Complete review about London Capital Trade
With brokers, it is important that you are making sure that you are using one that you can trust and rely on. The only way that you can do this, is to make sure that you are reading as many reviews as possible.
With this review, you are going to get all the important information about London Capital Trade. All the information that will make it easier to know if this is a broker that you will be able to use without any problems. You will see with this review, that London Capital Trade might not be the best broker on the market to use.
London Capital Trade is a forex and CFD broker with a huge variety of cryptocurrency pairs to choose from.
Just because the name is saying that they are London Capital Trade, it doesn’t mean that they are situated in London. In fact, there isn’t any information about the location of the broker. No physical address, or even a country of origin. The only thing that we could found is a couple of telephone numbers and an email address. Making us wonder why there is a telephone number, but no information about a physical address.
Registration and regulation info
It is important to know that London Capital Trade isn’t registered or regulated. This is the one thing that you should look at when choosing a broker. You can’t use a broker that isn’t registered internationally, and that isn’t regulated.
The problem with brokers that aren’t regulated, is that they can do just about anything they please to do. Even if this means that they are canceling traders from using their service. This normally leads to them taking traders money that was already traded.
Account and required deposit information
London Capital Trade is offering four different account options. They are offering a micro account, silver account, personal account, and a VIP account. The different account options can be great, however, there are a couple of things that you should know first.
The required deposit that you need to pay for using any one of these accounts is extremely high. Even with the micro account. You are required to pay a high amount of money. The minimum required deposit starts at $250 and ends at $1,000,000. A lot of money to put at risk with brokers that aren’t regulated.
No trading information available
With any broker, you need to get as many trading information as possible. The trading information and trading terms and conditions. This is giving you all the information that you need to know about trading with London Capital Trade.
This is the problem that we have with these brokers. They don’t have all the trading information available to their brokers. Traders need to register with them, before they can get the necessary information. And, then they see that the trading information isn’t really great.
Payment options not clear
Any trader should know the different payment options that you can choose from when you are using a broker. Especially, if you are using a broker for the first time. The more payment options you have available, the better.
This is a problem that we have with London Capital Trade. They don’t give all the payment options that they have available. How can you choose which payment option is going to be best, if you don’t know what your options might be?
The platform that they are using
They don’t offer any reliable platforms. Any experienced trader will know that MT4 or even MT5 is the best platforms that you can choose. However, they don’t offer these platforms. Meaning that you will not be able to use the best platforms to get the best results with trading. The platform that they are using is unreliable, and won’t give the same results as what you would get with using MT4 or MT5.
What are regulators saying about the brokers
The most important question. What are regulators saying about these brokers? Are the regulators approve of using London Capital Trade, or do they warn traders about using them?
All the regulators are warning against using this broker. This is because they are unregistered, unregulated and doesn’t even give information about the country of origin or a physical address. There are many reports from traders about using these brokers and have lost money in the process. This is why the regulators don’t recommend traders using London Capital Trade for trading.
London Capital Trade. Not the best and most reliable brokers out there. There are many reasons why you should not make use of these brokers for trading. Even regulators are warning against using them as brokers. You should rather look for brokers with a physical address, that is registered and that are regulated. This is the only way that you can make sure that you are going to trade successfully.