Updated on February 27, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding CapitalFXclub due to the issues we've identified.
Is CapitalFXclub Scam or Legit Broker? ▲
Trading with CapitalFXclub raises significant concerns about safety and regulation. Despite its claims of being based in the United Kingdom, the absence of an FCA license is a glaring red flag. The ownership of CapitalFXclub falls under Pro Capital, which purportedly offers top-notch services in commodities and Forex trading since its inception in 2013. However, the lack of any form of registration or licensing suggests that it is not safe to trade with CapitalFXclub.
CapitalFXclub presents itself as a broker offering a broad range of commodities and Forex trading opportunities. Nevertheless, the absence of regulatory information casts doubts on its legitimacy. Further compounding the issue, Italy's financial regulator CONSOB has explicitly warned against engaging with CapitalFXclub, citing unauthorized investment activities targeted at the Italian public. The presence of an Italian contact number, despite the broker's supposed London base, indicates a focus on Italian residents, potentially in violation of local regulations.
In light of the findings, it is clear that engaging with CapitalFXclub is not advisable. The broker's lack of regulatory compliance, coupled with a specific warning from Italy's CONSOB, underscores the risks involved. While the offerings of CapitalFXclub might appear tempting, the safety of your investments should always be the paramount consideration. Therefore, we urge traders to opt for brokers that are well-regulated, such as those holding licenses from the FCA in the UK or ASIC in Australia. Lastly, it is worth noting that the CapitalFXclub website is currently inactive, further indicating that the broker may no longer be operating. Nonetheless, traders are advised to remain vigilant and steer clear of any potential dealings with CapitalFXclub.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
CapitalFXclub Review 2024
