pic

Choose Capital Review | A Revolutionary Way to Buy, Sell and Trade or a Scam?

by Kevin Berry
Rating: 
  1.3/5   Reviews: 3
Choose Capital - logo

Choose Capital offers a revolutionary way to buy, sell, and trade your favorite assets, boldly claiming a foundation date in 2015 and over 3 billion dollars in crypto transactions. Over 8 years of operation, the company boasts having 40,000 individual investors, 1.6 billion dollars under management, and 6,000 daily transactions. According to the official website, the broker’s headquarters is in the United Kingdom, but there are also offices on three continents, yet the license is not even mentioned. Despite such impressive statistics, online reviews are suspiciously scarce. Can such a platform turn out to be a scam? We will try to find out.

Highlights

🏛️ Country United Kingdom
⚠️ Regulation
🖥️ Website https://choosecapital.com/
🎲 Demo Account Yes
⏳ Start Time 2023
💲 Minimum Deposit $10,000
⚖️ Minimum and Maximum Leverage 1:200-1:400
⚙️ Trading Platform WebTrader
📨 E-mail support@choosecapitalemail.com, compliance@choosecapitalemail.com
📞 Phone +442081573576, +61340516599

First Impression of Choosecapital.com

We are presented with a dull, generic, and unremarkable official website, which greets with the question: “Is 1 mln USD enough to retire?”. Quite a strange question for a forex broker. Choose Capital has chosen a very dark, dreary, and boring color scheme: black background, white text, and some inserts of yellow color. Such a website does not inspire motivation to open an account and start trading.

The placement of separate sections with information about the company, trading conditions, contacts, and other data is standard – at the top of the main page. On the main page, one can find the supposed advantages of Choose Capital and even reviews from supposed real clients, which we do not particularly believe.

Choose Capital - site

The only thing the broker can be commended for is its informativeness. Yes, there is a lot of unnecessary and meaningless text on the official site, but at the same time, Choose Capital shares almost all information about itself and the trading conditions, but it remains to be determined whether this is true or not.

Partnership and Bonuses

The broker may offer traders various bonus promotions and contests. In the description of the tariff plans, one can find a section “up to 25% margin loan”, which very much resembles a bonus. Choose Capital provides bonus funds under certain conditions. The trader must execute a turnover exceeding the sum of the deposit and bonus by 25 times. In addition, there is a time limit. Such bonuses often serve as a marker of an illegal intermediary.

No information about an affiliate program is found on the company’s website. Apparently, such an opportunity is absent in Choose Capital, which is odd, as an affiliate program is an excellent way to attract new customers and reward existing ones.

Account Opening on Choosecapital.com

The process of creating a personal cabinet begins with registration. This procedure in Choose Capital is quite standard and typical. The firm asks for a name, contact details, password, and country. Notably, only 6 countries are available as options. However, what about offices on three continents and international activity? The maximum password length is only 15 characters, although it is advisable to use longer passwords for better account security.

Registration

From the moment of account registration, we see minor flaws in the firm. After entering personal data, we expected a confirmation email to arrive regarding the creation of the personal cabinet, but it did not happen. The dashboard immediately became available.

Choose Capital - dashboard

The interface of the client portal is simplified. Choose Capital immediately highlights with a red frame the need to upload documents for KYC. Clients can deposit funds, withdraw funds, open new accounts, view statistics and trade history, and change personal data. Additionally, there is an opportunity to test the service on a free demo account.

Verification

Choose Capital adheres to the AML & KYC policy, so it asks all clients to provide documents that confirm the identity and place of residence of traders. Additionally, a photo of the bank card must be uploaded if it is used for topping up the balance, along with a completed declaration of the deposit. However, the processing time for documents is not specified.

Pros
  • It is convenient to upload documents for KYC.
Cons
  • Too much data is required.
  • The verification processing timeframe is unknown.

Trading Software

The trading terminal in Choose Capital is a very ordinary web platform with technical analysis capabilities, options to change the appearance of charts, various timeframes, a standard order panel, heatmap, pending orders, news, price alerts, multicharts, and one-click trading.

Terminal

The terminal does not have a mobile or desktop version but is likely adapted for mobile browsers. In any case, such software is difficult to call advanced and professional. It’s more akin to a normal and non-functional terminal, which is unlikely to replace a more advanced platform. Choose Capital could have offered some popular alternatives.

Features Choose Capital FINdeto ArbiTrustCapital
Demo Account ✔️ ✔️
Mobile App ✔️
Own Development

How Can I Trade With Choose Capital?

Clients have access to stocks, commodities, cryptocurrencies, indices, metals, and currency pairs. However, all assets are only presented in CFDs. Trading conditions depend on the tariff plan.

All Info About Accounts

Choose Capital has developed five types of accounts. The company adheres to the principle of “pay more money to get better service and more opportunities”. The first tariff requires a replenishment of a huge $10,000, which is not the norm for the forex industry. Many well-known and popular brokers offer a minimum threshold of $1-10. Meanwhile, owners of the first type of account receive a credit leverage of up to 1:200, daily news, trading academy, weekly market reviews, account manager, and portfolio progress.

Account types

The second, third, and subsequent tariffs start from $50,000 and more. These are astronomical figures. There’s even no sense in examining these types of accounts in detail. Choose Capital offers wealthy clients 24/7 account monitoring by a top analyst group, portfolio manager, analyst, live stream webinars, sessions with a certified accountant, end of year summary with a certified tax specialist, education, and others.

What commissions? What spreads? Type of spread? Where is the contract specification? A leverage of 1:200-1:400 suggests the absence of a license, as regulated brokers cannot offer such high parameters. Can a swap-free account be opened? There are many “around-the-market” services, but important conditions remain shrouded in mystery. Choose Capital not only adheres to an extortionate principle but also does not disclose important details of trading conditions.

Pros
  • Traders can try a demo account.
Cons
  • $10,000 – a very high minimum deposit.
  • Conditions and spreads are unknown.
  • The broker tries to extract more money from clients by offering better service at higher tariffs.

Market Analysis and Education With Choosecapital.com

Apart from the services described in the tariff plans, the broker offers an FAQ section and basic information about the traded asset classes. However, that’s all there is. At the same time, other brokers have educational courses, various analytics, calculators, economic calendars, and other widgets. In this respect, Choose Capital is significantly inferior to similar companies.

Deposit, Withdrawal, and Fees

The firm supports credit/debit cards and bank wire transfers. Additionally, in the FAQ section, the broker explains that clients can also transfer money using cryptocurrencies, like BTC, ETH, BNB, DOGE, USDT, or XMR. The processing time for withdrawal requests at Choose Capital lasts up to 7-10 working days, which is also not the norm, as in other companies it takes no more than 3 working days.

Deposits and withdrawals are made without commissions, however, the broker charges a clearance fee of 1% for all executed trades, making trading with the company even less profitable.

Features Choose Capital Dubai Tadawul Grossfield Limited
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

For contacting Choose Capital’s managers, there are both an email and phone numbers. Moreover, the phone numbers are from the UK and Australia. Users can also write a message in the online chat or submit a request for feedback.

A check of contact details revealed interesting patterns. For example, the email address of Choose Capital actually does not exist. This applies not only to technical support but also to the compliance department.

Fake email

Pros
  • None.
Cons
  • The email turned out to be fake.

Is Choose Capital Dangerous?

Is it possible for a broker with 8 years of experience to have a fake email address? How does a company with a minimum deposit of $10,000 have over 40,000 clients? Why does the firm hide important trading conditions? Doesn’t all this seem very suspicious? Honestly, Choose Capital looks extremely risky, but let’s examine its operation period and licenses. Has the company really been operating since 2015?

How Long Does The Broker Work?

To confirm the information about the foundation date in 2015, we need to check the registration registries where such a firm with a date of incorporation in 2015 should be listed, as well as the domain of the official website, since an online broker cannot operate without a website.

The Companies House legal entity registry does not have a record of Choose Capital, so we cannot confirm the official launch date.

Choose Capital - Companies House

Okay, when was the domain of the official website registered? This happened in June 2015, but it’s important to note something else. As early as the beginning of 2023, the domain was up for sale. The Web Archive shows a redirect to the BrandBucket service, which deals with domain sales. The last update was on September 20, 2023. Also, the small number of online reviews needs to be considered. Putting this entire puzzle together, it turns out that Choose Capital has a very short period of operation. Therefore, information about 2015 is fabricated, i.e., fake.

Webarchive

How Is Choose Capital Regulated?

We have already established that there is no such company in the UK, but just in case, let’s check the FCA registry, perhaps by some miracle, the broker will appear there. However, no miracle occurred, and Choose Capital is indeed not listed in the Financial Conduct Authority’s registry.

Choose Capital - FCA

Features Choose Capital Blue Stars FX RGN Financial Planning Ltd
European Zone ✔️
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Choose Capital?

Before starting to trade, it is necessary to register an account. Traders can try and test the service on a free demo account. To trade with real money, one must undergo identity verification and then fund the deposit using one of the offered methods.

Is Choose Capital Legit?

No, the company does not have a license from regulators. Moreover, in the jurisdiction of the United Kingdom, such a firm is not found, despite the stated headquarters in London.

How Risky Is It?

Simply put, companies like this are extremely risky. Choose Capital engages in deception and fraudulent activities, so the risk is 100%, and it's easy to lose money here.
Kevin Berry
Ask question
Expert Opinion

Can such scams really attract the attention of traders? Here, even the trading platform is named MT4, although in reality, there is no MetaTrader 4 at all, and the broker offers some pseudo-terminal. There’s no license, no reputation, and the business model is entirely 100% b-book, which means there’s a conflict of interest. Choose Capital is a fraudulent pseudo-firm that is not registered anywhere and operates as a regular website with a fake terminal and a cash desk for receiving money that customers will never be able to get back. Therefore, it is so important to verify all data, otherwise, it’s easy to fall into a scam.

You may also like

Choose Capital rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
Leave a review

The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Choose Capital

Ork November 5, 2023 - 19:02
It's hardly a safe company, very much like a scam
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I don’t know if the withdrawal of funds works here or not, but it smells strongly of fraud! I would even say it doesn’t smell, it stinks. I don’t know, but it’s better not to risk it. Maybe I’m wrong, and this is a safe brokerage, not a scam. But I don’t think so.

Reply
Alex Swindwar November 18, 2023 - 09:31
Another lie and fake!
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Choose Capital never had any 8-year experience! It is a fresh scam broker that was created a few months ago to swindle people out of money. A typical internet fraud with nothing behind it. The scammers have gone their favorite route: they invented a huge number of clients that don’t actually exist, some astronomical figures regarding the activity of their scam, and a long period of operation, even claiming a headquarters in the United Kingdom. But at the same time, they cannot provide any evidence.
You can’t trust anyone on the internet, especially such scambrokers! Remember this! If you see such fake sites, be sure to check all the information thoroughly. Choose Capital is actually not registered in the UK, they don’t even have a year of operation, and all the presented statistics are complete nonsense and fake. Just another scam broker wanting to swindle you out of money.

Reply
Bateleuraptor January 22, 2024 - 04:10
Absolute Scam: Avoid
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Avoid like the plague. Fake accounts set up and fake figures. As soon as I said I wanted to close the account they disappeared. Michael Dunphy is a used car salesman.

Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy