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Gitex Capital Review – Learn More About GitexCapital.Pro
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The global trading scene is overcrowded with phony brokers such as Gitex Capital. Much like the others, Gitex Capital suffers from the same issues, they lack regulation and accompanying legal documentation, and they offer terrible trading conditions while claiming the opposite.
This unscrupulous broker is apparently making an effort to focus on a specific demographic, that is, the people who have no experience and want to dip their toes in the trading waters. Gitex Capital actually claims that they are a great starting point for beginners.
This is only true if you like being scammed, if not, read the rest of our Gitex Capital review to learn how do we know that we are dealing with an investment scam.
Is Gitex Capital Broker Safe? Regulation and Safety of Funds
Brokers need to be regulated by an authorized regulatory body in order to be considered safe. Though Gitex Capital says everything in order to convince you that they are a safe broker, they fail to mention whether they are regulated or not.
In fact, the unscrupulous broker fails to give any pertinent information that a trader might require in order to decide if they want to invest with this firm. In reality, Gitex Capital remains virtually anonymous.
Failing to find any important information on their website, we decided to do some digging, and what we found came as no surprise at all.
First of all, the scam broker is based in Saint Vincent and the Grenadines. SVG is a notorious offshore haven for scam brokers such as this wannabe brokerage since it does not regulate forex market. Saint Vincent and the Grenadines make it easy for fraudsters to set up shop and remain completely anonymous while staying outside the reach of international law.
In short, Gitex Capital is not a safe place for your money. They lack a proper license issued by an authorized regulatory body and offer no information regarding who they are, even though they claim to be transparent. The Gitex Capital scam waves other red flags too, so if you’re not convinced by now, you can continue reading to find out what other problems plague this fraudulent project.
What Kinds of Trading Platforms Are Available?
Gitex Capital bathes its platform in self-appointed compliments but fails to specify exactly what platform it is. They claim that the platform utilizes the latest technology and that it is available on any device. Our favorite benefit mentioned on their website is that the platform allows users to switch between dark and light themes. Besides the pictures and the claims of superior technology, Gitex Capital doesn’t let us know what are we dealing with here.
Further inspection revealed that the scam broker uses Webtrader, which is a favorite among scammers. Most professional brokers nowadays use the MetaTrader 4 or 5. Webtrader is way below both of these platforms in every way imaginable which is exactly why only scammers use it.
What Types of Accounts Does Gitex Capital Provide?
The company offers 5 different trading accounts which are supposed to be tuned according to the needs of varying customers. The accounts are Simple, Standard, Advanced, Professional, and Partner. The minimum deposits for these accounts go from 250US dollars to 25000 US dollars.
The accounts also vary in bonuses offered and trading instruments that clients can invest in.
The trading condition offered by the company look like they’ve been copy-pasted from a legitimate broker website, however they offer a leverage of 1:100 which is something a legitimate broker would never do.
Gitex Capital Trading Instruments: A Brief Introduction
Gitex Capital doesn’t experiment too much when it comes to the trading instruments it offers. Their webpage mentions shares, indices, currency, commodities, and cryptocurrency.
Each trading instrument has a separate page dedicated to it featuring a definition and an explanation of why Gitex Capital makes it easy to trade with the instrument in question.
There are no details available when it comes to what shares, indices, currencies, commodities or cryptocurrencies does the company offer. Each page features a few graphs depicting the prices of popular shares or commodities but it fails to mention what shares of commodities can you trade with Gitex Capital.
Methods of Gitex Capital Deposit/Withdrawal
The minimum deposit required by Gitex Capital is 250$ as we’ve mentioned before. The deposit methods might be the only good thing about this financial swindler. The company only accepts payments by debit or credit card.
Paying by your credit or debit card allows you to ask for a chargeback for up to 540 days after you have made your transaction. While this does relieve some stress, it is still important to mention that getting the refund might be a bit problematic because of the firm’s offshore location.
The withdrawal policy isn’t explained that well on their website. The only thing that we could learn was that there are fees applied to both deposits and withdrawals.
Besides that, the company mentions that accepting bonuses means that the client will be subjected to restrictions. Meaning that if you get a bonus you will have to achieve a trading volume of 25 times the initial deposit and the bonus added together.
Other than vague information such as this, not much is mentioned by the scam broker.
How Can I Get a Refund if Gitex Capital Stole My Money?
Luckily for people who fell victim to the scam, since Gitex Capital only allows deposits through credit and debit cards, getting their money is possible. It is more than likely that the scammer won’t simply allow you to withdraw your money, if this happens it would be good to save any evidence that you requested a refund.
To ask for a refund, simply contact your card provider and explain the situation. If you have all the evidence you need, the process shouldn’t be too complicated.
Gitex Capital Summary
If you read our Gitex Capital review in its entirety, you learned that there are plenty of reasons not to trust this scam broker.
The broker is unregulated, operated from a notorious scamming paradise, and offers no information about themselves.
Furthermore, their subpar trading platform is laughable at best. There is not a single reason for you to invest with Gitex Capital.
We hope this article provided you with some insight into how you can tell a legitimate broker from an investment scam.
FAQ about Gitex Capital
Is Gitex Capital a Legitimate Broker?
Gitex Capital operates without regulation and is thus not a legitimate broker.
What Funding Methods Does Gitex Capital Accept?
Gitex Capital accepts funding through credit and debit cards.
Is Gitex Capital a Good Broker?
Gitex Capital is not a good broker, they are a simple investment scam.