CapitalGBP

The moment we opened CapitalGBP we got a sense of just what it is. Read on to find out.

The legal documents keep mentioning Game Capital Ads Limited which is presumably the parent company of CapitalGBP, but it doe not directly say so. What’s more is that there is no mention of a regulation. The footer mentions an address in London and nothing else. Even if we knew where this was going, we nonetheless checked with the FCA’s online registry. Neither Game Capital Ads Limited nor CapitalGBP was listed. This can mean only one thing, CapitalGBP is UNREGULATED, and as such is a risk to every investor.

Always check for a proper broker license within the domains of the regulatory agencies. All of them have access to either an online database of regulated financial services providers, or separate lists of authorized companies.

We opened an account, and once we downloaded the trading platform we were greeted with some concerning news that we will talk about in the Login section. For now we will just say that there is no cost of trade. The same issues is applied when talking about the leverage and the trading assets.

CapitalGBP is available in English, Italian, and Spanish.

CAPITALGBP LOGIN

The broker offers a MT4 platform, but there is just one problem that renders the whole thing irrelevant. The MT4 here does not belong to CapitalGBP, but to a WestMediaGroup. This is yet another example of an illicit broker taking a MT4 version that does not belong to them and hoping that no one will notice. Well, as we have seen with ProofFX, this isn’t our first such occurrence.

The only leverage and spread info we found on the entire website is on the Home Page. It states that the EUR/USD spread is 1.6 pips, while the leverage is capped at 1:200.

The platform is available on a standalone desktop version, on a web-browser, and on Android devices.

CAPITALGBP MINIMUM DEPOSIT

According to the client portal the payment methods are Visa, MasterCard, bitcoin, and VoguePay.

The website states that the minimum deposit is $250.

Once more: this broker is clearly unregulated, and if you choose fund an account with it, it will put you directly at risk of losing all funds. For safekeeping your money, we strongly advise to avoid all brokers who do not have a proper license from renowned regulatory bodies. Agencies like the FCA and CySEC stand out as some of the top license issuers in the world, notorious for their severe requirements and close relationships with the law.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

AnyDesk and TeamViewer software 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 software are 100% legal meaning that your approval will be needed if someone is to tinker inside your PC.

CAPITALGBP WITHDRAWAL TIME AND FEES

The minimum withdrawal is $100.

If we are to trust the Client Area, then withdrawals are processed within 24 hours.

There are no withdrawal fees mentioned anywhere.

Be wary when accepting a bonus. Users must buy/sell 3.3 standard lots for each $10 bonus before making a withdrawal.

Furthermore, there is a withdrawal volume requirement of 25 times for every $1 reward. Rewards offer her are just like bonus, with the only difference in the nomenclature.

Heed our words. Unregulated brokers do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. 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.

We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.

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

All in all CapitalGBP is quite unimpressive, and will surely cost you more than your investments if you chose to deposit here. We say let this one go.