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Summary: The overall assessment of Fiscal Capital is mixed, with significant concerns regarding its lack of regulation and transparency. While it offers a variety of trading accounts and high leverage options, the absence of robust regulatory oversight raises red flags for potential investors.
Notice: It is important to note that different entities operating under the name "Fiscal Capital" may exist across various jurisdictions, which can lead to discrepancies in user experiences and regulatory compliance. This review aims for fairness and accuracy by consolidating information from multiple sources.
Category | Rating (out of 10) |
---|---|
Account Conditions | 5 |
Tools and Resources | 3 |
Customer Service & Support | 4 |
Trading Setup | 6 |
Trust Level | 2 |
User Experience | 4 |
How We Rate Brokers: Our ratings are based on comprehensive analysis and user feedback from various credible sources.
Fiscal Capital Ltd, founded within the last 1-2 years, operates out of Saint Lucia and is not regulated by any recognized financial authority, which raises significant concerns about investor protection. The broker provides access to a variety of trading platforms, including web-based and mobile applications, and offers a diverse range of tradable assets, including forex, commodities, indices, stocks, and CFDs. However, the lack of regulatory oversight is a critical flaw that potential traders should consider.
Regulatory Status:
Fiscal Capital operates outside the regulatory framework, which means it does not adhere to the same standards and protections required of regulated brokers. According to WikiFX, there is no valid regulatory information available, and the risk management index is alarmingly low.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The broker has not provided clear information on supported deposit and withdrawal methods, which is a common concern among users. This lack of transparency can complicate the trading experience and raise questions about the ease of accessing funds.
Minimum Deposit:
Fiscal Capital requires a minimum deposit of $1,000 for its standard account, $15,000 for the elite account, and $50,000 for the pro account. This tiered structure is designed to cater to different trader profiles but may limit access for beginners.
Bonuses/Promotions:
There are no specific details regarding bonuses or promotions offered by Fiscal Capital. Users should be wary of any promotional claims, especially from brokers lacking regulatory oversight, as they may come with hidden conditions.
Tradable Asset Classes:
Fiscal Capital offers a wide array of tradable assets, including major and minor currency pairs, indices like the S&P 500, commodities such as oil and gold, and various stocks and CFDs. This diversity can appeal to traders looking for multiple investment avenues.
Costs (Spreads, Fees, Commissions):
The spreads vary based on the account type, with the standard plan starting from 1.8 pips and the elite plan from 1.4 pips. The pro plan features likely variable spreads but involves commission fees, although the exact rates are not specified. This lack of clarity around commissions is a concern for potential users.
Leverage:
Fiscal Capital offers leverage up to 1:400, which can amplify potential profits but also significantly increases risk. Traders should exercise caution and implement effective risk management strategies when trading with such high leverage.
Allowed Trading Platforms:
The broker supports multiple trading platforms, including webtrader, Windows, Android, and iOS, allowing for flexibility in trading. However, the absence of popular platforms like MetaTrader 4 or 5 may deter some traders.
Restricted Regions:
The review did not specify any restricted regions, but given the regulatory status, traders from jurisdictions with strict financial regulations might find it challenging to engage with Fiscal Capital.
Available Customer Support Languages:
Customer support is available via email and a landline number. However, the lack of comprehensive support options and educational resources could hinder the trading experience.
Category | Rating (out of 10) |
---|---|
Account Conditions | 5 |
Tools and Resources | 3 |
Customer Service & Support | 4 |
Trading Setup | 6 |
Trust Level | 2 |
User Experience | 4 |
Account Conditions (5/10):
Fiscal Capital offers multiple account types, but the high minimum deposit requirements may limit accessibility for many traders. The tiered structure does allow for varied trading experiences but lacks flexibility for smaller accounts.
Tools and Resources (3/10):
The broker does not provide sufficient educational resources or trading tools, which is a significant drawback for novice traders looking to improve their skills.
Customer Service & Support (4/10):
While customer support is available, the lack of responsiveness and comprehensive support options could lead to frustration for users needing assistance.
Trading Setup (6/10):
The availability of multiple platforms for trading is a positive aspect, but the absence of widely-used platforms like MT4/MT5 may deter some traders.
Trust Level (2/10):
The lack of regulatory oversight is a major concern. Without a trustworthy regulatory body, traders may face increased risks.
User Experience (4/10):
Overall user experiences have been mixed, with many expressing concerns over the broker's transparency and regulatory status.
In conclusion, the Fiscal Capital review highlights a broker that may appeal to some traders due to its diverse asset offerings and high leverage options but poses significant risks due to its unregulated status and lack of transparency. Potential investors should conduct thorough research and consider their risk tolerance before engaging with this broker.