MyCapital

MyCapital | 2022-11-01 00:02

Ikhtisar：MyCapital is an online forex broker providing a series of trading instruments for its clients. This broker gives their clients multiple choices of trading accounts and access to the popular MetaTrader 4 platform. MyCapital is not authorized or regulated by any regulatory authority. Please be aware of the risk.

Basic	Information
Registered Country/Region	China
Regulation	No License
Minimum Deposit	$250
Minimum Spreads	From 0.4 pips
Maximum Leverage	N/A
Trading Platform	MT4 trading platform available
Payment Methods	N/A
Customer Support	Email Support

General Information

MyCapital is an online forex broker providing a series of trading instruments for its clients. This broker gives their clients multiple choices of trading accounts and access to the popular MetaTrader 4 platform.

MyCapital is not authorized or regulated by any regulatory authority. Please be aware of the risk.

Account Types

Four types of trading accounts are on offer: Cent, Mini, Standard, and VIP. Overall, the minimum deposit required by each account is quite high, with the Cent account from $250, much higher than its peers; requirements for this types of accounts. while the other three accounts even ask for more, the Mini account from $1,000, the Standard account from $10,000, the Standard account from $100,000.

Account Types	Minimum Deposit	Max. Leverage	Spreads
Cent	$250	N/A	From 2.4 pips
Mini	$1,000	N/A	From 2.4 pips
Standard	$10,000	N/A	From 0.4 pips
VIP	$100,000	N/A	From 0.4 pips

Obviously, trading with an unregulated forex broker requiring so high deposits is taking a huge risk of losing your money. Thus, extra vigilance should be taken.

Trading Platform

Clients of MyCapital are offered trading on Status Webtrader, as well as the industry leading MT4 trading platform. the presence of the MT4 is always considered as plus of any broker, as the platform provides a full set of trading tools and features: a number of built-in technical indicators, as well as other perks. Besides, the MT4 is available as desktop, web and mobile app devices.

Deposit & withdrawal

MyCapital allows its clients to make a deposit and withdrawal through multiple payment methods, which include PostePay, Sofort, UPayCard, VISA, Wire Transfer and Entropay.

In MyCapitals withdrawal policy, one can read that withdrawals are charged pretty salty and besides, a levy of 10% is charged to any withdrawal from an account that has not executed more than 200 in turnover. This is not a common practice among forex brokers and subjects their clients to unnecessary additional risk.

Customer support

MyCapital offers the poor customer support, and clients can only get in touch with this broker through an email: support@mycapital.io.

Pros & Cons

Some advantages and disadvantages of MyCapital are clearly listed below:

Pros	Cons
MT4 trading platform	Not regulated
Four types of accounts to choose from	High minimum deposit
	High Spreads
	Insufficient company info
	High withdrawal fees
	Only email support available