123 Capitals Forex Broker

123capitals Forex Broker - Comprehensive Information Guide

1. Broker Overview

　　123capitals, established in 2014, is an emerging player in the Indian financial services sector, primarily headquartered in Chennai, Tamil Nadu. This privately held company offers a diverse range of financial services, including equity, derivative, currency derivative, and commodity derivative trading, alongside depository participant (DP) services.

　　The firm was founded with a vision to simplify financial transactions and provide transparent brokerage services, which has led to the establishment of partnerships with major exchanges like the NSE, BSE, and MCX. Over the years, 123capitals has developed a solid customer base, focusing on retail clients while also catering to institutional needs.

　　Key milestones in the companys history include the launch of its proprietary trading platform and the initiation of educational resources through the 123 Academy, designed to empower traders with knowledge and skills. As a full-service broker, 123capitals aims to provide comprehensive trading solutions, making it a notable entity in the Indian brokerage landscape.

2. Regulatory and Compliance Information

　　Currently, 123capitals operates without any valid regulatory oversight, which is a significant concern for potential clients. The absence of a recognized regulatory body means there are no regulatory licenses to verify, and thus, it lacks the necessary compliance measures that protect investors.

　　The company is not registered under any major regulatory authority, which raises questions regarding its legitimacy and accountability. As a result, clients may not benefit from the usual investor protection mechanisms such as fund segregation or participation in investor compensation schemes.

　　In terms of compliance, 123capitals emphasizes the importance of Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. However, the lack of regulatory oversight means that these measures may not be enforced or monitored by an external authority.

Summary of Regulatory Status:

• Regulatory Status: Unregulated
• Regulatory Authority: None
• KYC and AML Compliance: Implemented but not externally audited

3. Trading Products and Services

　　123capitals offers an extensive array of trading products, catering to various investment needs. The broker provides access to a wide range of forex currency pairs, including major, minor, and exotic pairs. Additionally, clients can trade in Contracts for Difference (CFDs), which encompass various asset classes, including indices, commodities, stocks, and cryptocurrencies.

　　The product offerings are regularly updated to include new instruments, ensuring that traders have access to the latest market opportunities. Although primarily focused on retail trading, 123capitals also extends its services to institutional clients, providing tailored solutions to meet their specific requirements.

Key Trading Products:

• Forex: Major, minor, and exotic currency pairs
• CFDs: Indices, commodities, stocks, and cryptocurrencies
• Depository Participant Services: Registered with IL&FS in NSDL

4. Trading Platforms and Technology

　　123capitals utilizes a proprietary web-based trading platform, which is designed to be accessible on multiple devices, including Windows, iOS, and Android. However, it does not support the widely used MetaTrader 4 or 5 platforms, which may limit its appeal to some traders.

　　The platform is equipped with various features to facilitate trading, though users have reported issues with reliability and accessibility, such as encountering error pages when attempting to access certain links.

　　The broker claims to provide an efficient execution model, although the specifics regarding whether it operates on an ECN, STP, or Market Making basis are not clearly defined. The technological infrastructure is designed to support API access and automated trading, enhancing the trading experience for tech-savvy clients.

Platform Features:

• Proprietary Web-Based Platform: Available on multiple devices
• MetaTrader Support: Not available
• Execution Model: Not explicitly defined
• API Access: Available for automated trading

5. Account Types and Trading Conditions

　　123capitals offers various account types to accommodate different trading styles and preferences. The standard account conditions require a minimum deposit, which varies depending on the account type selected.

General Account Conditions:

• Minimum Deposit: ₹15,000 for standard accounts
• Spreads: Vary based on market conditions
• Commission: Applicable on certain trades

　　For advanced traders, there may be options for VIP or professional accounts, but specific details about these account types were not provided in the available resources. Additionally, the broker offers a demo account for practice, allowing traders to familiarize themselves with the platform without risking real capital.

Leverage and Trading Conditions:

• Leverage: Varies by product, typically up to 1:50
• Minimum Trade Size: 1 lot for forex
• Overnight Fees: Applicable as per market conditions

6. Funds Management

　　123capitals provides several options for fund management, enabling clients to deposit and withdraw funds with relative ease.

Supported Deposit Methods:

• Bank Transfers: Direct transfers from registered bank accounts using UPI
• Payment Gateway Transfers: Via net banking, with fees ranging from ₹9 + 18% GST to ₹18 + 18% GST, depending on the bank

　　The minimum deposit requirement is ₹15,000, and the broker does not accept digital wallet transfers or direct transfers from UPI apps. Withdrawal requests are generally processed within 24 hours, although requests made after cut-off times may take longer.

Withdrawal Conditions:

• Withdrawal Methods: Bank transfers via IMPS, NEFT, RTGS, or cheque
• Withdrawal Processing Time: Typically within 24 hours
• Withdrawal Fees: Not specified, but may apply based on the method used

7. Customer Support and Educational Resources

　　123capitals offers a variety of customer support channels to assist clients with their inquiries. Support is available through phone, email, and social media platforms, ensuring clients can receive timely assistance.

Support Channels:

• Phone Support: Available during business hours
• Email Support: connect@123capitals.com
• Social Media: Active presence on platforms like Facebook, Twitter, and Instagram

　　In addition to customer support, 123capitals provides educational resources through its 123 Academy, which offers webinars, tutorials, and offline courses tailored to different levels of trading expertise. This initiative aims to empower traders with the knowledge necessary to navigate the financial markets effectively.

Educational Offerings:

• Webinars and Tutorials: Covering various trading topics
• Market Analysis Services: Daily analysis and research reports
• Trading Tools: Calculators and calendars for effective trading

8. Regional Coverage and Restrictions

　　123capitals primarily serves the Indian market, with its headquarters in Chennai and a registered office in Erode, Tamil Nadu. The broker does not provide services to clients in certain regions, although specific countries that are restricted were not detailed in the available information.

Key Regional Information:

• Primary Service Market: India
• Regional Offices: Chennai and Erode, Tamil Nadu
• Restricted Countries: Not specified in the provided data

　　In conclusion, 123capitals broker presents a range of trading services and educational resources aimed at empowering traders in the Indian market. However, the lack of regulatory oversight and specific operational details may require potential clients to conduct thorough research before engaging with the broker.