CapitalPanda Review: Could This Broker Scam You?

Main questions with any broker – is CapitalPanda regulated? Could you be scammed? How does it work? We’ve decided to answer all of your questions and much more in our updated CapitalPanda review.

• Regulation and Security
• Can I make money with CapitalPanda?
• Scammed by CapitalPanda?
• But what is a chargeback?

Regulation and Security

CapitalPanda is owned by BCM Begin Capital Markets Ltd, based in Limassol, Cyprus. The broker was established in 2015 and regulated by CySEC. The same company owns two other brands ProfitLevel and Begin Capital Markets. The former name of the company owner is OX Capital Markets Ltd.

When it comes to security, all we can see is that the company follows the MiFID directive and ESMA rules. However, we cannot find exactly where the funds are held.

Can I make money with CapitalPanda?

CapitalPanda is a broker regulated by CySEC. This means that there is someone behind the broker to control its actions.

The broker is offering MT5 trader. Usually, all the brokers provide MT4 along with MT5 due to more features and a higher level of security. Also, the broker does not offer crypto trading, which some clients might find as a restriction.

The minimum deposit with the broker is $100 and can be made only via wire transfer. This is rather odd since all the other brokers allow more secure and faster methods, either PayPal or Skrill. However, there is an option to make a deposit using a debit/credit card, but in this case, the minimum is $250. When it comes to withdrawals, the situation is even worse. Only one option is available, and that is bank wire. The minimum amount for withdrawal is $250. There is no mention of any fees or charges. Also, the time necessary for withdrawal is not specified anywhere, so you cannot know how long it is too long to wait.

The spread of the broker is also not very competitive since it starts from 3 pips. You can choose brokers that give even 0 spread or as low as 0.1 pips.

The conclusion is that you might be able to make a profit, but it’s not sure that you will be able to withdraw it.

Scammed by CapitalPanda?

If you were scammed by a CapitalPanda broker, there is a solution. If you cannot withdraw your funds or are experiencing any other issues, you need to file a dispute and request a chargeback. 

But what is a chargeback?

It’s a way to refund your card in case you were a victim of an online scam. Contact our support immediately so they can guide you through the procedure of getting your money back!