Grand Capital Review

Grand Capital

$10

Min Deposit

1.2

Min spread

2006

Foundation

Broker Trusted Point-1

Broker Trusted Point

Grand Capital has been a part of the trading market since 2006. If the broker has been in the market for such a long time, what do we expect? Utterly diligent and structured trade? We wish Grand Capital was the same. Yes, the broker claims to provide many benefits and bonuses to traders, but it all seems too pretentious. When something looks too good to be true in the trading world, chances are it is. Grand Capital appears to be chasing high profits without keeping in mind the standards of safe and secure trading for its clients and customers. Therefore, we did a thorough research about the broker to know whether it is safe or not to go with Grand Capital. Let us read into the review to know every inch of Grand Capital. 

Summary of Grand Capital

Grand Capital is an unregulated broker and comprises two companies based on the Grenadines and Seychelles. The broker serves in 40 major countries. High commission and spreads are attached to the broker. There are no educational materials available, and only a few research tools are available. 

Grand Capital Scam or safe? 

For a broker to come out as a safe trading mechanism, it must be regulated and authorised by a reputed authority. That is not the case with Grand Capital. Therefore, one cannot trust whether the broker is safe or not. We recommend other reputable and highly regulated brokers like HFTrading or TradeATF. 

Account Types

Instead of focusing on making things hassle-free and smooth, the broker seems to confuse the traders on which account they must choose. Most accounts seem to offer similar features with little or no disparity. Traders remand useful features and a wide range of benefits, not a hefty list of accounts that serve no different purposes. Let us look at each account in detail. 

Standard Account 

  • In the standard account, deposits start from 100 dollars and spread starting from 0.1. Even though the broker claims that spread starts from 0.1 dollars, spreads can go as high as 33 on many securities when looked closely. 
  • Commission for CFDs goes as high as 15 dollars. 
  • Leverage is as low as 1:1. Only on some instruments or securities leverage of 1:500 is available. 

MT5 Account 

  • If you want to have benefits of the MT5 platform, you need to open an MT5 account. Spreads start from 0.4 dollars, and the minimum deposit required to open the account is 100 dollars. 
  • Leverage is floating, only if your position is up to 3,00,000 dollars, then only leverage of 1:1000 is offered. Otherwise, leverage is pretty less. 
  • Only US dollars can be used as a base currency in this account. 
  • On forex, metals, indices, a commission of 5 to 10 dollars is charged per trade. Commission for CFDs is 0.1%, and fro crypto is 0.5%. 

ECN Prime Account 

  • The minimum deposit for ECN Prime account is as high as 500 dollars; spreads start from 0.4 pips. 
  • On forex, metals, energy, a commission of 5 dollars is charged per trade. On indices, the commission is 7 dollars. Commission for CFDs is 0.1%, and for crypto is 0.5%. 
  • Only 38 instruments are available for trade. 
  • Leverage is floating, only if your position is up to 3,00,000 dollars, then only leverage of 1:1000 is offered. Otherwise, leverage is pretty less. 
  • Only US dollars can be used as a base currency in this account. 

Micro Account 

  • A minimum deposit of just 10 dollars is required to open a micro account with Grand Capital. Spreads start from 1 pip. 
  • Only 66 instruments are available for trade.
  • There are eight base currencies and four metals that are used as a base. 
  • Leverage is as low as 1:1. 

Crypto Account 

  • One can open a crypto account with Grand Capital with a minimum deposit of 100 dollars. Spreads start from 0.4 pips. 
  • A commission of 0.5% is charged on all the cryptocurrencies. 
  • Only 68 kinds of crypto coins can be traded.
  • Leverage of 1:5 is allowed. 
  • Only the US dollar is used as a base currency. 

Swap-Free Account

  • Minimum deposit: 100 dollars.
  • The commission can go as high as 55 dollars.
  • One hundred fifty instruments are available for trade. 
  • Leverage starts from 1:1 and can go up to 1:500.
  • Only the US dollar is used as a base currency. 

Trading Platforms

Even though the broker claims that the MT5 platform is available for trade, it is only accessible to the traders who open an MT5 trading account. All other accounts are incapable of supporting the MT5 platform. The MT5 platform is only limited to a particular account, and this becomes a huge disadvantage. 

Moreover, the mobile trading applications of Grand Capital are very cumbersome to navigate through. There are a lot of tabs packed up altogether with no structure. Any new trader needs to take out time to understand and get accustomed to their trading platforms and applications. 

Products and instruments for trading

The broker claims that there are more than 300 assets and instruments available for trading. But when looked at with utter details in each category of instruments, be it forex, or stocks, there are very few products available for trade. Moreover, in many accounts like Micro or ECN Prime account, only very few instruments are available for trade.

Account Opening

The account opening process of Grand Capital is arduous and uncertain. When looked at their website, there are no particular steps mentioned in building and creating an account with the broker. This leads to confusion and hesitation for traders and investors to go further with the broker.

Moreover, the account verification process is very cumbersome and takes up a lot of time. 

Commission and spreads

Grand Capital is an expensive broker to trade with. The spreads vary from account to account, but they are very wide in nature. The average EUR/USD spread is as high as 17 pips on most of the accounts. These spreads are much higher than the standard spreads charges by other reputable brokers in the market. 

The commission varies from security to security in a different account. We have mentioned that when discussing the account types. 

Deposit and withdrawals

  • The ECN account has a minimum deposit of 500 dollars, and all other accounts take a minimum deposit for 100 dollars from the traders. Then why to brag about the minimum deposit of 10 dollars, when you offer it on just one account with bare minimum features and specifications. 
  • One can withdraw and deposit funds via bank transfers and electronic payment systems. A commission charge is associated with such payment methods. 

Research

While many brokers offer a wide range of research tools, only the Economic calendar and daily analysis are available with Grand Capital. 

Education

For educational purposes, there is nothing mentioned on the website. So we are assuming that Grand Capital does not pay heed to the research and educational material for their traders and investors. 

Why not trade with Grand Capital

  • A minimum deposit of 10 dollars is only applicable to one account.
  • The MT5 trading platform is available only on one specific account.
  • There are no educational materials available for novice traders. Also, research tools are limited too. 
  • Wide spreads and massive commissions. 
  • Unregulated broker 

Conclusion 

We do not think it would be a sound decision to trade with Grand Capital. When there are other brokers with excellent features at an average minimum deposit, why go with an unregulated broker and risk your trade. Apart from being unregulated, the broker does not seem to offer anything beneficial and unique to the traders. You can go opt for some renowned firm such as T1markets, Global TradeATF, PrimeFin and others.

 

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