The question and challenge that we will be seeking to solve in this Capital88 review is whether or not one should deal with Capital88 Broker. Are they honest? Do they have a reputation for treating their customers fairly? Have there been any serious complaints brought against them? These are some of the questions that we will be seeking to address here.
First, we will start by summarizing this review with a warning saying do not utilize the services of Capital88 Broker. You can ignore the red flags we present here if you wish to. But ultimately, the game is set in their favor, so you won’t avoid the inevitable. That’s how we see it.
Capital88 is an unlicensed Forex and CFD based broker that supports Cryptocurrencies, open pairs, currency pairs (Forex), and other assets. They advertise themselves as the most innovative trading and investment platform owned by BT Ventures LTD. Their physical address is disclosed as Belite Brezi, Building 3, Sofia, Bulgaria. To get in touch with support, traders can either phone +44 203 807 5460, +54 11 5217 5846, or email [email protected].
There are more than 100s assets available to trade 24/5. These include Crypto, Forex, Stocks, Commodities, and Market Indices. The platform can be utilized on your desktop, mobile phone, or tablet. Although, it does seem as though the entire platform is essentially web-based with no access to meta-trader 4. As much as I appreciate the convenience of a web-based platform, nothing beats trading in MT4.
The cheapest account to hold will require a minimum deposit of $250. While they offer Investors bonus money in their trading accounts, it is very important for you to read the terms and conditions of the broker bonus. In order to withdraw your money after receiving a bonus, you will need to have a trading volume of 60 times the money in your account.
We also see that leverage proportions for Capital88 Broker are 1:400 for the EURUSD pair, and the promised spread is around 3 pips for the same pair.
The tagline or mission statement of this website suggests that the broker is striving to provide an unparalleled Forex investment experience to its users by offering ”world-leading support, cutting edge technology, and the top security standards in the market”. This has not been demonstrated on the platform so far. Those who have used Capital88 broker would definitely tell us what they have found out about the broker. But generally, we do not have confidence in the platform.
Opening its doors in April 2017, It is highly unlikely that this broker has your best interest at heart. We have investigated their background and found some disturbing things about them. The first thing we see here is that they are providing a physical address whose location cannot be established by a simple Google map query. That suggests that this brokerage probably gave us a fake physical address. The reason is quite obvious. They are hiding their location to make them invisible. It’s the most unfortunate thing that a broker seeking to be professional can do to its clients.
Moreover, they know very well that the service which they are offering requires a license. But instead, they have opted to operate without any license to govern their activities.
We have also checked several business registries on the internet and discovered that none of them can say that BT Ventures LTD is an active Forex corporation. This is yet another sign that Capital88 is not a serious investment brokerage to even consider trading with.
Now, we have also noticed that Capital88 is not offering demo trading. In that sense, it would be impossible to test the services of this broker, especially their trading conditions since no trader can ever access their platform without first making a deposit in the stated minimum amount.
Our best advice for you
We have already seen that Capital88 is offering many different kinds of investment instruments. These include Forex, stocks, indices, commodities, and even Cryptocurrencies.
However, we must warn you that if you want to trade Forex or CFD of your choice, you must use a tightly regulated broker. This one is not regulated in their country of operation and would therefore be risky to deal with.
In terms of leverage levels, we think that the maximum that they are offering (1:400) is something that will satisfy the needs of most traders. This is not a problem anymore. The problem is of course more serious than this.
Capital88 is rather a weird broker because they are telling traders to open a mini account with a whopping $250. Before we forget, we must also reinforce that this broker is operating without a license. So it isn’t worth spending money on any account which this broker claims to offer.
In other words, Capital88 wants you to make a deposit so they can steal it. There is no possibility of ever getting your money if you commit such a terrible mistake. Take that to the bank.
If you have anything you want to add, please leave your comments and questions below the article now.