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Believe it or not, FXCapital360 (fxcapital360.com) is a scam. The few who have invested with the platform are now crying foul. We have proof FX Capital 360 is not a genuine forex investment platform. Trading doesn’t take place as this is only a deposit-only platform. Hundreds are ruing the decision to invest after the withdrawal blockade. It remains impossible to withdraw funds from FXCapital 360. Here’s our genuine FXCAPITAL360 REVIEW.
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The platform claims to offer customized trading services to investors. That includes a world-class trading platform from a broker with decades of experience. We get this extract from the about us page, history section.
There’s not much to talk about regarding investing with the platform. However, those who have invested with the platform are not new to trading. And that’s why we have to take the platform to task for some of the promises told.
We can see that FX Capital 360 is not your average trading platform. Despite having an enticing interface, not everything that glitters is gold. Some of the trading conditions are horrible at best.
And that’s why we have to take action and expose the broker. But unfortunately, the conditions are not conducive, especially for beginners. Even skilled traders are having difficulty trying to trade on the platform.
Worse, the trading terminal is not what you expect from a broker with decades of experience. The custom-built trading platform is beyond repair as it’s unstable and horrible at best.
Navigating through the platform is also a problem. The developer tried to spread information on various pages. As a result, there are over 20 pages to look at, which screams unprofessional. And that’s why we have to expose the platform.
Before investing in any platform, you must look at the broker. Does the broker have what it takes to offer fair trading conditions? These are the aspects you need to check, including licensing and safety of funds.
Regarding trading conditions, only one tier has what it takes in the market. The platform seems to increase leverage as you head over more advanced accounts. We see maximum leverage of 1:500, which is unacceptable in the forex world.
Spreads start from 0.1 to a maximum of 0.5 pips. The platform fails to quote whether these are floating or fixed spreads. There’s also the commission value on offer with these accounts. The maximum commission quote is €11.3 per lot.
High leverage puts your trading position at risk. Try and avoid using accounts with leverage above 1:100. Regulators have put this cap to protect all traders and level the playing field. Only the platform gets to profit from trading commissions.
There’s no mention of the possible trading accounts on this platform. Instead, we get a platform claiming to offer a custom-made trading platform. You don’t get access to MT4 or MT5 trading terminals. And that’s a big letdown for members.
As a trader, you would want a platform with terminals that offer the trader an edge. And that’s what MT4 and MT5 trading platforms do. You get a trading terminal that’s compatible with all devices.
FXCapital360 furnishes traders with five accounts. These include Starter, Premium, Golden, Black, and VIP. Each of these accounts has something different to bring to the table. Here’s a closer look at each account;
Starter
You have to deposit a minimum of €250 to get started. The maximum leverage set is 1:300, with members accessing the web trader. The account promises a personal account manager and segregation of accounts.
Premium
There’s a minimum deposit of €2,500 set for this account. Leverage is 1:200 with minimum lot size set at 0.3 pips. Account setup and management services are quoted as free. The minimum order size is 0.01 lot.
Golden
The golden account holders have a minimum deposit threshold of €25,000. Commissions start at €6.2 per lot with a promise of negative balance protection. The leverage for the Golden account is 1:300.
Black
One of the two exclusive accounts, members must deposit €100,000 to get started. Leverage starts from 1:400, with members earning a commission of €11.3 per lot. You also get a financial advisory and personalized customer service.
VIP
It’s the most exclusive account with the platform also targeting institutional investors. The leverage is 1:500, and the minimum set deposit is €250,000. You also get all other trading features available on the four accounts.
Well, glad you asked; the platform will allow members to open an account and start trading. There are a few key issues to note before exposing the scam. And that’s user engagement. The platform does allow users to trade and see their profits grow.
When you decide to withdraw funds, the platform shows its true colors. You don’t get to withdraw. Instead, immediately after you hit the withdraw tab, the platform automatically responds via email.
The email claims your account is under review before releasing funds. And this is happening after successfully trading and earning profit. The platform fails to give members an apparent response to what’s happening.
Losing your entire investment is probably the most considerable risk. However, you will also have lost your time while trading with a platform that blocks withdrawals. These are some of the issues we found disturbing with fxcapital360.com.
There are no positives to investing with a platform that blocks withdrawals. We have a list of fxcapital360.com cons. These are the biggest hurdles you will face as a member of the trading platform.
No client has come out and heaped praise on the platform. And that’s because the platform blocks withdrawals. A few clients tried exposing the platform via social media pages. With their harrowing experience, it’s best to stay away from the platform.
You won’t get immediate responses to any claims or queries via email. The platform fails to offer live chat, and the phone number rarely goes through. When it does, someone from the other end will claim to let the broker know of your case.
The platform fails to have a license from the Financial Conduct Authority. You would expect the FCA to have a platform under its jurisdiction licensed and regulated. But, unfortunately, it’s not the case, as no such broker exists in the UK.
When engaging with trading platforms, check to confirm regulations. Some reputable regulatory institutions include ASIC, CFTC, NFA, and the SEC. In Europe, top regulators include BaFIN, CNMV, CONSOB, CySEC, FINRA, and FMA.
These are all agents hired by the platform to act as professional account managers. Unfortunately, all they do is call members urging them to deposit more funds. You will lose a large chunk thanks to the empty promises of account managers.
Segregation of accounts is out of the question. The platform fails to offer insurance cover for deposits made by clients.
Please stay away, as fxcapital360.com is a scam.
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