This time, the overly praised MTcapitals broker came to our court. Various online reviews claim that here clients can experience an excellent and undisputed trading experience. What is behind these metaphors? Where is the evidence that this is not just another hyped scam? We will try to answer these questions.
Table of Contents
|🎲 Demo Account
|⏳ Start Time
|💲 Minimum Deposit
|⚖️ Minimum and Maximum Leverage
|To up 1:400
|⚙️ Trading Platform
First Impression of Mtcapitals.ai
To be honest, we don’t even know how to characterize the MTcapitals site more precisely. Clueless? Talentless? Senseless? Useless? In fact, all these epithets will suit the broker much better than laudatory ones. For example, you can see on the home page the description of the mobile application and links to download it. The problem is that the links don’t exist, since their logos are drawn on the picture. And the rather outdated version of the Binance terminal plays the role of a wonderful application.
After such nonsense, it is even more difficult to take the statements of MTcapitals seriously. So, below the company indicates that it operates in 52 countries. And in the ‘About us’ section, the broker reports that it serves clients from more than 180 countries. Where is the truth? We suspect that nowhere at all.
Partnership and Bonuses
We have carefully studied the entire website of the broker, but have not found any traces of a bonus or referral program. It should be noted that this is even better and can be considered a plus for MTcapitals. Typically, such incentive schemes are used only to more deftly extort money from gullible customers.
Account Opening on Mtcapitals.ai
Well, at least the registration process here is a little different from similar projects. First of all, you can enter an invitation code. MTcapitals then prompts you to sign in with Google or Facebook. However, the first one was not active for us. Finally, you can enter your personal and contact details, create a password, and register.
No verification of your contacts is provided. You will immediately be taken to your personal account MTcapitals. You can even call it functional. In any case, there is editing of personal data, depositing and withdrawing funds, verification, and a curious web terminal.
Trading, of course, starts only after your account is deposited. However, for this you will have to go through a little verification; namely, specify the date of birth and address. And yes, you are right! This data is not verified either.
First of all, MTcapitals describes the verification process in the KYC policy. You must upload a copy of your passport, credit card, and utility bill. A signed history of online transfers is also requested. Documents must be presented before the start of transactions with money. It is interesting that the broker offers to send them by email.
However, the personal account lists a few other requirements and has a convenient form for uploading files.
- Detailed requirements for documents
- There is an upload form.
- Credit card details are required
- Checking time is not reported
MTcapitals promises a super-friendly and functional platform to its customers. At first glance, the software really seems like that. There are a lot of indicators, lines, and timeframes here. Detailed trading specifications are provided for each asset.
However, the panel of social trading and trading signals surprised us. MTcapitals hasn’t mentioned them before. The platform takes a long time to load. It is impossible to carry out trial trades on a demo account. Also, the promised mobile app doesn’t exist. And we doubt that this software is developed by the broker itself.
How Can I Trade With MTcapitals?
As usual, the company offers 5 types of accounts that differ only in the amount of the deposit. Do not expect cent or swap-free accounts to be presented here.
All Info About Accounts
So, MTcapitals has developed 5 accounts that have completely meaningless features. You can admire them in the table below.
|Minimum Deposit, $
|Free session with an analyst
|Guaranteed weekly income
|Membership in global projects
|Access to ICOs
In our opinion, all these conditions are very questionable and are intended to amaze complete losers, not real traders. The company does not say anything about trading conditions at all. However, the CFD broker turns out to be able to guarantee profits as a bank or HYIP. Well, it can also offer to participate in the launch of new cryptocurrency tokens or very mysterious global projects.
- Not very high initial deposit
- Huge money for extra features
- Useless big words
Market Analysis and Education With Mtcapitals.ai
The set of really existing extra services also confused us. Firstly, the broker’s website has such sections as education and an economic calendar. The problem is that they are not clickable. Links, as well as the corresponding sections, simply do not exist. Is it familiar right? It has also happened with alleged links to download a mobile application from Google Play and App Store.
In turn, social trading and free trading signals turn out to be a surprise for those who have logged into their personal account. As for the latter, MTcapitals demanded to deposit a lot of money, but something went wrong. In general, we are almost certain that these functions represent the work of bots or the forwarding of public information.
Deposit, Withdrawal, and Fees
Judging by the policies of KYC and AML, as well as the logos of payment systems presented, the broker supports credit cards and popular electronic transfers. For example, Paypal or Skrill. However, the information in the personal account discouraged us.
As you can see, the excellent broker MTcapitals uses frankly dubious payment methods, namely bitcoin transfers. (We have prudently blurred the wallet address.) Alas, there is no legality and security here.
How Can I Contact It?
The broker offers email, phone, and office address as contact methods. The problem is, googling the phone number reveals it belongs to the German company MThills. Doesn’t it remind you of anything? We are sure that this is a scam too. By the way, its domain was created only on January 12th.
- There are various contacts
- The number is also listed on another website
- There is no MTcapitals at the office address in Geneva
- Lack of online chat
Is MTcapitals Dangerous?
A broker with such dubious offers and a shabby website can hardly have anything to do with legitimacy. Let’s see if there is any hope of decency here.
How Long Does The Broker Work?
MTcapitals does not indicate the year of its foundation anywhere and does not talk about the period of work. Well, then we just have to check his website. Of course, it appeared quite recently, namely, on January 20th. This is even later than the clone, MThills, appeared.
For some unknown reason, the owners changed the domain to mtcapitals.ai. However, it has already earned a lot of negative reviews on the Internet.
How Is MTcapitals Regulated?
In its regulations, the broker vaguely mentions that its activities are regulated by international and European Union laws. Great, but we’d like specifics. Since MTcapitals indicated the office was allegedly in Switzerland, we conscientiously checked the Swiss registry. As expected, there is no such company.
Frequently Asked Questions (FAQ)
How to Trade With MTcapitals?
Is MTcapitals Legit?
How Risky Is It?
It seems we are seeing the emergence of another line of similar sites. I think that scammers are preparing websites for specific regions. MTcapitals pretends to be a Swiss project but is made in English. And his pal MThills only has a German version. All this is designed for extremely dimwitted people who do not even know what the Binance app looks like. But you’re not one of them, are you?