It seems that the Forex brokers could not survive the competition if they were not constantly expanding. There is rarely a broker who offers services only in one country. The majority of the companies target the main financial centers where the most traders can be found. Of course, the locations would be Australia, UK, and Cyprus. Even Asian Forex companies settle there first before they start conquering the entire Forex world. This review focuses on the Capital Index Forex broker who also operates on multiple key fronts and manages to serve clients around the globe. Let us take a deeper look at Capital Index and its relevance in the market.
Forex Brokers We Recommend
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The broker cannot get any points for experience since the broker came into being in 2014. This is clearly not enough to classify a broker as experienced, but also not to discard it right away. The broker makes up with other benefits and deserves a real chance. The broker is multi-functional with wings in Australia, UK, and Cyprus. It seems that the broker covered all the strategic locations which matter the most in the Forex industry. Capital Index offers CFDs, spread betting, Forex, and different assets for trading. Regarding the company wings, it is clear that the broker underlies a strict regulation on all three sides or fronts. CySEC and FCA make sure that the Capital Index broker does all it takes to protect the traders’ investments, whereas ASIC is in charge of the Australian market and traders. The three regulatory bodies follow the same principles, the same Code of Ethics, and each has the goal to keep a secure, active, and profitable market. The reputation of Capital Index is partly based on the licenses since they are often associated with honesty, protection, transparency, and trust.
Capital Index Platform
The broker juggles successfully between the three markets and we give Capital Index a plus for its choice of the platform. You can already guess that the broker selected the Meta Trader 4 platform which is to traders what the iPhone is to phone addicts. Despite the platform’s unsurpassable performance and features, it would be nice for a change to try something new. Many brokers introduced a new approach and simultaneously offer the MT 4 and another platform (sometimes in-house and sometimes independent). Capital Index is not one of these brokers and relies solely on the MT4. It is true that a broker cannot go wrong with the MT4, but a little bit of variety would not hurt anybody. Nevertheless, if you sign up with this broker, you will probably immediately go to Google Play Store to download the Capital Index mobile app which is compatible with all smartphone devices.
Capital Index offers three different and satisfactory accounts which can be easily accessed:
- Classic account (no deposit required)
- Advanced account (no deposit required)
- Professional account ($500 minimum deposit)
The Classic account has no minimum deposit and can be opened without any funding. Still, if you want to start trading, then you have to deposit a small amount to get access to the irresistible market. This account offers fixed spreads which automatically reduces the risk of loss along leverage of 1:100. The second account is the Advanced account with varying spreads starting from 1.2 pips. Both accounts come with the same minimum trade size of 0.02 lot. The third account is the Professional account, and you can become a user after you deposit $500. The account also covers STP and ECN services which mean that spreads are very competitive, e.g. from 0.90 pips and that a commission is required, e.g. $3,50 per traded lot. Leverage is the same as with the Advanced account. i.e. 1:200. All accounts come with plenty resource materials for studying. These resources generally enhance the knowledge of traders on different strategies, the market in general, and price movements.
Capital Index Bonus
There is no typical no deposit welcome bonus with this broker. Capital Index offers only the Capital Index First Deposit Bonus which can go up to $10,000. This is the only known bonus of the broker right now. Please, make sure to read the Bonus Terms and Conditions, since many traders automatically think that they can chase after the maximum amount of $10,000. The amount of the bonus already suggests that there is a lot of work behind this bonus. Make sure to know the whole bonus procedure before putting your hopes up.
This broker does not offer a variety of payment methods. E-wallets are completely excluded, and you can only deposit and withdraw in the old-fashioned way; either via bank transfer or credit or debit card. In today’s world, many traders prefer e-wallets and Capital Index should really widen the funding possibilities for their clients. One more option is the broker’s InterCash Prepaid MasterCard via which funds are transferred almost immediately.
The Capital Index support team is pretty much standard; it is open 24/5 and can be reached via phone, e-mail, or live chat. The support team is responsive and available only in English.