Trade Capitol Review – tradecapitol.co Brokerage Scam Exposed

Is Trade Capitol a Scam Broker?

Trade Capitol is the trading name for Eunoia Group LLC (SVG). This domain is known for being the home to many scammers.

The laws of SVG are very lax, and the tax system is beneficial. Only the banking sector is under the control of the local Financial Services Authority (FSA). According to the FSA’s website, Forex trading licenses are not issued.

Trade Capitol’s regulation of trading is fake. The broker is not regulated, and you run the risk of losing your money due to fraud.

We recommend that you locate a Tier 1 licensed broker who operates under the supervision of the European Securities and Markets Authority, the UK’s FCA, or the Australian ASIC.

You’ll be able to get negative balance protection, segregated bank accounts, leverage restriction (1:30), and a compensation plan (e.g., up to 20,000 EUR), in the event that the broker goes under. Brokers must have a minimum capital requirement of 730,000 EUR within the EEA area.

Trade Capitol is an off-shore provider that Eunoia Group LLC runs. The broker is not licensed to offer Forex trading services. This scam targets traders from the United States, UK, Canada and Germany.

Trade Capitol Broker Pretending To Be Regulated

Legitimate brokers have an office registered in the country they operate. If it doesn’t, it is likely a scam offshore provider such as Trade Capitol.

SVG is not safe and Forex trading is not regulated by the local FSA. Trade Capitol’s reputation as a trustworthy broker is a fabrication.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Ronghui, MagnetFX, Millennium Operations.

Trade Capitol’s Account Types Comparison

Here is a summary of the three Trade Capitol trading account:

• For Beginners – $250
  
• Advanced – $2,500
  
• Professionals – $25,000

Leverage is a range of 1:100 to 1:600. These extremely high levels can be risky and can often result in huge losses. In the UK and EU, it is 1:30. It’s 1:50 in the USA and Canada.

Trade Capitol offers welcome bonuses of 25-30% depending upon the account type. The bonus policy states that clients cannot withdraw funds unless they have achieved a trading volume equal to 25-30% the bonus amount plus the deposit.

That’s insane. Due to shady policies such as this, the FCA and ASIC banned offshore brokers from issuing bonus checks.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Withdraw Profits From Broker Account

The Trade Capitol payment methods are not in accordance with the broker’s description. The broker mentioned wire transfers and credit/debit cards in the T&C section, but only cryptocurrency was listed on the deposit menu.

Trade Capitol’s withdrawal policy is very poor. Clients complained about withdrawal problems due to the unfavorable clause. This scam was designed to prevent withdrawals.

Trade Capitol: Video

Below you will find a short video about Trade Capitol. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Trade Capitol!