Heard of Escapitals.com trading platform? Read EsCapitals reviews to know about this forex broker and why you should not fall for their unregulated trading platform.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is EsCapitals?
EsCapitals is an offshore brokerage with a lot of promises for forex traders. The forex company promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
First thing first, EsCapitals com has not revealed any contact information about itself or its alleged registration address. The absence of any credible data about this company’s identity is quite worrisome to be honest, as we don’t actually know who stays behind it.
Obviously, the Spanish financial regulator CNMV explicitly warns that EsCapitals is an unauthorized entity providing financial services.
It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
EsCapitals Minimum Deposit
EsCapitals enforces €250 minimum deposit. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
EsCapitals Payment Methods
EsCapitals accepts payment via Credit/Debit cards and Wire transfers. When selecting the first option, we get a message that the website support will contact us, and the second option transfers us to obscure payment processors such as fxpaymentservices.com.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
EsCapitals offers web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
EsCapitals falls short in this regard, as they only mention that traders should be aware that additional fees and restrictions may apply. Again, requirements for withdrawal are vague as the broker asserts that if the account has received a bonus, it will only be able to withdraw funds once it has met the minimum traded volume requirements.
EsCapitals Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Escapitals.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
EsCapitals appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Please share with us your experience in the comment section below. Thank you!