Why xttCapital Sucks In 50 Words
No regulation – keep in mind they are no longer tied to MET Facilities LLP, which is an FCA regulated company – and their sign up process is messed up. All Registration buttons we’ve tried have returned a 404 error or some other form of the failed process.
Why xttCapital Doesn’t Suck In 50 Words
The minimum deposit is just 100 Pounds or equivalent currency and considering that the average in the industry is $250, this low minimum is a positive trait. However, it’s not something that can be considered a major plus or an advantage that could make us recommend this broker.
Is xttCapital A Scam?
Investoo is part of Investoo Group, which describe themselves as “The largest financial affiliate and lead generation company in the world“. And since xttCapital is the trading name of Investoo, what are we dealing with here? Is this an affiliate funnel or a broker? Are they simply using their brand xttCapital as a tool to generate leads? Maybe that’s the case because the website looks very barebones and without too much content. What’s even worse is that they don’t even have a working trading platform or a functional sign up process (more on that later).
Adding to all that, Investoo is no longer an appointed representative of MET Facilities LLP but they are still saying they are. Keep in mind the status transformed to “No longer registered as an Appointed Representative” in October 2018 and I am writing this in mid-2019 so they had enough time to change the information on the xttCapital website but they didn’t.
Should I Open An Account With xttCapital?
xttCapital is an online broker launched in mid-2018 and focused on CFD trading on various assets, including currencies, cryptocurrencies, indices and stocks. The website is owned and operated by Investoo LTD, a company registered in England with number 10497349.
According to the website, Investoo Ltd is an appointed representative of MET Facilities LLP, which is a company authorized and regulated by the British Financial Conduct Authority (FCA) under reference number 587084. However, according to the official FCA website, Investoo is no longer an appointed representative of MET Facilities LLP since October 2018, so the current status is foggy.
As mentioned before, the minimum deposit is 100 Pounds but that’s all the information we managed to find. The withdrawal procedure is not described, the education section is non-existent although they brag on the home page about their “Award Winning” education and the trading platform cannot be accessed even if they brag about “easy to use platforms and enhanced execution services” and call themselves the “future of CFD trading”. Really, if this is the future of trading, we are in big trouble.
So without further ado, let’s wrap it up: this broker doesn’t have any functional features, is not regulated and the owning company is an affiliate and lead generation firm. In its current form, xttCapital is not even a broker but something else that I don’t understand. So, should you open an account with xttCapital? No! Even if you would somehow manage to register, we wouldn’t recommend doing so. Who knows, maybe in the near future they change some stuff and become a functional broker but this is not the case in their current form.
The known addresses are Bakers Hall 7 Harp Lane London EC3R 6DP UNITED KINGDOM (Investoo’s address according to the FCA) and 30 Dukes Place, London, EC3A 7HX (according to the xttCapital website). The phone number is +44(0)203 9500 950 and the email is [email protected]
We couldn’t locate any complaints regarding this broker, maybe because nobody can open an account with them, so there’s nothing to complain about. Or maybe for other reasons, but either way, there are no complaints or comments at the time of writing.
xttCapital Regulatory Warnings And Announcements
There are no warnings against this broker at the time of writing but the British FCA made it clear that Investoo is no longer registered as an Appointed Representative of MET Facilities LLP. See announcement here.
Information about withdrawals at xttCapital is non-existent but considering that right now there’s no way to deposit or even open an account, I guess withdrawals don’t matter that much.
Having no information on just about anything is an extra. Not allowing people to register is an extra. Having an inaccessible trading platform is an extra. So, they have plenty of… extras.
xttCapital Overall Ratings
User Friendliness 9/20
The website is only available in English, the trading platform cannot be accessed and US traders are not accepted (but you could say that about all clients not just the ones from the US). They do show pictures of mobile trading platforms but that’s all: pictures.
Range Of Markets, Spreads And Leverage 10/20
According to the website, xttCapital offers CFDs on all 5 major asset classes: currencies, cryptocurrencies, commodities, stocks, and indices. However, the exact assets are not specified and the same goes for spreads and leverage. The platform is inaccessible so we couldn’t check for any of those features. They get some points here because we are willing to give them the benefit of the doubt.
Fees And Support 9/20
The fees are not specified anywhere on the website and the Terms And Conditions document is completely missing. This is definitely a deal breaker (among a few other “deal breakers”) because no one should open an account with a broker that doesn’t give clear information about the fees. In the FAQ section, they say that xttCapital doesn’t charge any commissions or fees but allow me to doubt that even if I don’t have hard evidence.
Live chat support is unavailable so the only alternatives are phone and email but using those methods means you will give them your details and Investoo Group is a lead generation company, so they really want your details. If you allow them to get your details, expect phone calls and don’t be surprised if you are contacted out of the blue (by them or other companies).
Deposits And Withdrawals 7/20
Just like anything else, the procedure for deposits and withdrawals is not explained anywhere. All we know is that the minimum deposit is 100 Pounds but we don’t know how long it takes or what the methods are.
xttCapital Extras 5/20
No regulation, no Terms, And Conditions, no information, no trading platform, no way to sign up! Some of these may be temporary issues but at the time of reviewing these are the facts. If things change in the future, we will amend the review.