Client Feedback: Capitalix Wrongly Advised Me and Caused Losses

A novice investor based in India claims that Capitalix provided him with wrong investment advice that led to huge losses in a month.

What does complainant say

Late last year, Capitalix staff called to persuade him to participate in forex investments. Knowing that the investor had no idea about forex trading, the staff member did not stop. The investor was told that he did not need to worry about anything about trading. Just invest, and he would profit from it.

After much persuasion, the investor agreed to open a trading account with Capitalix and deposited $200.

As promised, the investor did not participate in the actual trading, but the person who traded on his behalf claimed that the account was losing money and sent a margin call.

The investor said Capitalix cost him about $15,000, which was not cheap for him since the money was even cashed out by using a credit card. He was also dissatisfied that Capitalix did not explain the reason for the loss, despite his repeated requests.

The investor also accused Capitalix of deducting his money by charging “swap fees” and demanded a return.

Capitalix eventually refunded the investor the remaining $3,500 in his account and charged him a fee of about $30.

Capitalix did not respond

Capitalix, a forex broker regulated by the Seychelles FSA, was asked by BrokersView about the investor's complaint, but did not respond.

Forex is a high-risk investment product and is not suitable for novice investors who know nothing about it. If you want to trade in this high-risk asset, please learn about it and be prepared to lose money before making an investment decision.