Imagine setting sail on a trading journey with CapitalsWise, a broker promising to guide you towards financial success. However, be warned – not all that glitter is gold. After reading numerous reviews, it seems that this company may not be the trustworthy partner it claims to be. In fact, some even go so far as to label them a scam. Keep reading to discover why.
- CapitalsWise General Information
- Registration and Client Portal Review
- CapitalsWise Trading Conditions
- Account Types Review
- Trading Platform
- CapitalsWise — Deposit and Withdrawal of Funds
- Additional Options
- Is CapitalsWise a Scam?
- Legal Information and License
- Capitalswise.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
CapitalsWise General Information
|Address||122 Leadenhall St London EC3V 4AB, UK|
Registration and Client Portal Review
On its official website, CapitalsWise seems to have utilized every cliché in the book. It features the standard list of the broker’s supposed advantages, stock images of happy investors, and, as usual, minimal information about the company. While some users might call this website “concise,” we’d say it was hastily put together. It’s clear that the broker simply didn’t want to bother with making it look or feel professional.
Furthermore, it appears that not everything has been fully completed on this platform. For example, when attempting to register, you are redirected to a page with contact information. It is possible that this broker has closed registration and wants you to contact support first. In any case, this is disheartening. You cannot access your Client Portal without first talking to CapitalsWise staff.
CapitalsWise Trading Conditions
Well, at least registration is not required to view trading conditions. Let’s see what the broker can offer us.
Account Types Review
CapitalsWise offers only four types of trading accounts, with the first one requiring a whopping $10,000 minimum deposit. This might be surprising for a beginner account with no significant advantages. Meanwhile, the next Golden account can only be opened with a minimum deposit of $50,000 and promises to have a team of analysts monitoring your account 24/7. This is if you enjoy having someone meddling in your trades. The other accounts come with useless services that we won’t even bother to describe. The broker may think it’s trendy, but it’s definitely not user-friendly. Surprisingly, the trading conditions are not explicitly stated, with no information on spreads, swaps, or leverage available. Furthermore, CapitalsWise doesn’t even offer a demo account.
Unfortunately, we were not able to register, so we couldn’t see the trading platform for ourselves. However, just by looking at its photo on the homepage, we can understand what we’re dealing with. CapitalsWise provides only a web trader, which is not particularly impressive for experienced traders. Even beginners will quickly realize that its functionality is quite limited. Of course, it’s not even close to being one of the top platforms in the world. All the broker’s claims about it are blatant exaggerations.
CapitalsWise — Deposit and Withdrawal of Funds
Well, it seems like CapitalsWise is playing a real-life game of “hide and seek” with their payment options. They’re hiding, and we’re seeking…but unfortunately, we’re not having much luck. Maybe we need to call in a professional detective to crack this case.
Unfortunately, without access to the client portal, we can’t even tell you how to deposit funds with this company. The website doesn’t list any deposit or withdrawal methods anywhere, and even the terms and conditions don’t touch on this topic.
Nothing is written about the verification process on the CapitalsWise website either. However, we can certainly say that it is standard. The verification process with most brokers typically involves providing some form of identification, such as a passport or driver’s license, as well as proof of address, such as a utility bill or bank statement. This information is typically uploaded to the broker’s website or sent via email for verification by the compliance team.
At CapitalsWise, there are numerous additional services offered such as one-on-one training, market analysis, and even trading signals. However, all of these services are essentially useless. The quality of education is not guaranteed and it’s unlikely to be worth the money. The market analysis provided by the broker is likely to be biased and not particularly useful. And as for trading signals, these are often just random or based on outdated information. These additional services may seem impressive, but they are mostly just a way for the broker to make more money off of its clients.
Is CapitalsWise a Scam?
We have no doubt that CapitalsWise is a scam. Here are several pieces of evidence that confirm it.
Legal Information and License
CapitalsWise does not mention anywhere what management firm it has. Actually, this is a violation of the disclosure law. Judging by the British contact details provided, we can conclude that it is registered in England. Unfortunately, the registry does not have any company named CapitalsWise. There is only one similar company called Capitalwise Limited, but it is not engaged in brokerage services and even missed the confirmation statement. In general, we conclude that the broker is not registered anywhere and provides services illegally and, of course, without a license.
Capitalswise.com Domain Info
The broker doesn’t mention when it started its operations. The only hint is the year 2021 in the website footer. However, reviews about CapitalsWise started appearing much later, and more precisely, quite recently. We checked the domain registration and found out that it was registered on August 16th, 2022. Apparently, the broker started working even later than that.
The broker provides full contact information, but as you might expect, the address listed can be discarded. The company does not officially exist, so naturally, it provides a fake office address.
Pros and Cons
- The broker does not provide clear information about deposit and withdrawal methods.
- Short lifespan.
- No official registration.
- No license.
- Negative reviews.
Frequently Asked Questions (FAQ)
It offers CFD trading in a wide range of financial instruments, including forex, stocks, commodities, and cryptocurrencies.
According to the trading conditions listed on their website, the minimum deposit required to open a trading account with CapitalsWise is $10,000.
No, it is not a safe broker. The company is not regulated by any financial authorities, and there are numerous reports of clients losing their money due to fraudulent activities.