ProCapitalMarkets. Full and honest review
Brokers are a great tool to use if you want to start trading. However, only if you are using the right broker. This is a problem that many traders are struggling with. To find a broker that they can trust and rely on.
With this full and honest review about ProCapitalMarkets, you will be able to know everything there is to know about these brokers. And, you will know if this is recommended brokers or brokers that you should rather not use for trading.
More about the broker
ProCapitalMarkets are known as forex and CFD brokers that are offering a selection of cryptocurrency pairs. They are offshore brokers and situated in the St. Vincent and the Grenadines. It isn’t recommended that you are using brokers that are offshore. It puts your money at risk.
When searching for their company’s information, we didn’t find any physical address for ProCapitalMarkets. This means that they might not be a legit business with a physical address. However, they do have a telephone number and an email address where they can be contacted.
Are they registered and regulated?
This is something that needs to be considered before you can register and use any broker. You need to know if they are registered and regulated. ProCapitalMarkets aren’t registered. They can’t be because they don’t have a valid physical address. There isn’t any information available that they are registered and that they do have a valid address that is needed to be a registered broker.
Only brokers that are registered and registered internationally will be able to be regulated as well. And, because these brokers aren’t registered, they will automatically not be regulated. It is always dangerous to use a broker that isn’t registered and regulated.
Account options and minimum required deposits
Something that isn’t great about ProCapitalMarkets is the fact that they are offering only one account. Meaning that there isn’t more than one account option like with the other brokers that you can find online. You can’t choose the one account that will be best for your trading needs.
And, if this isn’t enough that there aren’t many options when it comes to choosing an account, there isn’t any information about the minimum required a deposit that you should pay either. You will not know the amount of money that you should pay before you can start using your new account.
The platform that they are using
The platform that the broker has to offer to traders are also really important. There are different platforms on the market, but only a few of them are reliable and accurate. MT4 is one of those platforms that are accurate and that are preferred by most traders.
ProCapitalMarkets doesn’t offer MT4 as the platform to their traders. And, this can be a problem for many traders. There are many traders that only knows how to work on MT4 and that trust MT4.
Trading bonusses with unusual terms
A great thing about this broker is the trading bonusses that they are offering to their traders. Most traders are using a broker, just because of the trading bonusses that they are offering. ProCapitalMarkets might offer a trading bonus, but it might not be the best bonus offering.
There are some unusual terms that are going with the trading bonus. Meaning that when you are taking the bonus, there are some withdraw terms and conditions that you need to consider first. This might not be worth it at the end of the day.
Commissions and fees that are dodgy
Then, there are the other commissions and fees that are dodgy as well. We all know that you need to pay some fees when you are using a broker. However, these fees are minimal. This isn’t the case with these brokers. With these brokers, you are paying a couple of different fees. Fees that you would not normally pay with other brokers. Money that you need to spend that isn’t necessary.
No information about payment methods
Another problem is the fact that there isn’t any information about the payment methods that you can use to pay the deposit and to withdraw money. This is important to have different payment options to know what is available to you and what isn’t. And, it gives you an idea if you can trust the broker or not.
Regulators are warning about using them
It is essential to know what regulators are saying about the brokers. Regulators have all the information about which brokers are legit and which are scams. It’s why you should make sure that you know which ones you should trust and which ones you should rather leave alone.
Regulators are warning about using ProCapitalMarkets. They are saying that these brokers can’t be trusted and shouldn’t be used. It is much better to use brokers that are legit, registered and regulated. And, we all know that ProCapitalMarkets aren’t any one of these three.
If you are looking for a broker to start trading with, ProCapitalMarkets isn’t the best options to consider. They aren’t recommended because they are offshore brokers, not registered and not regulated. There are much better options out there that are more reliable and that are recommended by regulators