CapitalXP Review Scam Complaint
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CapitalXP is an unregulated offshore broker that offers trading in forex and CFDs. Much of relevant information like the types of accounts for trading, minimum deposit requirement, leverage and most importantly trading costs are not mentioned by the broker on its official website. Surprisingly, the broker doesn’t offer its services to the traders from certain jurisdiction such as USA, Canada, France, Belgium, Iran and North Korea. For more details about this broker and its legitimacy go through the below given review.
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About the CapitalXP:
CapitalXP is a forex and CFD broker owned and operated by Quattro Holding Group which is registered in St Vincent and the Grenadines. Whatever the brokers may claim that doesn’t matter; traders should know that registration in some offshore Caribbean islands have nothing to do with the proper regulation. Moreover, the SVG Financial Services Authority has stated that it “does not issue any license for forex trading or brokerage or binary options trading nor does it regulate, monitor, supervise or license international companies, which engage in such activities“. It is known that CapitalXP is an unregulated broker. The CapitalXP claims to be offering various crypto CFDs such as Ripple, Bitcoin, Litecoin, and Ethereum but those were not available in the demo account provided by the broker.
CapitalXP offers its trading services on the MetaTrader4 trading platform, which is always seen as a positive sign in a broker’s offer. The broker offers a floating spread of 1 pip on EUR/USD which can be seen as a good pricing. Allegedly it can be considered on the lower end of the average for the trading sector. However, this is what you can see in the demo trading environment and there is no guarantee that the spreads are the same on real accounts as well. CapitalXP website when considered doesn’t provide enough details about the trading conditions that the broker is providing. The lack of such information should always be seen as huge negative of a broker, as it shows lack of transparency and commitment.
Is CapitalXP legit or scam?
CapitalXP is a broker that doesn’t have license to provide its services. This means that the broker has no regulatory body over it to watch its functions, which means that trader’s money is at high risk with this broker. Moreover, they didn’t provide any information about its trading conditions which shows it’s a shady broker. Hence, keep your money safe from this broker.