Although Elland Road Capital is regulated, we noticed an alarming number of complaints against the broker. We couldn’t just ignore it, thus we decided to write the Elland Road Capital Review.
This review is unbiased and relies on facts. Here you’ll read about the broker’s license, areas of activity, trading software, conditions, payment methods, and more.
However, the FSCA is a Tier 2 regulator and not as reliable as Tier 1 regulators such as the FCA, ASIC, CFTC, BaFin, etc. A bit laxer regulatory rules are in force in South Africa. Some reviews suggest that Elland Road Capital exceeded the scope of its license.
Whichever trading forum you open, you’ll find negative reviews of Elland Road Capital. Hence, there’s a strong case against this broker. If you’re still interested in trading with this broker, please take this information into account.
For tighter jurisdictions and safer trading conditions, check out brokers that operate under the European Securities and Markets Authority (ESMA), the UK’s FCA, US CFTC & NFA, or Canada’s IIROC.
Elland Road Capital has provided services to traders from all over the world. The broker was most active in the following countries:
Needless to say, Elland Road Capital’s license isn’t valid outside South Africa. Please be careful when investing to trade with brokers such as Elland Road Capital and TradeZero and always check whether the license is valid.
This is the reason we’re doing the Elland Road Capital review – client complaints. Many traders have been scammed by this brokerage and we want to prevent Elland Road Capital from claiming new victims. Sharing others’ experiences serves as a good warning.
Withdrawal issues seem to be a common theme, with some traders even providing evidence of fraud. The sites where we found these complaints are Trustpilot and WikiFX.
hi this company is bogus and its account manage MAHIR is one of the worst manager ever he robbed me 8k dollar , and my account has been washed off over night because of his stupidity…
For the first contact, I was guided to open an account with 250 US dollars on the phone. After that, I felt unsafe and didn’t want to invest anymore. I wanted to withdraw the $250 out but couldn’t…
Elland Road Capital offers the renowned MetaTrader 4 software. According to the broker’s website, traders can download this platform on their desktop, Android & iOS phones.
MT4 is an amazing trading platform with advanced tools such as automated trading and multiple timeframes. The platform also offers instant execution of orders. However, even MT4 is not enough to clear the broker’s name in this case.
Aside from MT4, Elland Road Capital also offers a browser-based trading terminal. This platform is pretty elementary and is not up to par with MT4.
Here’s an overview of QuoMarkets’ trading instruments from the website:
According to Elland Road Capital’s website, the Classic account’s spread for the benchmark EUR/USD pair is 2.5 pips. That’s too wide to be profitable, considering that the industry’s standard is 1.5 pips or lower.
On the other hand, trading crude oil costs 0.14 $, supposedly per lot. A favorable spread is available with the VIP account but we suppose the minimum deposit for that type is high. Elland Road Capital didn’t disclose the minimum deposits.
Elland Road Capital offers five different account types:
What’s suspicious here is that Elland Road Capital didn’t specify the minimum deposit amounts for the accounts. All we know is that the Classic account costs at least 250 $.
The spreads are not competitive at all. As for the leverage, Elland Road Capital’s cap is 1:400, which is extremely high, risky and well above ESMA’s limit of 1:30. A level that high often leads to devastating losses.
Yes, per the Client Agreement text. Elland Road Capital included a free demo account. That’s good news because traders have the opportunity to test things out before investing real money right off the bat.
However, we still recommend caution. Do not forget about the many complaints against Elland Road Capital.
Elland Road Capital provided a detailed withdrawal policy but it seems that traders had withdrawal issues nonetheless. As for the payment methods, Elland Road Capital listed three:
The minimum deposit is 250 $ and the broker charges only an inactivity fee. This fee depends on how long the client has been inactive and can range from 100 $ to 500 $.
Now it’s time for our verdict. We wouldn’t recommend Elland Road Capital simply because the broker was subject to so many complaints.
When that many traders experienced issues of a fraudulent nature, it means that Elland Road Capital is most likely a scam broker. Another broker we urge you to avoid is 360 Capital Ltd.
Do you have evidence that Elland Road Capital violated any terms and conditions? If yes, please notify our team about it. We will then report the broker to the FSCA. Global Fraud Protection will be your best friend throughout the chargeback process so feel free to call us.
If this broker steals your money, start the chargeback process. The easiest and fastest way to book a free consultation with our team is via Online Chat.
Although Elland Road Capital is regulated, there are many complaints against the broker and traders have lost their money.
Yes. According to Elland Road Capital’s Client Agreement, a demo account is available.
Yes. Elland Road Capital included both Android and iOS versions of MT4.
Apparently not. To reiterate, many traders have complained about being scammed by Elland Road Capital.
Although Elland Road Capital is regulated, there are many complaints against the broker and traders have lost their money.
Yes. According to Elland Road Capital’s Client Agreement, a demo account is available.
Yes. Elland Road Capital included both Android and iOS versions of MT4.
Apparently not. To reiterate, many traders have complained about being scammed by Elland Road Capital.
The post Why We Wrote the Elland Road Capital Review appeared first on Global Fraud Protection.
