Capital Street FX – legit or scam?

Day Trading Community Scam Broker Check Capital Street FX – legit or scam?

  • This topic has 3 replies, 1 voice, and was last updated 2 days ago by James Barra.
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  • #179546 Reply
    Firmin

      Anyone know if these guys can be trusted or not – https://www.capitalstreetfx.com/en/?

      They say they regulated and offer much higher leverage than I’ve seen elsewhere reaching 3500:1.

      Thx.

       

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      • #179586 Reply
        James Barra
        Moderator
          DayTrading.com Team

          Hi Firmin,

          Thank you for your message.

          We have evaluated Capital Street FX and have concerns regarding its regulatory status. They are authorized by the Financial Services Commission of Mauritius (FSC) – a ‘red tier’ regulator that isn’t known for its robust oversight of brokers and strong protections for retail investors.

          It also offers bonuses to entice traders, which aren’t permitted by most respected regulators, plus extremely high leverage ratios as you’ve pointed out, which again, aren’t permitted by most respected regulators. The maximum leverage in Europe, Australia and the UK, for example, is 1:30 for retail investors.

          If you want a well-regulated broker (and you should), I recommend seeing our selection of trusted brokers.

           

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        • #179929 Reply
          Firmin

            Alright I get they probably should be avoided but can you get any high leverage brokers that are legit or are you telling me not to use any platform if leverage is above 30:1?

            Thx.

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            • #180244 Reply
              James Barra
              Moderator
                DayTrading.com Team

                Hi Firmin,

                You can get legitimate brokers with high leverage but they may be offering this through weakly regulated, offshore entities.

                Importantly, many prominent regulators have introduced limits on leverage to help protect retail investors from amassing large losses (something that has devastated many traders).

                We would recommend all traders approach leverage trading with caution and suggest beginners especially avoid trading with leverage above 1:30.

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