Live Capitol Review – Identify the Warning Signs

Live Capitol Review

If you have come to this Live Capitol review, then it is probably because you have been on the hunt for a reliable and legitimate broker to start trading online. Considering the opportunities that trading in the financial markets present, it can be difficult for many people to resist. Thanks to the internet, there are no such barriers to entry that existed before and you can get started with the minimum of capital and even with zero experience. However, this does not mean that you will succeed and this is something you have to accept.

But, one of the most important things you need to remember is that your success does not just depend on your skill, understanding, or even luck. It also depends on the online broker you use because not all of them are quality companies that offer you the best of everything. Furthermore, there are also plenty of companies that are downright fake and fraudulent, which means there is a great deal of risk involved. Therefore, you have to be cautious at every step because you do not want to lose your money to any shady scheme.

Yet, the question remains; how will you choose a broker without getting scammed? This is where you need to be able to identify warning signs that show that a broker is a scam and not an authentic trading platform. Do they have any? They may be well-disguised, but there are warning signs and you will be able to identify them when you make an effort to do so. This means doing more than just skimming their website for the basics and looking closer at their features and offerings.

You should do this with Live Capitol as well, which may appear to be a decent broker at first glance, but it is definitely not so. You will find plenty of warning signs when you begin giving Live Capitol a closer look. Ready? Let’s get started.

False licensing claims

A licensed and regulated brokerage is what you need for a secure and profitable trading journey. They can offer you peace of mind because you know that they have high standards and comply with proper laws and policies that govern their operations, such as ensuring safety of funds. Such companies can also be held accountable and this also draws a lot of traders. Unfortunately, many scammers also claim to have a license, so you have to verify everything.

You will find this in the case of Live Capitol as well because as per its website, it is licensed by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the United Kingdom. Both of these are considered the leading regulatory authorities in the world and a license from them is immensely valuable. Therefore, those who don’t know better will definitely be impressed with Live Capitol and this is where you need to be cautious.

Instead of just taking their word, you need to follow up and check if Live Capitol really is regulated by these authorities or not. When you check CYSEC’s online register, you will find that the license numbers that are provided on the Live Capitol website are in the system, but they belong to a different company altogether. It has a different address, domain and phone number, which means that Live Capitol has stolen the data of a legitimate company.

As far as the FCA is concerned, you will that the regulatory authority has actually issued a warning against Live Capitol. It has mentioned that the company is not regulated and it has been blacklisted, which is all the confirmation you need that you are dealing with a scam.

No trading platform

What is the most crucial feature that an online broker offers to you? Their trading platform is the most important feature because it is the software that helps you carry out your trades. You cannot execute any transactions without it, so it is vital to the entire process. You want access to a professional and top-notch trading platform for a smooth experience and Live Capitol promises to give you one.

It promises a highly functional platform that is available as an Android/iOS app and a desktop platform as well. But, when you try to download the Live Capitol trading platform, you will be in for disappointment. Why? This is because there is no trading platform at all. All you will find is a TradingView chart that is used for tracking markets and is available over the internet for free.

You do not need to open an account with Live Capitol to access it and you certainly cannot use it for trading, which means there is no functional trading platform available at all. Does that sound like something a legitimate brokerage would do? It is yet another warning sign.

Ridiculous trading conditions

It is natural for traders to want to know what kind of trading conditions they will be offered by a broker, given that they directly affect your bottom line in the long run. However, it is really moot in the case of Live Capitol because we have already established that it does not have a trading platform. This means that there can be no trading at all, so the conditions are irrelevant.

But, this has not stopped Live Capitol from advertising its trading conditions. For instance, it boasts about offering leverage as high as 1:500. This is absurd because it claims to be licensed by CySEC and FCA and yet claims to offer such high leverage ratios. After all, both these regulatory authorities have imposed a cap on the maximum leverage that can be offered to retail clients, which is 1:30.

Only bitcoin deposits

The fact that you can only make deposits in bitcoins at Live Capitol is also a warning sign because cryptocurrencies are a favorite payment method of scammers. These payments are permanent, which means there can be no refunds and the anonymity they offer is also a plus.

Conclusion

The warning signs that you identify at Live Capitol confirm your worse fears that you are dealing with a fraudulent brokerage and should avoid it altogether.