**CapitalXtend: customer reviews of the company’s work in 2023**
CapitalXtend attracts newcomers with enticing deposit bonuses and the opportunity to increase profits without much effort. This offer attracts many, however, judging by the abundance of reviews, collaborating with this broker does not bring the expected earnings. Users not only lose their funds but also risk ending up in a debt trap. An independent review study reveals the reasons why we recommend adding this company to the blacklist.
Main facts about CapitalXtend
CapitalXtend, according to their statement, has been providing brokerage services since 2005 and claims to have more than 30,000 accounts registered on the platform. Additionally, the company reports having 8 offices in various countries, although the exact coordinates of these offices are not disclosed. The statistics turned out to be exaggerated.
There were also discrepancies regarding the duration of operation. Despite claims that CapitalXtend has been operating for many years, the website was only registered in 2020. This does not correspond to the company’s official history.
Contact information provided includes an email (verified during checking) and a phone number. However, this number is associated with fraudulent organizations that have received false positive reviews.
According to the Scamadviser service, the CapitalXtend website received a low rating. Other negative aspects were identified:
- Owner’s data is hidden,
- Services carry a high level of risk,
- Reviews confirm the provision of fictitious services.
Legal information
The “Client Agreement” states that CapitalXtend is operated by the company Capitalxtend LLC, registered in Saint Vincent and the Grenadines. This is confirmed by the registry data of the island state companies. However, it is important to distinguish between a registration certificate and the necessary license for legally providing brokerage services. In Saint Vincent and the Grenadines, licenses for intermediaries are not issued, and their activities are not regulated. This warning is stated on the regulator’s website.
The company attempts to circumvent this situation by claiming that Capitalxtend LLC is licensed in the Republic of Mauritius. However, verification revealed this to be false information, and the pseudo-broker operates outside the laws.
Offered benefits by Capitalxtend
Capitalxtend offers to deposit a minimum of $300 and receive a 30% bonus. Many investors were enticed by this offer, but the conditions turned out to be dubious. Features of the commercial offer include:
- 5 tariff plans with minimum deposits ranging from $100 to $25,000,
- List of available assets includes spot energy carriers, metals, CFDs on indices, stocks, cryptocurrencies,
- Utilization of MT4 and MT5 platforms,
- Spreads from 0.1 points,
- Stop-out from 10 to 50%,
- Margin call from 80 to 100%,
- No commissions and swaps.
- Copy trading and PAMM investing are offered for passive income.
Customer reviews
On various independent forums, numerous negative reviews about Capitalxtend can be found. Positive comments are likely paid for, as they contain false data about long-term cooperation, stable payouts, and more. The broker does not provide necessary legal documents, so its activities may be trading imitation, and payouts are not guaranteed.
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Fraud scheme
Capitalxtend from the very beginning offers users bonus rewards but does not disclose the conditions for obtaining them. In reality, the requirements turn out to be too high, and fulfilling them is practically impossible. As a result, users are left with large sums on the platform. Attempts to recover lost funds may lead to even greater losses. The company operates to attract capital, not to provide services.
Review summary
Capitalxtend is not a reliable financial partner that fulfills its obligations honestly. The pseudo-broker makes efforts to deprive you of funds in the shortest time possible. Furthermore, scammers may lure you into a debt trap from which it will be difficult to escape even with the help of professional lawyers.
As a customer, I am deeply dissatisfied with CapitalXtend’s performance in 2023 as their brokerage services fell far below my expectations.
My experience with CapitalXtend in 2023 was far from satisfactory. Their customer service was abysmal, often unresponsive and indifferent. Furthermore, their trading platform was full of glitches which led to significant losses. Their lack of transparency was also a major concern, with hidden fees popping up unexpectedly. Overall, my experience with CapitalXtend was quiet frustrating and I wouldn’t recommend them.