Capitalway Group review – 5 things you should know

Beware! Capitalway Group is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Honestly, Capitalway Group is not much. Even if we had not though of it as suspicious upon first looks, we still would have lifted a figurative hand in dismission. There just isn’t what we are looking for in a broker, and furthermore, we have enough evidence for this one to deem it offshore and a fraud. Read the review to find out more.

Registering was a breeze, however what followed was an issue. The problem took the shape of the trading platform, or therelackof. In essence there was no trading terminal, which means that there is no real spread values, no leverage, and no trading assets.

The website’s only available language is English.


Capitalway Group reveals in the Terms and Conditions that it is located in Bulgaria, not the first place one thinks when mentioned forex brokers, but not the last either.
The Bulgarian equivalent to a financial regulator is the Financial Supervision Commission (FSC). The agency is not as known or strict as other European entities, evidenced by the presence of a number of shady firms in the country. Nevertheless, the commission offers a compensation scheme covering up to 90% of the clients funds should a broker under its supervision fail to pay its dues. The sum, however, is €20 450, and does not go more than that.

One thing to say of importance is that the broker does not actually claim to be regulated in Bulgaria, but only that it is located there. And furthermore, there is no proof in the FSC’s registry of licensed firms that is holds a regulation from Capitalway Group. Being located somewhere and registered as a company is not enough to be offering legal FX services.

Further down in the Terms and Conditions, Capitalway Group mentions this time that it functions under the laws of the England and Wales. Without having a license from the FCA, these claims are as good as Monopoly money. And to make things worst, Capitalway Group is blacklisted by the FCA. In order to get blacklisted by an A class regulator, you must really be stirring up some trouble.

This broker is completely UNLICENSED, and therefore a risk to all investors.

Traders should be trading with risk-free brokers, that hold licensed from renowned and austere agencies, like the FCA or CySec , which have made a name for themselves as some of the top regulators. Readers should be aware that both agencies have adapted very strict rules of conduct, and their licensing framework guarantees safety and security for all clientele. A good example of this is the segregation of accounts which assures that client money and broker money are kept in separate accounts. Furthermore, FCA/CySEC brokers participate in a financial reimbursement scheme that cover traders losses in case the broker becomes insolvent. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

Here is further proof that the broker is not in possession of a license. The clause claims that it is the user’s own responsibility to make sure he or she is authorized by his/her own state/jurisdiction. This is just putting the ball in the user’s court. Legal forex brokers are the ones in charge of providing legitimatized trading services.


What ever the trading platform might be, it falls under a different name. That name is one eastridgecapital, something that has nothing in common with the broker at hand. This has happened before with previous brokers, and will happen again for sure.

In essence what this means is that Capitalway Group does not really have a trading software.

Nevertheless, we did find a spread clause feeding the unregulated nature of Capitalway Group even more. Registered users give the right to Capitalway Group to amend their spreads without notice from time to time.


The minimum deposit is not mentioned anywhere, even on the user area; the client must provide ID documents before depositing anything anything. The deposit methods according to the user dashboard are credit card, debit card, and wire transfer.

The minimum withdrawal amount is $100 according to one source in the legal documents, and €50 according to a second one. However, we believe it is €50 because the user dashboard reveals so. Withdrawals can be done via wire transfer and bitcoin.

Judging by a clause in the Refund Policy, the processing time for withdrawal requests is 3 days. Withdrawal fees are as follows. Every first withdrawal once a quarter is free. The second withdrawal in the same quarter is charged a €40 or0.25%.  We are not sure what a quarter constitutes. It either is quarter of the month, or the year.

There might be other fees but, as expected, they are not accounted for. Therefore, we do not know what these fees actually are.

The dormant account fee is applied after a user has not been active in her account for more than 6 months. The penalties for this are the deletion of all active bonuses, and a 10% charge applied monthly, not less than €25 and no more than €78.90

There is a very interesting little clause that tell registered user that they will solely be observers and that they cannot conduct any actions on their own. Does this mean that Capitalway Group takes over your account and does what ever with it? The only way to find out is not the way we advice you take.

As a typical unregulated broker Capitalway Group includes many indemnification clauses that act as protection against any legal claims from financially victimized traders/users. Here is one of the big clauses that we came across:

There are for worse cases than Capitalway Group, yet this one is still not to be entrusted with any kind of  investments. It is unregulated, and as such a risk to all!

How does the scam work?

Users will be in the middle of a scam without even knowing it, that’s how efficient these scams are. Yet, clients will also be surprised that the most utilized scammer structure is laughably easy to grasp, making it predictable. We have dedicated the following section to the reveal of how the scam works.

The internet is filled with ads, it’s the fuel of the industry, and a big chunk of said advertisements are misleading and some are downright deceitful. The ads concerned with unregulated forex brokers are often very promising, and most of the times utilize completely false claims of immediate profit. Those tempted enough will be redirected to a robo-scam website that further guarantees profits. The only thing that separates the user from the unrealistic promises is a fast registration process that requires a phone number and an email address. After inputting this info unsuspecting users will start getting phone calls from illicit broker representatives, whose one and only job is to initialize the scheme by pushing a trader to make that first deposit of around $250. After that’s done, the senior representatives will be calling. These expert scammers are extremely good talkers, and will start working on you to start putting even more money in. They say that the more money invested, the higher the profit will be. At this point most traders start seeing the big picture, and will want to withdrawal their money and get out fast.

However, the scammers have anticipated this development, and are ready to counter any withdrawal request. Typically they find excuses for delaying the request in the legal documents that hold specific clauses for these purposes. The reasons are many. One thing to remember is that all illicit brokerage firms will deny the withdrawal request for as long as they can, because of the imposed time limit traders have for filling a chargeback. Once the crucial due date is not met, any chargeback requests will be denied.

What to do if scammed?

Those of you who deposited using VISA and MasterCard will be glad to know that both companies have extended their chargeback time span to 540 days, especially if the reason for it is an online scam.

Scammers will steal directly from a bank account, if the traders has provided crucial details, like banking password or security code. If it get down to this, be sure to either block the account or change the password.

Sometime victimized users will stumble upon the so called recovery agents that promises to magically reclaim all lost investments, for a fee that is. Needless to say, they will not get back any of the lost funds, and will basically scam you a second time

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