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Miles Capital

Mauritius|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://milescap.com/

Website

Rating Index

Contact

+971 4252 3475
info@milescap.com
https://milescap.com/
Premier Business Centre, 10th Floor, Sterling Tower, 14 Poudriere Street, Port-Louis, Mauritius

Licenses

No valid regulatory information, please be aware of the risk!

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Contact number

English

+971 4252 3475

Broker Information

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Company Name

Miles Capital Limited

Company Abbreviation

Miles Capital

Platform registered country and region

Mauritius

Company website

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-15
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

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Miles Capital · Company Summary

Aspect Information
Registered Country/Area Mauritius
Founded Year 2023
Company Name Miles Capital
Regulation No legitimate regulatory oversight
Minimum Deposit Classic Account: $50 USD
Maximum Leverage Metals: 1:100, Forex: 1:200
Spreads Classic Account: From 1.5 pips (floating)
Trading Platforms MetaTrader 5 (MT5)
Tradable Assets Forex, Metals, Commodities, Indices, Cryptocurrencies, Shares, Bonds
Account Types Classic, Executive, Premium Access
Demo Account Available
Islamic Account Available (Swap-free trading)
Customer Support Phone (+971 4252 3475), Email
Payment Methods Not specified
Educational Tools Limited educational resources mentioned

Miles Capital is a brokerage firm registered in Mauritius and founded in 2023. However, it's important to note that the company lacks legitimate regulatory oversight. The Classic Account requires a minimum deposit of $50 USD and offers leverage of up to 1:200 for forex trading. Spreads for the Classic Account start from 1.5 pips (floating). Miles Capital operates on the MetaTrader 5 (MT5) trading platform and provides a wide range of tradable assets, including forex, metals, commodities, indices, cryptocurrencies, shares, and bonds. They offer three account types: Classic, Executive, and Premium Access, along with a demo account and an Islamic account option for swap-free trading. Customer support is available via phone and email, although specific payment methods are not specified. It's worth noting that the brokerage provides limited educational resources. Traders should consider these aspects when evaluating Miles Capital for their trading needs.

Overview

Regulation

The absence of legitimate regulatory oversight for Miles Capital as a brokerage firm casts doubt on the legitimacy and trustworthiness of its financial services. Regulatory supervision is fundamental in the financial sector to safeguard investors' interests and maintain the fairness and transparency of the market. Without proper regulation, there is an elevated risk of fraudulent activities, potential mishandling of funds, and inadequate protection for investors. Therefore, potential investors should exercise caution, conduct thorough research, and explore regulated brokerage alternatives to ensure the security of their investments.

Regulation

Pros and Cons

Pros Cons
  • Comprehensive Range of Market Instruments
  • Lack of Regulatory Oversight
  • Diverse Account Types Catering to Various Traders
  • Limited Educational Resources
  • Powerful MetaTrader 5 (MT5) Trading Platform
  • Lack of Transparency on Deposit and Withdrawal Methods
  • Responsive Customer Support with Multiple Contact Options
  • Competitive Spreads and Leverage Options

Miles Capital offers a broad array of market instruments, making it attractive to traders with diverse investment preferences. The availability of different account types provides flexibility for traders of varying experience levels and capital sizes. Their MetaTrader 5 (MT5) platform stands out as a robust trading tool, and customer support options are accessible and responsive. Additionally, the competitive spreads and leverage options enhance the trading experience.

On the downside, the lack of regulatory oversight raises concerns about the safety and legitimacy of the brokerage. Educational resources appear limited, which may hinder traders looking to enhance their skills. Moreover, the absence of transparent information regarding deposit and withdrawal methods can be a drawback for potential clients seeking clarity on financial transactions. Traders considering Miles Capital should weigh these pros and cons carefully to make informed decisions.

Market Instruments

Miles Capital offers a comprehensive selection of market instruments,addressing a wide spectrum of investment preferences and strategies.

Forex (Foreign Exchange): Miles Capital provides access to the forex market, allowing clients to trade various currency pairs. Forex trading involves buying one currency while simultaneously selling another, with the aim of profiting from fluctuations in exchange rates.

Metals: The company offers trading opportunities in precious metals like gold and silver. Investing in metals can be a way to hedge against inflation and economic uncertainties.

Commodities: Miles Capital allows clients to trade commodities such as oil, natural gas, and agricultural products. Commodity trading can provide exposure to physical assets and diversify an investment portfolio.

Indices: Investors can access various stock market indices through Miles Capital. These indices represent the performance of a group of stocks and can be traded as financial derivatives.

Cryptocurrencies: The platform supports trading in cryptocurrencies like Bitcoin, Ethereum, and other digital assets. Cryptocurrency trading has gained popularity due to its potential for high volatility and profit opportunities.

Shares (Equities): Miles Capital offers shares of publicly traded companies, enabling investors to participate in the ownership and potential growth of these businesses.

Bonds: The company provides opportunities to invest in bonds, which are fixed-income securities issued by governments, corporations, or other entities. Bonds can offer regular interest payments and capital preservation.

Miles Capital's diverse range of market instruments allows investors to create diversified portfolios, manage risk, and potentially capitalize on various market opportunities across different asset classes. However, it's essential for investors to conduct thorough research and understand the risks associated with each instrument before trading or investing.

Market Instruments

Account Types

Miles Capital offers three distinct account types, each designed to cater to a specific set of trading preferences and capital levels.

The Classic Account is an ideal choice for beginners or traders who want to start with a relatively modest investment. With a minimum deposit requirement of just $50 USD, it provides access to the popular MT5 trading platform. Traders on this account benefit from floating spreads starting from 1.5 pips, and there are no commissions. The option for swap-free trading is available, accommodating traders who follow Islamic finance principles. The leverage offered is 1:100 for metals and 1:200 for forex, allowing for flexible risk management. Telephone trading support and a personal account manager enhance the trading experience for Classic Account holders.

For traders with a more substantial capital base, the Executive Account offers enhanced trading conditions. It requires a minimum deposit of $1,000 USD and provides access to the MT5 platform. Spreads are tighter, starting from 1.2 pips, and there are no commissions. Like the Classic Account, the Executive Account also offers swap-free trading and leverages of 1:100 for metals and 1:200 for forex. Traders on this account can enjoy the convenience of telephone trading and the support of a personal account manager.

The Premium Access Account is tailored for experienced traders and those with a significant amount of capital to invest. It necessitates a minimum deposit of $10,000 USD and offers the MT5 platform with RAW spreads starting from 0 pips. While there is a commission starting from $6 USD, this account provides traders with access to some of the tightest spreads available. Like the other account types, it supports swap-free trading and offers leverage of 1:100 for metals and 1:200 for forex. Additionally, traders on the Premium Access Account can utilize telephone trading services and benefit from the assistance of a personal account manager.

These account types collectively cater to a diverse range of traders, from beginners to experienced professionals, with varying capital requirements. The availability of different spreads, leverage options, and support services ensures that clients can choose the account type that best aligns with their trading goals and preferences when trading with Miles Capital.

Account -Types

Leverage

Miles Capital provides a maximum trading leverage of 1:100 for metals and 1:200 for forex trading. This leverage enables traders to control larger positions with a smaller initial capital investment, potentially amplifying both profits and losses. It's important for traders to use leverage judiciously and implement robust risk management strategies.

Spreads and Commissions

The spreads and commissions offered by Miles Capital vary depending on the specific trading accounts they provide. For the Classic Account, the spreads are of the floating type, starting from 1.5 pips, and there are no commissions. The Executive Account offers slightly tighter spreads, starting from 1.2 pips, with no commissions as well. On the other hand, the Premium Access Account offers RAW spreads from 0 pips but comes with a commission starting from $6 USD. These varying options allow traders to choose an account that aligns with their preferred cost structure and trading style. It's crucial for traders to consider both spreads and commissions when assessing the overall cost of trading with Miles Capital.

Deposit & Withdrawal

Miles Capital's website does not appear to provide detailed information regarding deposit and withdrawal methods. This lack of transparency regarding financial transactions can be a cause for concern for potential clients and traders. It is crucial for investors to have clear and readily accessible information about how they can fund their trading accounts and withdraw their funds. This information typically includes a range of payment methods, processing times, fees (if any), and other relevant details to ensure a smooth and secure financial interaction with the brokerage. Prospective clients may need to reach out to Miles Capital's customer support or refer to their terms and conditions for more specific information on deposit and withdrawal methods. Nonetheless, the absence of this information on their website may raise questions about transparency and accessibility.

Trading Platforms

Miles Capital offers traders an exceptional trading experience through their MetaTrader 5 (MT5) platform, which stands out for its cutting-edge technology. This platform boasts advanced charting tools and lightning-fast execution, ensuring a seamless trading experience across desktop, web, and mobile devices. With state-of-the-art features, traders can stay ahead of the market and seize profitable opportunities, making it a versatile and powerful choice for both novice and experienced traders seeking efficiency and innovation in their trading endeavors.

Trading-Platforms

Customer Support

Miles Capital prides itself on offering accessible and responsive customer support to address any inquiries or concerns from its clients. Traders can easily get in touch through various channels, including phone at +971 4252 3475 and email, providing a clear point of contact for assistance. The company's physical address in Dubai, UAE, adds a layer of transparency and credibility to their customer support efforts. Whether clients have questions about their accounts or need guidance with their trading activities, Miles Capital appears dedicated to ensuring their satisfaction by providing multiple avenues for communication and assistance.

Customer-Support

Educational Resources

It appears that Miles Capital may not offer comprehensive educational resources as part of its service. Educational resources typically include materials such as tutorials, webinars, articles, and guides aimed at helping traders improve their knowledge and skills. Traders who rely on educational content as part of their trading strategy may want to consider this aspect when evaluating Miles Capital or supplement their learning from external sources. It's essential for traders to have access to educational materials to make informed decisions and develop their trading strategies effectively.

Summary

Miles Capital is a brokerage firm that offers a diverse range of trading instruments, including forex, metals, commodities, indices, cryptocurrencies, shares, and bonds. They provide three different account types to cater to various trading preferences and capital levels. While they offer leverage of up to 1:100 for metals and 1:200 for forex, the absence of clear information on regulation and limited educational resources raises some concerns. Additionally, detailed information about deposit and withdrawal methods is not readily available on their website, which may impact transparency for potential clients. Nevertheless, their MetaTrader 5 (MT5) trading platform is a standout feature, offering advanced tools for traders across different devices. Customer support is accessible through phone and email, and they emphasize a commitment to providing assistance. Overall, traders should carefully consider their specific needs and conduct thorough research when considering Miles Capital as their brokerage choice.

FAQs

Q1: What trading platforms are available at Miles Capital?

A1: Miles Capital offers the MetaTrader 5 (MT5) platform, known for its advanced features and accessibility on desktop, web, and mobile devices.

Q2: What is the minimum deposit required to open a Classic Account?

A2: The minimum deposit for a Classic Account at Miles Capital is $50 USD.

Q3: Does Miles Capital provide educational resources for traders?

A3: It appears that Miles Capital may not offer comprehensive educational resources, so traders may need to seek external sources for educational materials.

Q4: Are there any commissions for the Classic Account?

A4: No, there are no commissions for the Classic Account; it features floating spreads starting from 1.5 pips.

Q5: How can I contact Miles Capital's customer support?

A5: You can reach Miles Capital's customer support team via phone at +971 4252 3475 or through email for assistance with any inquiries or concerns.

User Reviews

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Zebedee Pucklechurch
more than one year
Have to be honest, my experience with Miles Capital hasn't been great. The platform is kind of confusing, and it took me a while to figure things out. When I reached out to customer support for help, it took them forever to get back to me, and even then, they didn't seem to know much. Plus, some of the fees were way higher than I expected. I'm thinking of trying out other options because this just didn't work well for me."
2023-12-06 11:09
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0
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✨LL✨
more than one year
I've been using Miles Capital for a while now, and I just love how easy it is to manage my investments. The platform is super user-friendly, and whenever I had a question, their customer support team was quick to help and really friendly. They offer a lot of different ways to invest, which I appreciate. It's become my go-to for growing my money.
2023-12-05 14:09
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HafezAhamed
6-12months
Trusted broker. I have invested and withdrawal my trading profits accordingly. They are regulated.
2023-12-01 18:30
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