Swiss Capital FX Review: Scam Broker? - Topedgefx.com

Swiss Capital FX Review: Scam Broker?

Welcome to Swiss Capital FX review.

Swisscapitalfx.com is a broker that offers trading in Forex and CFDs instruments.

They claim to be a trading name of Thorntons Global Ltd, a company based in the St. Vincent and the Grenadines.

This broker offers the popular MT4 trading platform, multiple account types, generous leverage of up to 1:500 and a wide variety of trade-able instruments.

These include over 60 currency pairs, Energies, Commodities, Stocks and Cryptocurrencies.

SwissCapitalFX also claims that they’re offering the “best trading conditions based on modern technology so that their clients’ trading experience can be taken to the next level with ease.”

They want traders to know that SwissCapital FX is offering “speedy execution in the range of milliseconds”, fair pricing, fund security and proficient 24 hour support by phone, email and chat.

However, this broker does not offer a trading platform like cTrader. So if you’re not comfortable with MT4 software, you should probably open an account with a broker like Octafx.

What is more, their regulatory status isn’t clear.

Swiss Capital FX review

Their website claims that they’re registered under 25194 IBC 2018. This appears to be a mere referencing number for the company and not a regulator’s license number.

If you plan to use this broker, read this Swiss Capital FX review first so you can make an informed decision.

Swiss Capital FX review

Swiss Capital FX has been around for 1 year only.

So this is a very new broker compared to more established ones in the industry.

Most traders prefer opening their accounts with brokers who are well regulated and reputable.

To gain this reputation, a broker must establish their business over many years.

We start this part of the Swiss Capital FX review with a description of their multiple trading accounts.

There are 4 account types so far. They’re as follows:

[tabs][tab title=”Silver Account”]Base currency: USD, EUR and GBP

Contract size: 100,000

Leverage: Up to 1:500

Execution: STP

Spread: From 1.6 pips

Commission: ×

Minimum Deposit: ×

Mobile Trading: √

Hedging and one-click trading:√

Expert Advisors: √

Islamic Accounts: √

Crypto Trading: √

[/tab] [tab title=”Gold Account”]

Base currency: USD, EUR and GBP

Contract size: 100,000

Leverage: Up to 1:500

Execution: STP

Spread: -30% Silver

Commission: ×

Minimum Deposit: USD5,000

Mobile Trading: √

Hedging and one-click trading:√

Expert Advisors: √

Islamic Accounts: √

Crypto Trading: √

[/tab] [tab title=”Platinum Account”]

Base currency: USD, EUR and GBP

Contract size: 100,000

Leverage: Up to 1:500

Execution: STP

Spread: -30% Gold

Commission: ×

Minimum Deposit: USD20,000

Mobile Trading: √

Hedging and one-click trading:√

Expert Advisors: √

Islamic Accounts: √

Crypto Trading: √

[/tab] [tab title=”Pro Account”]

Base currency: USD, EUR and GBP

Contract size: 100,000

Leverage: Up to 1:500

Execution: STP

Spread: From 0 pips

Commission: √

Minimum Deposit: USD50,000

Mobile Trading: √

Hedging and one-click trading:√

Expert Advisors: √

Islamic Accounts: √

Crypto Trading: √

[/tab][/tabs]

On top of this, SwissCapital FX offers these trading accounts in demo for clients who want to horn their trading skills.

It is important for traders to use demo accounts if they’re not confident of their abilities.

Nevertheless, it is even more important to acquire the right training before one can transition to a live account.

There are many Forex trading mentorships around. Some are good and some are really bad, a total waste of money. If this is something you’d want to go through in order to become a professional trader, please check our recommended Forex trading school here. 

SwissCapital FX deposits and withdrawal options

They accept debit and credit cards including wire transfers and several e-wallet options.

For brokers to remain competitive, they must accommodate all of the options that their customers would like to use.

What is not clear is whether Swiss Capital FX is accepting deposits in Bitcoin. If you would like a broker that accepts deposits in BTC, please use FXchoice broker.

Are US Traders accepted?

This broker is prohibited by the Commodity Futures Trading Commission (CFTC) from offering its financial services to US citizens or residents.

This reminds us of their regulatory status. According to the official website, Swiss Capital FX is an global broker that strictly adheres to international laws and regulations.

But at the same time, this broker is not showing its clients any licenses from a financial regulator in their country.

This is such an irony because if indeed it is true that Swiss Capital FX is a broker that follows international laws, they should not be offering any financial services without a license.

This seems to be the biggest disadvantage of using the services of a broker like SwissCapital FX.

Traders funds are always at risk.

However, the broker is reluctant to bring this to the attention of its clients. In fact, there is a page on the official website stating how safety of funds is enforced.

You should know that this is a requirement of the financial regulators and a broker who operates without a license cannot segregate their clients’ financial accounts.

Their statement is therefore suspicious. Without a license, traders cannot be assured of any compensation in case the company becomes insolvent.

Conclusion

Spreads are not bad since they start at 1.6 pips for commission-free trading accounts.

However, there are brokers who charge 1.5 pips or less for the most liquid pairs like EURUSD. You can find them here. 

On the same note, Swiss Capital FX is offering generous leverage to its traders. The only thing you should be aware of is that leverage is a double-edged sword.

It can build your profits quickly and also ruin your account in the same speed that those profits were accumulated.

We don’t have any problem with this broker’s trading conditions because they seem fair. The only problem is that they’re unregulated.

This poses a significant risk to traders who deposit a large amount of money.

Also, transferring money to a broker who is not regulated can be a hard thing to do since most people will not have a peace of mind trading with such a broker.

Therefore, we advice that traders should use caution. If possible, Swiss Capital FX address this concern before we can recommend their services to the trading community.

Thank you for reading this Swiss Capital FX review. I want to hear your comments.

8 Comments

  1. director January 13, 2020
    • TopedgeFX Team January 13, 2020
      • director January 13, 2020
      • director January 13, 2020
  2. Margarida Kleba January 24, 2020
  3. Shailesh May 11, 2020
  4. Karabo Robinson June 28, 2020
  5. Annalie December 24, 2020

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