Capital FX is a broker from the United Kingdom, founded in 2013. They claim to be one of the most accessible ways to become richer. Apparently, they have some huge statements so let’s see how they plan to fulfil them.
They offer four different account types. At first glance, that looks excellent. But when I took one more look, I realised that you don’t get many things if you choose Standard Account, for example. To be precise, you get nothing. Not even access to all trading platforms features. So, basically, all those account types are there just to seem like they provide so many options. In reality, clients are very limited.
They do have Welcome Bonuses, but they never mentioned whether you can claim it with every account. Currently, the offer is a 30% bonus on the first deposit. So, if you decide to make an account and deposit $5000, they will add 30% more to your account. That said, you will have $6500 at disposal. Not bad, really.
I have to mention the website as well. It is simple but optimised. Everything works smoothly, there are no errors and the load speed is good. It doesn’t matter whether this is the first time you entered the website or not, you will find all information easily.
As I already told, everything looks just right. But the thing is, there are some claims that ended up being false and I’ll explain them in depth.
Platform and Execution SCORE: 90%
The platform they use is a well-known MetaTrader4. There is an option to download it on your computer (Windows and Mac) and mobile phone (Android and Apple) or to use Web Trader. It’s easily customisable and it has a wide variety of languages. So, chances are high you will find your native language.
Although they are not using the latest version, MT4 is still an excellent option and many traders love it. That said, I have nothing more to add when it comes to this part. No negative comments, whatsoever. It’s simple, easy to use and familiar to many people. I would just like to remind you that depending on the account, you will have different platform features.
Withdrawal Speed SCORE: 70%
If you want to deposit or withdraw funds, you can choose to do that using a Credit or Debit card, Bank Transfer, Neteller or Astropay. The withdrawal process is quick. You have to go to the Client Area and enter the desired amount. Once you click Send, they will receive your request and start the withdrawal. The withdrawal process usually doesn’t take long. But in this case, it might. Their working hours are Monday to Tuesday from 09:00 to 16:00 and Friday from 09:00 to 13:30. So, if you want to withdraw funds any other day, you will have to wait.
Once they approve your request, the funds will be on your bank account within 48 hours, depending on the bank. Keep in mind that additional fees may be applied for each transfer.
The minimum amount you can withdraw is $100. As you can see, the withdrawal process is easy, but I do have a problem with their working hours. If you request it on Monday, it will be fast. But if you make a request any other day, you will have to wait.
Support and Assistance SCORE: 30%
Customer support is a very important part for every Forex trader. You never know what could happen, so each client wants to have constant assistance, just in case. That said, I was very pleased when I saw on their landing page, they offer 24/7 Customer Support. The only problem now is that this is a false statement.
Their Customer Support works five days a week and you have to send them an email and wait for the reply. But that’s not the only problem I have. They wrote you can reach out to them with email, phone or using the Live Chat.
Actually, they don’t have a Live Chat plugin on the website. If you want to chat with them, you need to open a Skype account and send them a message there. Aside from that, they never provided any phone number. So, calling them is not an option even though they claimed it is.
Overall, if you need quick assistance you won’t be able to get it. They are not available every day and you will have to wait for an email reply.
Education and Tools SCORE: 30%
When it comes to the education part, they do not offer a lot of things. But the positive side is that they never claimed you will get learning material from them. Obviously, their main focus is far from that, but they do provide everyone with daily news. This is an important part because each trader needs to be informed about everything that’s happening on the market. So, I give them a plus for regular updates.
Aside from that, Capital FX Club doesn’t have a possibility for Demo Account. That said, you cannot practice first. As soon as you register, you need to make a deposit. What they claim to have is a variety of tools (but they never specified more) and help in trade (auto chart programs for confidence in decision making, personal account manager and trade SMS signals).
Unfortunately, that’s everything when it comes to education and tools. I must say that I expected a little bit more. At least some explanation of what tools they provide, but they skipped that part.
The Bottom Line
Capital FX Club looks like an excellent broker when you enter their website. But in reality, they fail to fulfil almost every promise they give. Although they offer some interesting things like Welcome Bonuses, I cannot say they can be a good choice. Those bonuses are here just to camouflage the fact they are not regulated. But even if I set that information aside, there are so many contradictory things on their website, so I have to say you can find much better options out there. No matter whether you are a beginner or a pro.