CFXMarket.com is the website of a Forex and CFD trading broker that offers 3 account types as well as the MetaQuotes trading software, which wants you to believe that they are a safe and secure broker. Is Capital Forex Market Legit? Today we will let you know if this trading platform is viable and worth spending the time to understand whether Capital Forex Market will profit you.
Capital Forex Broker is owned by Capital Forex Market (Pte) Ltd., that claims to be located in United Kingdom.
Capital Forex Market is considered not safe, as it is new and not regulated or licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC.
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Capital Forex Market Review
Scam artists will create moving websites to simply lure unsuspecting investors to sign up. Without proper documentation, investors sign up without having a second thought. And this is what scam artists are after, your funds by using enchanting marketing tactics. Capital Forex Market is no different as they claim to be ”ONE OF THE FINEST AND THE MOST SECURE TRADING COMPANY”. By claiming this, they are enticing investors into believing they are reliable and reputable. Is this the case with Capital Forex Market?
The are purporting to offer 3 account types Micro, Basic and Bronze. In order to open the the simplest account type with CFX Market, which is the Micro account, one has to deposit at least $500. CFX Market has not announced any reference spreads on its website but we see that they are offering high leverage levels, reaching 1:1000 on some account types. While we generally consider the availability of such high ratios an advantage, keep in mind that using high leverage in the Forex industry is dangerous.
Is Capital Forex Market Safe?
Scam Expert Advisor reviews brokers for readers across the whole world to know whether they worth your time or not. We use a trust score algorithms to asses risk level. They major criteria we use in grouping a forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.
Capital Forex Market claims to be located in London, United Kingdom but we found out that the company behind the brand, Capital Forex Market (Pte) Ltd., is not authorized by the FCA, which leads us to conclude that the broker does not fall under any regulatory oversight whatsoever.
Trading with unregulated brokers has always been associated with unreasonably high risks of losing your money to scammers. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.
Using an FCA broker for example you will even get an extra protection from a client compensation fund, which basically will insure the first 85 000 GBP in your account even if your broker files for bankruptcy, see here.
Capital Forex Market Scam
In order for us to differentiate between a scam broker and a legitimate one, we look for a verified license.
Capital Forex Market features interesting properties that might capture the eyes of an unsuspecting investor but we are not going to recommend them because of one thing, it does not hold a legit license.
Investors all over the world are protected by their local government from illegitimate business by issuing license and monitoring to all financial services firms.
These organizations require compliance with a number of strict rules that give significant assurance for the security of clients’ funds.
Review Verdict – Capital Forex Market is a Scam!
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If you have done business with Capital Forex Market before, p