Anonymous
Sometimes it’s difficult to know when a company/exchange website is a scam or not until you need them to solve a problem or until they take your money away. My experience with capital.com started after I tested many other exchange websites. I started with the demo account. The first funny thing was when I created my account. I mistyped my email from gmail to gfmail and capital.com recognized the email as real. It may seem like a small thing, but it shows that the system used by capital.com is inefficient. After few days trading, everything was going well when suddenly the demo account started to reject all purchases even when the existing fund was much higher than the purchase value of the stock. When I contacted the capital.com team, they said they already knew about it and were trying to fix the problem. After a few days the problem was not resolved so I decided to create a live account with a small amount of $1000. The first purchases were going well. The process was simple: You find your market; in the chart area you have icons on the right side with information about the chosen market and also buy and sell buttons in the chart area. When you click either on buy and sell button, the site opens a sidebar asking you to confirm the action (this is where you can also set up additional items). The second problem came when I was analysing an oil commodity. The information icon was not there. But I knew that if you click on the buy button once, it should open the sidebar to confirm the purchase and show other information as stated above. However, the site did not open the sidebar and purchased the commodity without confirmation question. From this point on, the instability of the site became more obvious. Evidently, I sold the stock quickly which cost me just a few dollars. But the worst case (and obviously the last one - because I cancelled my account) was when I was having breakfast with my wife and I suddenly got a notification on my phone that my order had been executed. "What do you mean my order was executed" I said surprised to my partner. When I accessed my account, I realized that the website had executed a purchase without my authorization, without any pre-order placed by me – and it was done just a few minutes before the market close for weekend – which would generate 2 days of overnight costs. In additional, I never execute a short trading just a few minutes before the market closes. Well, I got in touch with the capital.com team again and the people who seemed ok to give it to you, made a point of not understanding my problem even though I had provided the purchase ID for investigation. They also asked me for information that I clearly couldn't produce like a video of what happened. How can I make a video of something that has already happened? From a problem based on clear website bugs/instability. It was clear they didn't want to solve the problem. Anyway, despite having lost only 25 dollars, the problems were so serious that I decided to cancel my account and I'm reporting them to local authorities. As I said, not for the money, but for the seriousness of the problem. Imagine if I hadn't triggered the notification on my phone? What if the phone wasn't by my side? I could have lost much more money because of an unauthorised purchase action. Of course, I thought that I might be being attacked by hackers, but it didn't make much sense to me as my loss would not benefit them much. And if so, it would also show insecurity of the capital.com exchange website – which by the way in my opinion is insecure and full of bugs. As mentioned above, I used a few exchange websites, no more than 15 – since I’m looking for a suitable one. But problems like that so far only happened with capital.com. Other times, when I sold a stock, the purchase was executed by one click without any prior confirmation - which normally does not happen. And the “One tap trading” setting has always been off on my account. And just to make it clear that due my engineering background my knowledge of technology is reasonably solid, as well as my analytical sense – which has led me to the position of technical manager in my professional career. I just want to say that I am very comfortable with my actions within an exchange website, mainly in terms of configuration, analysis and planning. Also, I consider my computer secure with no virus issues. Anyway, I only lost 25 dollars but they lost a gradual investment of 400k for the first year. I'm very grateful that I saw the problems before to increase the investments. This is away demo account and live account with low amount of money is essential. This saved me from major headaches.
2 years ago
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Capital.com has a 4.3 average rating from 86 reviews

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