Do you want to trade with MTcapitals FX? Why MTcapitals.com is not a genuine broker! See complete MTcapitals review to know about this 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 MTcapitals FX?
MTcapitals located at MTcapitals.com is an offshore brokerage company with a lot of promises for forex traders. The company’s office address is based Geneva, Switzerland.
The broker offers different account packages such as Basic, Standard, Silver, Gold and Platinum.
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. More so, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
MTcapitals Minimum Deposit:
MTcapitals deposit is indicated $250 based on the account type. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
On the website, the funding methods are credit cards, PayPal and Skrill, can be seen on the homepage of the website.
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!
MTcapitals withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
MTcapitals platform offers a simple web-based trading platform with basic functionality. However, that cannot be compared to the advanced trading platforms of MT4/MT5. Many scammers have trading software to fool their victims that their money is being invested.
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.
As for MTcapitals leverage, it can get up to 1:400. Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Things You Should Know about MTcapitals.com Forex Broker
First of, MTcapitals.com is based in Switzerland. The broker MTcapitals does not have legal documentation that meets the requirements of financial regulators. A check of the Swiss Financial Market Supervisory Authority (FINMA). database confirms that there is no authorized broker using MTcapitals’s trading name and domain.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
MTcapitals Licensing and Regulation
It is not far from believing that this broker 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
MTcapitals FX located at MTcapitals.com claims to appear like a trustworthy trading broker, however, that cannot be ascertained. By all appearances, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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