Capitalfx ltd Review: Is capitalfxltd.com Legit or Scam?
There’s nothing like free money for trading but unfortunately websites like Capitalfx ltd are capitalizing on the ignorance of consumers by selling them funded trading accounts. Capitalfxltd.com wants you to pay them £300 upfront to receive a 50K funded trading account. The other two packages require £450.0 or £700 to trade a 100K or 200K account respectively.
Now, the reason capitalfxltd.com is a scam is because the fees which you are paying upfront are non-refundable and secondly, you are trading on a demo account in the so-called evaluation phase. It costs nothing for this company to put you in the evaluation phase since you are trading with virtual money. On the other hand, you are paying what might seem like assessement fee or whatever they call it. This is how CapitalFX Ltd is making a killing at the expense of you losing your money. Because these “fund my account” programs are a scam, we urge you to avoid them completely. If you want real trading, you can start with $1,000 and build your account slowly using these highly recommended trading materials.
Capitalfx ltd Review: Will you be funded for passing the evaluation tests?
CapitalFXltd is operating an illegal program just like FundedNext and other scams that want your money first before they can give you a “funded live trading account”.
They know that lack of sufficient capital is one of the greatest challenges a trader can face.
However and in my opinion, this is not a very big challenge as mastering the skill of trading is the only challenge you must pass.
Otherwise, even if you are given $500,000 to trade with, you’d still wipe that account clean at some point if you don’t have a strategy or whatever it takes to trade like a professional.
On the other hand, if you have a small account size but trading like a professional using skills that you learned from these recommended trading resources, then you will see your account growing slowly by slowly. Before you know it, you will have multiplied your deposit.
Now, Capitalfxltd presents 6 different “evaluation” phases with conditions that must be met in order to continue in the program and not to lose any fee that you paid when signing up.
The company states that you must achieve a profit of 10% in your first initial capital. Maximum drawdown should also not exceed 10%.
A minimum of 20 trading days are needed.
On paper, it sounds easy but practically, this is something you cannot achieve if you are the average trader.
In other words, nearly everybody who gets into this kind of program will lose the fees which they paid ufront. On the other hand, owners of capitalfxltd.com will glady pocket your money and smile all the way to the bank.
Ultimately, capitalfxltd.com does not have the intention of funding you because they do not have that money in the first place.
What to do if you have been scammed by capitalfxltd.com
Although the initial fee is not that much and some people are easily going to count their losses and move on, we’re aware that £700 can be a big loss for other people.
You can request a chargeback by filling in the form in this review or using the livechat function down below.
If you have lost any significant amount of money in any website (it doesn’t have to be this one in particular), then you can also follow the same procedure to get your money back.
The conclusion
Capitalfx ltd is a scam that preys on the greed of humanity. The average trader thinks that he is failing because he does not have enough capital for trading.
The truth is that a trader will fail to make money and even lose everything because they are not sufficiently educated or experienced in the markets.
These recommended trading products and services can help you get started even if you don’t know much about trading.
In the meantime, avoid Capitalfx ltd and such like websites that peddle funded trading accounts. They’re all scams.