Capital88 Review Scam Complaint

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Overview:

Capital88 is a forex and CFD broker that is based offshore. The broker offers a variety of currency pairs, indices, stocks and CFDs on commodities. Capital88 is owned and operated by a Bulgaria based company BT Ventures Ltd. The contact address given in the contact details of the company is in Tallinn, Estonia. Despite of being based and addressed in EU, the broker and it owner company is not registered with any of the financial regulatory.

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About the Capital88:

Capital88 is an unregulated offshore broker that offers six different types of trading accounts. Those accounts are Basic, Bronze, Silver, Gold, platinum and Black Account. Capital88 offers mostly all major and minor forex pairs along with exotic currencies. The broker’s offerings also include CFDs on precious metals, like gold and silver, energy commodities like natural gas and oil, all major indices and a variety of stocks but no crypto coins. One can deposit money in their account at Capital88 with all major credit or debit cards like VISA and MasterCard, bank wire and a selection of e-wallets, including Giropay, Neteller, Sofort Banking and Paysafecard. The minimum deposit requirement for starting trading with this broker is $250 with the basic account.

The requirement of deposit for one of the premium accounts with this broker is much more, starting from $2000 for a Bronze Account up to $25000 for a Platinum Account and even a bigger unspecified amount for a Black Account, but for this account you will be required to get a special invitation from the broker. On the broker’s website when you see in the Terms and Condition section you can see that in order to withdraw funds from the accounts, if agreed to receive a bonus from the broker, one will have to reach a trading volume equal to 30 times the bonus plus their initial deposit. 

Is Capital88 legit or scam?

Capital88 is an offshore unregulated broker whose trading conditions for trading were also not mentioned on its website. The broker is a shady broker as it has not mentioned the cost of trading for its clients. The company is based and addressed in Bulgaria and Estonia, both these are EU countries. EU countries require all the financial services providers to be licensed by the respective financial authorities in their territory. This Capital88 broker is not registered with any of the financial authority and could be a scam.

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