Whenever you are about to start your trading journey with a broker, several facts can affect your decision greatly. From how transparent the brokerage is, how well regulated their conduct is and just how attractive the trading conditions they offer are. Well, let us tell you right off the bat – CapitalsWise displays a distressing lack in all of the mentioned aspects.
In contrast to the idea of supposedly providing clients with superior services and support, CapitalsWise, in essence, doesn’t care about their customers. Run by an unnamed company and following suspicious business ethics, this broker isn’t regulated or known for their kindness to traders.
So what are the exact risks you take when you sign up for an account at CapitalsWise.com? Also, you’re probably wondering how protected you are… if you’re protected at all. Read all about it in our CapitalsWise review ahead.
| Regulated by: | Unregulated Forex Scam |
| Is This Company Safe? | Unlicensed companies are not safe |
| Known Websites: | capitalswise.com |
| Have Warnings from: | N/A |
| Registered in: | UK (alleged) |
| Operating since: | 2022 |
| Trading Platforms: | Webtrader (alleged) |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $10,000 |
| Deposit Bonus: | Up to 100% |
| Trading Assets: | Forex, CFDs on commodities, indices, crypto |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Scam companies earn by ripping off traders, they’re not likely to allow withdrawals! Contact us and official authorities for help in retrieving your funds. |
How is CapitalsWise Regulated?
CapitalsWise has made a terrible mistake by claiming to be registered in the UK. This country’s financial world is governed by the FCA rules, which are one of the strictest in the world. FCA – Financial Conduct Authority is ruthless when it comes to licensing brokers and supervising their activities. The regulator also keeps a continually updated database of regulated brokers and you can check for yourself and see that CapitalsWise is not in there.
There’s no other way to operate legally in the UK except by being authorized by FCA. CapitalsWise clearly isn’t so we tried with several other regulators, like CySEC, ASIC, BaFin, CONSOB and CNMV. Unfortunately, the results were the same, just like with FCA. At this point, we’re confident that CapitalsWise doesn’t have an obligatory Tier 1 license.
Whatever company is behind CapitalsWise, they do not provide the mandatory standard of safety. First in the line are segregated bank accounts for clients’ deposits. CapitalsWise prefers to keep all investments on a joint bank account so they can access and abuse the capital invested by their users.
Next red flag is the lack of transparency. The CapitalsWise clientele doesn’t get detailed info about the general trading conditions, such as leverage, fees, swaps, and funding methods. The leverage in the heavily regulated areas is limited to 1:30 or 1:50 most, while CapitalsWise doesn’t even reveal theirs. Unscrupulous brokers also do not provide negative balance protection or compensation funds, which is yet another way of pushing clients into loss.
Now that we’re certain that CapitalsWise is not regulated, all we can recommend to you is to absolutely stay away. No matter how persistent their agents may be or how attractive their offer sounds. Anything you’ll ever come by at CapitalsWise is a loss.
Who are CapitalsWise’s victims?
CapitalsWise hasn’t been operational for a full year yet. Despite the short history of conduct, they have still managed to defraud a disturbing number of traders. Most of the victims of their scam come from the following countries:
- Canada
- United Kingdom
- Netherlands
Do not be afraid to speak up if you reside in any of the mentioned states and were defrauded by this broker. We’re well aware how friendly and nice they were to you until they robbed you. As all boiler room agents do, CapitalsWise officials tend to be the sweetest and nicest people you’ve ever met. Do not forget this is just a facade, though.
While working their way to your pocket, scam agents will offer you all the things you’re looking for and make you believe only they can provide them. Best trading conditions on the market, most reliable software, most competitive fees, bonuses and quick withdrawals. Swindlers will promise you all that and more.
During the process, they might even trick you into installing some remote control software – AnyDesk and/or Teamviewer. Careful with those, as scammers look for an easy way to access your sensitive info and perform an identity theft!
Traders Reviews and Complaints
This is the interesting part where we can see another scam technique at display. In order to fakely boost their reputation, CapitalsWise uses paid reviews. Obviously, the fraudulent company tries to mask their real goal. CapitalsWise does so by attempting to build an unrealistic image of themselves. Swindlers achieve that by paying reviewers to leave positive comments or simply by using bots that do so instead. There are many ways, yet the final goal is the same: deceive as many investors as possible.
With only 16 reviews in total on TrustPilot and not nearly genuine-sounding comments, we do not believe any of the ratings are true or credible. Beware of such things that push traders into investments. If you’re uncertain, check with your jurisdictional regulator or contact us for more info on a broker.
Fees and Commissions
Unregulated brokers are known to offer very low pricing and incredibly favorable trading conditions, only to slam you with insane fees and charges when you try to withdraw. Unlike regulated brokers which earn their income through micropayments like spreads and swap, these swindlers simply rob you.
CapitalsWise make their Terms and Conditions purposely vague, and don’t outline the withdrawal fees. This way they can charge extremely large amounts of money for things like currency conversion and such. That way, even if they do approve your withdrawal you never recover your initial deposit.
Are There Any Bonuses Available?
CapitalsWise do not offer any bonuses to their clients. Not overtly, anyway. This goes hand in hand with their allegations that they are based in the UK, which does not allow bonuses. Don’t let this fool you into believing this is even remotely close to fair play. These predators will pounce when you least expect it.
CapitalsWise Features and Trading Conditions
This broker is about as transparent as a lump of coal. CapitalsWise.Com is quite lacking in the information department. You can see how the scam unfolds from here – keep the victims guessing until it’s too late. Bingsaub is an unscrupulous broker that does this as well, so we’ve reviewed them too, if you’re interested in finding out more.
When we compare this to how regulated brokers operate, the difference is obvious. The transparent and well defined trading conditions are not just business courtesy but a necessity.
Available Trading Platform
CapitalsWise only offers the most basic Web Trader to their clients. This web oriented application does not require any downloads or an installation, it can be run directly from your Browser.
Scammers don’t use it because of how practical we find it, but because of how easy it is for them to manipulate the market information. They will deliberately change the market positions and make you lose the money you invested sooner than you can blink an eye. Handelex is another fraudulent company we reviewed which uses the same strategy.
Security should be your main concern when selecting a broker. We remind our readers to always double-check the broker regulation first, and the availability of industry standard software, such as MT4, MT5 or cTrader second.
Is there a Mobile Trading App?
There is no discreet Mobile Trading App available at CapitalsWise.Com. You could say that it’s because the Web Trader they use can be accessed through any Web Browser found on any Mobile Device… But the reality is that these swindlers don’t want to implement a safe trading solution. You don’t need top-of-the-line software to steal from people anyway.
Choice Of Trading Accounts
When it comes to Trading Accounts at CapitalsWise, we can firmly say that they follow the unofficial Scam Broker rulebook. As you’d expect, the accounts are tiered, and the cheapest one costs $10 000 ! One additional difficulty for traders is that you can’t simply create an account and login to the CapitalsWise.Com trading application. You need to contact the broker via email first.
Here is how much CapitalsWise accounts cost:
- Silver – $10 000
- Gold – $50 000
- Platinum – $100 000
- VIP Club – $250 000
Is There a Risk-Free Demo Account?
Although CapitalsWise mentioned a Demo account on their website, we couldn’t find one among the account selection. The lack of this all-important tool is always a bad sign. Novices should always use a Demo account to learn in a risk free environment. More seasoned traders find it instrumental for testing new investment strategies.
CapitalsWise Trading Assets
Not much can be said about the Trading Instruments that CapitalsWise offer. The website has simple descriptions on what Trading Instruments are, but fails to mention which assets are available for trade.
With no Trading Account and access to the Web Trader, we could only guess what’s on offer.
Here is what little we could find out about the instruments at CapitalsWise:
- Forex – EUR/USD, USD/GBP, USD/JPY
- Cryptocurrencies – Bitcoin, Ethereum, Dash
- Indices – FTSE, S&P 100, S&P 1200
- CFDs on Commodities – Gold, Natural Gas, Uranium, Cocoa, Wheat, Livestock
Regulated brokers usually advertise in great detail which Instruments they offer. This is one of the most important facets of trade, and every retailer has their own preference.
Is Profit Withdrawal Possible?
Illicit brokers like CapitalsWise should not be trusted with your funds. We can tell you right away that you can dismiss any profits as another lure to make you deposit more money. That said, we have heard from many people that complain about the poor payout policy at CapitalsWise.
With no clear Terms and Conditions, the swindlers will invent any reason to block your withdrawal attempt. In the end, withdrawing from CapitalsWise.Com can prove quite difficult without legal assistance.
Customer Support
CapitalsWise.Com support is allegedly available through a professional customer service team 24/5. We seriously doubt this. There is no live chat on the website, and the only means of contacting anyone from the company is through email contact form. A phone number is given, but it’s a dead number to which nobody answers.
Key Information To Consider About CapitalsWise
Swindling traders and snatching their deposits right in front of them seems to be the main expertise of CapitalsWise. The unregulated and fully anonymous brokerages, such as this one, are a growing threat to every single retail trader.
However, there’s always an opposing side to every maliciousness. We’ve been successfully fighting scam and recovering funds for a long time. Our team of legal experts has what it takes to bring down the cyber thief and secure your investment that was originally stolen from you.
So, do not hesitate to get in touch. The first consultation is always free, while it provides useful info on how to act further. Do not wait – the longer you sit around despairing, the slimmer your chances to get back what you lost!
Is CapitalsWise A Scam Broker?
Yes, this anonymous firm is a scammer because they defraud customers, are not regulated and use malicious techniques of sorts. If you happen to be their victim, contact us promptly.
Does CapitalsWise Offer a Demo Account?
Opening any kind of account with this broker is impossible until you first submit a request for it. Since they do not mention any kind of Demo account of the site, we believe it is not available at all.
Does CapitalsWise Have a Mobile Trading App?
No, CapitalsWise supposedly only offers a webtrader, but without access to it, we couldn’t verify if even that exists.
