Thinking of trading on Nitro Capitals? Here is what you must know about this broker. Carefully read this review to find out if nitrocapitals.com is the trading platform you will want to trade with.
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About Nitro Capitals Broker
Nitro Capitals is an offshore brokerage company with a lot of promises for traders. The broker’s address shows Yonge Street, Toronto, M5B.
Nitro Capitals offers pips up to 1.0 as well as negative balance protection and stop loss functions. Also, the broker sends signal and market analysis to traders via e-mail.
In spite the trading instruments Nitro Capitals claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
nitrocapitals.com: Reasons to Avoid This Broker
nitrocapitals.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Investment Industry Regulatory Organization of Canada (IIROC) does not recognize this broker.
Another red flag we noticed on nitrocapitals.com is that it has no demo account for traders. Since traders can’t test Nitro Capitals broker on a free account, then we can’t know its viability in the forex market.
Since the broker does not offer money back guarantee, it means trading on any account type is clearly a risk as your money will not be refunded.
This is a warning for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Nitro Capitals presents us with information on its withdrawal and fee.
The broker charges 10% for an inactive account of 3 months.
Minimum Deposit
Nitro Capitals minimum deposit is $250.
The broker accepts payments via Debit/Credit cards and Wire transfer. Nevertheless, you should not consider making any payment with this broker because it is a risk. So beware!
Nitro Capitals Platform
Nitro Capitals operates a Web based trading platform. The broker refuses to make use of industry standard (MT4 or MT5) that are widely accepted for better trading.
As for the leverage, it can be increased up to 1:200.
Nitro Capitals Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. In fact, It is not under Investment Industry Regulatory Organization of Canada (IIROC) that means your money is at risk. Its licensed and regulation claims are false and a major red flag.
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Conclusion: Is nitrocapitals.com a Reliable Broker?
nitrocapitals.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
The broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.