Why Grand Capital Sucks In 50 Words
The minimum deposit requirement for an ECN account is 500 USD, which is above the average for the industry. On the flip side, you can open a Micro account starting at just 10 USD but the ECN has lower spreads, better execution, and higher leverage, so if you want to have the best conditions, you will have to meet those requirements.
Editor’s Note: Why Grand Capital Doesn’t Suck In 50 Words
TThis broker enjoys constant recognition in the form of awards, some of which include: “Best Affiliate Program” from MENA Financial Expo 2016, “Best Trading Technology” from Moscow Financial Expo 2016, “Best Forex Broker in Africa” from Africa Financial Expo 2017, “Best Forex ECN Broker in Africa” from CIO East Africa 2019 and the “Best Investment Service Provider in Africa 2020.”
Is Grand Capital A Scam?
The firm has been operating since 2006 so we can call them a long-timer, an experienced broker but we cannot call them a Scam. Furthermore, they have been assigned category A – the highest possible regarding reliability – by their regulatory body (FINACOM) and since 2018, the funds of their clients are protected by Serenity, which is a blockchain-based escrow. If a dispute arises between the broker and a client, Serenity will block the disputed amount until a resolution is reached.
Should I Open An Account With Grand Capital?
GrandCapital is a CFD broker with a long time in business, which offers a variety of trading instruments, including currencies, cryptocurrencies, metals, stocks, indices, and more. The broker is owned by Grand Capital Group, which is comprised of Grand Capital Ltd. 24598 IBC 2018, located in St. Vincent and the Grenadines, and Grand Capital Ltd. 036046, located in Mahe, Seychelles. GrandCapital is regulated by The Financial Commission, which is an independent self-regulatory organization and external dispute resolution (EDR) body.
Despite the lack of major regulation, this brokerage has some features that put it above average in my book. First up, the platform choice is great: Meta Trader 4, Meta Trader 5, web trader, and GrandTrade mobile app. All of these platforms are top of the line, with technical analysis capabilities and a user-friendly interface. Of course, don’t expect to see the same features on the downloadable Meta Trader and on the mobile app, but the portability of the latter makes up for some of the missing features.
Grand Capital offers a Demo account with a virtual balance of 10,000 USD and six Real accounts: Standard (deposit – 100 USD), Crypto (deposit – 100 USD), ECN Prime (deposit 500 USD), Micro (deposit – 10 USD), MT5 (deposit – 100 USD) and Swap-Free (deposit – 100 USD; designed for traders of Islamic faith). As you can see from this account structure, Grand Capital offers something for everyone: Demo for practice, very low deposits if you simply want to test the waters and regular deposits for more experienced traders.
Overall I like this brokerage better than others. The very low minimum deposit combined with great platforms and “no hassle” live support makes them a good addition to the ever-expanding pool of online brokers.
The broker lists two addresses: GrandCapital Ltd. 24598 IBC 2018 (Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines). Grand Capital Ltd. 036046 (Suite 102 Aarti Chambers, Mont Fleuri, Victoria, Mahe, Seychelles). They can be contacted at email [email protected] and phone +1 646 844 7187.
Grand Capital Complaints
Apart from a few isolated cases, Grand Capital enjoys a good reputation among users. Of course, no broker is without complaints, so you will find the usual unsatisfied customer here and there but there are no horror stories and no major scam allegations.
Grand Capital Regulatory Warnings And Announcements
At the time of writing, there are no warnings or announcements coming from any financial watchdog regarding Grand Capital. If this will change in the future, we will make sure to update the review accordingly.
Grand Capital Bonus
The bonus for offered by Grand Capital is 40% for the first deposit. Client’s money is free to withdraw, as well as the profits made using the bonus, which is a major advantage. Through trading, the client can eventually withdraw the bonus as well: 5 USD per 1 traded lot.
Grand Capital Withdrawal
Funds can be withdrawn via credit cards, wire transfers, Bitcoin, and tons of e-wallets, including Neteller, Perfect Money, Skrill, WebMoney, PayPal, and much more. Withdrawals via wire take between 3 and 5 working days, while the rest usually take up to 3 business days. There are no minimums specified on the website.
Grand Capital Extras
LAMM (Lot Allocation Management Module) Investment Portfolios, and other copy trading services are available at Grand Capital for beginners who are just making their first steps but also for experienced traders who want to save time or simply to diversify their trading. Grand Capital also organizes trading contests on a regular basis.
Grand Capital Ratings
User Friendliness 16/20
There’s a lot of info on their website but it’s all structured well so I didn’t have any problems finding what I was looking for. The website is translated into 11 languages, Demo accounts are available, as well as mobile versions of the platform. U.S. traders are not accepted.
Range Of Markets, Spreads, And Leverage 16/20
The asset basket is huge, with over 500 assets on Meta Trader 4 and approximately 450 assets on Meta Trader 5. The spreads are tight for the ECN Prime account (as low as 0.4 pips) and medium for the other accounts. The leverage goes up to 1:500.
Fees And Support 15/20
It’s free to open an account, support is very fast and, more importantly, it is actually helpful. Withdrawal fees range from 0% to 2% but in some cases they can be higher, depending on the bank or payment processor.
Deposits And Withdrawals 15/20
There are a lot of methods for deposits and withdrawals but the processing times are not the fastest. While most deposits are processed within 15 minutes, Ethereum, Ripple and other cryptocurrencies can take up to 1 day and some bank transfers up to 5 business days. Most withdrawals take up to 3 business days and the minimum is not specified.
Website Extras 16/20
LAMM, (copy trading service) as well as Investment Portfolios and trading contests on a regular basis. All are good additions to an already top tier broker.
Grand Capital Overall Ratings (78) + Regulated (+3) = 81/100