WikiFX Scam Alert: BaFin Warns Against KapitalXP!!!

Investors who are still trading forex at KapitalXP had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

KapitalXP is supposedly a broker based in Germany. Had this actually been true, it would have meant that this broker is quite reliable – the German financial regulator BaFin is quite strict in making sure that brokers under its jurisdiction would conduct business in accordance with the law and would treat clients fairly. However, KapitalXP (kapitalxp.de) has earned an official warning by BaFin on August 19th. You may check the warning on the screenshot below.

The text of the warning is not available in English, but, within it, the regulator condemns KapitalXP as an unlicensed, offshore entity. This document proves that the broker is not authorized to offer financial services in Germany (or anywhere else for that matter) and is most likely running a scam.

WikiFX also paid a visit to the broker's official website to learn more. KapitalXP tries desperately to pass as a German entity. It goes to such length to achieve this result that it operates a .de website, its name contains the German spelling of the word “capital”, and somewhat amusingly, rips off the logo from the German Federal Ministry of Finance, as you can see below:

The issue with all of that lies in the fact that, despite pretending, if KapitalXP were to operate from Germany, the broker would simply have a license with the regulatory body BaFin that oversees the markets there! Nevertheless, KapitalXP is not only not licensed in Germany but has earned an official warning by BaFin!

The web-based software KapitalXP offers was not bad actually – the platform WikiFX got access to provided a decent charting and analysis package and provided a satisfactory trading experience. However, algo trading and copy trading were not available – and neither were any other interesting additional features. It could hardly stand up when compared to something like industry-standard Metatrader 5 and its powerful automated trading features.

WikiFX was allowed to set the leverage as high as 1:300 with this broker – no legitimate German broker would let you do that. Leverage caps in the EU ban brokers from offering leverage higher than 1:30 on forex majors to retail traders. This only goes to show once again that KapitalXP is not a legitimate German broker. Trading with extremely high leverage can be very dangerous and lead to huge losses – which is why you should always be careful with your leverage settings.

KapitalXP accepts deposits made with a credit or debit card, via wire transfer, or through the electronic banking system Sofort. The broker charges quite hefty fees on withdrawals: $50 for a wire transfer withdrawal, $25 for credit and debit card plus a processing fee of $10, and $25 for ePayments (although ePayments did not seem to be available).

An additional 10% is charged on accounts that have not been verified or have not reached a turnover of 200 of the initial deposit. This is outrageous – no legitimate broker would charge you a fee because you have not reached a turnover threshold.

Now let's search “KapitalXP” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/3649042068.html), KapitalXP currently has no valid regulatory license and the score is rather negative - only 0.99/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in KapitalXP. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.

You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFX's official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!