BitCapitals

Note: BitCapitals's official website: https://bit-capitals.com/ is currently inaccessible normally.

Founded in 2022, BitCapitals is an unregulated forex and CFD broker registered in Dominica. It offers trading in currency pairs, CFDs on cryptocurrencies, commodities, indices, and stocks, requiring a minimum deposit of $250 and providing leverage up to 1:400 through the MT4 trading platform. The website of this broker is available in English, Italian, Polish, Russian, and German.

However, BitCapitals is currently not regulated by any authorities.

Pros and Cons

Is BitCapitals Legit?

BitCapitals is registered in the Dominican Republic and is not subject to any regulation. There are no recognized regulatory bodies for foreign exchange in the country, which means that all brokers located there operate without any regulation and therefore provide foreign exchange trading services without legal oversight or accountability.

What Can I Trade on BitCapitals?

BitCapitals offers investors financial instruments in currency pairs and CFDs on cryptocurrencies, stocks, indices, and commodities.

Leverage

Bit Capital offers leverage up to 1:400, which is very high in the industry. High leverage involves high risks, and given their credibility is close to zero, do not trust this broker.

Spread

The spread provided by Bit Capital is set at EUR/USD 1.5 pips, which is not typical of industry standards. Given that this broker is unregulated and its spread is not competitive, you are advised not to choose it.

Trading Platform

Bit Capital offers the MT4 trading platform, which is equipped with fairly comprehensive functions. However, you should still avoid choosing a broker that is not regulated.

Deposit and Withdrawal

You can make payments via credit card, debit card, or a Bitcoin payment. The minimum deposit amount is $250.

The website states that the minimum withdrawal amount is $50, and that identification documents must be provided, but fortunately, there is no withdrawal fee.