Rox Capitals Forex Broker
Basic Information
Comoros
5-10 years Regulated in United States Financial Service MT5 Full License Regional Brokers High potential riskCompany Summary
Rating Index
Rox Capitals Forex Broker - Complete Information Guide
1. Broker Overview
Rox Capitals, established in 2020, is an online brokerage firm that operates under the name Rox Capitals Ltd. The company is headquartered in Hamch Ako, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros, with additional offices located in London, United Kingdom, and Amritsar, Punjab, India. As a private entity, Rox Capitals caters to a diverse clientele, including retail traders and institutional investors, providing a platform for trading various financial instruments.
Since its inception, Rox Capitals has aimed to establish itself as a reputable broker in the forex trading space, offering services that include forex trading, commodities, indices, and cryptocurrencies. The firm has made strides in creating a user-friendly trading environment, utilizing the popular MetaTrader 5 (MT5) platform, which supports both novice and experienced traders.
Rox Capitals operates primarily in the retail forex market but also extends its services to institutional clients, providing tailored solutions for asset management and trading. The broker's business model focuses on delivering competitive trading conditions, including high leverage and a variety of account types, to meet the needs of its diverse customer base.
2. Regulatory and Compliance Information
Rox Capitals is currently unregulated, which raises significant concerns regarding the safety of client funds. The broker claims to be regulated under the Financial Crimes Enforcement Network (FinCEN) in the United States, with a registration number; however, this does not equate to the stringent oversight provided by major financial regulatory bodies.
The lack of regulation means that there are no guarantees for client funds, and the broker does not participate in any investor compensation schemes. Moreover, Rox Capitals does not provide clear information about its customer fund segregation policies, which is a critical factor for investor protection.
The broker does implement Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, requiring clients to verify their identity and address before trading. However, the absence of a robust regulatory framework leaves clients vulnerable to potential fraud and operational risks.
3. Trading Products and Services
Rox Capitals offers a wide range of trading products catering to various trading preferences. The broker provides access to over 25 forex currency pairs, including major, minor, and exotic options. In addition to forex, the broker offers Contract for Difference (CFD) trading on several asset classes, including:
- Indices: Major global indices such as the S&P 500 and Dow Jones.
- Commodities: Trading in precious metals like gold and silver, as well as energy products like crude oil.
- Stocks: A selection of major stocks from various industries.
- Cryptocurrencies: CFD trading on popular cryptocurrencies, including Bitcoin and Ethereum.
Rox Capitals frequently updates its product offerings, although specific details on the frequency of new product introductions are not disclosed. The broker primarily serves retail traders but also offers services tailored for institutional clients, including asset management solutions.
4. Trading Platform and Technology
Rox Capitals utilizes the MetaTrader 5 (MT5) platform, renowned for its advanced trading features and user-friendly interface. The platform supports various trading styles and strategies, making it suitable for both novice and experienced traders. Key features of the MT5 platform include:
- Multi-Device Support: Available for desktop, web, and mobile devices (iOS and Android), allowing traders to access their accounts anytime, anywhere.
- Advanced Charting Tools: Comprehensive charting capabilities with technical indicators to assist traders in making informed decisions.
- Automated Trading: Support for Expert Advisors (EAs) enables automated trading strategies, enhancing trading efficiency.
Rox Capitals operates its servers in the Netherlands, ensuring reliable and fast trade execution. The broker provides an ECN (Electronic Communication Network) execution model, allowing direct market access for enhanced trading conditions. Additionally, API access is available for clients seeking to utilize automated trading systems.
5. Account Types and Trading Conditions
Rox Capitals offers four distinct account types designed to meet the varying needs of traders:
- Micro Account: Requires a minimum deposit of $10, with spreads starting at 2.0 pips and leverage up to 1:500.
- Mini Account: Requires a minimum deposit of $100, offering tighter spreads from 1.5 pips and the same leverage.
- Standard Account: Requires a minimum deposit of $1,000, with spreads starting at 1.2 pips and leverage up to 1:200.
- ECN Account: Designed for professional traders, this account requires a minimum deposit of $5,000, offering the best trading conditions with spreads starting at 1 pip and a fixed commission of $6 per lot.
All accounts share common features, including a minimum trade size of 0.01 lots and a margin call level of 70%. Notably, only the ECN account provides a swap-free (Islamic) option for traders seeking Sharia-compliant accounts. The broker maintains a no-scalping policy across all account types.
6. Fund Management
Rox Capitals supports multiple deposit methods to facilitate easy funding of trading accounts. Accepted deposit methods include:
- Bank Transfers
- Credit/Debit Cards (Visa, MasterCard)
- E-Wallets (e.g., PayPal, Skrill)
- Cryptocurrencies (Bitcoin, Ethereum, Tether)
The minimum deposit requirement varies by account type, starting at $10 for the Micro account. Deposits are processed instantly, while withdrawal requests typically take between 1 minute to 1 day to process. However, a 0.5% withdrawal fee applies.
Withdrawal options mirror the deposit methods, ensuring a seamless process for clients to access their funds. The maximum deposit and withdrawal amounts are both set at $20,000.
7. Customer Support and Educational Resources
Rox Capitals prioritizes customer support, offering various channels for clients to seek assistance:
- Live Chat
- Email Support: support@roxcapitals.com
- Phone Support
- Social Media: Active on platforms like Facebook, Instagram, and LinkedIn.
The support team operates 24/5, providing assistance across different time zones. The broker offers multi-language support, catering to a diverse clientele.
Rox Capitals is committed to enhancing trader knowledge through educational resources, including:
- Webinars
- Tutorials
- Market Analysis Services: Daily market analysis and research reports to keep traders informed.
Additionally, the broker provides trading tools such as economic calendars and pip calculators to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
Rox Capitals primarily serves clients in Asia and Europe, with its operational offices located in the United Kingdom and India. However, the broker imposes restrictions on certain countries, limiting access to its services for residents in regions with stringent regulatory frameworks.
The broker's website does not specify the exact countries from which it does not accept clients, but it is essential for potential traders to verify their eligibility before opening an account.
In summary, while Rox Capitals offers a variety of trading products and services, prospective clients should conduct thorough research and consider the significant risks associated with trading through an unregulated broker. The absence of regulatory oversight raises concerns about fund safety and investor protection, which are crucial factors for anyone considering engaging with a broker in the financial markets.
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