CAPITAL WEALTH REVIEW
Wealth Capital FM is an offshore forex broker with four types of trading account. This broker does not provide clear trading conditions. The broker claims to be based in Estonia and does not have a valid license as a brokerage provider. Hence, it is unregulated. In this Wealth Capital FM review, we will give an in-depth analysis of broker’s offerings, corporate and regulatory conditions. So, our readers can decide whether to invest in Wealth Capital FM or not. Read the full Capital wealth review here.
About Wealth Capital FM:
The Wealth Capital FM provides numbers of assets, and traders always welcome that. It gives traders a diversified product portfolio. The broker provides various asset classes, containing FX, and also stocks, indices, many commodities, and cryptos. All of these can be trade in the form of CFDs. The broker promises traders can avail higher leverage level of 1:500. However, while performing a fact check, we came across 1:200 leverage ratio. Both leverage ratios are quite higher and beneficial. Contrary, such higher leverage ratios can be a higher risk.
The Wealth Capital FM website sheds light on the owner of this broker. The Astra Consulting OU, Estonia is the owner and operator of Wealth Capital FM. The brokerage provider claims to be regulated by the General Data Protection Regulation. The claim of the broker is invalid as any financial regulatory body can not replace GDPR. The Estonian Financial Supervision Authority (EFSA) refuses the regulation and supervision of this broker. Also, no other EU based financial organization regulated Wealth Capital FM. In addition to this, Australia’s ASIC issued a warning against it.
As mentioned in the introduction, Wealth Capital FM does not disclose its trading conditions adequately and clearly. The reference spreads are undisclosed in the first place. Also, The information about provided leverage and actual leverage are contradicting to each other. Furthermore, the actual minimum investment required to open the primary account is Euro 5000, contradicts the information of the Account Type section, that reads only Euro 250 is required. Also, the spread on EURO/USDOLLAR is at 2.8 pips and is high and unfavourable for traders.
Altogether, Wealth Capital FM does a poor job in presenting its services, products and other offerings. It leads us to believe the broker is a potential scam. The trading platform offered by this broker is some web-based userfriendly, oversimplified platform. Such types of platforms used for the Binary (Cryptocurrency) tradings. The traders will surely miss the most popular MetaTrader platform with Wealth Capital FM.
Is Wealth Capital FM scam or legit?
Wealth Capital FM is an offshore-based, online, unregulated and low credible broker. The offerings of services and products are feeble and unattractive. We assume that the broker is a potential forex scam broker.