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No valid regulatory information, please be aware of the risk!
I have not received my money since my withdrawal request is pending.
they are not approving withdrawals, they say there is a delay of 15-20 days due to changes in the platform but I have been waiting for more than 3 months and I have managed to withdraw nothing. Customer service does not respond to messages or email, no calls, no live chat....
I was creating a withdrawal request with FXBitCapitals since March 2023 and they still didn't give me my money.On the client portal, the withdrawal looks like is done but they don`t transfer you the money.They don`t even want to give my deposit backSo far all I can say is that the broker is not accepting withdrawals.Avoid FX BitCapital if you don`t want to lose your money!
I got into this broker in 08/2022 due to a (look like) pyramidal scam through Bydzyne, they collab with FxBitCapital, and it was charging a "broker operative fee" monthly per 5 months, with no results... After all this, I decided to withdraw my money on March 2nd, 2023 but today I am still waiting to get my money, it is still "on hold". I've been getting messages from Fxbitcapital telling me that in 20 days it will deliver the withdrawal request... And every month or so they send a new email telling it will last longer and longer... Already 2 months receiving marketing emails with no clear explanation and no trustful date. Now Fxbitcapital says they will request a form to process the withdrawal... but no info about any form. I haven't received anything from them, just random mailing giving more time on hold for this withdrawal. How can I recover this?
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
|FxBitCapital Review Summary in 10 Points|
|Registered Country/Region||Saint Vincent and the Grenadines|
|Market Instruments||CFDs on forex, commodities, bonds, metals, energies, shares, indices, cryptocurrencies|
|EUR/USD Spread||From 1 pip|
|Customer Support||24/ live chat, phone, email|
FxBitCapital is an unregulated forex broker, providing trading services and facilities to both retail and institutional clients in more than 180 countries. The broker offers Contracts for Difference (CFDs) on 6 asset classes: Forex, Shares, Spot Indices, Futures, Spot Metals and Spot Energies through the industry-standard MT4 platform.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
|• Wide range of trading instruments||• No valid regulation|
|• Tight spreads||• Report of unable to withdraw|
|• MT4 supported||• Residents of the Sudan, Syria, and North Korea are excluded|
|• Low minimum deposit||• Only cryptocurrency payment accepted|
|• 24/5 live chat support||• Limited info on deposit/withdrawal|
|• Limited educational resources and trading tools|
There are many alternative brokers to FxBitCapital depending on the specific needs and preferences of the trader. Some popular options include:
CMC Markets - a reputable broker offering a wide range of trading instruments and advanced platforms, making it suitable for both beginner and experienced traders.
OctaFX - a popular choice for traders seeking competitive trading conditions, including low spreads and a variety of account types, with a strong focus on customer satisfaction.
Eightcap - a reliable broker known for its competitive pricing, fast trade execution, and a range of educational resources, making it a good option for traders of all levels.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
FxBitCapital being an unregulated broker raises concerns about its safety and reliability. Regulation by reputable financial authorities helps ensure that brokers adhere to certain standards and safeguards, providing a level of protection for traders. The lack of valid regulation for FxBitCapital indicates that it may not be subject to regulatory oversight, increasing the risk for potential fraudulent activities or inadequate client protection. Traders are advised to exercise caution and thoroughly research a broker's credibility and regulatory status before engaging in any trading activities.
FxBitCapital offers a diverse range of trading instruments, encompassing more than 150 products. Traders have access to CFDs (Contracts for Difference) on various financial markets, including forex, commodities, bonds, metals, energies, shares, indices, and cryptocurrencies. This broad selection enables traders to diversify their portfolios and take advantage of market opportunities across different asset classes.
There are 6 kinds of account types for investors to choose from at FxBitCapital. The Classic Account, Pro Account, and VIP Account are designed for individual traders, each offering unique features and benefits. These accounts have a minimum deposit requirement of $5, making them accessible to traders with varying capital levels.
Additionally, FxBitCapital provides specialized account options such as the PAMM Account, which allows experienced traders to manage funds on behalf of multiple investors, and the MAM Account, which enables professional money managers to handle multiple accounts simultaneously.
The FxBitCopy Account is specifically tailored for social trading, allowing investors to automatically replicate the trades of successful traders. With this range of account types, FxBitCapital aims to accommodate the preferences and trading strategies of a wide range of investors.
FxBitCapital provides its traders with leverage of up to 1:1000, allowing them to amplify their trading positions significantly. Leverage enables traders to control larger positions in the market with a relatively smaller amount of capital. While high leverage can potentially lead to higher profits, it also carries an increased level of risk.
It's important for traders to exercise caution and have a solid understanding of how leverage works before utilizing it in their trading strategies. FxBitCapital's generous leverage offering provides traders with the flexibility to optimize their trading opportunities and explore various markets, but it is essential for traders to manage their risk effectively and use leverage responsibly.
FxBitCapital offers competitive spreads across its various account types. The spread, which refers to the difference between the bid and ask price of a financial instrument, starts from 1 pip for all the mentioned account types. A 1-pip spread indicates a relatively low cost of trading, allowing traders to enter and exit positions with minimal price difference.
One notable advantage is that FxBitCapital does not charge any commissions on trades, which can further reduce trading costs for its clients. By providing competitive spreads and commission-free trading, FxBitCapital aims to offer a cost-effective trading environment for its clients, enabling them to maximize their potential profits.
Below is a comparison table about spreads and commissions charged by different brokers:
|Broker||EUR/USD Spread (pips)||Commissions|
|FxBitCapital||1 pips||No commissions|
|CMC Markets||0.7 pips||No commissions|
|OctaFX||0.4 pips||No commissions|
|Eightcap||0.5 pips||No commissions|
Please note that spreads and commissions may vary and are subject to change, so it's always advisable to check the broker's website or contact their customer support for the most up-to-date information.
FxBitCapital offers its clients the widely recognized and popular MetaTrader4 (MT4) platform for trading. The MT4 platform is available in various versions, including desktop, web terminal, and mobile applications for both iPhone and Android devices. This allows traders to access their accounts and trade on the go, providing flexibility and convenience.
The MT4 platform is known for its user-friendly interface, advanced charting capabilities, and a wide range of technical indicators and analysis tools. Traders can execute trades quickly and efficiently, monitor market movements in real-time, and utilize automated trading strategies through expert advisors (EAs).
With the MT4 platform, FxBitCapital aims to provide its clients with a robust and feature-rich trading experience to help them make informed trading decisions and effectively navigate the global financial markets.
See the trading platform comparison table below:
|FxBitCapital||MetaTrader 4 (MT4)|
|CMC Markets||Next Generation Platform|
|OctaFX||MetaTrader 4 (MT4), MetaTrader 5 (MT5)|
|Eightcap||MetaTrader 4 (MT4), MetaTrader 5 (MT5)|
FxBitCapital only accepts cryptocurrency payments, including Bitcoin, Litecoin, Ethereum, Ripple, and Tether, providing flexibility for clients who prefer using digital assets. The broker does not charge any deposit fees, which is beneficial for traders looking to minimize their transaction costs. However, no other more detailed information on deposit/withdrawal.
FxBitCapital places a strong emphasis on providing reliable and accessible customer service to its clients. Traders can reach out to the support team through various channels, including 24/5 live chat, phone, and email. This ensures that assistance is available during trading hours, enabling prompt responses to inquiries or concerns.
The live chat feature offers real-time support, allowing clients to engage in direct communication with knowledgeable representatives who can address their queries efficiently. Additionally, the availability of phone and email support provides alternative options for those who prefer to communicate through these channels.
Overall, FxBitCapital's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
|• Multi-channel support||• No 24/7 customer support|
|• 24/5 live chat support||• No social media presence|
|• No FAQ section|
Note: These pros and cons are subjective and may vary depending on the individual's experience with FxBitCapital's customer service.
On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Based on the information available, FxBitCapital is an online trading platform that offers a wide range of trading instruments, multiple account types, high leverage options, and access to the popular MetaTrader4 platform.
However, it is important to note that FxBitCapital currently lacks valid regulation, which raises concerns about the safety and security of funds. Additionally, there are reports of issues related to withdrawal and potential scams associated with the platform.
Traders are advised to exercise caution and thoroughly research and assess the risks before engaging with FxBitCapital or any unregulated broker. It is recommended to choose regulated brokers that provide a higher level of investor protection and regulatory oversight.
|Q 1:||Is FxBitCapital regulated？|
|A 1:||No. It has been verified that this broker currently has no valid regulation.|
|Q 2:||At FxBitCapital, are there any regional restrictions for traders？|
|A 2:||Yes. FxBitCapital does not provide services to residents of the Sudan, Syria, and North Korea.|
|Q 3:||Does FxBitCapital offer the industry leading MT4 & MT5？|
|A 3:||Yes. It supports MT4.|
|Q 4:||What is the minimum deposit for FxBitCapital？|
|A 4:||The minimum initial deposit to open an account is $5.|
|Q 5:||Is FxBitCapital a good broker for beginners？|
|A 5:||No. It is not a good choice for beginners. Though it advertises well, it lacks valid regulation.|
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