

5Capital
5Capital Details
Languages
Table of contents
5Capital is owned by 21 TEX, a broker allegedly dealing only in crypto, registered in Bulgaria, where all brokers must hold a license from the Financial Supervision Commission (FSC) if they wish to operate within the boundaries of the law. Nevertheless, we couldn’t find either names in the official registry of licensed companies, thus we can conclude that 5Capital is unregulated.
Furthermore, if that wasn’t enough, the broker claims to not be directed at any jurisdiction, directly shooting itself down:
We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.
All the same, if traders wish to trade in Bulgaria, they should only do so with broker licensed by the FSC, which includes a compensation scheme that covers 90% (up to €20 450) of the clients funds in the event the brokers becomes insolvent. This compensation fund passes on the message that, even though it’s rare to see a renowned broker holding a FSC license, this regulatory entity can be trusted.
The leverage is 1:2, as shown on the trading platform. This is a very unexpected value, because a broker that is unlicensed can offer any leverage it wants. In any case, this small a leverage will induce more deposits to be made.
There are no currencies on the trading platform, only 8 crypto pairs, with BIT/UST spread being 0.
By now it’s obvious that 5Capital has only cryptocurrencies as sole trading asset.
Languages are Arabic, German and English. On the personal dashboard, Arabic has been removed.
5CAPITAL LOGIN
The broker comes up with a stylish looking trading platform.
5CAPITAL TRADER
This trader comes with some customizable options, pending positions, indicators, and charts brought to you by a third party website:
Although it looks nice, it clearly is a forefront for this broker’s shady activities.
As mentioned, the leverage is 1:2, while the spread for the BIT/UST crypto pair is zero.
The platform is web-based. There is also an Android version of it.
5CAPITAL MINIMUM DEPOSIT
The minimum deposit is $250. This is the recommended industry standard amount.
The funding methods are all over the place, but the ones we deem true are found on the user’s Dashboard deposit section. They are Credit/Debit Cards, Wire Transfer, Deposit by Phone, and Bitcoin.
Whatever other methods of funding the broker claims to be incorporating, like Sofort, Skrill, Neteller and more
…should not be taken seriously, as the former snap showcases the only ones that are actually provided.
Due to the broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The three digit CVV code is essential to making purchases or completing transactions online. By handing this info to someone claiming to be a broker, your are exposing your savings to the biggest risk of all!
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
AnyDesk and TeamViewer softwares are double edged. For one, you provide complete access to your computer to someone else who, essentially, takes over as the new user. This can be helpful if the person with access is a friend, colleague, or acquaintance; or it can be devastating to your private information, including bank info, if you provide entry to someone with a shady background. Hence the double edge. Note that these softwares are 100% legal meaning that your approval will be needed if someone is to tinker inside your PC.
5CAPITAL WITHDRAWAL TIME AND FEES
There is no indication on a minimum withdrawal.
The broker processes all withdrawal requests within 7 days.
The Terms and Conditions leave us baffled at the level of writing. The following snap was taken directly from the T/C, and it concerns some sort of fee that we could not understand. Usually we try to simplify things for you, but with this one we will leave it devoid of any comment:
ADDITIONAL FEES AND TAXES
5Capital gives itself permission to deduct at any time undisclosed fees connected to its services.
This clause basically gives them right to charge you whenever they feel like it.
Furthermore, there is financial product fee:
The term financial product is quite open to speculation and thus this clause can easily apply to any sort of trading activity the client does.
The entirety of the “Commissions Fees and Expenses” section in the Terms and Condition is brimming with contradictory clauses, that had our head spinning. The entirety of it is that the broker will find any excuse to charge its clients.
The presence of such charges point out the true scammer nature of this broker. With so many commissions and charges, it’s in 5Capital’s self-interest to keep you invested for as long as possible. For this reason they will deny your withdrawal request, for certain. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
ACCOUNT VERIFICATION
If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.
The most important thing to note is that this broker will not return your deposit, nor will it pay your winnings. It never had this intention in the first place. The best advise is to walk away from it, and go straight for a regulated broker. The FCA and CySEC are the top non-US license issuers, and those under their gaze are bound by the law to put the security of users’ funds as pivotal priority.
HOW TO RECOVER
The only thing that is left to do is to file for a chargeback, and hope that the minimum amount of damage has been inflicted on your account.
If you have given a CVV code to the broker, be sure to cancel your credit card as soon as possible, because the broker will not delay with draining every cent from it.
At some point or another you might stumble upon a “recovery” agent or agency that promises to retrieve all your money back. This sounds all too good to be true, and that’s because it isn’t. Before proceeding with the recovery they will ask a payment for their services. If you chose to indulge them, they will disappear with the money without a hint of remorse.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
BOTTOM LINE
5Capital works purely for itself; all these commissions and fees are simply ridiculous. The lack of regulation seals the whole deal. Do not waste your time and energy with this one!
5Capital compared to other brands
Brand
Rating
Bonus
Min Deposit
Company
Country

5Capital
-
$250
Bulgaria

ForexTime
Copy trading
$10
United Kingdom, Cyprus, South Africa, Mauritius

OctaFX
50% Bonus
$50
Cyprus, Saint Vincent and the Grenadines