MTCapitals broker Review

If you are looking for a reliable and trustworthy online broker, you might have come across MTCapitals. MTCapitals is a forex and CFD broker that claims to offer competitive trading conditions, advanced platforms, and professional customer support. But are they really legit? Or are they just another scam that you should avoid? In this blog post, we will review MTCapitals and see if they are worth your time and money.

What is MTCapitals?

MTCapitals is a brand name of MT Capital Partners Ltd, a company registered in St. Vincent and the Grenadines. According to their website, they have offices in London, Dubai, and Hong Kong, and they are regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines. They offer over 200 trading instruments, including forex, indices, commodities, stocks, and cryptocurrencies. They also provide various account types, trading platforms, educational resources, and bonuses.

What are the pros and cons of MTCapitals?

Pros:

Wide range of trading instruments
Multiple account types to suit different trading styles and budgets
MetaTrader 4 and MetaTrader 5 platforms available
Access to market news, analysis, and webinars
Generous welcome bonus of up to 100% on first deposit

Cons:

Offshore regulation with low credibility
High minimum deposit requirement of $250
Lack of transparency on fees and commissions
Negative reviews and complaints from customers online
No demo account or free trial available

Is MTCapitals a scam?

Based on our research, we cannot recommend MTCapitals as a safe and reputable broker. There are several red flags that indicate that they are not trustworthy, such as:

Offshore regulation: The FSA of St. Vincent and the Grenadines is not a reputable regulator in the forex industry. It does not have strict rules or oversight on the brokers it licenses, and it does not offer any protection or compensation to the clients in case of disputes or insolvency. This means that if you trade with MTCapitals, you are putting your funds at risk without any guarantee or recourse.
High minimum deposit: MTCapitals requires a minimum deposit of $250 to open an account, which is higher than the industry average of $100. This is a sign that they are trying to lure customers with their bonus offer, but they are not confident in their services or products. Moreover, they do not offer a demo account or a free trial, which means that you cannot test their platform or conditions before investing your money.
Lack of transparency: MTCapitals does not disclose their fees and commissions clearly on their website. They only mention that they charge spreads and swaps, but they do not specify how much or how they are calculated. This is a common tactic used by scam brokers to hide their hidden charges and manipulate their prices.
Negative reviews: If you search for MTCapitals online, you will find many negative reviews and complaints from customers who have traded with them. Some of the common issues reported are:
Difficulty in withdrawing funds or requesting refunds
Poor customer service and communication
False or misleading advertising and promises
Platform glitches and errors
Account closure or suspension without explanation

Conclusion

MTCapitals is not a legit broker that you can trust with your money. They are an offshore entity that operates without proper regulation or supervision. They have a high minimum deposit requirement, a lack of transparency on their fees and commissions, and a lot of negative feedback from customers online. Therefore, we advise you to stay away from them and look for other more reputable and regulated brokers in the market.

What to Do If You’ve Lost Money with MTCapitals?

If you have been scammed by MTCapitals or any other broker, you’ll want to seek assistance from brokerdispute.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokerdispute.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.