Fxcape positions itself as one of the largest CFD trading brands and a global broker, claiming to have been in operation for over 9 years. However, the number of reviews is too low, which contradicts such bold statements. Additionally, the company talks about having offices in several countries, but fails to provide any proof of this, such as missing registration documents. Let’s take a closer look at this organization, examine its trading conditions, and evaluate the presence of positive and negative signs. Can this broker really be trusted?
How to Trade
Clients can trade CFDs on stocks, currency pairs, metals, indices, commodities, and cryptocurrencies, including NFTs. The minimum deposit is $250, which varies depending on the chosen tariff, as do other conditions. Fxcape offers traders 6 types of accounts:
- Basic. Spreads from 0.9 pips, no deposit and withdrawal fees, leverage up to 1:500, $5 commission, and minimum volume from 0.01 lots.
- Pro. From $10,000. More favorable spreads, a swap-free option is available, and added benefits include weekly market reviews, a dedicated account manager, weekly live streams, and webinars.
- Gold. From $25,000. Even more advantageous conditions. Zero commission, daily signals, a portfolio manager, in-depth research, and 1-on-1 analyst support.
- Platinum. From $50,000. Same benefits as the Gold account, but additionally includes a customized account and membership of the expertly-managed account.
- Diamond. From $100,000. Owners of this tariff receive even more favorable conditions from Fxcape.
- VIP. From $250,000. Upon request.
Fxcape Vital Info
The company claims to have been operating for over 9 years, which, to put it mildly, does not correspond to the domain registration date. The domain was created in October 2023 – how did the broker operate without a website for all these 9 years? Seems strange, doesn’t it? Moreover, there are suspiciously few reviews online. Honestly, there are almost none. For the same reason, the fact stated on the Fxcape website about 3,000 active users monthly is also highly doubtful.
The broker lists several jurisdictions where its offices are supposedly located: the United Kingdom, Hong Kong, and the UAE. Also, at the bottom of the site, you can see that Fxcape is regulated by the Central Bank of the United Kingdom and HMRC. However, why is brokerage activity regulated by the Central Bank, when in the UK it is the FCA that is responsible for this? Quite strange statements from the company.
It looks like a very good broker! Adequate requirements for a minimum deposit. Regarding guarantees, it seems like everything is there: experience, licenses, 4 offices, more than 3000 active traders. Standard conditions. Where will you find better? Almost nowhere. Either zero commission but large spreads, from 3-4 points minimum, or low spreads but high commission. So I don’t see anything particularly bad here. It seems like a normal firm.
I thought I was the only one having trouble withdrawing money from Fxcape, but no. I read other people's reviews, and everyone has a similar problem with withdrawing money. I, like many other not-so-smart traders, fell for the scam, believed that there were licenses from the Central Bank, that there was extensive experience, many clients, and that this was the best firm.
However, in reality, it turned out to be different. There are no licenses, and the managers ignore you. The withdrawal of funds doesn’t work. How to get your money back is unknown. I have the same problem as other traders who have invested money and now can’t withdraw it. Learn from the mistakes of others, not your own. Some people have had a sad experience, at least don’t let it happen to you.
Don’t even listen to what the fraudsters and criminals from fxcape.com will tell you. All their words are a scam, sweet lies to extract more money from you. It is a scam company that was created less than a month ago to swindle trusting people out of their money. Please, once again, DO NOT INVEST HERE!!!!
How to withdraw money from fxcape? I foolishly chose the wrong broker. I chose this fraudulent firm and invested $500 here. I tried forex, but it didn’t work out. I submitted a withdrawal request, it was a week ago. Since then, nothing has happened. Nobody contacted me, and the money is still in the balance. Nothing is happening with the withdrawal request. It's as if they are simply ignoring me, and they don’t want to process the withdrawal.
Has anyone else faced a similar situation with fxcape? It is the first time I’ve encountered this kind of problem. I don’t know why I chose this particular brokerage organization, but apparently, it was my grossest mistake. I'm really afraid to lose $500; it’s a significant amount for me.
I regret trusting this broker Fxcape, as instead of safe trading and beneficial conditions, I got fake charts and a fake platform where I can’t trade to earn money at all. Huge commissions, and on top of that, I have to pay spreads every time I open a trade. Very unfavorable conditions. And to get somewhat normal conditions, it seems like you need to open a more expensive tariff. But the requirements for the minimum deposit there are so high that I can't afford it.
Fxcape seemed to me like a safe broker, but it turned out to be some kind of scambroker. Honestly, they promised one thing, but in fact, everything is completely different. Huge commissions, huge spreads, poor terminal performance. I don't know, my patience will soon burst, and I will withdraw money. I really hope that they will return my money to me. Well, just in case it’s some kind of scam.
This is 100% scammers! No doubt that FXCAPE is a fraudulent organization that pretends to be a reliable broker but actually steals money. Don’t believe their words. They are just crooks, that’s all!
I tried to find some reviews about FxCape, but I couldn't find anything sensible. Are there any comments at all? Has anyone traded here? Where are these 3000 active clients that are written about on the website?
It only took me a few days of trading here... FxCape is really some kind of unprofitable broker… very huge commissions... and there are also restrictions on available instruments... the trading platform leaves much to be desired... they could have provided an alternative... conditions, platform – it's very bad here... I didn't check the withdrawal, because I lost my money faster than I earned...
100% scam, don’t even waste your time. Listen to me, an experienced trader. I’ve gained a lot of experience in trading, I’ve been through a lot. I can see right through a fraudulent broker, and this is 100% a scam broker. There is no license here, and the office addresses are fabricated. I’m telling you, you will lose everything down to the last penny if you invest here!
Firstly, no such company as FXCape in the Companies House. You can check for yourself if you wish. And there is no other legal entity name, so no legal entity is found under this word. Secondly, just in case, I checked the FCA register; no such company here. It was actually illogical to do, because if there is no legal entity in the UK, it is obvious that there will be no license from the British regulator. Thirdly, no licenses from regulators in the UAE and Hong Kong. I checked the registries of the controlling authorities of these countries; FXCape was not there either. Fourthly, the information about having more than 9 years of experience is fake. It is 100%. It can’t be like that. Too few reviews, and the domain is very fresh. Fifthly, it looks like an outright scam: the email doesn’t arrive during registration, there is no demo account, and the minimum deposit is very high. Here’s a mini-exposure of scammers for you.
A $5 commission? Where does Fxcape get such conditions? And in addition to these commissions, you need to add spreads from 0.9 pips. So, how much do you have to pay to open a trade? The conditions are just too unreasonable. I think commissions and spreads need to be cut in half to be somewhat reasonable. Fxcape just doesn’t create competition for other firms that offer more loyal commissions and spreads. The leverage is too high, so I think they hardly have any regulation. I doubt the British regulator would have approved such high leverage. And here it’s 1:100, 1:200 and even 1:1000. Some kind of nonsense. In general, the broker raises more questions than answers.
Until they have a license specifically from the FCA, I won't set foot here!!! Any broker claiming registration in the UK must obtain a license from the FCA. There is no such thing here, so no sense in trading. The company can easily turn out to be a scam broker.