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MyCapital
Abstract：MyCapital is an online forex broker providing a series of trading instruments for its clients. This broker gives their clients multiple choices of trading accounts and access to the popular MetaTrader 4 platform. MyCapital is not authorized or regulated by any regulatory authority. Please be aware of the risk.
| Basic | Information |
| Registered Country/Region | China |
| Regulation | No License |
| Minimum Deposit | $250 |
| Minimum Spreads | From 0.4 pips |
| Maximum Leverage | N/A |
| Trading Platform | MT4 trading platform available |
| Payment Methods | N/A |
| Customer Support | Email Support |
General Information
MyCapital is an online forex broker providing a series of trading instruments for its clients. This broker gives their clients multiple choices of trading accounts and access to the popular MetaTrader 4 platform.
MyCapital is not authorized or regulated by any regulatory authority. Please be aware of the risk.
Account Types
Four types of trading accounts are on offer: Cent, Mini, Standard, and VIP. Overall, the minimum deposit required by each account is quite high, with the Cent account from $250, much higher than its peers; requirements for this types of accounts. while the other three accounts even ask for more, the Mini account from $1,000, the Standard account from $10,000, the Standard account from $100,000.
| Account Types | Minimum Deposit | Max. Leverage | Spreads |
| Cent | $250 | N/A | From 2.4 pips |
| Mini | $1,000 | N/A | From 2.4 pips |
| Standard | $10,000 | N/A | From 0.4 pips |
| VIP | $100,000 | N/A | From 0.4 pips |
Obviously, trading with an unregulated forex broker requiring so high deposits is taking a huge risk of losing your money. Thus, extra vigilance should be taken.
Trading Platform
Clients of MyCapital are offered trading on Status Webtrader, as well as the industry leading MT4 trading platform. the presence of the MT4 is always considered as plus of any broker, as the platform provides a full set of trading tools and features: a number of built-in technical indicators, as well as other perks. Besides, the MT4 is available as desktop, web and mobile app devices.
Deposit & withdrawal
MyCapital allows its clients to make a deposit and withdrawal through multiple payment methods, which include PostePay, Sofort, UPayCard, VISA, Wire Transfer and Entropay.
In MyCapitals withdrawal policy, one can read that withdrawals are charged pretty salty and besides, a levy of 10% is charged to any withdrawal from an account that has not executed more than 200 in turnover. This is not a common practice among forex brokers and subjects their clients to unnecessary additional risk.
Customer support
MyCapital offers the poor customer support, and clients can only get in touch with this broker through an email: support@mycapital.io.
Pros & Cons
Some advantages and disadvantages of MyCapital are clearly listed below:
| Pros | Cons |
| MT4 trading platform | Not regulated |
| Four types of accounts to choose from | High minimum deposit |
| High Spreads | |
| Insufficient company info | |
| High withdrawal fees | |
| Only email support available |
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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