Beware! Azura Capital is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Azura Capital presents itself as a “pioneering broker that dares to challenge conventional norms, revolutionizing the world of trading”. In preparing this review, however, we found that this website is trying to achieve this by being a scam.
Let’s take a detailed look at why it’s in your best interest to stay away from Azura Capital and how you could find a truly trustworthy forex broker.
Azura Capital Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.
Azura Capital does not disclose who is behind the website. Nowhere is the name of a company mentioned, including in the text of the Terms and Conditions. The document lists Australia as the applicable jurisdiction.
Among the companies registered in Australia there is one with a name close to Azura Capital, but we have no evidence that it has anything to do with the website. The Australian registry does not provide information on the domains through which financial service providers operate, which many fraudsters take advantage of. The contact addresses listed for the company and on the Azura Capital website are different.
Financial authorities in another country, the United Kingdom, confirm our suspicions that Azura Capital is a scam.
When choosing a broker through which to invest in the financial markets, you should not only make sure that all the information required by law is available, but also that this information is true. Always check that the company is indeed on the records of the specified regulator and that the domain used is among those officially approved for the particular broker.
Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).
Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds. In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.
Azura Capital Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Azura Capital platform||❌||❌||❌||❌|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Azura Capital promises high-tech software solutions, but we have not been able to verify if any trading software is available. The reason for this is that account registration requires a promo code. Financial scammers sometimes prefer to handpick their potential victims through social networks and online forums, which is why they do not allow free registration. Genuine brokers allow easy Demo account creation.
It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.
Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Azura Capital Trading instruments
Azura Capital advertises trading in a large number of financial instruments including forex, cryptocurrencies, stocks, indices, commodities and NFTs. But as noted, there are no guarantees that the trade offered by this anonymous and unregulated website is real. In fact, you can be absolutely certain that it is fictitious.
Azura Capital Spreads and cost of trading
Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc.
On the Azura Capital website we see a list of trading accounts, but their descriptions lack information about trading cost.
Azura Capital Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets. The same rules currently apply to Australia. In the US, the maximum limit is slightly higher at 1:50.
Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.
If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.
Azura Capital Deposit and withdrawal methods
Due to our inability to register an account, we were unable to ascertain what payment methods Azura Capital uses. Experience has shown that fraudsters direct their potential victims to cryptocurrency transactions that do not allow refunds to be requested.
Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.
Azura Capital Minimum deposit
Azura Capital requires a minimum investment of 1500 EUR. For a much lower amount you could become a client of a reputable and regulated forex broker.
Azura Capital Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Azura Capital||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Azura Capital does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.