Grand Capital Review
Reason to avoid: Offshore license
Listed Date: September 12, 2018
Top 3 Forex Brokers
Beware Grand Capital is a Non-Regulated broker. It is NOT SAFE to trade.
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Is GrandCapital a scam or legit broker?
No, it is not safe to trade with GrandCapital. GrandCapital is owned by GrandCapital Ltd., which is an offshore company registered in St. Vincent and the Grenadine.
St. Vincent and the Grenadines 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 Brokerz, TraderUR and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
According to the GrandCapital website, the broker is registered with the Financial Commission under the number 24598 IBC. Even though the FinaCom is a well-respected organization, it is a self-regulatory organization which cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.
Grand Capital Ltd is an incorporated company that operates already for 11 years, while originally is Russian company, yet performs the operation through its registered offices in St. Vincent and the Grenadines and Seychelles, along with 40 offices around the world as claimed by the company. Even though the company has achieved some significant results in their trading offerings alike enabled high-quality connection to the markets through ECN bridges, Web-Based terminal, access to over 330 assets, as well as the comfortable conditions for investment with copy trading and other additional sources to cover the needs of various traders. Moreover with the received awards and the titles ‘Best Broker’, ‘Best trading technology’ and more from the world publicity and organizations.
Nevertheless, there is no confirmation about the regulatory compliance and the necessary protection of the clients, which enables international investors to trade rest assured. Also, the range of trading instruments includes options that put trading capital at risk alike trading on CFDs, binaries along with an extreme level of leverage that comes up to 1:2000, and considered to be very highly adventure trading.
We advise all investors and traders to avoid GrandCapital and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and Plus500.
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90% of brokers has St.Vincent as a main legal entity or as an alternative one for work with various regions. There is nothing to be ashamed for. There is Fincom who cares about financial safety of the client. Plus 14 years of working experience on market, which is a nice result. Not every country has such solid age of existence.
So what’s really wrong with St. Vincent and the Grenadine? I don’t understand. I trade with grand for 3 years already and there was no any problems with transactions and withdrawal. All conditions are transparent and real. I think one should try demo-account to estimate all trading conditions and the broker realibiliness. Everything comes with your own experience.