Overview of Elland Road
Elland Road Capital is a regulated financial service corporate based in South Africa. They offer MT4/5 white label services and cater to regional brokers. However, the broker has been associated with suspicious activities and high potential risk, as indicated by multiple complaints and warnings from WikiFX. It is essential to exercise caution and conduct thorough research before engaging in any financial activities with Elland Road Capital.
The broker provides a range of market instruments for trading, including foreign exchange transactions, commodity trading, index trading, encrypted money market, and stock market trading. Leverage of up to 1:400 is available, but it's important to note that higher leverage carries increased risk. Spreads and commissions vary depending on the account type and the instrument being traded. Non-trading fees such as monthly account inactivity fees and maintenance fees may apply.
Elland Road Capital offers different account types, including Classic, Silver, Gold, Platinum, and VIP, each with its own set of features and benefits. To open an account, visit their website and follow the account creation process. The broker provides a browser-based trading platform called WebTrader, which offers access to international markets without the need for prior downloads.
Customer support can be contacted via email or phone, and a live chat option is available on their website. However, it's worth noting that Elland Road Capital has received numerous negative reviews on WikiFX, with complaints of severe slippage, difficulty in withdrawing funds, and fraudulent practices. It is advisable to approach this broker with caution and consider alternative options based on the available information.
Pros and Cons
Elland Road Capital PTY LTD is a regulated broker under the supervision of the Financial Sector Conduct Authority (FSCA) in South Africa. While it offers a range of market instruments, account types, leverage options, and trading platforms, it is important to approach this broker with caution. There have been complaints and warnings about potential risks and scams associated with Elland Road Capital, as reported by WikiFX. Traders should thoroughly research and consider the potential risks before engaging in any financial activities with this broker. Below is a table summarizing the pros and cons of Elland Road Capital:
Is Elland Road Legit？
Based on the information provided, Elland Road Capital (Pty) Ltd is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The license number is 52127, and the effective date of regulation is 2022-02-10. The regulatory agency responsible for overseeing Elland Road Capital's activities is the FSCA. The license type is Financial Service Corporate.
However, it is worth noting that the previous detection mentioned complaints received by WikiFX and warned about potential risks and scams associated with this broker. It is essential to exercise caution and thoroughly research and consider the potential risks before engaging in any financial activities with Elland Road Capital or any other broker.
Market Instruments
Elland Road offers a range of market instruments for trading. These instruments can be categorized into several types:
1. Foreign Exchange Transactions: Elland Road provides trading opportunities in various currency pairs, such as AUDCAD (Australian Dollar vs Canadian Dollar), AUDCHF (Australian Dollar vs Swiss Franc), AUDJPY (Australian Dollar vs Japanese Yen), AUDNZD (Australian Dollar vs New Zealand Dollar), and AUDUSD (Australian Dollar vs US Dollar). These currency pairs have leverage of up to 400:1.
2. Commodity Trading: Elland Road allows trading in various commodity futures, including BRENT (Crude Oil Brent Cash), USOIL.c (West Texas Intermediate Crude Oil cash), COCOA.f (Cocoa US Futures), COFFEE.f (Coffee US Futures), USCOP.f (Copper Futures), COTTON.f (Cotton US Futures), NGAS.f (NGAS Futures), SUGAR.f (Sugar US Futures), and CORN.f (Corn Futures). The leverage offered for these commodities is up to 200:1.
3. Index Trading: Elland Road offers trading on cash indices, including AUD200 (Australia 200 Cash Index), DE40 (Germany 40 Cash Index), ES35 (Spain 35 Cash Index), F40 (France 40 Cash Index), JP225 (JPN225), N25 (Netherlands 25 Cash Index), STOXX50 (Euro 50 Cash Index), and UK100. The leverage available for index trading is up to 200:1.
4. Encrypted Money Market: Elland Road provides trading opportunities in various cryptocurrencies, such as BTCUSD (Bitcoin vs. USD), BCHUSD (Bitcoin Cash vs. USD), ETHUSD (Ethereum vs. USD), LTCUSD (Litecoin vs. USD), XRPUSD (Ripple vs. USD), DOGEUSD (Dogecoin vs. USD), DSHUSD (Dashcoin vs. USD), XLMUSD (Stellar vs. USD), and XMRUSD (Monero vs. USD). The leverage for cryptocurrency trading is up to 5:1.
5. Stock Market: Elland Road offers trading on a selection of individual stocks, including AAPL.OQ (Apple), AIG.N (American International Group), AMZN.OQ (Amazon Com), BA.N (Boeing), BABA.N (Alibaba), BAC.N (Bank of America), C.N (Citigroup), CSCO.OQ (Cisco Systems), CVX.N (Chevron), and more. The leverage for stock trading is up to 1:5.
Pros and Cons
Account Types
Elland Road offers different account types for its clients, each with its own set of features and benefits. Let's briefly describe each account type without using the mentioned restricted words.
CLASSIC ACCOUNT
The Classic account is the basic account offered by Elland Road. It provides access to all available assets and offers leverage of up to 1:400 for Forex, up to 1:200 for Silver and Gold (Metals), Indices, Commodities, and up to 1:5 for Stocks/Equities. The minimum spread for major currency pairs like EUR/USD, GBP/USD, and USD/JPY is 2.5 pips, and for Crude Oil, it is $0.14. The Classic account requires a minimum deposit of 100 units of the account currency.
SILVER ACCOUNT
The Silver account is another option provided by Elland Road. It also offers access to all available assets, with the same leverage as the Classic account. The minimum spread for major currency pairs is 2.5 pips, and for Crude Oil, it is $0.14. The Silver account has a higher minimum deposit requirement of 20% of the account currency, which allows for more trading opportunities.
GOLD ACCOUNT
The Gold account is designed for traders who require additional features and benefits. It provides access to all available assets, including Forex, Silver and Gold (Metals), Indices, Commodities, and Stocks/Equities. The leverage offered is the same as the previous accounts. The Gold account has a lower minimum spread for major currency pairs, which is 1.8 pips, and a reduced spread for Crude Oil, which is $0.13. The minimum deposit required for the Gold account is 20% of the account currency.
PLATINUM ACCOUNT
The Platinum account is a higher-tier account with enhanced privileges. It grants access to all available assets, with the same leverage as the previous accounts. The minimum spread for major currency pairs is 1.4 pips, and for Crude Oil, it is $0.12. The Platinum account also offers additional benefits such as monthly insights. The minimum deposit for this account is 20% of the account currency.
VIP ACCOUNT
For those seeking a more exclusive trading experience, Elland Road offers the VIP account. It provides access to all available assets and offers the same leverage as the other accounts. The VIP account has the lowest minimum spreads for major currency pairs, starting at 0.9 pips, and for Crude Oil, it is $0.10. Additionally, VIP account holders receive weekly insights. The minimum deposit required for the VIP account is 20% of the account currency.
To summarize, Elland Road offers a range of account types, including Classic, Silver, Gold, Platinum, and VIP. Each account type provides access to various assets, leverage options, and minimum deposit requirements, catering to different trading preferences and needs. It is important to carefully consider the features and risks associated with each account type before making a decision.
Pros and Cons
How to Open an Account
To open an account with Elland Road, follow these steps:
Visit the Elland Road website and click on the “Create Account” button.
Fill in your first name in the required field.
Enter your last name.
Provide your email address, which will be used for communication and account verification purposes.
Select your country code from the dropdown menu. For example, if you are in China, you may choose “+86”.
Enter your phone number.
Choose a strong password for your account. You can click on the “Show” option to display the password you are typing.
Review all the information you have entered to ensure its accuracy.
Once you have filled in all the required fields, click on the “Open Account” button to proceed with the account creation process.
Leverage
Elland Road provides its clients with a maximum leverage of up to 1:400. Leverage refers to the ability to control a larger position in the market with a relatively smaller amount of capital. By utilizing leverage, traders can potentially amplify their profits or losses. However, it's important to note that higher leverage also carries increased risk.
Spreads & Commissions
Elland Road offers multiple account types for trading various instruments, including currency pairs like EUR/USD, GBP/USD, and USD/JPY, as well as Crude Oil. The spreads for these instruments range from 0.9 to 2.8 pips, depending on the account type. Additionally, there are commission fees associated with trading Crude Oil, which start at $0.10. Elland Road also highlights the benefit of commission-free depositing. Traders should consider these spreads and commissions, comparing them with other brokers, to make an informed decision that aligns with their trading needs and goals.
Non-Trading Fees
1. Monthly Account Inactivity Fee: If there are no transactions on your account for at least one month or more, Elland Road Capital reserves the right to charge a monthly inactivity fee. The fee amount varies depending on the currency denomination of your account. The fee is $100 USD, 100 EURO, 100 CHF, or 100 GBP after 30 days of inactivity.
2. Maintenance Fee: Elland Road Capital charges a monthly maintenance fee regardless of whether there are transactions on your account or not. However, if there are no transactions for at least one month, they may also charge a monthly inactivity fee in addition to the maintenance fee. The exact maintenance fee is $10 USD, 10 EURO, 10 CHF, or 10 GBP.
Deposit & Withdraw
DEPOSIT:
At Elland Road Capital, you have several options to deposit funds into your account. The accepted deposit methods include Credit/Debit Cards, Wire Transfer, and APMs (Alternative Payment Methods). These payment methods provide you with options in choosing how you want to fund your account. Additionally, Elland Road Capital supports multiple currencies for deposits, including EUR, USD, and JPY. Please note that the minimum deposit amount is 250 EUR/USD/JPY.
WITHDRAWAL:
When it comes to withdrawing funds from your Elland Road Capital account, there are specific requirements and options available. The minimum withdrawal amount varies depending on the withdrawal method. For Credit Card withdrawals, the minimum amount is 10 EUR/USD/JPY, while for Wire Transfer, it is 100 EUR/USD/JPY. However, if you prefer using e-wallets, you can withdraw any amount as long as it covers the associated fees.
The withdrawal process typically takes approximately 8 to 10 business days to complete. It's important to keep in mind that the actual duration may vary based on your local bank's processing time. It is advisable to consider this timeframe and plan accordingly when initiating a withdrawal request.
Furthermore, it's worth noting that the withdrawal method must align with the deposit method you used. In other words, if you made a deposit using APMs, you can only withdraw funds through APMs.
Pros and Cons
Trading Platforms
WebTrader is a browser-based trading platform offered by Elland Road. It provides traders with new perspectives in CFD trading directly from their web browser without the need for prior downloads. With WebTrader, users have speedy access to international markets, enabling them to go the extra mile in their trading activities.
Elland Road WebTrader comes with several special features. It offers single-touch trading options, a stop-loss feature, and ensures consistent connectivity for trading. The platform also can be used on any Android or iOS-based device, giving traders the freedom to trade on the go. Additionally, Elland Road WebTrader prioritizes reliability, with encrypted transactions and compliance with SAS70 servers. Traders can also benefit from various order types, including instant, request, market, and exchange market orders, along with access to their trades history for improved functionality.
Pros and Cons
Trading Tools
Elland Road provides traders with a range of trading tools to enhance their trading experience and decision-making. Two of these tools are the Economic Calendar and Chart Analysis.
Economic Calendar: Elland Road provides traders with its cutting-edge Economic Calendar, which allows them to stay informed about key economic events. By utilizing this tool, traders can enhance their trading strategies and make informed decisions to improve their portfolio's performance. The Economic Calendar helps traders stay on top of important economic data releases, such as employment reports, GDP announcements, central bank meetings, and other significant events that can impact the financial markets.
Chart Analysis: Elland Road offers a comprehensive Chart Analysis Widget that enables traders to maximize their chart analysis skills. With this tool, traders can stay updated on every price movement occurring in the markets. The Chart Analysis Widget provides real-time data and visual representations of price charts, allowing traders to monitor and analyze market trends, patterns, and potential trading opportunities. By utilizing this tool, traders can take control of their trading positions and effectively diversify their asset portfolio based on the insights gained from the chart analysis.
Customer Support
To contact their customer support, you can reach out via email at support@ellandroadcapital.com or call them directly at +27101572581. Additionally, a live chat option is available on their website. The customer support team operates from Monday to Friday, ensuring that you have access to their services around the clock.
Reviews
Elland Road Capital has received numerous negative reviews on WikiFX. Investors have reported severe slippage, loss of life savings, and difficulties in withdrawing funds. Some reviewers describe the company as fraudulent, engaging in scams, blackmail, and fake investments. There are complaints about being pressured to invest more money, manipulation of trades, and failure to honor withdrawal requests. Several reviewers have expressed caution and advised others to stay away from Elland Road Capital.
Conclusion
In conclusion, Elland Road Capital (Pty) Ltd is a regulated broker under the Financial Sector Conduct Authority (FSCA) in South Africa, offering various account types and market instruments for trading. However, it is important to be aware of the potential risks associated with this broker, as indicated by complaints received by WikiFX. Negative reviews have raised concerns about slippage, difficulties in fund withdrawals, and allegations of fraudulent activities. Traders should exercise caution and conduct thorough research before engaging in any financial activities with Elland Road Capital or any other broker.
FAQs
Q: Is Elland Road Capital a legitimate broker？
A: Elland Road Capital (Pty) Ltd is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, which grants it legitimacy. However, there are complaints and warnings about potential risks and scams associated with this broker, so caution is advised.
Q: What market instruments can I trade with Elland Road？
A: Elland Road offers trading opportunities in foreign exchange transactions, commodity futures, index trading, encrypted money markets, and the stock market.
Q: What are the account types offered by Elland Road？
A: Elland Road provides Classic, Silver, Gold, Platinum, and VIP account types, each with varying features, benefits, and minimum deposit requirements.
Q: What is the maximum leverage provided by Elland Road？
A: Elland Road offers a maximum leverage of up to 1:400, allowing traders to control larger positions with a smaller amount of capital.
Q: What are the spreads and commissions at Elland Road？
A: The spreads for different instruments range from 0.9 to 2.8 pips, depending on the account type. Commission fees are associated with trading Crude Oil, starting at $0.10.
Q: How can I deposit and withdraw funds with Elland Road？
A: Elland Road accepts various deposit methods, including Credit/Debit Cards, Wire Transfer, and Alternative Payment Methods. Withdrawals can be made through the same method used for depositing, with specific requirements and minimum withdrawal amounts.
WikiFX
