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The WikiFX Score of this broker is reduced because of too many complaints!

FxBitCapital

Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|White label MT4|Regional Brokers|High potential risk|

https://fxbitcapital.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
FXBitCapital-Demo MT4
Server Location United Kingdom

Contact

+58 4126009491
support@fxbitcapital.com
https://fxbitcapital.com/
Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont -Kingstown, St. Vincent and the Grenadines
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+58 4126009491

Broker Information

More

Company Name

FXBitCapital Group Ltd

Company Abbreviation

FxBitCapital

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-04-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

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FxBitCapital · Company Summary

Risk Warning

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.

General Information

FxBitCapital Review Summary in 10 Points
Founded 2020
Registered Country/Region Saint Vincent and the Grenadines
Regulation No license
Market Instruments CFDs on forex, commodities, bonds, metals, energies, shares, indices, cryptocurrencies
Demo Account N/A
Leverage 1:500
EUR/USD Spread From 1 pip
Trading Platforms MT4
Minimum deposit $5
Customer Support 24/ live chat, phone, email

What is FxBitCapital?

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.

FxBitCapital's home page

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.

Pros & Cons

Pros Cons
• 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

FxBitCapital Alternative Brokers

    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.

Is FxBitCapital Safe or Scam?

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.

Market Instruments

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.

Accounts

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.

Accounts

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.

Leverage

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.

Spreads & Commissions

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.

Trading Platforms

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).

MT4

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:

Broker Trading Platforms
FxBitCapital MetaTrader 4 (MT4)
CMC Markets Next Generation Platform
OctaFX MetaTrader 4 (MT4), MetaTrader 5 (MT5)
Eightcap MetaTrader 4 (MT4), MetaTrader 5 (MT5)

Deposits & Withdrawals

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.

Payment Options

FxBitCapital minimum deposit vs other brokers

FxBitCapital Most other
Minimum Deposit $5 $100

Customer Service

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.

Customer Service

Overall, FxBitCapital's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Pros Cons
• 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.

User Exposure on WikiFX

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.

User Exposure on WikiFX

Conclusion

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.

Frequently Asked Questions (FAQs)

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.

User Reviews

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20

Comments

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cfn
6-12months
scam
2023-08-15 17:39
Reply
0
0
ELOY GONZALEZ
6-12months
In my opinion I speak for my personal case, it has been a good relationship with fxbitcapital. I have also sent referrals for a year and a half, to date I do not feel cheated
2023-07-14 22:47
1
0
0
GABRIEL6935
6-12months
My experience as a Fxbitcapital client has been good, in terms of service, information and trust.
2023-07-14 21:11
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0
0
GABRIEL6935
6-12months
I have been with Fxbitcapital for 2 and a half years, they have not let me down on the subject of my capital, they have assisted me and kept me informed by instagram and by mail, of their regulatory processes by that means withdrawal efforts.
2023-07-13 23:01
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0
0
GABRIEL6935
6-12months
They have kept me informed by mail of their regulatory processes.
2023-07-13 01:23
Reply
0
0
GABRIEL6935
6-12months
I am happy as a client of Fxbitcapital, they have been correct in answering my queries.
2023-07-13 00:50
1
0
0
fxvo2200
more than one year
Broker does not approve withdrawals 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 back So 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!
2023-07-11 19:46
Reply
0
0
GABRIEL6935
6-12months
Full support for Fxbitcapital, they provide me with information and have responded to me for my investment; for a year and six months that makes me feel confident
2023-07-10 01:35
Reply
0
0
ELOY GONZALEZ
6-12months
My experience with fxbitcapital has been good in returns and they have given me attention through different means. I have no complaints, I support Fxbitacpital, as an old client I am satisfied.
2023-06-27 01:47
Reply
0
0
ELOY GONZALEZ
6-12months
I join the positive comments towards Fxbitcapital, I am part of its clients and I have had the right service at all times
2023-06-22 08:33
Reply
0
0
ELOY GONZALEZ
6-12months
Super satisfied with the service, they have responded adequately to my queries and I have never experienced fraud, I have found out and with licenses they are up to date, not as they say they are illegal.
2023-06-20 01:39
Reply
0
0
GABRIEL6935
6-12months
I have been operating with fxbitcapital for 3 years now, with their ups and downs they have always been correct in answering me for my capital, the truth is that I have not had any fraud experience with them
2023-06-16 23:29
2
0
0
烟花易冷,人事易分。
more than one year
So far so good I'm very satisfied with FxBitCapital’s customer service support. Everyone should come in now but not gamblers, it deserves my 5 stars.
2023-02-27 17:50
Reply
0
0
Luis5528
more than one year
I have not had any problems with them and they always answer me in Spanish. I've been using them for about 18 months.
2023-01-06 04:25
Reply
0
0
Helen7754
more than one year
I have been working with Fxbitcapital for over a year and I have no complaints. Customer service can take sometime to reply but other than that I love their services
2022-12-07 01:23
Reply
0
0
謝季言
more than one year
The information provided by this company FxBitCapital is very little, which makes me feel very insincere. And there is no service in Spanish. I don't want language to be a barrier.
2022-12-02 17:44
Reply
0
0
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