CITY FX CAPITAL Forex Broker

General Information & Regulation City Fx Capital was launched in 2013,operated by a company called Turtle Capital Ltd, a company registered in Marshall Islands. City Fx Capital is not subject to any regulation and was blacklisted by the CNMV in Spain. The Spanish regulator issued a warning against City FX Capital because offshore brokers like the one at hand here have no legal right to offer financial and investment services in any country that is a member of the European Union or the EEA. Market Instruments Tradable financial instruments offered by this broker include currency pairs, commodities, metals, as well as indices. Minimum Deposit The minimum deposit with the broker is said to be $1000 for a Bronze account – an insanely high amount. After we signed up, we discovered that the minimum investment is $250 – which is still pretty high, considering you get nothing in return, other than a referral link. Leverage In terms of trading leverage, the maximum leverage offered by this broker is considered high, reaching up to 1:500. Margin trading is filled with risks, so offering such generous leverage by unregulated brokers is not necessarily a good thing. Spreads & Commissions When it comes to spreads and commissions, City Fx Capital does not make this part clear. Since There is no demo account available, we cannot test detailed spreads on particular instrument offered by City Fx Capital. Trading Platform Available City FX Capital never states what platform it uses, and after registering with them we couldnt access any either. We got access to a strange dashboard with a referral link where the only possible option is to deposit. There are no quotes, no charting whatsoever, no list of tradable assets, etc. It seems that the fraudsters only aim at receiving deposits from clients that are unaware of its intentions. Deposit & Withdrawal There is no clarity about that. In any, case most brokers use bank cards, wires, and e-payment systems like Skrill and Neteller.