Started in 2006 in Saint-Petersburg, Russia, Grand Capital is an online broker that originally started off as a FX and CFD broker. But since 2010 they have expanded their services to include binary options. If you are thinking about registering for a Grand Capital account, be sure to read our Grand Capital scam review before you make your final decision.
Grand Capital Scam Review
Grand Capital Bonuses
Grand Capital offers a number of bonuses to attract new clientele. Their most attractive bonus is their $500 No Deposit Welcome Bonus.(include link to no deposit bonus article)
Besides the $500 welcome bonus, Grand Capital offers three other bonus options.
The first being their 40% deposit bonus where they claim to add 40% of any deposit given. However, the terms and conditions of this bonus, like the others, make it either useless or too much of a hassle to use.
One condition is that if you wish to increase your leverage then you cannot participate in this bonus as all of Grand Capital’s bonuses only apply to accounts with 1:100 leverage. Also, you can only participate in one Grand Capital bonus.
They claim that there is no limit to the bonus however the bonus funds actually cannot exceed $20,000 according to their terms and conditions. On top of that, the bonus is only valid for 6 months, after which it is removed from your account.
While this bonus may be useful for a few, long term advanced traders may not benefit much from it.
The two other bonuses available are Invite a Friend and Risk-Free Trading which, like the rest of Grand Capital’s bonuses, come with ome very strict terms and conditions.
Continue reading our Grand Capital honest review to find out more.
Grand Capital Accounts
Grand Capital offers five different account options which are:
- Swap Free
The Swap Free account is specifically designed for traders of the Islamic Faith and does not charge any commission when positions are transferred after 12am. This seems to be the only serious perk of this account. However given Grand Capital’s questionable operations we encourage Islamic traders to find a better broker to trade with.
Their Standard account offers their widest range of instruments however it pales in comparison to other brokers with more instruments and better returns. The Standard account differs from the Micro account because while the Micro account carries a minimum deposit of $10, the Standard account has a minimum deposit of $100. It also offers futures and CFDs while the Micro account does not. The Micro account is geared towards beginners while the Standard account is geared towards intermediate traders.
The final two options are the ECN and Options trading accounts. The ECN account is for advanced traders and carries a minimum deposit of $1000. While the Options account is for binary options traders. They also claim that you receive 86% profit per successful transaction but claim is best taken with a grain of salt.
Although the Grand Capital scam offers both forex and binary options trading, a broker with such poor dealings is best avoided.
Grand Capital Platforms
Grand Capital offers two platforms for their client to use, the highly popular MT4 trader and a WebTrader.
While the MT4 Trader is renowned for its advanced tools and analysis, it is sort of a pesky download when taken from the Grand Capital website and seems to have connection issues whether you use it on a Mac, Windows or even a mobile app.
The WebTrader lacks key tools which can easily be found in WebTraders of other forex and binary brokers.
Grand Capital Customer Service
Grand Capital may have started in Russia but they have since grown and now have offices worldwide. This is a testament to how they operated in the past, but now their mode of conduct is questionable.
It seems the Grand Capital opinions of clients are that they are foolish. That would be the only explanation for the poor treatment that their clients receive from their customer support staff.
We will give one point to Grand Capital and that is for having separate departments for separate issues and enquiries. They also use different ways of contacting them which includes email, live chat or telephone.
But from our experience and that of countless others, Grand Capital’s customer service reps project a rotten attitude and also lack the basic understanding and knowledge of trading to properly assist clients.
The Grand Capital customer service staff needs to be retrained or else the company could see their clientele start dwindling.
Thank you for reading our Grand Capital forex review. While they may offer an account for Islamic traders, Grand Capital’s poor customer support along with subpar trading platforms and stringent terms make them a very undesirable broker. We recommend you find a more competent and trustworthy broker.