Capital Index Review
Capital Index may not be the worst option to trade Forex, but we certainly would not advise you to try this broker. Many negative Capital Index opinions are not accidental, which you will see clearly in this review.
About the Company
As we have discovered, Capital Index is a relatively new company which was founded in 2014. The company is known not only for its CFD trading services, but it is also specialized in the financial spread betting. Is Capital Index legit? Although Capital Index is licensed by FCA and CySEC, this does not really positively affect the quality of services. The offices of Capital Index are located in London and Limassol.
The website itself is poor in terms of design and functionality. The vivid example is the absence of any additional site languages except for English.
Capital Index offers 4 live trading accounts and a demo account. There are only three account currencies to choose here – USD, EUR and GBP. This is a pretty limited selection, so some traders may be obliged to go through extra currency conversions.
The list of real trading accounts is as follows:
Classic is the most basic account type available at Capital Index scam. The account provides access to CFD and spread betting. The maximum leverage is only 1:100 for Classic account, whilst the spreads are fixed – 2 pips. Other features include free seminars, free webinars and the possibility to hedge positions.
The advanced account is not much different from Classic. Unlike Classic account, to open Advanced account it is required to deposit $100. In addition, Capital Index increases the max leverage to 1:200, which is the highest one on this website. Furthermore, spreads here are not fixed, but variable – 1.2 pips. We should also mention that Capital Index supplies VPS for Advanced account owners.
As for the Pro account, it comprises mostly of the same features as the Advanced account. There are some minor changes, i.e. the variable spread is 0.9 and the spread betting is no longer available here. Additionally, the minimum deposit here is higher – $500. In addition to the spread, Capital Index increases the costs by charging a commission of $3,50 per lot on FX trades. Is Capital Index scam? We tend to think that duplicating account features for higher costs are not the way proficient brokers go.
Lastly, the broker offers the Islamic account for traders that follow Muslim faith. The account features the absence of swap or interest charges, spread widening etc. Despite the benefits, the Islamic account comes up with some limitations. To give an example, the Islamic account only operates in USD. The minimum deposit requirement is $100.
Capital Index Forex broker offers MT4 and it can be downloaded directly from the website. However, we do not recommend accepting MT4 from the scam broker. Capital Index supplies only the desktop version of MetaTrader 4 and mobile applications for iOS and Android, thus the user certainly lacks additional option such as WebTrader.
In terms of trading instruments, Capital Index offers CFDs trading on Forex, stock indices, commodities, bonds and metals.
Capital Index Reviews of Promotions
There is no welcome package or loyalty program provided by Capital Index. However, there is a temporary deposit bonus up to $10,000. We highly recommend traders not to accept any promotion coming from the untrusted brokerages.
Our Capital Index review has identified that the client support leaves a lot to be desired. Although the website offers email, live chat and phone, the staff is not highly responsive and the agents are not able to solve the sophisticated problems that traders might have. The waiting time for email support answer is at least one week. Capital Index is supposed to have FAQ, though the information there is purely related to MT4 and its features.
Deposits & Withdrawals
As one of the honest Capital Index reviews, we would not advise depositing any money on this website. However, to help you see the bigger picture, let’s check what the broker offers here.
The number of payment methods at Capital Index is small, as the trader can transfer funds merely by using credit/debit card, wire transfers and Skrill. Capital Index also offers the Intercash Prepaid MasterCard for making withdrawals.