Is Capital88 a scam or legit broker?

No, it is not safe to trade with Capital88. iForex24 is owned by Capital88 Ltd., which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoldmanCFD, Obsbit and more. 

According to the website, Capital88 is providing more than 1,000 financial assets from all 4 major markets and 2 trading instruments (CFDs and FX). There is one more company behind the brand’s name – BT Ventures Ltd., which claims to be based in Sofia, Bulgaria. We haven’t found any records of the broker being regulated by local Financial Supervision Commission, which means the broker is unregulated.

Moreover, the broker has recently been banned by Spain’s regulator the National Securities Market Commission (CNMV):

“BT VENTURES LTD/ CAPITAL88 LTD is not authorised to provide the investment services, which include investment advice, or to provide the auxiliary services in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

We advise all investors and traders to avoid Capital88 and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as eToro and FXTM.

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