BGold Capital Review: Is bgoldcapital.com Scam Broker? - Topedgefx.com

BGold Capital Review: Is bgoldcapital.com Scam Broker?

Welcome to BGold Capital review.

BGold Capital offers trading in Forex instruments on the famous MT4 trading platform. They also provide generous leverage to traders with limited capital who would like to use aggressive trading strategies.

BGold Capital broker is currently offering 4 different account types with minimum deposit starting at $1,000.

In addition to this, the Forex and CFDs broker feels that with the quality of service they offer, traders would have a chance of taking their trading to the top and exceeding their limits.

As usual, brokers wanting to win the hearts of traders will always go to great lengths to promise anything.

What matters is you reading a review like this and making up your mind.

In the meantime, we’re recommending these Forex trading tools to traders of all levels, whether beginner or intermediate.

BGold Capital review

We’re always looking at Forex brokers in terms of account types and trading conditions.

BGOLD CAPITAL broker review

BGold Capital believes that they have the best trading account for all types of traders.

They even encourage traders to speak to an account Manager to help them choose an ideal account type suitable for their needs.

We’ve highlighted details of BGold Capital Forex broker account types below.

[tabs][tab title=”Classic”]Minimum Deposit: $1,000

Daily Briefing & Research
Desktop & Mobile Trader
Video Tutorials

Spread: 3.0 pips

Leverage: 1:400

[/tab] [tab title=”Gold”]Minimum Deposit: $10,000

Daily Briefing & Research
Desktop & Mobile Trader
Video Tutorials
Competitive spreads
Webinars & Seminars

Spread: 0.6 pips

Leverage: 1:400

[/tab] [tab title=”Platinum”]Minimum Deposit: $25,000

Daily Briefing & Research
Desktop & Mobile Trader
Video Tutorials
Competitive spreads
Webinars & Seminars
General Account Manager
SMS News & Signals

Spread: N/A

Leverage: 1:400

[/tab] [tab title=”VIP”]Minimum Deposit: $100,000

Daily Briefing & Research
Desktop & Mobile Trader
Video Tutorials
Competitive spreads
Webinars & Seminars
General Account Manager
SMS News & Signals
Premium Daily Analysis
Premium Customer Care

Spread: 0.5 pips

Leverage: 1:400

[/tab][/tabs]

BGold Capital broker’s trading conditions are not the best we’ve seen in the industry.

While we can easily live with this, what we cannot tolerate is the fact that BGold Capital broker does not hold a valid broker’s license and secondly, they recently got a warning from Spanish financial regulator called CNMV.

The only advantage they seem to provide is the MT4 trading platform coupled with generous leverage.

Using excessive leverage is of course a matter of risking more to make more and as such, traders may incur heavy losses due to excessive leverage.

MT4 trading platform is a good thing to provide. We’re giving BGold Capital broker credit for this.

The reason we continue to rally behind MT4 platform and regulated brokers who provide them is because MT4 trading platform is quite robust and endowed with excellent charting, trading indicators and EAs of all kinds.

It appears that this is all that Bgold Capital broker can provide at this time. So we’ll focus on the drawbacks.

Blacklisted by financial regulator CNMV

BGold Capital is a broker operated by a company known as Pro Star. Pro Star is an offshore company operating out of St. Vincent and the Grenadines (SVG).

Definitely brokers who operate in this region are neither licensed nor authorized to provide their services in countries where offering financial services is an area that is highly regulated.

We can therefore conclude that Bgold Capital broker is not allowed to provide their services to residents of the US, UK, Canada and Japan.

That aside, Bgold Capital has been found to breach the rules of CNMV which has consequently led to blacklisting of this broker’s website.

The Spanish financial regulator says this broker is most likely a scam as they operate without a valid regulator’s license while targeting Spanish traders.

Is BGold Capital part of a larger scam?

The name Pro Star has been mentioned many times and the saddest thing is that this name is somehow associated with an infamous websites.

Pro Star is operating other brokerages namely TradesRun, CFDIZ and Prime Markets. All of these trading entities have already been blacklisted by the CNMV.

There are two additional brokers associated with BGold Capital which have been blacklisted by CONSOB (Italian financial regulator) and CNMV.

Traderia is associated with Pro Star and is blacklisted by CNMV. On the other hand, Finantik is associated with Pro Star but is blacklisted by CONSOB.

High spread and minimum deposit

Their first trading account type has crazy spreads which is nearly twice that of a normal broker’s account.

You shouldn’t be paying 3.0 pips for a pair like EURUSD. It is just not right.

Also, the minimum deposit is quite high. We don’t think many traders will be depositing $1,000 in order to try this broker.

Excessive deposit requirement usually means that the broker has few clients and is probably looking to make a lot of money in a short period of time.

Third-Party MT4 trading platform

Bgold Capital broker’s MT4 trading software is provided by Algo Trade limited. Either the two companies are related or Bgold Capital is simply using a white label rented from Algo Trade Limited.

Conclusion

Since Bgold Capital broker is associated with Pro Star, it could mean that it is a part of a serial scam operated by the offending company which is also responsible for running other dubious websites.

In that case, we request traders to stay away from Bgold Capital broker because nothing good can come out of this broker’s website.

While the Forex market place is filled with scams left right and center, one doesn’t have to fall for the most obvious ones.

The obvious ones would be brokers who operate without a license despite being warned by financial regulators to quit targeting their citizens.

Bgold Capital broker falls into the category of the most suspicious and potentially dubious brokers like Olympus FX, SwissCapital.fm, LexaTrade and many others.

Our only advice is that you should stay away from brokers with no reputation or license. It will save you a lot of heartache in the end.

Thanks for reading the Bgold Capital broker review. We would like to hear your opinion.

∗We’re not going to approve comments promoting fake fund recovery programs/websites.

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