Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Trade Capitol, a trading name of Eunoia Group LLC, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:600 and floating spreads on the Webtrader trading platform via three different live account types, as well as 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Trade Capitol currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.03/10. Please be aware of the risk.
Market Instruments
Trade Capitol advertises that it offers access to a wide range of trading instruments in financial markets, including Forex, commodities, indices and stocks.
Account Types
Trade Capitol claims to offer three types of trading accounts, namely Beginner, Premium and Business, with minimum initial deposit requirements of $250, $2,500 and $25,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The specified leverage for different account types at Trade Capitol varies between 1:100 and 1:600. Clients on the Beginner account can experience leverage of 1:100, and the Premium and Business accounts can enjoy a higher leverage of 1:200-1:300 and 1:400-1:600 separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
Spreads on the Beginner account are advertised as 0.1 pips, while 1.1 pips on the Premium account and floating from 1.3 pips on the Business account. However, in the trading platform, we see a spread of 3 pips, which is much higher than they advertised on the site. All charging no commissions.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Trade Capitol gives traders a Webtrader. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
From the logos shown at the foot of the home page on Trade Capitols official website, we found that this broker seems to accept deposits and withdrawals via MasterCard, Maestro, Visa and Wire Transfer. The minimum initial deposit requirement is said to be $250.
Bonus & Fees
Trade Capitol claims to offer different welcome bonuses for different account types. Specifically, a 20% welcome bonus on the Beginner account, a 25% welcome bonus on the Premium account and a 30% welcome bonus on the Business account. However, the bonus can only be withdrawn when a high minimum traded volume requirement of 25 times the bonus amount plus the deposit is achieved.
It also charges an inactivity fee. Inactive accounts are charged an extremely high fee of 10% of the balance monthly.
Customer Support
The only way you can get in touch with Trade Capitol is via email: support@tradecapitol.co. However, this broker doesnt disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
