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A deceitful broker, our Capital Whale review exposes why trading with capital-whale.com is a waste of time. Those who have invested with the broker are now crying foul. Here’s what we found out in our detailed capital-whale.com review.
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Capital Whale is a classic broker with all the drama and none of the results. You would expect what seems like a well-groomed website to offer much in terms of accountability. Unfortunately, there’s no ounce of transparency within capital-whale.com.
The broker claims to offer direct access to bank liquidity. Other features and services the broker claims to offer to include the best prices and access to interbank aggregators. All these are false claims the broker fails to meet.
Hundreds of members have lodged complaints against the broker. These claims center on the broker’s inability to offer much in terms of positive results. No one has made any withdrawals for the past few days.
And this has raised alarms amongst traders as the broker fails to offer much in terms of why. The broker is not available for comment and ignores all emails sent by members. And this is why we have to expose the platform.
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Apart from blocking withdrawals, the available trading features are not all that exciting. We have a broker that promises heaven and delivers hell. No one can profit from this broker, as there’s no proof.
Before you engage with any broker, we recommend doing due diligence. First, find out from the trading community whether the broker is genuine. Then, get to validate their compliance and results based on facts.
We have a custom-made trading platform with nine timeframes. The timeframes are way fewer than you would expect with world-class trading platforms. With MT4 or MT5, expect to see 21 timeframes.
The broker promises advanced trading functions, and it’s not the case. There are 50 technical indicators and one-click trading. You also get 24 analytical objects and several interactive charts. However, as far as accurate signals go, the broker is nowhere near accurate.
It’s also a web-based trading platform, posing serious doubt about its stability. Members have been complaining of slow executions and a lack of clear instruments. In addition, you must constantly refresh the asset’s page to get the complete data.
The programmed analytical tools are another issue members have to contend with. You can’t rely on these tools as the broker uses them to access your data. An excellent example is AeroAdmin which gives access to computers from any location.
No, you won’t be able to profit with capital whale, as members can attest to it. No one has come forward with actual proof of trading and withdrawing funds. The biggest obstacle you will face with this broker is withdrawals.
After signing up, the broker’s web platform acts more as a demo account. Remember, the broker has backend access to all accounts. You can trade or let the personal account manager trade on your behalf.
When the time comes to withdraw funds, the broker takes over. You get blocked from accessing funds, even the principal amount. That’s why we are adamant the broker doesn’t have your interest at heart.
There are five accounts to choose from, and each account promises a different set of features. Here’s a closer look at each account;
Bronze
With an acceptable minimum deposit of €5,000, the broker claims this is the right fit for beginners. Leverage is 1:20, with members enjoying standard spreads and swaps.
Silver
You have to deposit €25,000 to get started with this account. Leverage starts at 1:50 with limited access to selected markets.
Gold
There’s a minimum required deposit of €100,000. Leverage starts at 1:100, with members enjoying medium spreads and swaps.
Platinum
Members have to deposit €250,000 to get started. Leverage starts at 1:200 with a promise of a personal investment plan and a bonus of 75 percent.
Whale
It’s the most exclusive account, with investors having to deposit €500,000. However, the broker targets institutional clients as well. There’s a minimum GUARANTEED ROI of 15 percent.
The broker promises bonuses to gold, platinum, and whale account users. These are incredibly high bonuses. However, the broker also guarantees ROI for the three mentioned accounts. And that’s a red flag.
Anytime you see a broker offering high bonuses or commissions, stay away. These are traps set for investors to fall for the deposit value. The bonuses and commissions are mostly seen as justification for the required deposit.
Leverage keeps on rising, especially with the last two accounts. Industry regulators have agreed to maximum leverage of 1:100. Any broker extending this leverage puts your trading position at risk.
There are no account managers on the platform, and we don’t even see their results history. How will a member trust what the account manager says without verifying results? These are the red flags naïve traders fail to spot from a scam liquidity provider.
Another feature to be wary of is how the broker communicates with members. The broker doesn’t offer live chat and fails to leave any direct line for access. It’s a classic attempt to block all communications with would-be victims.
Before committing funds to a broker, test their communication lines. It’s the only way to prove authenticity.
Capital Whale claims regulation under the European Financial Security with reference number 322745. However, despite this being the case, FISEU doesn’t have the right to license brokers in any European jurisdiction.
And that shows the broker used the easy route to get a license from reputable regulators. Nonetheless, complaints were already lodged with FISEU regarding the misconduct of Capital Whale.
The best regulators in the industry that guarantee safety for members are well-known. These include ASIC, BaFIN, CFTC, CNMV, CONSOB, and CySEC. Others include FCA, NFA, and SEC.
Regulators work to ensure all parties adhere to a strict regulatory framework.
Members are funding accounts using bank and wire transfers. The broker also seems to insist on crypto deposits. We don’t recommend investing with the broker since withdrawing funds is a problem.
Your funds are far from safe with a broker who fails to offer much authenticity. In addition, the broker fails to provide any insurance coverage for deposits made by members. And that’s why we have to expose the funds issue.
Capital-whale.com fails to offer segregation of funds. The broker stores all funds in a single account. Nothing is stopping the broker from accessing these funds for personal use.
The trading fees are way too high for newbies. So regulators have set €$250 as the acceptable minimum deposit. Some regulated brokers even ask for $10 as a minimum deposit to start trading.
Please stay away from this broker or any other broker sharing similar features.
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