bank taxes. This is just one of the ways that company is using to keep your money away from you.
What Payment Methods Does The Broker Accept?
Before you register an account everything is possible, the range of payment methods is wide,credit cards, cryptocurrencies, and e-wallets, you name it, they will provide. But is that really true? After registering an account the only way to deposit is through cryptocurrencies.
Why is this alarming? These transactions are much harder to trace and this is very convenient for the scamming brokers. Don’t be a victim of Capital Forex Live trading.
Capital Forex Live Broker – Countries Of Service
The firm trading broker is operating with clients from:
- United States
- France
- India
- United Arab Emirates
Also, remember the names of the trading fraudsCFD Capital,DakkenGroup,andZuluTradetrading scams and avoid them at all costs! Furthermore, before investing, always check the background of internet trading organizations!
Scammed by Capital Forex Live Broker? – Let Us Hear Your Story
The worst has already happened. Your money went missing and Capital Forex Live is not responding to your calls or emails. We are sorry to hear that, unfortunately, situations like these happen just too often. But there is something you can do – reach out to us. We can help you to get your money back.
But What Is A Chargeback?
Get in touch with one of our representatives today. Click on the registration button below. We know how these situations can be stressful so please don’t hesitate. It is completely free.