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CapitalXP Review 2019 – All You Need To Know
CapitalXP is an offshore trading brokerage firm offering a wide range of trading instruments to trade including currency pairs (forex), indices, commodities, and stocks. The company was established in 2015 and in only a short space of time, it has established itself as a top-rated broker in the industry. It is owned by Quattro Holding Group LTD, a registered company based at James Street, Kingstown, Saint Vincent and the Grenadines. CapitalXP has gained popularity thanks to its reliable customer services, tight spreads, secure website, and innovative trading platforms.
In this CapitalXP review, Elite Trading will give you the opportunity to learn about this broker’s features, tools and services and we will provide you with honest, unbiased and accurate information so that you can make an educated decision when it comes to partnering with a broker.
CapitalXP Broker Review – Know the Facts, Trade With Confidence
CapitalXP is a reputable and reliable forex and CFD broker that while they have been in the market for a short while now, they have attracted many global traders. The detailed table below will provide you with a score of how the broker has performed based on our analysis, which was done using live accounts as well as input that was gathered from real-user reviews.
What Makes CapitalXP Unique?
The fact is, there are many brokers available in the financial markets, yet CapitalXP is a unique broker in many ways. The following attributes sum up why this broker is exceptional:
- Low spreads – Though the full list of the spreads isn’t disclosed on the website, from the demo account, spreads on EURUSD were as low as 0.9 pips. In addition, our test with a real account showed us that CapitalXP offers low spreads to its traders.
- Robust trading platform – CapitalXP uses the MT4 trading platform, a platform known for its security, an extensive library of technical indicator tools, a live news feed, and much more.
- Multilingual website – CapitalXP website is available in the following languages; English, German, and Russian.
- Multiple payment methods – This trading brokerage firm allows a wide variety of payment methods such as credit and debit cards, cryptocurrencies, wire transfer, and e-wallets.
- Reliable customer service – CapitalXP runs around-the-clock customer service department that can be reached 24/5 via multiple communication channels including live chat and email.
CapitalXP Experience Tests
During this CapitalXP review, an exhaustive examination of the broker’s service was conducted with a live account. The broker was examined for account opening process, speed of deposits, reliability of the website, and much more. The account opening was hassle-free and in less than 2 minutes, we had opened a live account. The verification process was simple too; the documents were updated in a record time and we were then ready for the real account experience. We managed to test how responsive the customer service was, and true to their word, we got detailed answers for the queries we had. The customer service representative had a command of the financial products and was very professional and helpful.
We enjoyed trading on the trading platform and found the different trading tools to be helpful. We also took advantage of the many educational resources including the videos, webinars, eBooks and wide choice of trading tools such as an Economic Calendar, market news, daily market reviews, currencies forecast and much more.
To compare notes with the experience of other traders, we learnt that other traders had similar positive experiences with the broker. Excellent customer support and outstanding trading platform topped the list of applause from other traders.
Is CapitalXP a Scam or Legit?
CapitalXP is a legit forex brokerage firm. Its parent company, Quattro Holding Group, is a registered company under registration number 24595 by the government of Saint Vincent and the Grenadines. This implies that the company can be sued for breach of contract. The company has also published its terms and conditions which it expects that traders to abide by. Just like other legit forex brokers, the company has a reliable customer service and uses the well-known and popular MetaTrader (MT4) platform. This implies that you can get solutions to your queries immediately and will have no worries about the trading platform. Also by the fact the broker uses MT4, it implies that the broker is transparent in its spreads and commissions. Nearly all legit and trusted brokers use the MT4 platform.
By the fact that the company uses common payment methods such as VISA and MasterCard, it means that the company’s financial information is in the hands of these financial providers. Their funds can be held in case of a dispute and you can also initiate a chargeback in case of any dispute. In our testing of the broker, we were able to make a deposit with ease and after trading with them for 10 days, we were able to withdraw our funds and our profits quickly and without any issues or delays.
CapitalXP is not a scam broker. Instead, they offer an all-inclusive trading environment that allows you to trade a wide range of financial assets from an intuitive trading platform.
CapitalXP Regulation & Safety of Funds
It is important to note that CapitalXP is not a regulated brokerage firm. Therefore, the company isn’t bound by any regulatory body over the protection of their traders’ money. However, the company has undertaken measures to safeguard their clients’ money by using secure encryption and top security features and technologies, which even top financial institutions and banks use. The secure connection prevents hackers from accessing the site or accessing any trader’s financial information. The broker also maintains client funds in segregated accounts, separate from their operational funds.
CapitalXP has also undertaken measures to keep its site free from unauthorized access by requiring traders to disclose their identity. The company undertakes a mandatory KYC (Know Your Customer) and AML (Anti-money Laundering) process on all traders. That is, they will not allow you to simply withdraw funds from your account without first verifying you are the rightful owner of the account and the money.
CapitalXP has a wide range of trading accounts that suit the different skills, preferences and requirements of traders. The big benefit of this is that CapitalXP caters to both new and advanced traders.
There are five different accounts available including; Basic, Silver, Gold, Platinum, and Diamond, with the Basic account being considered as a starter account and Platinum and Diamond as VIP accounts for pro traders.
Below is a breakdown of the features of the different accounts available at CapitalXP”
Basic Account Features
- Dedicated account manager
- Free educational materials and webinars
- Platform and financial market introduction
Silver Account Features
- Technical, sentimental and fundamental analysis
- Personalized tutorial and Skype sessions
- Induction on trading strategies
- Risk management
- All basic account features
Gold Account Features
- Better spreads
- Trading signals and alerts
- Senior personal account manager
- Advanced trading strategies
- One-on-one MetaTrader 4 course
- All Silver and Basic account features
Platinum Account Features
- All Silver, Gold and Basic account features
- VIP webinars
- Live trading with professional traders
- Daily market brief
- Private webinar with a trading expert
Diamond Account Features
- Full disclosure by account manager – this account type is tailored to meet the exact trading needs of the trader.
Multi-Account Manager Accounts (MAM)
CapitalXP offer managed trading accounts. This account type is designed specifically professional money managers; therefore, it is not open to every retail trader. This account type gives a client the flexibility of making money by handling over the trading activities to a professional trader.
However, it is important to note that the account management is limited to only trading and the pro trader can’t undertake functions, such as withdrawals. The client, who is the owner of the account, will be able to monitor the account performance in real-time from their portal at any time.
CapitalXP Trading Conditions
CapitalXP provides its traders with a world-class trading environment. From the spreads, AND leverage, to their brokerage model, no broker comes close to CapitalXP. For the best interest of their traders, CapitalXP runs a non-dealing desk. This implies that traders’ orders are routed directly to liquidity providers. By doing so, CapitalXP prevents conflicts of interest with traders’ orders and keeps itself free from any breach of trust with their clients
The leverage is exceptionally attractive and can be as high as 1:500. Being an offshore broker, it allows for such high leverage compared to its EU counterparts, which allow for a maximum leverage of 1:30, due to regulations. Although leverage has in the past been attributed to abuse by traders, CapitalXP gives room for traders to multiply their accounts as much as 500 times on a single trade. Leverage is an excellent way to increase profitability.
Traders are not allowed to scalp, hedge, or enter into arbitrage trades. It is against the trading terms of CapitalXP, and once such trading patterns are recognized, CapitalXP terminates such orders and they bar the trader from accessing the site.
Fee and Spreads
At the moment, CapitalXP has not disclosed information regarding its fees on its site. You can easily contact the broker and a service representative will provide you with all the information you require.
Account Opening Experience
Opening an account with CapitalXP is a straightforward process and it is easy to do. Below is a summary of the process.
- Visit the CapitalXP website
- Click on Register which is located on the homepage of the site
- Fill out your personal information required and click on ‘Get Started.’
- Check out for bonuses and opt-in if interested
- Make your first time deposit
- Claim your bonus
- Begin trading
It is important to verify your account immediately after registering the account. You will be required to submit the following documents:
- Proof of residence – Applicable document includes utility bills and Bank/Credit card statements. They shouldn’t be dated more than six months from the date of signing up with CapitalXP.
- Proof of payment – A copy of the credit card used to make a deposit, if applicable.
- Proof of identity verification – Applicable documents include a valid Passport/National ID/Driver’s License.
All the above documents need to be clear copies reflecting your true identity and place of residence.
You can still fund your account and begin trading even before sending the verification documentation; however, you will be required to furnish the documents when making a withdrawal. It is important to note that the broker doesn’t provide its services to residents of France, USA, Canada, Iran, Belgium, and North Korea.
Deposits and Withdrawals
Deposits are processed instantly for most payment methods except Bitcoin and wire transfer. Bitcoin takes 15 minutes to an hour to credit the trading account, while wire transfer takes approximately 5 days to reflect on the trader’s account. Withdrawals are processed not earlier than 24 hours from the request but not later than 7 days. The minimum amount you can deposit to your account with is $250, and the minimum you can withdraw is USD 50.
Withdrawals are charged a fee of 3.5% to 10% depending on the account type and payment method. Besides the transaction costs, the broker charges an account dormancy fee of 50 EUR for accounts which have been inactive for 21 days. A further 50 EUR is charged after every 14 days if the account remains inactive till the account balance depletes.
The company’s policy, just like other anti-money laundering compliant companies, requires traders to withdraw their money using the same payment method they used while depositing.
CapitalXP Trading Platforms
CapitalXP uses the industry-standard trading platform – the MetaTrader 4 (MT4) platform. This trading platform is available only to traders, implying you can only access the trading platform if you register an account with CapitalXP. The trading platform is available in both web trader and desktop client versions. The MT4 is reputable and industry-recognized for its robustness, safety, and reliability. The platform is known for its array of technical indicators tools, multiple language support, and compatibility with expert advisors (EAs). It uses a secure connection, which provides an immutable layer of security between the client terminal and the server.
To suit the different needs of traders, the platform provides different chart formats, nine different timeframes, three inbuilt color schemes all which you can save as a template and load whenever you open a new chart. The fact is, the MT4 platform is legendary, and professional traders hold it in high regards. Below is a summary of the desktop and mobile app attributes of CapitalXP trading platforms.
Desktop and Mobile App
The desktop client is much similar to the MT4 platform offered by other brokers. The desktop client, unlike the web trader, has low latency which means it can work well with a lagging Internet connection. It has fast execution speeds; therefore, you will not experience any requotes or slippage.
CapitalXP provides its traders with a mobile trading application compatible with both Android and iOS devices. The mobile app is light and has the same set of features as the desktop client. The good thing about the mobile app is the ability to trade while on the go. This means you will hardly miss a trade opportunity. The interface of the mobile app is appealing; the icons and menus are located strategically leaving a wide area covered by the charts. Using a modern smartphone will guarantee you a blissful trading experience.
It is important to note that CapitalXP provides for a demo account to all traders. However, the demo account is available to traders who have live accounts.
CapitalXP has limited bonuses and promotions which are not fully advertised on their website. However, active members with real accounts frequently benefit from bonuses and seasonal promotions. To get full details about the ongoing promotions since they are constantly changing, you will need to reach out to your account manager. For instance, the below information is a reply we received from the account managers upon inquiry while conducting this review.
From the reply, it suggests that the broker has a welcome bonus:
Every week, we usually have promotions of as little as $250 up to $500 for our newcomers.
This week, we have only 2 bonuses left. They are distributed randomly to new clients upon request to the financial department.
Would you like me to check with the financial department whether you will be getting a bonus?
CapitalXP has a reliable team of customer support available 24/5 a week. Support is offered in English, Polish, German, Norwegian, and Russian. In case you encounter a challenge in the course of trading, you can the support team via the following channels; live chat, email ([email protected]), and you can complete a form online.
You can also request a call-back by clicking on request call-back on the top section of the website. You will set the most suitable time and day for speaking with the support, and they will contact you at your requested time. The customer support representatives are very professional and are prompt to respond to customer inquiries. Their response time is also impressive. For instance, while conducting this CapitalXP review, the live chat representative was readily available in less than a minute of initiating the chat.
Education and Resources
CapitalXP boasts some of the most insightful and informative educational materials for its clients. The educational materials consist of webinars, e-books, videos, and a detailed glossary. The educational materials are suitable for both novice and veteran traders. The video-on-demand option is the most valuable option. The videos are short, detailed, and each recording covers a different topic. For instance, newbies can learn trading basics such as ask/ bid prices, charts and they can then progress to more advanced topics, such as technical analysis, supports and resistance levels and more.
More advanced videos on topics, such as trading psychology, trading strategies, technical indicators, are available too. To access the materials, you will be required to register an account with CapitalXP. It’s worth opening an account and reading the content because you earn points every time you read the content which you can later redeem.
CapitalXP offers numerous payment methods that are convenient for global traders. The banking options are a mix of different payment methods. You can make deposits and withdrawal using the following methods.
- Cards – Visa, MasterCard
- Qiwi wallet
- Wire Transfer
CapitalXP allows traders to hold accounts in GBP, Russian ruble and USD. You need to select your preferred currency when you open your CapitalXP trading account.
CapitalXP – FAQs
Is CapitalXP regulated?
No, the company isn’t currently regulated by any regulatory body.
What is CapitalXP?
CapitalXP is an offshore financial brokerage firm that offers a wide range of trading instruments such as CFDs, currency pairs, commodities, stocks, indices and much more. The broker operates a non-dealing desk and connects traders’ orders to liquidity providers with deep market access.
Who has experience with CapitalXP?
CapitalXP offers its services to a wide range of global traders. Its target clientele includes both inexperienced traders and veteran traders. Its resource-rich educational academy and the demo accounts have been found valuable to newbie traders. Experienced traders have the room to learn advanced trading strategies on the website as well as join webinars presentations by financial trading gurus.
How does CapitalXP work?
CapitalXP works by providing traders with a trading platform that connects them with the financial market. Through the platform, the broker is able to route trader’s orders to the liquidity providers. When a trader enters a trade, CapitalXP charges a fee known as a spread or a commission depending on the type of instrument the trader is buying or selling. The spread is the broker’s profit.
How reputable is CapitalXP?
CapitalXP is known for its low spreads, reliable customer service, convenient payment methods, and much more. The trading platform, the MetaTrader 4, which is available on desktop and both Android and iOS devices, has received lots of praise by traders for its fast execution speed and wide collection of trading tools and indicators. The company uses cutting-edge technology, a factor that has kept many traders locked in with this broker.
How do I open an account with CapitalXP?
To open an account with this broker, you can simply click on the link below and you will be redirected to their site. Fill in the information requested such as name, email, phone number, and password. Click on Get Started to complete the process. You will be redirected to your trading new account where you can carry out activities such as funding your account, verifying your account, trading, accessing educational resources and much more.
Where is CapitalXP based?
CapitalXP is located at James Street, Kingstown, Saint Vincent and the Grenadines.