Trade Capital is a relatively new company on the market, but it has already made quite a few bad things to ruin its reputation. Namely, the company is claiming to provide trading services in the UK. However, when we visited the FCA (Financial Conduct Authority) website, we found out the grim truth. Namely, the FCA officials are warning against trading with this company, since it is misleading their clients. That’s right – Trade Capital is claiming to own the licence by this regulatory body, although this is far from the truth.
In this Trade Capital review, we will show you all the features of the company. Both good and bad, they are contributing to the overall image of the Trade Capital, but also the entire trading landscape.
Quality of Service
The first thing we decided to check out about Trade Capital is the trading platform. After all, this is one of the most-visited parts of every trading website, right? Here we found that Trade Capital only offers a modest web-based platform. However, this is not so strange since the company is not even regulated. Here you can trade around 10 currency pairs in total and a few stocks. Yes, that’s it! Saying that this is a modest selection would be an understatement of the year.
Still, this is not even the worst of it. Namely, the company has been accused numerous times of misleading their clients by stealing the data and screenshots from different websites and presenting them as their own. How can they still be operating on the market after this?
Speed of Response
The customer support team at Trade Capital is only available for registered clients, unfortunately. What does that mean for you? Well, to put it simply, you won’t be getting any assistance unless you sign up for an account. Furthermore, you can contact them through the e-mail only, and they will respond within several business days. There is no live chat option available. Also, there is a phone number for UK clients, but as we’ve already mentioned, that is a stretch, to say the least.
There isn’t a lot of information about this section in particular. Everywhere on the website, you will only find out a few facts about the phenomenon of Robot trading, which requires you to only pay a one-time deposit of $250. Also, since there are a few cryptocurrencies available on the platform, we can only assume that there are also some e-wallets that you can use. The e-wallets usually take about a few minutes to process the requests. However, this is only speculation on our part, considering that there is no clear information about it on the website.
Once again, Trade Capital is quite vague with this section. Namely, on their Terms and Conditions page, you will only find a few lines about how some fees and commissions can apply on certain transactions. This is standard. However, there is no other data to explain how big those fees are or which requirements do they cover in practice.
As we mentioned already, Trade Capital is an unregulated company. It is based in Switzerland but claims to be providing services for several European countries. However, this is not possible without a valid licence, so we have to question the accuracy of this information. In addition, the company is a sore in the eyes of even the most reputable European regulatory body – the Financial Conduct Authority. Their officials are warning all the clients to steer clear of this company, which says a lot about them.
Variety of Payment Options
Trade Capital does not list clearly which banking options you can use if you wish to make a deposit or a withdrawal on your account. They only require a one-time deposit of $250 for the robot trading option, but they do not specify how you can actually make that payment at all. In conclusion, there is a lot of missing information about this company, which we consider a huge red flag, and you should too.