Captrader Review – Flawless Background And Valuable Licenses
Captrader is a reputable Introducing Broker, partnered with Interactive Brokers LLC, one of the greatest names in the online brokerage industry. The company is oriented primarily towards the clients in German-speaking nations, but is available globally.
There are many different benefits when trading through this introducing broker. In our Captrader Review, we will try and examine all the pros and cons of this regulated firm.
|Is This Company Safe?||Yes, this broker is fully legit, and therefore – safe.|
|Have Warnings from:||N/A|
|Registered in:||Dusseldorf, Germany|
|Deposit Bonus:||Not available|
|Trading Assets:||Forex, Stock CFDs, ETFs, Bonds, Futures, Options|
|Free Demo Account:||Available – Paper Account|
|How to Withdraw from This Company?||You can trust this company to safely handle your withdrawals. If you’re still having issues, contact us.|
Captrader is a legally registered company in Dusseldorf, Germany. The company is authorized and supervised by German BaFIN. Although this firm is an Introducing Broker, it doesn’t, however, relieve them of the regulation responsibility.
All the technical aspects of trading through Captrader are handled by their main provider – Interactive Brokers LLC. Interactive Brokers LLC are a well-established and fully regulated brokerage with an excellent reputation.
To be precise, being the introducing broker to the Interactive Brokers Irish entity – IBIE, makes Captrader also fall under the regulations of the Central Bank of Ireland, which oversees the activities of IBIE.
IBKR operates in many jurisdictions and they’re bearing the biggest responsibility when it comes to the entire fund handling and trading process in this story. It is not the job of an introducing broker to execute orders, provide financial advice and hold the client funds, in this case – Captrader. That is on Interactive Brokers to conduct, and they do it flawlessly.
EEA Customers Prevail
At this point, Captrader has established a solid user base. Their clients may be mainly originating from EEA, but that doesn’t mean they’re few. It is simply so because it is easier for the broker to reach this audience. In particular, domestic traders seem most interested due to language facilitation. Majority of traders come from:
Captrader has an overall rating of 4.8/5 shown on their verified Trustpilot page. This is a good sign that the company is doing good and the traders’ needs are diligently tended to. Unregulated brokers like Forex48 should definitely look up to Captrader.
Take a look at some of the reviews:
“The customer support was very quick, professional and helpful. Thank you a lot! Additionally, the service of the platform is good, especially for people who are mainly saving and investing as it has low monthly fee.”
“I was trying to open an account for a financial institution and it took me very-very long to successfully open it. Despite this, I am very satisfied by the work of CapTrader client support team, specifically by the help of Ilana, who demonstrated high level of professional and client oriented approach. It was a pleasure being in correspondence with her:) All team members were always vary helpful and very attentive to our case.”
Trading Costs And Other Expenses
The average trading costs are usually described as average to low, in comparison to other service providers of their caliber. Values can depend on the concrete trading instrument – fees on stocks for example are quite affordable – starting from $2 or 1% of the trade value. Fees for German Futures are just $1. Spreads on EUR/USD start at just 0.2 pips.
Although some might argue that the existence of the maintenance fee is a major downside, we wouldn’t agree. Captrader only charges an inactivity fee if your portfolio is lower than $1,000 and no trades were executed in a month. The fee is just $1, which is neglectable, especially compared to brokers that charge the dormancy fee of up to $100.
General offer that Captrader promotes includes a comprehensive platform available for all devices. Secondly, the broker has a rich offer of financial instruments available, all depending on every trader’s personal preference. You won’t see such detailed offers in unregulated brokers like 12Trader, for example.
The major flaw found with the offer is the fact that a Captrader account is opened after a series of steps and procedures, which beginner traders may find overly demanding. We also found the limited educational materials language-wise to be a bigger disadvantage.
Trading Platforms Available
The Trader Workstation (TWS) is the trading platform used at Captrader. It is characterized as reliable, efficient and comprehensive, as well as rich in features. It allows access to over 150 markets worldwide. Furthermore, it is available as a web terminal, desktop application and a proprietary mobile app.
Although the Captrader web trading station is quite easily used and fairly fast, it is known that professional traders expect more. The way to tend to their needs and expectations is by developing a more complex desktop platform.
The software is available for downloading for all existing users and it is recommended to more engaged and experienced traders.
Traders who struggle with time management due to professional obligations or private life can enjoy trading via Captrader mobile app. The application is just as fast and reliable, yet offers detailed market insight and up-to-date information necessary for efficiently opening and closing positions.
The single negative side to the entire offer is that some of the traders have reported the mobile app to be a bit complex for beginners to handle.
Available Trading Assets
An overall wide range of instruments is available to choose at Captrader. Not only does the broker include the most popular and standard asset groups, but almost every more exotic product class. The total number counts more than 1.4 million tradable securities:
- Stocks CFDs (Tesla, Facebook, Amazon, IMB, BMW, Nvidia, Netflix, Boeing)
- Options (CBOE, CME, MEXDER)
- Futures (stock futures, treasury bond futures, options futures)
- Forex (EUR/USD, USD/GBP, USD/JPY, EUR/CHF)
- ETFs (SPY, BKLC, SFY, BBUS)
- Bonds (United States Treasury issued bonds)
- Mutual Funds (Idx Funds, Highland Funds, HSBC Funds, IVA Funds)
First aspect we’d like to address is that the minimum deposit requirement at Captrader is 2000 USD or EUR. This is, by far, higher than the industry average.
The sole selection of account types at Captrader could either be described as thorough or complicated. Newbies could easily get lost in the verification process or just choosing which of the packages is most suitable for their needs.
For that reason, you have to be very precise about what you wish, which is, on the other hand, quite a specific offer, and allows you to start exactly the way you imagined trading to be. The main account types are:
Demo (Paper Trading) Account
Knowing how important it is for newcomers to learn and explore the complete Captrader offer, the broker makes the Demo account an option. Upon joining, you can choose to open a trial account instead of live. Also called Paper Trading Account, it allows investors to practice risk-free trades using $1,000,000 of virtual funds.
Captrader active clients can access several types of sources for knowledge and additional trading facilitation measures:
- Trading Signals
Beginners can find these resources especially useful, as they provide in-depth guidance to all of the trading aspects, and the elements you have to face along the way to success. The only fault we could find in the offer is that not all of the learning materials are available in other languages except German.
We’ve already witnessed how thorough and demanding the broker can be when it comes to KYC and AML measures. This is essential to making the funding process as safe as it can be. Regulatory standards imposed on the broker make it mandatory to go through the full procedure and ensure the transactions are secured and uncompromised.
Unfortunately, we found that the broker doesn’t accept Credit Cards and E-wallets for money transfers. Bank transfer is the only available way to perform transactions. Currency conversion fees apply, while each client has one free withdrawal monthly. After that $1 is charged for SEPA transfers and $8 for other withdrawals.
Reaching out to the broker is quite easy. There’s several transparent and very responsive channels you can use:
- Live chat
Additionally, the broker has a chatbot from within the mobile app, which is capable of handling simple requests and understanding basic inputs. Unfortunately, the customer support services aren’t available 24/7 and to use the majority of them, you have to first become a client to gain relevancy.
Captrader is a heavily regulated introducing broker for IBIE. Their background and history seems to be that of a reputable company that is focused on client satisfaction, based on high business ethics.
However, if you happen to be facing difficulties withdrawing cash from this company, we’re here to help. Our legal team works tirelessly to help every trader in distress and provide them with the legal aid they require. Getting your money back is possible, so reach out today.
How Do I Withdraw From Captrader?
Captrader requires documentation uploading and a through KYC and AML process. You have to complete it entirely to be able to withdraw funds. If you still face difficulties, call us for help.
What Is The Minimum Deposit For Captrader?
Minimum amount of real cash you have to spend with Captrader is 2000 EUR or USD.
What Are Available Captrader Platforms?
Trading Workstation is the trading software available for trading at Captrader.