The broker BitcapCM endorses itself as world-leading forex and CFDs provider. It also claims to have ten years presence in the trading markets. It claims provides MetaTrader trading platform with No Dealing Desk execution and highly transparent trading. However, broker BitcapCM is not regulated and has several problems. In this BitcapCM review, we will share all the crucial information of this broker. Don’t miss any word of this unbiased and informative review.
The broker is operated and managed by KLDC Technical Systems that is situated on Marshall Island. Marshall Island is the area where many scam brokers operate. Also, licensing is this area does not require high documentation. The territory is not under the regulation of any financial body. The broker targets to European Union based traders. Keeping it’s unregulated and unlicensed nature the local financial regulator of Austria named Financial Market Authority has blacklisted BitcapCM. This aspect of BitcapCM is very alarming. Unregulated brokers most of the times turn out to be a scam broker. Traders will fail to gain any profit from such brokers and we highly recommend not to trade with them. The broker does not disclose any of the trading conditions. However, while testing a free demo account we see a spread of 1.8 pips on EUR/USD foreign exchange pairs. This spread is slightly high than what is acceptable. Also, 1:200 leverages are offered this is also more. Such high spreads and leverages are the main reason behind the high cost of trading at BitcapCM. The payments at BitcapCM can be made by many channels. These include bank wire transfer and credit card. The broker also claims to offer commission-free transactions. Sadly, electronic wallets like Skrill and Neteller are not offered. The broker also claims to provide many tradable assets but we saw very few trading assets. It means the broker misleads its clients and this should be taken seriously.
Is BitcapCM scam or legit?
The broker is operational from the Marshall Islands, home for many scam brokers. This territory does not fall under any regulatory overview. The broker is not regulated and unlicensed to provide brokerage services in regulated markets. The leverage of 1:200 and spreads of 1.8 pips are quite high. No trader can be beneficial from BitcapCM. In our view, BitcapCM is a potential scam broker 2020.