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RXK Capital Review – Facts About RXKCapital.Com
Table of Content
RXK Capital Review, dear trader. You’ve probably been contacted by this suspicious entity and decided to do some research, we know how the story goes. So, we present to you this review in which you will read all about the fraudulent offshore broker known as RXK Capital and its devious plot to steal money. Let’s get into it, shall we?
|Leverage||Up to 1:500|
|Regulation||Unregulated Offshore Broker|
|Headquarters||Grenville Street, Kingstown, Saint Vincent and the Grenadines|
|Minimum Deposit||EUR 10,000|
RXK Capital Regulation and Security of Funds
Firstly, we’ll start by saying that this broker is an unregulated offshore provider based on a remote scam haven of an island known as Saint Vincent and the Grenadines. This infamous Caribbean tax paradise is home to countless fraudsters and wrongdoers due to its favorable laws and systems.
Moreover, it’s important to emphasize that SVG’s local financial market regulator – the Financial Services Authority (FSA), does not care about Forex trading whatsoever. In fact, the institution even said so on its official website, no Forex licenses here, folks. Therefore, there’s no doubt that RXK Capital is unregulated and extremely dangerous.
Just to add, the dubious broker claims that it’s on the path of obtaining a credible license issued by a top-tier European regulator. Whether that’s the case or not, we don’t know and don’t care. Our strong advice is that you avoid dealing with this provider as long as it’s unlicensed.
Trading Software Overview
The broker keeps bragging on and on about offering a world-class trading platform with its own signature touch on it, but we’re yet to see one. All that this illicit broker has is a basic WebTrader. Of course, this platform looks rather primitive and provides limited features.
There aren’t any advanced tools such as live-market reports and automated trading customization, just basic charts and TA indicators. Plus, since the broker is unregulated, it’s very likely that the platform is also rigged. Yup, stuff on the screen is moving, and numbers are popping up jumping & dropping, but that’s all fake. The only thing you can do is deposit funds.
Thus, if you don’t want to limit yourself to a rudimental platform with a suspicious background, find a reliable and licensed broker that offers top-notch trading software such as Meta Trader 5.
Accounts Types Offered
From what we’ve gathered, RXK Capital offers five different account types:
- Standard – EUR 10,000, leverage 1:20, commission 10%;
- Advanced – EUR 20,000, leverage 1:40, commission 8%;
- Platinum – EUR 100,000, leverage 1:60, commission 6%;
- Expert – EUR 250,000, leverage 1:00, commission 4%;
- VIP – EUR 500,000, leverage 1:150, commission 2%.
Would you look at that? It seems that RXK Capital demands a king’s ransom just to enable clients to trade. EUR 10,000?! Preposterous. You can find countless legitimate brokers that require 40 times less to get you started.
Furthermore, if RXK Capital really intends to obtain a European license, it has got to do something about that leverage. To elaborate, in the UK and EU, the maximum allowed leverage is 1:30 for FX pairs for retail clients. As you can see, our fraudster exceeded that level considerably – here, leverage caps at 1:500!
At such high a level, traders are at huge risk of losing everything in a heartbeat. When it comes to spreads, they weren’t disclosed, thus we don’t know a key trading condition.
What Can Be Traded on the Market at RXK Capital?
Regarding the trading assets that RXK Capital allegedly offers, here’s the list:
- Forex – EUR/USD, AUD/NZD, GBP/EUR…
- Crypto – Bitcoin, Ripple, Litecoin…
- Metals – gold, aluminum, silver…
- Commodities – natural gas, crude oil, rice, wheat…
Not bad when it comes to the choice of instruments. You have all the classics here as well as some less popular options. However, we still stand by our opinion that you shouldn’t invest with RXK Capital, despite a great portfolio of trading assets. It’s there just to lure you.
Bonuses and Promotions
Unfortunately, RXK Capital offers bonuses. That’s bad and we’ll explain why. There’s a 100% deposit bonus in store. You should know that all the renowned UK and European regulators have banned brokers from issuing bonuses. These treats always come with strings attached. Check it out.
Basically, you have to trade up to an unrealistically high amount (in this case, $100,000) just to be able to withdraw money. If you don’t, RXK Capital can easily rub this clause in your nose and point out that you previously agreed to trade under such conditions. Therefore, stay away from phony brokers that offer bonuses.
Deposit and Withdrawal Methods
RXK Capital upright states that it accepts credit/debit cards, wire transfers and e-wallet payments. However, we don’t rule out that this shady provider also accepts cryptocurrencies. The minimum deposit is a whopping EUR 10,000! Plus, there are fees in place that will make any trader’s life a living hell.
If RXK Capital Scams Me, How Do I Get My Money Back?
If you’ve deposited funds via credit/debit card, you can request a chargeback at the issuing bank within 540 days and reverse the transaction.
In the case of wire transfers, the same process is known as a recall. For the recall to be successful, the transaction must not be completed. Thus, it’s imperative to act quickly.
Crypto transfers are tricky. They allow the scammer to remain anonymous and are really hard to reverse, albeit possible. All you have to do is trace the transaction to a wallet within a crypto exchange. Only then can you request a refund from the exchange.
RXK Capital Summary
- RXK Capital is a fraudulent offshore broker located in SVG;
- The provider is unregulated and dishonest, claiming to be in the process of obtaining a license while violating the rules set forth by the same;
- The minimum deposit is a staggering EUR 10,000;
- Leverage is way higher than the legal limit;
- The trading platform is shady and unreliable.
FAQs RXK Capital Powers Broker
Does RXK Capital Offer a Demo Account?
RXK Capital does not offer a demo account anywhere on its website.
What is the Minimum Deposit For RXK Capital?
The minimum deposit that RXK Capital requires is EUR 10,000.
What Are The Funding Methods For RXK Capital?
RXK Capital claims that it accepts credit/debit cards, wire transfers, crypto and e-wallets (not specified which).