FxBitCapital is a forex broker that was established on January 13, 2020, in Saint Vincent and the Grenadines, primarily offering investors trading services in financial derivatives such as forex, metals, indices, stocks, commodities, and cryptocurrencies. This broker does not provide services in jurisdictions where it may violate local laws or regulations, such as Sudan, Syria, North Korea, and Eastern Europe.
Company Registration Information and Regulatory Status:
According to the information disclosed on the FxBitCapital official website, its business entity registered in Saint Vincent and the Grenadines is FXBitCapital Group LTD, with the specific registered address being Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont -Kingstown, St. Vincent and the Grenadines, and the enterprise registration number is 25735. Additionally, FxBitCapital registered as a broker on May 19, 2023, with the Mwali International Services Authority (Union of Comoros), and its license number is T2023276.
According to the information obtained through a Whois query, the domain name of the broker's official website was registered on January 2, 2020.
Verification revealed an entity named FXBitCapital Group LTD, with registration number 25735, could be found in the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA). However, the Financial Services Authority of Saint Vincent & the Grenadines (SVGFSA) does not "regulate, monitor, control, or license" business companies (BC) engaged in foreign exchange trading or brokerage activities. Its regulatory scope is limited to ensuring BCs comply with the obligations set out in chapter 149 of the revised laws of Saint Vincent and the Grenadines 2009, the Business Companies (Amendment and Consolidation) Act. The Mwali International Services Authority (Union of Comoros) does list a registered broker named FXBitCapital Group LTD, but this body similarly does not provide effective regulation for financial derivatives trading.
Account Opening:
To open an account with FxBitCapital, visit the broker's official website and click "OPEN LIVE ACCOUNT" in the top right corner of the webpage to go to the account registration page. Select the account type and fill in your personal information, including name, email address, phone number, and set a login password. After submission, the account will be successfully registered and automatically redirected for login.
Account Types:
FxBitCapital offers users three different types of real trading accounts: Classic Account, Pro Account, VIP Account, FxBitCopy Account. Additionally, the broker also provides PAMM Account, MAM Account, among other trading accounts.
Classic Account:
- Trading platforms: MT4, MT5, Webtrader, and mobile trading
- Spread: From 1 pip
- Price movement unit: Fifth decimal place
- Maximum trading leverage: 1:1000 (leverage may be adjusted for accounts with net worth over $300,000)
- Execution type: Market execution
- Minimum deposit: $5
- Minimum trade size: 0.01 lot
- Trade size increment: 0.01
- Maximum trade size: 7 standard lots
- Maximum number of simultaneous open orders: 150
- Margin call / Stop out level: 40% / 10%
- Phone trading: Supported
- Account currency: USD, EUR, Nigerian Naira
- Personal account manager: Provided
- Trading commission: 0
- Bonus: Available (MT4 only)
Pro Account:
- Trading platforms: MT4, MT5, Webtrader, and mobile trading
- Spread: From 1 pip
- Price movement unit: Fifth decimal place
- Maximum trading leverage: 1:500 (leverage may be adjusted for accounts with net worth over $300,000)
- Execution type: Market execution
- Minimum deposit: $100
- Minimum trade size: 0.01 lot
- Trade size increment: 0.01
- Maximum trade size: 60 standard lots
- Maximum number of simultaneous open orders: 300
- Margin call / Stop out level: 50% / 20%
- Phone trading: Supported
- Account currency: USD, EUR, Nigerian Naira
- Personal account manager: Provided
- Trading commission: 0
- Bonus: Available (MT4 only)
VIP Account:
- Trading platforms: MT4, MT5, Webtrader, and mobile trading
- Spread: From 1 pip
- Price movement unit: Fifth decimal place
- Maximum trading leverage: 1:500 (leverage may be adjusted for accounts with net worth over $300,000)
- Execution type: Market execution
- Minimum deposit: $100
- Minimum trade size: 0.01 lot
- Trade size increment: 0.01
- Maximum trade size: 60 standard lots
- Maximum number of simultaneous open orders: 300
- Margin call / Stop out level: 50% / 20%
- Account currency: USD, EUR, Nigerian Naira
- Personal account manager: Provided
- Trading commission: 0
- Bonus: Available (MT4 only)
FxBitCopy Account:
- Trading platforms: MT4, MT5, Webtrader, and mobile trading
- Spread: From 1 pip
- Maximum trading leverage: 1:500 (leverage may be adjusted for accounts with net worth over $300,000)
- Execution type: Market execution
- Minimum deposit: Not fixed
- Minimum trade size: 0.01 lot
- Trade size increment: 0.01
- Maximum number of simultaneous open orders: 500
- Margin call / Stop out level: 100% / 70%
- Account currency: USD, EUR
- Performance fee: Not fixed
Trading Platform:
The FxBitCapital official website claims to offer the MT4 trading platform, but the broker cannot be found on the MT4 platform.
Deposits and Withdrawals:
FxBitCapital supports deposits and withdrawals through bitcoin, litecoin, ETHEREUM, ripple, tether, and other methods.
Conclusion:
Traderknows reminds investors that FxBitCapital is an unregulated forex broker. Traderknows advises investors to choose brokers that are transparent, well-regulated and reputable for their trading activities, in order to avoid unnecessary losses of their assets.
Currently, this broker is marked as "suspected of fraud" on Traderknows.
