Capital Seven Review
The broker Capital Seven endorses itself as a safe, trusted, and secure brokerage services provider. The broker is operational from overseas offering fix distinct trading accounts. It also claims to have strength in CFDs over cryptocurrency with a web-based trading platform. Whatever the claims of this broker may be, we came across many critical issues while researching this broker. In this Capital Seven review, we will discuss all of them one by one.
About Capital Seven:
The offered five trading accounts are Green, Premium, Platinum, Executive, and Presidential with a minimal initial fund requirement of $5000, $10000, $50000, 100000, and $250000. Unfortunately, the values of the provided maximum leverage and spreads are not mentioned in the presentation of the official website. To retrieve unbiased and informative review we always try to debate on the advantages and disadvantages of broker under consideration. The broker offers CFDs over 800 cryptocurrencies and its very diverse selection of it.
The broker Capital Seven does not offer information on its corporate background. We could not find basic information about the owner of the broker, address of the company, and license of details. The website is completely anonymous. Anonymity is the major hint of any scam broker. We only came across the client’s agreement that says the claims and disputes with the Capital Seven will be solved by Bulgarian laws. It means the broker comes under European Union. And Bulgarian brokers must be regulated by native Financial Supervision Commission. However, we could not find registration of Capital Seven with FSC. It means the broker is unregulated. Furthermore, the broker Capital Seven has received scam warning against it by the Financial Conduct Authority, UK.
The broker acts as a market maker and benefits from the loses of the traders. It also applies unusual withdrawal conditions and fees. 33% of the withdrawal amount is applied to every withdrawal. Also, the withdrawal time is ridiculously 60 business days it means for two and a half months traders could not get their own investments. We have mentioned the required minimum investment above and that absurdly high. The broker does not support trading on MetaTrader.
Is Capital Seven scam or legit?
The broker Capital Seven is not regulated and blacklisted by the top financial regulator financial conduct authority. The trading conditions are unknown and the initial investment is absurdly high. No demo account offered. This leads us to claim that the broker Capital Seven is a potential Australian trading scam.