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BitCapitals: Fake Application Claims, Suspicious

BitCapitals is an offshore broker with no license. It is an illegal operation you should avoid at all costs!

The website of BitCapitals ( seemed as if it was an introductory site for the BitCapitals app. But when I explored it further, I discovered that it’s a full-fledged website.

Even though the broker claims to have an app, there doesn’t exist. It is very suspicious and odd. The website of BitCapitals has a very generic UI and there’s nothing impressive about it. 

I’ll discuss a whole lot more in my BitCapitals review. So, let’s dive in.

BitCapitals License and Regulation

The first thing I look for when checking the reliability of any forex broker is its address. And the address of BitCapitals is in the Commonwealth of Dominica, an offshore region. 

The Commonwealth of Dominica doesn’t have a financial regulator which means, BitCapitals is an unregulated and unlicensed broker. 

Bitcapitals address

Be wary of unlicensed and unregulated brokers. These brokers don’t follow the stringent rules and regulations of popular authorities such as the FCA or CySEC. Such brokers can use shady techniques to steal your funds or data and get away scot-free because of their unregulated nature. 

Did You Know?

FCA & CySEC are used inter-changeably although, the processing speed is varying. As with the FCA licensed companies it is prohibited to delay or block the withdrawal request. Hence, FCA is faster in withdrawal.

Learn more about BenettonFX

Regulatory authorities keep a close watch on licensed brokers so they don’t act against their client’s interests. In case a broker does act against their client’s interests, the clients can get insurance compensation from their respective regulators. For example, CySEC offers €20,000 in case the broker files for insolvency. Regulators ensure that the broker keeps their operating funds separate from their clients’ trading funds as well.  

Unregulated brokers don’t provide such benefits and that’s why it’s very risky to trade with them. If you want to keep your funds and data safe from fraudsters, it’s best to avoid trading with unregulated brokers. 

BitCapitals is an unregulated broker so it would be unsafe to trade with them. Your data and funds would be in danger with them. So please avoid them!

BitCapitals Trading Conditions

Checking the trading conditions of a broker can help you a lot in understanding its reliability. I always recommend checking the trading conditions of the broker before signing up with them. It ensures that you don’t sign up with the wrong broker. Let’s see if BitCapitals’s trading conditions are okay or not:

Trading Platform 

In terms of trading platforms, MetaTrader is always the best. Metatrader 4 and 5 are among the most popular trading platforms in the forex industry because of the vast amount of benefits they offer. MT4 provides you with real-time and historical data, interactive charts, as well as, online quotes to help you make better trading decisions. You don’t get such facilities with other trading platforms. 

It’s clear that the people behind BitCapitals understand the value of a good trading platform because they have MT4 on their website too. However, many shady brokers use the good reputation of MT4 and MT5 to promote their illegal operations. 

It seems to me that BitCapitals is one of those organizations as it doesn’t hold a license to operate as a forex broker. 

Minimum Deposit

The minimum deposit requirement for this broker is $250, which is a very substantial number. To give you an idea of how high it is, the industry average is $100 and some brokers go as low as $10!

You shouldn’t trust brokers that have high minimum deposit requirements. It’s usually an indication that the broker is a fraudster. Because most regulated brokers keep their minimum deposit limit very low to make them accessible to a wider audience. 

Shady brokers keep their minimum deposit limit high so they can steal a substantial sum of funds right away. 

Leverage and Spreads

BitCapitals offers multiple account types and they all have different leverage ratios. However, the minimum leverage they offer is 1:100, and with a higher account, it can even go up to 1:400. This is too high and increases your risks considerably. 

Brokers that offer very high leverage ratios, such as the one BitCapitals offers, are usually scammers. FCA, the financial regulator in the UK, doesn’t allow its brokers to offer more than 1:30 leverage to their customers. They have added this restriction to ensure that clients don’t lose their funds because of recklessly high leverage ratios. A very high leverage ratio can cause you devastating losses.

Shady forex brokers keep their leverage ratios high so they can trap their clients in large piles of debt. 

Their spreads weren’t any attractive either. The lowest account (Bronze) gives you 2.8 pips, which is a lot higher than the industry standard of 1 pip. Their spreads just give me more reasons to suggest avoiding this broker. 

Trading Accounts

BIt-capital accounts

BitCapitals offers you four kinds of accounts. They are as follows:


This account requires you to invest $250 minimum and offers 1:100 leverage. You get a personal account manager and trading news along with the usual advantages. 


This account requires a minimum investment of $2000 and offers 1:200 leverage. You get the same benefits as the Bronze account but also get access to expert advisors. 


The minimum deposit requirement for this account is $10,000 and the offered leverage is 1:300. The rest of the benefits are the same as the previous accounts. 


This account requires a minimum investment of $50,000 and offers 1:400 leverage. The rest of the benefits are the same as the Gold account.

You can see that all of these accounts are made to seem very attractive to new traders. They are quite dangerous and their offered leverages are a great indication of that fact. 

BitCapitals Payment Methods and Charges

Transaction Methods

The available payment methods with this broker include Bitcoin, debit cards, and credit cards. They haven’t provided their users with many payment options which is quite a disappointment. However, that’s not all.

You can deposit funds into your BitCapitals trading account without submitting your KYC documents but you can’t withdraw the funds without them. 

Similar Review: MyCapitalint

This is another sign that BitCapitals is a scam. They will take your funds easily but will prevent you from withdrawing your funds. I don’t recommend giving your sensitive information to a shady company like this forex broker.

The minimum withdrawal limit on this site is $50 and they claim that you can expect to get your payment after seven days of the withdrawal request’s approval.  


BitCapitals doesn’t give much information about its fees. They have hidden all of this information behind their ‘verification wall’. 

When a broker doesn’t specify their fees, it gives them the opportunity to charge you hidden fees (made-up charges) and steal your funds. This is a big reason why I don’t suggest trading with BitCapitals. 

Is BitCapitals a Scam? Yes!

It’s clear by now that BitCapitals is a scam. The forex sector has many kinds of scammers. Usually, scammers in this field focus on attracting new and inexperienced traders to their platforms through fake claims and bonus offers. They get the user to sign up on their platform and accept their fishy terms and conditions. Such brokers hide their unfair conditions in the fine print and people usually ignore them while signing up.

Then, they either use hidden fees or make excuses to take away the deposited funds from their user’s trading accounts. Having a high minimum deposit ensures that they get a substantial amount to steal from every user.

The best way to combat such scams is to do thorough research before signing up on any new broker’s website. You should check the broker’s regulation, license, address, and reputation online. Some brokers even spend money on fake reviews to create a fake positive reputation on the internet. 

BitCapitals Review: Conclusion

BitCapitals is an unlicensed broker based in an offshore area. Offshore regions have become havens for forex scams and fraudsters. That’s why I don’t suggest working with brokers based in those areas. 

Apart from these reasons, BitCapitals has a terrible KYC policy for hiding its data and excessive minimum deposit requirements. I don’t recommend working with this broker. Avoid it at all costs!

Be sure to share this BitCapitals review with others. The more people know about this scam, the better. 

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  1. This company was a hitch in my finances for a while, mostly last year. They delayed my request to withdraw my money, they extort me by telling me that I send them more money, if I don’t send the money I lose all my investment. Lesson learnt and money returned by visiting the web addressswww mycapitalrefund c0m , I couldn’t be more grateful. Don’t invest with unknown brokers and if you have to, avoid every market, this people will only take your money.

  2. It was a very terrible experience with bitcapitals , they took all I had on me , I was fortunate to have a free consiltation with the company of mycapitalrefund and thats how I was saved

  3. They are very horrible , I did not have a good experience with them , I was fortunate to get a free consultation with the company of mycapitalrefund ,com and it really helped me alot

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