Beware! Trade Capital Market is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Trade Capital Market wants you to believe that this is a trusted global broker. Yet, to blindly trust a broker is like throwing your money to the wind, so we are going to check all the facts before we decide whether to trust this broker or not.

Trade Capital Market Regulation and safety of funds

Trade Capital Market has an address in Belize where forex brokers are regulated by the International Financial Services Commission (IFSC) of Belize. We checked the register of IFSC and the name of the company did not appear to be in it. Our conclusion is that this broker is not registered and not licensed by IFSC and as such cannot be trusted.

If you are not familiar with Belize brokers, we can tell you that they must have a minimum operational capital of $500,000 which is a very substantial amount of money that can make sure that scammers won’t sneak in. In addition to that, IFSC rules require that clients’ funds are kept in segregated accounts. However, IFSC does not regulate brokers at the same level as FCA, CySec or ASIC do as it does not have the operational capacity to regulate international companies.

For your peace of mind when selecting a licensed and reliable broker to trade with, we suggest that you turn your attention to the EU and the UK where the best conditions for forex trade exist. The Financial Conduct Authority (FCA) and CySec in Cyprus are strict regulators and forex brokers must jump through various hoops in order to get their license. First of all, they must have an initial capital of no less than 730,000 EUR. In addition to that forex brokers must keep their clients’ funds separately from their own with tier-1 bank establishments, provide negative balance protection, keep low leverage, report transactions on a regular basis for the sake of transparency, etc. One of the biggest perks in trading with EU and UK brokers is that they must participate and deduct funds towards a local compensation fund or scheme from which clients can be reimbursed if the broker is insolvent. UK brokers participate in the local Financial Services Compensation Scheme from which every client can get up to 85,000 GBP if the broker goes bankrupt. On the other hand, by participating in a local investor compensation fund, EU brokers are able to provide compensation of up to 20,000 EUR per client in case of bankruptcy.

Trade Capital Market Trading software

Trade Capital Market trades in forex, indices, metals, commodities and cryptocurrencies and the trading software at clients’ disposal consists of the MetaTrader 5 trading platform. Below is the image of what the demo account of MT5 looks like. On the left-hand side is the menu with the trading products with their bid/ask price and beneath is the navigator for opening the accounts, indicators, expert advisors, scripts and services. In the top horizontal bar are the buttons for the charting options, algo trading and placing trade orders. The bottom horizontal bar is for the code base with customs scripts, the financial calendar, the app market, trading signals, etc. As you can see, compared to other platforms, MT5 offers a lot of advantages to the traders and helps enhance their trading experience.

In the middle of the screen, you can see displayed 4 charts of 4 currency pairs shown with the fluctuation in price in a given time frame. If we take a close look at the top-left chart, we’ll see that it shows the EUR/USD currency pair. From its bid/ask price we find out that the spread is 0.2 pips which is tight and beneficial for traders.

On the other hand, the parameters of the leverage as shown in the last image, are very high and for the solo account, the leverage is 1:1000. Trading with such high leverage will present a huge risk for the clients’ funds as the scope of financial loss in case of unsuccessful transactions will be amplified by the high leverage. Compare this leverage with the maximum leverage of 1:30 which EU and UK brokers can offer for forex currencies. The cap on leverage for these brokers is another measure to protect clients’ funds and prevent traders from entering risky and reckless trades.


Trade Capital Market trading platform


Trade Capital Market Deposit/Withdrawal methods and fees

The image below shows that there are 5 trading accounts – Solo, Elite, 0 Spread, Optimum and Prime. The minimum initial deposit for the Solo account is $10. The other accounts start at $100 for the Elite account, $1,000 for the 0 Spread and Optimum accounts and $10,000 for the Prime account.

The deposit and withdrawal methods that clients can use consist of payments made via OK Pay, FasaPay, WebMoney, Perfect Money, bank transfer and Neteller.

Unfortunately, there is no Terms and Conditions document to find out more facts about the withdrawal methods, minimum withdrawal amount and any related fees. Needless to say, a licensed and reliable broker won’t omit to put such a crucial document on its website. And here is another reason why Trade Capital Market cannot be trusted.


Trade Capital Market trading accounts


How does scam work?

If scammers make a movie, it will probably be called “Dream on”. They make everything sound credible and build their scam on your dreams of getting an easy and quick profit. People get duped if they decide to deposit money into one of the scammers’ schemes. What you probably do not know is that your hard-earned money goes as commission to the scammers. Next, you get inundated by daily calls. First, the scammers congratulate you for joining their business, next they try to persuade you to invest even more money. After all, the more money you send, the bigger money fall you can expect. This of course is not how things work. By the time you realise that no money is coming your way, it might be too late. All you want now is to get your money back and get out of there but the scammers have other plans for you and they won’t late get away so easily. Now they try to delay you so that you miss the deadline for a chargeback.

What to do if scammed?

If you get scammed, our advice is to act immediately and if you have paid your deposit via credit/debit card you may still have a chance. Visa and MasterCard allow you 540 days time limit to file for chargeback which gives you a fighting chance to recover your money.
However, if you have used bitcoin or bank wire for your payment, the chances of you recovering your money are really slim.
Cancelling your credit/debit card in case you have given the scammers your CVV code may be another good idea. Also, make sure to remove from your PC any software that my give scammers access to your private data stored on your computer.
Whatever you do to recover your funds, beware of the so-called recovery agents. Please make sure that you are dealing with a genuine one by checking their credentials and company’s information transparency. Otherwise, you may fall victim to another form of scam.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *