Modern Capital Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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This platform does not allow to withdraw money. It's a scam platform. Please stay away. The platform even does not allow me to withdraw my deposit of $110.
Summary: Modern Capital has garnered mixed reviews in the financial community, with significant concerns regarding its regulatory status and user experiences. While some users appreciate the platform's trading capabilities, many others have reported severe withdrawal issues, raising red flags about its legitimacy.
Note: It is crucial to highlight that there are different entities operating under the name "Modern Capital," and the regulatory environment varies significantly across regions. This review aims to provide a fair and accurate assessment based on available data.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
| Regulatory Compliance | 1 |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data regarding the broker's services and performance.
Founded in 2014, Modern Capital operates under the name Modern Capital Group Limited and primarily serves clients in the United Kingdom. The broker is known for offering trading services on the MetaTrader 4 and MetaTrader 5 platforms, allowing access to various asset classes, including forex and CFDs. However, it lacks valid regulatory oversight, which is a significant concern for potential users.
Modern Capital operates without any substantial regulatory framework, which is a major drawback. According to multiple sources, it has no valid regulatory information, and users are advised to be cautious. The lack of oversight raises questions about the safety of funds and the legitimacy of the platform. Users have reported difficulties in withdrawing their funds, which is a significant red flag. As per WikiFX, "warning: low score, please stay away!" indicates a serious lack of trust in the broker.
Modern Capital accepts various currencies for deposits and withdrawals, but specific details on supported cryptocurrencies are sparse. Users have highlighted issues with withdrawals, stating that the platform "does not allow to withdraw money," which has led to claims of it being a scam. This lack of transparency in withdrawal processes is alarming for potential investors.
The minimum deposit requirement is not explicitly stated in the sources reviewed. However, users have reported various experiences regarding initial investments, which can vary significantly across different platforms. Given the mixed reviews, potential clients should approach this with caution.
Information regarding bonuses or promotional offers is limited. The absence of clear promotional strategies may indicate a lack of competitive edge in attracting new users.
Modern Capital offers a range of tradable asset classes, primarily focusing on forex and CFDs. However, the specifics of these offerings are not well-documented in the sources, leading to uncertainty about the breadth of trading options available.
The cost structure, including spreads and commissions, is not clearly outlined in the reviewed materials. Users have expressed dissatisfaction with the overall cost-effectiveness of the platform, suggesting that hidden fees may be a concern.
Leverage options are not explicitly stated in the available information. However, given the broker's focus on forex trading, it is likely that leverage is available, but potential users should be wary of the risks associated with high leverage.
Modern Capital primarily supports MetaTrader 4 and MetaTrader 5, popular platforms among traders for their user-friendly interfaces and advanced trading tools. However, the lack of regulatory oversight may diminish the appeal of these platforms.
The broker does not provide clear information regarding restricted regions, which can lead to complications for users in certain jurisdictions. This lack of clarity can be detrimental, especially for international traders.
Details about customer service language options are not prominently featured in the sources. However, given the broker's operational base in the UK, it is reasonable to assume that English is the primary language of support.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
| Regulatory Compliance | 1 |
Account Conditions: Users have reported significant issues with account management, particularly concerning withdrawal processes. As noted by multiple sources, "Modern Capital does not allow to withdraw money," leading to serious trust issues.
Tools and Resources: While the platform offers access to popular trading tools like MetaTrader 4 and 5, the lack of additional resources and educational materials limits its appeal to novice traders.
Customer Service and Support: Customer service experiences have been overwhelmingly negative, with users reporting unresponsive support during critical issues.
Trading Setup (Experience): The trading experience is somewhat favorable due to the availability of popular platforms, but the overall trustworthiness of the broker undermines this aspect.
Trustworthiness: The absence of regulatory oversight and numerous user complaints significantly impact the trustworthiness rating, as many users have expressed concerns about the safety of their funds.
User Experience: Overall user experiences have been mixed to negative, with many citing withdrawal issues as a primary concern.
Regulatory Compliance: The lack of any valid regulatory oversight is a major concern, leading to a low rating in this category.
In conclusion, while Modern Capital offers some appealing trading features, the overwhelming concerns about its regulatory status and user experiences suggest that potential clients should exercise extreme caution. The Modern Capital review indicates that it may not be a viable option for those serious about maintaining the safety of their investments.
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