WinCapitalPro is considered an offshore Forex and CFDs broker. WinCapital Pro was recently blacklisted by the Italian financial regulator CONSOB and that is because this broker has been marketing their services to Italian traders without proper authorization. This broker offers 4 different types of trading accounts namely standard, classic, premium and gold. The minimum deposit that WinCapital Pro requires to open their basic account type is $250. Leverage is up to 1:200. As for the pips charged on these accounts, WinCapital Pro claims that each type of account is unique and will either have fixed or floating pips depending on which account you have chosen.
While this broker was recently blacklisted by the Italian financial regulator, we still believe that WinCapital Pro did its best to try wooing traders into their platform. They did it by incorporating a wide variety of trading instruments such as Forex, CFDs and Crypto currency trading instruments. In terms of Forex pairs, WinCapital Pro offers 68 pairs including lots of exotic pairs which include Norwegian Krone, Danish Krone, Swedish Krona, Czech Krona, Hungarian Forint, Polish Zloty, Mexican Peso, Russian Ruble, Turkish Lira, South African Rand, Hong Kong Dollar, Singapore Dollar and Philippine Peso.
With regards to CFDs, this broker offers a variety of stocks, indices, commodities, natural gas, oil, gold, silver, platinum, palladium including Crypto currencies. Crypto currencies include Bitcoin, Ethereum, Litecoin, Monero, Ripple, Zcash, Dash, IOTA and Stellar. Definitely there is no limit to what you can trade on this platform. If they were regulated and were providing assurance that they will not scam traders, definitely many people would choose WinCapital Pro for their trading. But unfortunately, there are many red flags and disadvantages that are associated with this specific broker. It would be a disaster to ignore these red flags.
Now, we also have to praise them based on the generous leverage which they are offering. This is possibly as a result of WinCapital pro not being regulated at this time. Their leverage is 1:200 but European Securities and Markets Authority (ESMA) restricted leverage to 1:30 for all brokers who are operating in the EU. A similar move was pulled by regulators in the US, Japan and South Korea. This basically means that find a broker who can offer 1:200 in any of these jurisdictions is nearly impossible. At the same time, you should keep in mind that if you are trading with high leverage, you are risking your account. You should only take this leverage if you know what you are doing and have significant experience trading with a highly leveraged account. Otherwise, we recommend that you trade with low leverage. Some of the best regulated brokers that can offer you flexible leverage can be found on this page. Sign up and start trading.
Still on leverage, Australia is one of the main regulators where leverage is not restricted yet.Therefore, if you are still attracted with the idea of trading with high leverage, we recommend that you should look for brokers who are regulated by the ASIC. These brokers must be based in Australia and will guarantee you high leverage according to your needs.
In terms of minimum deposit that is being accepted on this broker’s platform, we can say that $250 is acceptable. This is not like $500 or more which some brokers are notoriously asking even when they know that the nature of their operation is dubious. If you ever find a broker who accepts this amount, you can go ahead and sign up because it is generally a reasonable amount. Again, even if you are an experienced trader already, under funding your account will damage your trading account because it will not let you achieve your full potential in that trading account.
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CONSOB has already unleashed their bombshell on this broker. WinCapital pro is owned and operated by a company known as Light Media LTD. This company is based in the Marshal Island. However, you should keep in mind that the broker is still targeting residents of Italy and even EU in general which is illegal because they do not have the authorization to do so. Countries like the US, Japan, Australia among others are the safest for retail Forex traders because they have a strict regulatory framework which protects traders from incurring losses in the hands of unregulated brokers. Even the FCA which regulates brokers in the UK are reliable and if you can find a broker who is regulated either in the UK, Australia, Japan or the US you can be sure that this broker will not involve themselves in dirty games to make you lose your funds. These brokers are highly supervised and cannot afford to have their licenses revoked for offenses related to mishandling their clients.
Trading with a broker who is not regulated has always been associated with getting scammed. It is very risky and if you are not ready to lose $250 or more (depending with the minimum that the broker is accepting), you should only see that you have chosen a good broker who is also properly regulated with the above organizations.
WinCapital pro offers MT4 trading platform to their traders which is a good sign. However, the fact that this platform is offered by a third party could mean something else. The third party in question is known as West Media Group and not Light Media LTD. We do not know why the broker is not offering MT4 platform and instead letting another company to do it for them. Furthermore, the spreads in their demo were unrealistic as a pair like EURUSD attracted a spread of 0.1 pip minus commission. This is actually too good to be true and we are sure that if you actually fund a trading account with WinCapital pro, the story will change completely.
The reason why this broker presents a risk to traders is because of their unregulated status. If you’d like to trade safely, we recommend these brokers.
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