BPS Capital Review: What We Know About BPS Capital
According to the website we found, BPS Capital is a Forex trading platform based offshore in the Marshall Islands. The broker promises competitive trading conditions and really high leverage, like most offshore providers.
BPS Capital uses a sophisticated and cunning facade to conceal the true intentions of the platform. There are many clues that point to the fraudulent nature of this broker and we plan to show them all in our BPS Capital Review.
|Regulated by:||Offshore Scam Broker|
|Is This Company Safe?||No|
|Have Warnings from:||N/A|
|Registered in:||Marshall Islands|
|Minimum Deposit:||50 USD|
|Trading Assets:||Forex, Indices, Commodities, Stocks, Cryptocurrencies|
|Free Demo Account:||Available|
|How to Withdraw from This Company?||Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds.|
Legal Info: Is BPSCapital Regulated?
BPS Capital claims to be the trading brand of Strayntrade Limited, a suspicious company with offices in the Marshall Islands and Hong Kong. However, if you look up this company, you won’t find anything, which begs the question of whether Strayntrade Limited even exists.
In any case, the legal background of BPS Capital is not transparent and it’s safe to say that this broker is unlicensed to provide Forex trading services, i.e. no financial regulator is overseeing this business. It makes the platform an obvious trap, just like Roldex Pro.
Trading with unregulated brokers is risky, which is why we recommend you invest your hard-earned funds elsewhere. Try finding a licensed provider.
Make sure your broker legally operates under the watchful eyes of top-tier financial market regulators such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc.
If BPS Capital stole your money, we can help you retrieve it!
Who Are BPS Capital’s Victims?
According to godaddy.com/whois, the bpscap.com website domain was created on September 20, 2019. Since then, the financial swindler has been primarily targeting traders who reside in the following countries:
- United Kingdom;
- United States;
It is obvious that the scam broker wants to infiltrate major financial hubs around the world. We will reiterate once more that offshore providers operate pretty much unsupervised, which gives them to freedom to run shady schemes.
BPS Capital is not compliant with broker requirements in force in these countries. For instance, the maximum leverage cap in the UK is 1:30 but BPS Capital offers up to 1:500. Why are regulations important in such an unpredictable environment? Read more about how recent global events shaped the Forex Trading Market.
Trader Reviews – Sharing Experiences
At the time of this writing, BPS Capital had only eight reviews on trustpilot.com and an average score of 3.3 (average). However, we noticed something odd – in the summer of 2021, the broker received a couple of positive reviews, around the same day.
And then one year later, two complaints from traders who claimed they had been scammed. On wikifx.com, BPS Capital also received some positive reviews on December 14, 2022, accompanied by two complaints, i.e. pieces of scam exposure.
Last but not least, several traders provided evidence of not being able to withdraw their funds from BPS Capital on the popular trading forum – forexpeacearmy.com. BPS Capital is indeed up to no good.
BPS Capital Trading Platform
BPS Capital offers MetaTrader 4, arguably the best platform in the industry. MT4 provides users with cutting-edge tools such as automated trading, advanced charting, lightning-fast order execution, a customizable interface, live market reports, etc.
This platform can be used to trade popular assets such as Forex currency pairs (i.g. EUR/USD, GBP/AUD, etc.), CFDs on stocks, indices and commodities (i.g. coffee, oil, S&P 500, NVIDIA, etc.), and cryptocurrencies (i.g. BTC, ETH, USDT, etc.).
Although MT4 is an amazing platform, you must not forget that BPS Capital is unregulated, implying that the trading software could easily be manipulated.
If you’re having issues with the BPS Capital platform, we can help you recover your funds.
BPS Capital Account Types
BPS Capital offers two live trading account types with varying trading conditions:
|Minimum Deposit||50 USD||1,000 USD|
|Spreads||Variable from 1.2 pips||Raw from 0.0 pips|
|Commissions||0 USD||7 USD per lot|
Leverage, Spreads and Commissions
The maximum leverage is 1:500, which, as we already mentioned, is pretty high and dangerous, especially if you’re a beginner. High leverage can amplify profits but also losses.
As for the spreads, BPS Capital offers pretty decent and competitive spreads, and the commissions the broker charges are also not out of line. Still, given BPS Capital’s unregulated status, you can surely expect issues.
BPS Capital Withdrawal Process
BPS Capital’s website lists multiple different payment methods for deposits and withdrawals:
- Credit/debit cards;
- Wire transfers;
The minimum deposit requirement is 50 USD and the minimum withdrawal is 10 USD. As for the withdrawal fees, BPS Capital does not charge any fees. Since some traders complained about not being able to withdraw funds, we will tell you a bit more about the chargeback procedure.
Funds deposited via MasterCard and VISA credit/debit cards can be refunded via a chargeback, which can be requested at the issuing bank within 540 days. Wire transfers can be reversed via a recall but this action can only work for transactions that are not yet complete.
Key Facts To Consider About BPS Capital
BPS Capital is an unlicensed scam broker from the Marshall Islands. The main targets of BPS Capital are traders from the UK, US, Singapore, Brazil, and Vietnam.
The platform is unregulated and non-transparent. Many traders had issues with BPS Capital, which is the main reason why we do not recommend this platform.
If you lost money to the BPS Capital scam, please book your free consultation with us and tell us more about your case. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process.
Book your consultation with us today and start the chargeback process.
What is BPS Capital?
BPS Capital is an offshore trading scam pretending to be a legit Forex MT4 broker.
Is BPS Capital A Scam Or Legit?
BPS Capital has scam written all over it. Just see what the traders said about it.
What Types Of Accounts Are Available In BPS Capital?
BPS Capital offers Standard and ECN live account types. If you’ve invested in these, we can help you undo your mistake.