Note: Coin Capital FX's official website: https://coincapitalfx.com/ is currently inaccessible normally.
Coin Capital FX Information
Registered in the United Kingdom, Coin Capital FX presents itself as an online forex broker providing a series of trading instruments, such as Forex, Stocks, Cryptocurrency though a web trader. To trade with Coin Capital FX, an initial deposit of $500 is required.
However, as a UK-registered forex broker, Coin Capital FX is not authorized or regulated by FCA or other regulatory authorities. Please be aware of the risk.
Pros and Cons
Is Coin Capital FX Legit?
No. It is registered in United Kingdom within 1 year. It has no valid regulations currently. It does not offer guaranteed funds or segregated accounts.
What Can I Trade on Coin Capital FX?
Account Type
Here are three account types Coin Capital FX offers:
To trade with Coin Capital FX, an initial deposit of $500 is what you need to take if you could bear the risk of trading with an unregulated forex broker. This is five times the amount than what most legit forex brokers require as a start.
Leverage
Coin Capital FX does not elaborate on the leverage ratios they offer. Since leverage can magnify gains, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.
Trading Platform
What Coin Capital FX offers is not the industry-leading MT4 or MT5 trading platform, a web platform with simple design and some basic charting functionalities.
Deposit and Withdrawal
The minimum deposit is $500 and Coin Capital FX allows its clients to make a deposit and withdrawal through Credit Cards, Bank Wire, and PayPal. However, after signing up with them, we find that deposit can only be done through Bitcoin. Payments through VISA and MasterCard are safer, because they allow chargebacks within 540 days from the date of deposit to those who have fallen victims of an investment scam.
Risk Warning
Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investment objectives and level of experience.
The information presented in this article is intended solely for reference purposes.
