CapproFX: Uncovering the Concerns Surrounding the Unregulated Broker

As an avid investor in the forex industry, it is crucial to approach brokerage firms cautiously and conduct thorough research before making any investment decisions. Among the numerous companies promising lucrative returns and reliable services, CapproFX has emerged as a controversial player. The trading community has voiced concerns about CapproFX's practices, including allegations of fake regulation designed to deceive unsuspecting traders. This article will examine the details and reasons behind these claims, shedding light on the potential risks of this particular broker.

CapproFX - A Quick Overview

CapproFX (https://www.capprofx.com/) presents itself as a forex and CFD trading platform with a range of claimed advantages. The company asserts that Cappro Capital is a trademark of CapproFX.com, and is registered with the Registrar of Companies for England and Wales. The broker boasts highly competitive trading conditions, including tight spreads, negative balance protection, and 24/5 support. In addition to offering retail trading services, the firm also claims to serve institutional investors, hedge funds, commercial entities, and money managers worldwide. Clients can sign up with the broker for two account types, including Pro Trader and ECN account.

Is CapproFX Regulated?

CapproFX is an unregulated forex broker. While CapproFX claims to be a trademark of CapproFX.com which is owned and operated by Cappro Capital LTD, a company registered in the United Kingdom's Companies House with registration number 9461187, it's important to note that registration with the Companies House does not imply regulatory oversight over forex activities. In fact, a brokerage operating in the United Kingdom needs to have FCA regulations, which CapproFX does not have.

Clientele Feedback

CapproFX holds mixed clientele feedback. Some clients have reported issues with profit deductions and withdrawal delays, expressing frustration with the company's lack of communication and unresponsiveness. These experiences have led some individuals to label CapproFX as a scam and advise others to stay away. 

On the other hand, some clients have been trading with CapproFX for an extended period and have had positive experiences, highlighting the broker's competitive spreads and absence of slippage. However, a recommendation for the company to upgrade its trading platforms has been made by almost every other client. 

What Makes CapproFX a Scam?

CapproFX exhibits several red flags that raise concerns about its legitimacy as a forex broker. Firstly, the absence of registration or authorization by the UK's financial regulator - FCA, fails the broker to be operating legally in the UK. Essentially, the lack of oversight means investors' funds are not supposed to be in safe hands.

Numerous negative reviews highlight complications with withdrawals, position closures, and profit removal, further eroding trust in the company's credibility. 

While some positive experiences have been reported, it's important to scrutinize these testimonials, as specific reviews may be influenced by biased sources associated with CapproFX.

Bottom Line

Based on the findings of BrokersView, it is strongly recommended to approach CapproFX with extreme caution. The absence of regulation and negative feedback from its clients raise many questions regarding the company's trustworthiness.