Have you thought about trying out CapTrader, a forex broker? A forex broker with more than 20 years of expertise, CapTrader. CapTrader is on the radars of many forex traders because of its affordable costs and a broad selection of trading markets. So, do you fit for CapTrader? Read our in-depth CapTrader review before making a purchase and make your own judgment.
A forex broker called CapTrader was established in Germany in 1997. They still have a basis in Germany, but they have expanded to operate globally. This CapTrader broker review will mostly concentrate on broker-related trading services.
The broker has received a lot of feedback from the industry over the course of their two decades in business. Our goal in writing this CapTrader review is to present the product as impartially as we can, giving you the power to decide whether the broker suits your trading preferences.
CapTrader Account Opening
You can open an account with CapTrader with a fair amount of simplicity. Even those who are fresh to the field may attest to this. Your first choice in this situation is whether to choose a demo account or a real account.
Opening a demo account with CapTrader may be a practical and prudent first step, especially for traders who are new to the market or the broker. You simply need to finish a few easy steps that call for basic personal information to do this. After that, you can start trading on your CapTrader demo account.
The process of opening a CapTrader live account is slightly more difficult because you need to verify your documents, such as your identity and address proof documents, and provide more personal information. However, if your paperwork is in order, you can finish everything without experiencing undue stress and should be set up and prepared to trade within an hour.
The minimum deposit amount with CapTrader is 2,000 EUR, USD, or GBP, depending on the base currency you are using. This is very high in comparison to others in the sector and is likely to exclude many new traders right away.
Availability of Accounts and Types of Accounts
Account Types and Account Availability
Our evaluation team believes that the broker only offers two different sorts of ordinary trading accounts when it comes to CapTrader account availability. The review team at CapTrader has observed that it acts as an introducing broker for Interactive Brokers. Additionally, this brings up the possibility of several additional account kinds and marketplaces from a reputable broker that has been in business since 1978.
You may trade in a wide variety of various markets with CapTrader’s regular account type, nevertheless. A cash account or a margin account are your options. The latter permits margin trading, but you have to be older than 21.
It’s interesting to note that CapTrader is one of the few brokers to allow US traders.
Offerings for CapTrader Products
It might be challenging to understand exactly what markets and products are available at CapTrader. Numerous data are mentioned, including the hundreds of “exchanges” or indexes that are accessible globally. This variable availability of markets and products may be connected to CapTrader’s position as an IB in a constantly changing environment.
However, the most specific information we can uncover is that CapTrader now offers 120 markets for trading. This offering includes trading in stocks, options, futures contracts, CFDs, and a total of 22 major, minor, and exotic forex currency pairs through a variety of trading platforms.
Overall, this broker offers a wide range of trading options, despite the fact that the primary focus of currency markets is somewhat constrained by contemporary standards.
CapTrader Fees and Commissions
CapTrader’s commission and fee structure might appear to be affordable in some areas while being quite expensive in others. The prices that are charged are often fair, and many services, including deposits, are provided without charge. Fees for withdrawals begin to apply after two each month, and they may be as high as eight euros for bank transfers.
Every trader with equity below $1,000 is also assessed an inactivity fee, though it isn’t entirely clear what this fee will be.
The platform charges a clear and less attractive commission on the majority of assets, starting at 0.3 base points. When compared to other companies in the market that frequently offer limited spread accounts, this is expensive.
Platforms And Tools For CapTrader
CapTrader excels in this area compared to rivals since they provide a variety of platforms and assistance for them. Through CapTrader, you can access desktop, web-based, and mobile platforms as well as APIs to help you with customizations as needed. Naturally, all of these platforms are compatible with trading on Interactive Brokers as an introducing broker.
The Trader Work Station is both IB and CapTrader’s primary flagship platform (TWS). This platform is strong in design and comes equipped with everything you need to make your journey through the world of FX trading easier.
Here, you may take advantage of quick, efficient ordering and have access to a variety of expert charts and analytical data to help you. The platform is very user-friendly and intuitive, and it can also be highly customized to exactly match your trading style.
Trading in your browser is also very accessible and highly professional thanks to the CapTrader Web trader.
As a CapTrader customer, you will also have access to the practical AgenaTrader platform, which, if you find it appealing, may assist in entirely automating your trading procedure. Also, read Charles Schwab review.