CapproFX Review Scam Complaint
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CapproFX is an offshore broker for trading in Forex and commodities which offer its clients to choose from two of the listed account types. CapproFX having its offices in London, Hong Kong and India provide commission free trading but is limited to only forex and precious metals. Although CapproFX is an unregulated forex and commodity broker company that supports MT4 platform.
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About the CapproFX:
CapproFX as a forex and a Contract for Difference broker company with its leveraging trading conditions like free trading ,giving leverage up to 1:1000 .The trading platform that CapproFX provides is MetaTrader 4 platform which provides Forex trading along with analyzing financial markets for enhancing Forex trading experience. The two type of accounts available in CapproFX are the ECN trader account and the Pro trader wherein the former presents more trade instruments and the latter is restricted only to forex pairs and precious metals. There is no rollover interest charged from the investors on overnight positions as they are swap free accounts.
The minimum deposit that is needed initially is quite small with its average spread offered just within the range of 1.0 to 1.5 pips for the EUR,USD pairs with 48 other currency pairs. However the amount of leverage level appears to be a bit high for a company like CapproFX having an acceptable risk management strategy. Like other brokers, it supports MT4 platform, also offering its desktop and mobile version as well. CapproFX carry out a lot of promotions to leverage the investors with bonus extending from as 10% to 100 % but the clients also need to meet some criteria of trading volume requirements for them to continue .The payment can be made through bank wire transfers and also through bank debit/credit cards as well as through digital payments like Skill and Paypal. The broker company claims to offer protection of investor’s Fund through its Financial Service compensation schemes however, after cross checking its authenticity in the FCA register seems like a false claim.
Is CapproFX legit or scam?
just like some other broker companies which provide mouthwatering doubtful
leverages and attractive trading sets to the investors is just an unregulated
broker company and cannot be recommended to trade with. Most of the reviews of
the users are plain negative and they found trading with this broker to be
risky .It seems to be a scam broker and we advice the traders to avoid
unregulated brokers and seems like the broker have a clear agenda of polishing
off the investors money.