We investigate what the platform offers in our Capital Bear Review in order to give a verdict on the brokerage firm and its legitimacy. At the end of our analysis, you’ll find a form that you can fill out and book a consultation with us if you believe you’ve been scammed.
Capital Bear is run by Digital Smart LLC, an offshore company based in SVG, an infamous den of cyber thieves. Con artists found this island attractive due to its lax laws and favorable tax system.
SVG’s Financial Services Authority does not issue Forex licenses, nor does it supervise the financial market trading. This means that Capital Bear is unregulated.
If you want a reliable provider, we suggest you find a licensed brokerage or investment firm that operates under the supervision of a renowned financial market authority such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), MAS (Singapore), IIROC (Canada), etc.
In order to obtain a regulatory license under reputable jurisdictions such as Europe or the US, brokerage firms must have a minimum operating capital of 730,000 EUR and 20,000,000 USD, respectively.
Furthermore, their clients must receive negative balance protection, a segregated bank account in a top-tier bank (e.g. Barclays), a safe leverage cap for retail clients (1:30-1:50), and a compensation scheme contract (Europe) of up to 20,000 EUR. You won’t benefit from these perks if you trade with unregulated providers.
Each of these countries has different financial market regulations in force. It is mandatory for providers to obtain the necessary permits in order to operate in the US and Canada. To reiterate, the MSC flagged Capital Bear as illicit.
Capital Bear offers a lackluster web-based trading platform with elementary tools and an oversimplified interface. Aside from basic charts, graphs, and indicators, there is not much else. In addition, the broker supports a mobile trading app for Android and iOS devices.
Although the web platform is suitable for beginners, seasoned traders cannot benefit from it. If you want true trading experience, you should find a licensed firm that supports recognized third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.
If you are a newbie and want to check out Capital Bear’s platform, do not risk real money right away without first trying out the risk-free demo account.
Capital Bear did not disclose the maximum leverage the platform offers. Keep in mind that while leverage may amplify potential profits, it can also magnify losses and lead to devastating results.
Trading costs, i.e. spreads and commissions were not revealed either. The dubious broker awards users bonuses though (up to 1,000 USD). However, these deceitful “awards” do not come cheap.
Namely, there is a certain “trading volume that the client will need to reach and/or satisfy in order to be eligible to make any withdrawal, including to withdraw the bonus as real funds and/or any profits made after activation,” which is a shady clause. Bear in mind that European brokers are banned from issuing bonuses.
Capital Bear listed three available methods that can be used to deposit and withdraw funds:
The minimum deposit requirement is 10 USD but the minimum withdrawal amount is 1,000 USD. Fees for card transactions and PerfectMoney are 2% and for wires at least 25 USD.
In case you desire a refund, a chargeback is the best solution. If you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days of the transaction.
As for wire transfers, you can request a recall but only if the transaction has not gone through yet. For crypto payment refunds, you ought to seek out professional assistance. We can guide you through the process so please book a consultation with us.
Capital Bear is an offshore trading platform based in SVG that offers a web platform with unknown trading conditions. Do not forget that the Malaysian SC issued a warning against the unlicensed firm.
We stressed the importance of regulations and why it is better to trade under jurisdictions supervised by top-tier financial market watchdogs.
If you cannot withdraw your funds from this platform, please book a free consultation with Global Fraud Protection. We boast a team of skillful professionals who can assist you in the fund recovery process and get your money back as soon as possible.
Book your free consultation today and get your money back.
Capital Bear is an SVG-based offshore trading platform that offers online Forex and CFD trading.
Although the broker received numerous positive reviews, we must stress the fact that this entity is unregulated.
Capital Bear offers a web/mobile platform for Forex and CFD trading. If you cannot withdraw funds from this broker, call us.
The post Capital Bear Review: Covering The Basic Facts First appeared first on Global Fraud Protection.
