GotCapitals is an unregulated broker that claims to offer traders a powerful and advanced trading platform technologies as well as other benefits. Read this Gotcapitals.com review before deciding to trade with them.
It is common for Forex brokers to claim that they provide the best trading environment in the market. 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 towards deceiving traders and stealing their funds. Therefore, 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.
According to their terms and condition, this broker is operated by GotCapitals Ltd and registered at Saint Vincent and the Grenadines. However, their contact address shows that they are located at Australia. They offer three investment packages which are starter plan, premium plan and Diamond plan. They trade assets such as forex, commodities, indices, stocks, energy and cryptocurrency.
Why you should avoid GotCapitals
We found the following disturbing information about Gotcapitals.com after going through the website.
GotCapitals.com licensing and regulation.
An important aspect of our review is to find out whether or not a broker holds a license from any of the recognized forex regulatory authorities. First, look at the region or location where the company or broker claims to be based, then we check the commission or authority regulating trade there to know whether that company has been listed among their regulated companies or not. For instance, FCA is the regulatory body overseeing the operations of forex brokers located in the UK while Australian forex brokers should be regulated by ASIC.
Unfortunately, GotCapitals is operating without a license from ASIC. They go against the rules set by forex regulators. Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, ASIC, NFA and many others have regulations protecting Forex traders from unfair brokers.
This broker says that they are registered in Saint Vincent and the Grenadines. However, one thing to take note of is that authorities in Saint Vincent and the Grenadines does not issue licenses or regulate the activities of brokers located there. This is why it serves as a hiding place for unreliable brokers. Trading with an unregulated broker is a huge risk. Therefore, we do not trust this broker.
GotCapitals deposit and withdrawal method.
GotCapitals accepts a minimum deposit of $500. There is no information on the fees they charge on deposits and withdrawal. Deposit methods are through direct bitcoin deposit, bitcoin and wire transfer via Instacoins while Bitcoin is the only withdrawal method. However, the disadvantage of using this payment method is that cryptocurrency such as Bitcoin does not permit traders to request for refund. There is no way to trace transactions made through cryptocurrencies.
GotCapitals trading platform.
This broker says they make use of the MT 4 platform. Metatrader 4 and 5 platforms have become popular due to the fact that they are user friendly and can supports device such as Android, iOS and many others. However, since they did not provide a link to download this platform, we are not convinced that there is actually an available trading platform.
There is also no information on the leverage and spread they offer. So far, you can see that there is no reason for you to trust this broker. Omitting vital information about their services is enough proof that this broker is not worth your funds.
Conclusion: Is GotCapitals worth your money?
No. Gotcapitals.com is not a reliable broker. They lack transparency. Moreover, they are not regulated by any of the recognized regulatory authority. Therefore, we do not recommend this broker. We advise you to only invest with licensed brokers to avoid regrets.
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. They offer trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Most importantly, the Financial Conduct Authority(CFA) in the UK as well as ASIC in Australia are the regulators of Fortrade. This makes makes client funds safe. They accept traders worldwide..visit their official website