Read our Live Capitol review to see if this broker is a scam or legit. Just to clear doubts, this is a livecapitol.online review.
It is exciting to engage in the world of online trading because it is an opportunity to participate in some of the world’s biggest markets and earn high profits. But, you have to bear in mind that there are some risks involved and they don’t just have to do with the volatility of the markets.
The world of the internet has attracted a lot of shady and bad characters and they are quite active in the trading space as well. How? Their favored tactic is presenting themselves as legitimate brokerages when they are the complete opposite. You can go through this Live Capitol review to understand how they do so.
You have to choose an online broker to begin trading in the market of your choice and you will find hundreds of companies offering their services, which can be quite daunting. How do you sort through so many options, particularly when each of them is promising you the best experience?
It is easy to become confused and this is exactly how people end up with the wrong brokerage. On the surface, even scam brokers will appear just like authentic ones because they can create truly professional websites easily.
There is no law that stops them from setting up a website and adding whatever content they like. It is through a good website and strong content that these scammers have been able to victimize thousands, if not millions, of people all over the world.
You certainly don’t want to be the next, so it is always a good idea to make sure the brokerage you are dealing with does not have any such major issues. Taking the same approach certainly pays off in the case of Live Capitol that looks like just the broker you need.
They are offering a wide assets, which include forex, shares, indices, cryptocurrencies, metals and energies and ETFs. They also promise competitive pricing, state-of-the-art trading platform and boasts about a Cypriot license. All of this is undoubtedly impressive, but is it true? Unfortunately, you will find that Live Capitol has a lot of issues that you cannot ignore, or accept, because they indicate that the brokerage is not a genuine one.
What are they? You can find out below:
No license and regulation
The first thing you need to check in every online broker is their license and regulation because you want to ensure they are authentic and reliable. The licensing depends on the jurisdiction they are in and it adds a layer of security because it shows that the company can offer you safety of funds and can be held accountable in case there is a problem. A genuine brokerage will always have a license and you can verify it from the said authority as well.
When you check out Live Capitol, you will definitely find it appealing that the company claims to have a license in Seychelles from the Financial Services Authority (FSA). Secondly, if you look into its background, you will find that it is owned and operated by TopFX Ltd, which is registered as a Cypriot firm. This means that it has a license from the Cyprus Securities and Exchange Commission.
Again, this creates a strong impression of Live Capitol because CySEC is one of the top regulatory bodies in the world. Unfortunately, it seems that the brokerage is lying because when you run its name in the online register of the FSA and CySEC, you will not find it listed. Likewise, its parent company is not listed either, so it is clearly lying about its licensing and regulation.
Lack of trading platform
What is the most important feature that an online broker offers for trading? It is the platform they provide to you because this software is used for connecting to the financial markets and executing trades. You cannot do so without a trading platform and you do not want just any software.
Since it can affect your performance, you want an advanced platform that boasts the latest tools and gives you a smooth experience. You will come to know that Live Capitol is promising the cTrader platform, including its desktop, web and mobile versions.
As it is a well-known and well-equipped trading platform, people will definitely be impressed, but when you look for it to start trading, you will find that Live Capitol is lying. All they have on their website is a chart that does not give you the option of opening, or closing trades. It only creates the illusion of a trading platform to fool people.
Extremely high leverage
The trading conditions of an online broker make a big difference in your performance, so you need to know what they are before you make a commitment. The fact that Live Capitol is offering leverage ratios that go as high as 1:500 can be quite attractive to some people. After all, it means you can enjoy flexibility during trading and can also make high profits.
But, you have to remember that losses can be equally higher. Most importantly, many regulatory authorities, including CySEC have banned such high levels of leverage for retail traders, which means that Live Capitol should not be offering them at all given that it claims to be licensed by it. This is further proof that the broker is lying about its regulation.
Only bitcoin payments
Another major issue that you will come across at Live Capitol is that it only allows you to make your deposits in Bitcoin. The problem with crypto payments is that they are a favorite of scammers because they are not eligible for a chargeback.
This means that once you deposit your payment, it will be final and you will not be able to recover your funds in case of a scam. This option is available when you go for payment methods like credit cards, but they are not supported here.
Ending Thoughts
The issues that you come across at Live Capitol show that the brokerage is not an authentic one and should not be trusted.
