First Capitals is a forex broker that claims to offer a variety of trading services, including CFDs, forex, and cryptocurrencies. However, there are a number of red flags that suggest that First Capitals is a scam broker.
Company Overview
First Capitals is a relatively old broker, having been established in 2007 in London, United Kingdom. The company is registered with the Cyprus Securities and Exchange Commission, a known offshore tax haven. First Capitals does not have any licenses from any reputable regulatory bodies.
Does First Capitals Have Any License?
Is First Capitals Regulated By Any Authority?
First Capitals claim that they are regulated by the Financial Sector Conduct Authority (FSCA) of South Africa and the Financial Conduct Authority of the UK. Let’s check the FCA database.
We found that their claim is false. It proves that they are not actually regulated by any organization.
Pros and Cons
Pros:
- The minimum deposit is low.
- There are a variety of trading instruments available.
Cons:
- The company is not regulated by any reputable authority.
- There are a number of red flags that suggest that First Capitals is a scam broker.
- The withdrawal process is slow and difficult.
How Do First Capitals Reach To Their Prey?
First Capitals use a variety of methods to reach their prey. They often target inexperienced traders who are looking for a way to make quick money. First Capitals will often make false promises of high returns and easy profits. They may also offer free trading signals or webinars in order to lure traders in.
Technical Details
Minimum Deposit:
The minimum deposit for First Capitals is $100.
Trading Platform:
First Capitals uses the MetaTrader 4 trading platform. This is a popular platform that is used by many other forex brokers.
Spread:
The spreads at First Capitals are variable. This means that they can change depending on market conditions.
Leverages:
First Capitals offers leverage up to 1:500. This means that you can control a position that is 500 times larger than your initial deposit.
Packages and Products They Offer
First Capitals offers a variety of trading packages, each with its own set of features and benefits. The most basic package is the Starter Package, which offers access to the MetaTrader 4 trading platform and a demo account. The most advanced package is the VIP Package, which offers access to a personal account manager, exclusive trading signals, and a dedicated trading desk.
Withdrawal and Deposit Method
First Capitals offers a variety of withdrawal and deposit methods, including credit cards, debit cards, and wire transfers. The withdrawal process is slow and difficult. Traders have reported waiting weeks or even months to receive their withdrawals.
What Do Their Previous Traders Say?
The reviews of First Capitals from previous traders are overwhelmingly negative. Many traders have complained about the slow withdrawal process, the high fees, and the lack of customer support.
Summing Up- Why Should Not You Trust First Capitals
There are a number of reasons why you should not trust First Capitals. The company is not regulated by any reputable authority, there are a number of red flags that suggest that First Capitals is a scam broker, and the withdrawal process is slow and difficult.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to First Capitals, you may be able to recover your funds through a chargeback or arbitration. You can also contact a financial recovery company for help.
You can contact us for a quick and reliable solution. We provide free consultation calls and recovery service recommendations to help in recovering the lost funds.
If you have lost money to First Capitals, please contact us for a free consultation. We can help you understand your options and recommend a recovery service that can help you get your money back.
File A Complaint Against Scam Broker's
Final Thoughts
First Capitals is a scam broker that should be avoided. If you are considering trading with First Capitals, I urge you to reconsider. There are many legitimate forex brokers out there that you can trust.
We provide free consultation calls and recovery service recommendations to help in recovering the lost funds.
If you have lost money to First Capitals, please contact us for a free consultation. We can help you understand your options and recommend a recovery service that can help you get your money back.
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