Grand Capital Review – Is it scam or safe forex broker? explained by professional Forex trading experts the “ForexSQ” FX trading team
Grand Capital Review – Is it scam or safe forex broker?
The broker offers its clients a choice of three account types. All of them provide investors with the chance to trade in lower risk micro tradable lots and with access to the globally recognized MetaTrader4 platform. All accounts, except the ECN one, offer commission-free trading. On Micro and Standard account types, clients of Grand capital are able to choose between instant and market execution and fixed and variable spreads.
Clients with account balances of $100,000 or more acquire VIP status and are entitled certain benefits, such as 24% annual interest, no deposit and withdrawal fees, and personal manager.
What is more, Grand Capital offers Sharia-compliant swap-free service to investors of Islamic belief.
Grand Capital is an award-winning broker, offering trading in forex and various CFDs, as well as binaries, on the widely used MetaTrader 4 platform under pretty good trading conditions. As cryptocurrencies are gaining increasing popularity, the broker launched trading in Bitcoin, Ethereum, Peercoin, Namecoin, Dashcoin, Litecoin in July, 2017. CFDs on digital coins are available for trade for ECN Prime account holders.
A professional brokerage firm that is originally from Russia, Grand Capital is in trading business since 2006. It is owned by Grand Capital ltd, a company registered in the Seychelles and regulated by the Financial Commission (FinaCom), a Hong Kong-based external dispute resolution (EDR) organization.
The FinaCom is an EDR organization which acts as a neutral third party in disputes in the forex and binary options markets between its members and their clients. Its compensation fund covers judgments up to $5,000 or $10,000 per client, depending on the regulated company’s type of license.
Grand Capital holds a B-Category license and any client of such company can be eligible for a compensation of up to $5000.
Minimum Initial Deposit
In order to open an account with Grand Capital, one has to deposit just $10, which is a really minim initial deposit. In comparison, LiteForex, also requires $10 as a start, while ForexBrokerInc has set a minimum initial deposit of $100, which applies to ECN accounts too.
Average Spreads & Commissions
Grand Capital’s variable spreads on the commission-free accounts are averaged 2.2 pips on EUR/USD, which s is comparatively high for the forex market. Typical spreads on ECN accounts, amount to 1.2 pips on EUR/USD, however, if we add the commission of $5 per standard lot, trading costs for this pair would also amount to around 2.2 pips.
For further information, you may look up and compare real-time spreads of 15 leading brokers here.
The maximum leverage rates offered by this broker are one of the highest in the industry, reaching 1:2000. Although some jurisdictions cap leverage to levels significantly lower than this (1:50 in the US), many forex brokers offer leverage equal to or exceeding 1:500, including ForexBrokerInc.
Traders, however, should be careful when using higher the leverage levels, for they involve greater risk of heavy losses.
Like most FX brokers, Grand Capital supports the world’s leading trading platform MetaTrader 4, which is fully customizable for just about any trading situation, skill level and preference. With this broker it is available as desktop, web and mobile version.
MT4 provides all the tools and resources a trader needs: a number of technical indicators, advanced charting package, one-click trading option, Expert Advisers (EAs) and extensive back-testing environment.
Grand capital provides attractive promotions. The most lucrative one is the no deposit bonus of $500, which is even available to Micro account holder who have deposited just $10. The bonus us provided for 7-day trading, during your account’s leverage can’t exceed 1:100.
The $500 bonus is available for withdrawal only after completing certain amount of trading operations on the replenished real account: For every $5 of your profit made on bonus account to become your asset, you must trade 1 lot (100 lots on the account type Micro).
What is more, this broker offers 40% bonus on each deposit.
Grand Capital’ clients are offered an array of payment methods: Wire Transfer, Credit/Debit card Maestro or Credit Card (Visa, MasterCard) and e-wallets, such as Skrill, Neteller, PAYEER, Perfect Money, FasaPay, WebMoney, OKPay, Moneta.Ru, RegularPay, China UnionPay, Bitcoin and others.
Grand Capital Review – Is it scam or safe forex broker? Conclusion
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