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CapproFX is a brokerage service provider established in 2013 in Hong Kong. It also has an office in the United Kingdom. It is not clear that this broker is being regulated or has any operating license. Unfortunately, this puts a big question mark on the honesty, integrity, and reliability of the broker.
Like most brokers based in Europe, traders from the United States are prohibited from the platform. However, the good news about the broker is that it has demo account for newbies and its trading platform is Meta Trader 4.
Apart from the demo account, CapproFX offers 4 types of live accounts which are Mini, Standard, ECN, and VIP Accounts. The major difference among the accounts is their minimum initial deposit. The Mini Account accepts $10, Standard takes $500 while ECN and VIP Accounts accept $2,000 and $25,000 respectively.
This broker offers Islamic accounts and PAMM services. Various CFDs as well as more than 60 currency pairs that do not include any cryptocurrency are traded on the platform. In addition, several precious metals are also traded. Whether you are operating a live account or a demo account, you will be trading on MT4. There is a version for PCs and another one for mobile devices.
You can contact their customer support team through Skype, Live chat, Phone call, and online contact form for callback. Their trading server operates GMT time zone. Traders are also allowed to make use of expert advisors. The payment methods offered by the broker are UnionPay, PayPal, MasterCard, Visa, Skrill and Bank transfers. The withdrawal methods are PayPal, UnionPay, Neteller, Skrill, Debit Card, Credit Card and bank transfers. What attracts most traders to this broker is the availability of commission-free trading.
Support of cryptocurrencies
This broker does not support cryptocurrencies in any form, at least for now. Clients canâ€™t deposit with digital coins and neither can they receive payment through the same method. Most of all, no digital coin is traded on their platform.
- The broker offers multiple deposit and withdrawal options and they include PayPal.
- They offer Islamic accounts.
- Expert advisors and PAMM services are allowed.
- Trading is done on MT4.
- Demo account is available for beginners.
- They conduct webinars for their clients.
- There are 4 types of live accounts.
- There is NDD execution.
- Their spreads are competitive.
- Their platform has been optimized for mobile so you can trade on the go.
- Their trades are commission-free
- The biggest disadvantages is that this broker is not regulated and does not hold any operating license.
- It does not offer any support for cryptocurrencies.
- It offers only MT4 so there are no trading platform options.
- Their website supports only English language.
- They offer support in only English language.
- Traders from the United States are barred from the service.
- There are many negative reviews about their service.
Regardless of how many advantages this broker offers, not being regulated and not having an operating license collectively outweigh the advantages. This means that they can disappear with traders' funds anytime and no authority can question them. Although the broker is not recommended, if you want to trade on their platform because of their advantages, donâ€™t deposit more money than you can lose and never let your money accumulate. Continue to withdraw your profits.