Trade Capital is a company that was established back in 2017. Since then, they were able to make quite a few enemies in the world of trading due to their many scamming and fraudulent activities. The company is not being honest with their clients, not to mention regulatory bodies that have the purpose of making the trading experience enjoyable for both clients and the companies.
The company is not regulated, though it lists an address in Switzerland. However, when you look up the address, you will get the location of the Bristol Hotel as a result. This is highly alarming and should be a major red flag for all the clients considering to engage with Trade Capital. After many accusations of misuse made by the clients, Trade Capital is now blacklisted by two of the most reputable regulatory bodies in the world - the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
As you can see, the company is claiming that it is providing services for UK clients. However, that is impossible considering that they do not own a UK licence, which is provided precisely by the FCA. This way, the company is basically committing fraudulent activities and business malpractice. That’s why it is crucial to get your research done in great detail before deciding to put your trust in a certain broker company. That’s why we created this review - so we can give you an honest and reliable look from both sides, so you can make a smart and independent trading decision that you will be proud of.
Platform and Execution SCORE: 23%
The trading platform at Trade Capital is web-based. They are not able to provide their clients with top-notch technologies such as the MT4 platform considering that they are not regulated. This is a huge downside when it comes to the variety of tradeable assets at your disposal, but also the safety of your information and funds. With the web-based platform, you can never be certain about a software that is making the platform function, is it reliable or safe to use etc.
The most horrendous crime that the company has been accused of when it comes to its trading platform is that it is displaying fake news and stolen screenshots from other websites and companies. Of course, you wouldn’t know that solely by visiting the platform, since it doesn’t give away any clues of a scam:
As you can see, the platform is pretty standard when it comes to the outlook. It has every information you could possibly need about the asset of your choosing, including the margin, the leverage and the chart of its market performance. However, digging deeper into this company we actually found out that their platform is not calculating these results for itself. Rather, it is simply copying them from more reliable websites and displaying them as their own.
This is highly damaging to your client experience, not to mention the company’s image. After a severe backlash that the company has endured since this was discovered, they have now introduced a new feature in hopes of mending their reputation - robot trading. This option is supposed to guarantee you success while trading, considering that the software (again, an unknown one) will gather information from the market, analyse them and create a winning trading strategy for you. This option is applicable to all tradeable assets at Trade Capital, including CFDs, stocks, Forex currency pairs and cryptocurrencies.
The robot trading option is also set to guarantee you a steady passive income of around 8-25% each month. This all sounds pretty great, however, we haven’t encountered any clients who were actually able to achieve that.
Withdrawal Speed SCORE: 10%
Trade Capital does not provide a lot of details about the deposit and withdrawal methods, as well as times for processing these requests. The only information that we found was that there is only one initial deposit that you will have to make for trading, but that’s kind of unclear. Since, of course, you will need to have resources each time you trade, right? And with a $250 minimum deposit, it is only a matter of time before the funds run out. So, the one-time payment they are promising does not really make sense.
We also tried researching this section within their Terms & Conditions page. Unfortunately, we only got to see the PDF document written in Russian, with no way of translating it to another language such as English. So, another dead end for this part. Based on the assets that you can trade with on the platform which include Bitcoin, Ethereum and several other crypto names, we can only assume that the e-wallet is applicable as a payment option. However, we cannot guarantee this since there is no way of confirming it.
Support and Assistance SCORE: 16%
The customer support team is only available for registered clients. So, if you wish to find out more about the platform directly from the agents, you will need to sign up for an account first. This is quite suspicious and seems unnecessary, since there are other ways to find out more about the company, such as this review. And based on the information we found online, you should steer clear of this company.
The only available way to contact them is through the provided phone number based somewhere in the UK. However, considering that the company lists its base in Switzerland, it is unclear to us what is the truth when it comes to the way to contact them. Also, there is a standard e-mail address for Trade Capital where you can try sending your queries, but the response is usually delayed up to several business days.
Also, if you check out the section called “Support” on their website, you will notice that they are only mentioning it in the form of support provided for their partners in terms of additional training and knowledge. However, there is no mention of the actual support for the clients.
Education and Tools SCORE: 29%
Overall, we were pretty disappointed to see that there is not a lot of educational tools at our disposal as clients. We could only find a few testimonies from the people who supposedly traded with Trade Capital at some point. Though we have to admit that they look more like hired actors and models rather than genuine people.
In these videos, they talk extensively about how this company has changed their lives for the better by providing them with a steady income. However, nothing is guaranteed in trading. Therefore, we are reluctant to take these videos seriously.
Aside from the videos, there aren’t any other educational tools such as eBooks, market news or analysis of any kind. You will basically have to find another source of knowledge and guidance if you wish to trade here because Trade Capital was not able to make enough effort in this area.