This broker has only a single license, and it is in an offshore jurisdiction with loose regulatory standards. The company has been operating without any license for 3 years, and as a consequence, they have been blacklisted. Some of the major issues with FXBitCapital concern their Terms & Conditions, or better said the lack of. The broker features an affiliate program as well, which functions like an MLM scheme.
Not all brokers are worth your investment. Read our FXBitCapital Review to find out why we don’t recommend this firm.
www.fxbitcapital.com
my.fxbitcapital.com
Large number of brokers today choose SVG for their main headquarters, since the nation is a tax haven. However, the main financial regulator of SVG, an agency named FSA, does not regulate brokers.
MISA is not exactly known as a strict financial regulator, and they don’t have a firm hold over the companies they are supposed to oversee.
FXBitCapital is a virtually unknown company on the internet. We had to dig quite deep to find any customer testimonials. What we found is not very assuring of the FXBitCapital quality of service.
This is what FXBitCapital say about the company:
“ The information provided by this company FxBitCapital is very little, which makes me feel very insincere. […] “
“ Avoid FX BitCapital if you don`t want to lose your money! They didn’t allow me have my deposit back. All I can say is that the broker is not granting withdrawals. […] “
“ Broker does not approve withdrawals I was creating a withdrawal request with FXBitCapitals since March 2023 and they still didn`t give me my money. On the client portal, the withdrawal looks like is done but they don`t transfer you the money. […] “
In the case you have encountered any issues with FXBitCapital, you may contact our legal professionals via the live chat for assistance.
FXBitCapital doesn’t have much publicity. In order to attract clients, they advertise all sorts of lucrative deals available on their platform. One of these is an affiliate program, which functions similarly to MLM marketing.
Affiliates are tasked with recruiting people to the platform, and receive payment for each lot traded by the people they have recruited.
One thing that drew our attention with FXBitCapital is the involvement of Personal Account Managers. In many jurisdictions, these individuals must be subject to regulation themselves. The probable cause for the CBR warning on FXBitCapital is that their Account Managers are not licensed.
FXBitCapital has not been in business for a very long time. Their website was launched in 2020, but alarmingly the company has only obtained a MISA license in 2023. This has created a 3-year time period during which FXBitCapital was completely unregulated.
The company actively solicits services in the following nations:
FxBitCapital MT4 Platform being the only available trading app cannot be considered as sufficient. Although millions of traders around the world use and appreciate MT4, every reputable broker looks to expand their offer. For that reason, MT4 is usually provided alongside other premium software, such as MT5 and cTrader.
Still, the fact that the broker enables trading on this reliable and trustworthy platform is definitely an advantage to becoming their customer.
Trading on the go while keeping the functionality of a desktop platform is something many software developers struggle with and aim to provide. MT4 successfully manages all the necessary features while being just as comprehensive, fast and reliable. Android and iPhone users can download the mobile app and log into the FXBitCapital server to trade wherever they are.
FXBitCapital offers a good selection of trading instruments, separated by types into different categories. Each of these categories is clearly explained, with tables containing all relevant assets and their particulars.
All of the most sought after instruments are covered, and here are a few examples:
A number of different trading account types are available for FXBitCapital traders. They are separated by account management availability, maximum number of lots in open positions, and some other details. PAMM, MAM and Copy Trading accounts are available as well, but sadly no Islamic trading account.
FXBitCapital offers these accounts:
The smallest deposit amount is $5, for a Classic account. Other account types require a $100 opening deposit, while later deposits can be $5.
A demo account is available for FXBitCapital clients as well. It can be created either through the website itself, or the MT4 trading application.
This is a very useful tool for testing different strategies. Users can speculate on the market without risking real money, and gather market data before investing.
FXBitCapital advertises a 0% deposit fee. The leverage can be adjusted on request, but most accounts feature leverage of 1:500 or 1:1000 by default. Leverage this high is quite risky, and may lead to rapid asset loss. Just as a reminder, we will mention that regulators in the EEA impose a max leverage of 1:30.
Starting spreads are 1.0 Pips for most popular tradable assets. This is the current average in the industry, although some brokers offer lower spreads. Overall risk of slippage is not high with FXBitCapital.
The costs of rollover fees are a mixed deal. Popular assets like EUR/USD have swap long of -6 points, and swap short of -2 points. Some assets like USD/RUB have a swap long of -1546, while swap short is +516 points.
For help with asset recovery from FXBitCapital, contact our chargeback experts via the live chat.
FXBitCapital is a forex broker that does have a license, but in a very loose regulatory jurisdiction. One of the major problems with FXBitCapital is that their Terms & Conditions page cannot be reached.
The company has been operating for 3 years without any license, and uses personal account managers. This has prompted CBR from Russia to issue a public warning about FXBitCapital.
Many people report serious problems with FXBitCapital withdrawal. If you have deposited funds with FXBitCapital, consider seeking legal help in recovering your assets. Our team of professionals is on hand 24/7 via the live chat, and you may book a free consultation at any time.
Although FXBitCapital is a licensed broker, we need to remember that they have been operating with no license for 3 years. They are also blacklisted by CBR.
Besides regular trading accounts called Classic, Pro and VIP, FXBitCapital also offers PAMM, MAM, and FXBitCopy trading accounts.
The affiliate program at FXBitCapital is very similar to MLM marketing schemes. Affiliates and Master Affiliates earn funds for each traded lot by the people they’ve recruited to the platform.
It is unclear how much FXBitCapital charges for withdrawals. Their Terms & Conditions document cannot be reached. If you have problems with FXBitCapital withdrawal, contact our staff for help with chargeback.
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