Audacity Capital Review: this is the name of a Forex trader that claims to be located in the United Kingdom. Is audacitycapital.co.uk a scam or legit?
On the page of the company, they claim to offer traders the way to create the kind of life that they want. We found that it claims to be a company based in London, UK. Many who are familiar with traders in the Forex market know that the FCA is the commission that regulates brokers in the country.
However, when we searched the online page of the Financial Commission Authority, we did not find any mention of Audacity Capital. As no other license is mentioned on the page, we cannot confirm if they hold some other sort of registration number. We can only assert that they are not licensed.
Trading with unlicensed traders is a dangerous endeavor. We do not advise traders to patronize these kind of brokerages. Benefits that they state clients would gain by engaging them are as follows:
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
Audacity Capital Trading Platform
We do not find the type of trading platform that is offered by Audacity Capital on the page. Rather, we think it would be some other web-based platform different from the MetaTrader. This is not encouraging as some of them do not allow Forex robots to perform properly on them.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are just stated to be the major asset classes. This is not enough. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverages offered is not mentioned on the page and this is important. Some may seem generous but they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are not mentioned which we find discouraging.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on Audacity Capital
The means of making payments and withdrawals are not stated also. We find that of e-Wallets are likely to be missing, which is discouraging.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is not mentioned on the page and it is difficult to find if it is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Is Audacity Capital Licensed?
No. Like we mentioned above, we do not find any mention of a license on the website. But the location it is based in is regulated by the Financial Commission Authority and we do not find it listed on the page. We conclude that the broker is not regulated and is not trustworthy as such.
Unregulated brokers are dangerous as funds invested in them are not safe. Misappropriated funds may be difficult to recover with these kind of brokers.
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
To get in touch with the company or any of the customer care representatives, clients are to email: firstname.lastname@example.org or call: +44 (0) 20 8050 1985.
The broker is not licensed or regulated by any trustworthy commission. Most of the details we have come to associate legit brokers with are missing on the website. We do not find the minimum deposit requirement information as well as the payment means.
Traders are not advised to trade with this brokerage. Unless the details are sorted out, the rating of the broker will remain low.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
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