Capital Street FX Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Capital Street FX Review.
Capital Street FX Review
Capital Street FX offers its clients a single commission-free account type with NDD environment, and high leverage levels reaching 1:400 on the ActTrader platform. Traders can choose between fixed or variable spreads, Besides, micro tradeable lots are offered to those traders unwilling to put much at stake.
In addition, the broker offers Islamic (swap-free) services, as well as several advanced accounts for clients willing to invest $5000 and more. The VIP accounts offer trading in additional financial instruments, such as bonds, ETFs and options, and some extras – Educational Resources, access to webinars, account managers and the like.
Actually, the spreads offered by offerings of Capital Street FX are not very attractive. Variable ones are averaged 1.8 pips on EUR/USD, which is above the standard range of 1.0 – 1.5 pips. Fixed ones are no better, amounting to 3 pips on EUR/USD, while most fixed -spread brokers offer a spread of 2 pips for this pair. Nonetheless, the biggest disadvantage of Capital Street FX is the lack of proper authorization to provide brokerages services.
The Company. Security of Funds
Capital Street FX is an offshore broker, offering trading in more than 50 currency pairs and precious metals on their Capital Trader (ActTrader) platform. Unfortunately, this broker does not offer commodities and indices CFDs and does not support the most popular platform – the MetaTrader 4.
Although brokers registered with the Financial Services Commission of Mauritius (FSC) in Mauritius must satisfy certain prerequisites, such as to hold MUR 1 000 000, and to keep client funds in segregated accounts, we do not recommend them. Offshore financial licenses are shiny pieces of paper that many brokers upload on their websites, trying to present themselves as trustworthy companies to invest in. Well, the truth is that investing in offshore brokers is extremely risky and a large percentage of those companies are in fact indulged in fraudulent practices.
If you intend to invest a large amount of funds, we advise you to select among FCA-regulated brokerages, US or Swiss ones, where the respective financial watchdogs are always on alert and your money will be safe and protected.
Trading Platforms
Unlike most brokers, this one does not support the MetaTrader 4 (MT4) platform, but instead offers its customized version of ActTrader, called Capital Trader. It is available as desktop, web and mobile versions. We downloaded the desktop version and registered a demo account, bit never received an e-mail from Capital Street FX with the user name and password, so we could not test the platform.
Promotion
This broker offers 150% on-deposit tradeable bonus (up to $6,000) to each live client. The bonus itself is for trading purposes only, but the profits from it could be available for withdrawal: $10 for every round turn standard lot traded. It means $20 profit for 2 round turn lots, $30 profit for 3 round turn lots and so on.
Methods of Payment
Capital Street FX offers its clients bank wire transfer, credit/debit cards, as well electronic payments as payment options.
Capital Street FX is an offshore brokerage that uses the ActTrader platform. Apart from the fact that it is not properly regulated, its spreads are too high and its product portfolio is limited only to currency pairs.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Capital Street FX Review Conclusion
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