Fincloud Capital is a forex and CFD broker that claims to offer a wide range of trading instruments, including currency pairs, indices, commodities, stocks, and cryptocurrencies. The broker also claims to provide competitive spreads, fast execution, and various account types to suit different trading styles and preferences. But is Fincloud Capital a reliable and trustworthy broker? In this review, we will examine the broker’s features, regulations, fees, and customer service to help you decide if you should trade with them or not.
Regulation and Security
One of the most important factors to consider when choosing a broker is their regulation and security. Regulation ensures that the broker follows certain rules and standards to protect the interests of their clients and provide a fair and transparent trading environment. Security means that the broker uses adequate measures to safeguard the funds and data of their clients from hackers and other malicious actors.
Unfortunately, Fincloud Capital does not seem to have any regulation or license from any reputable authority. The broker does not disclose any information about its legal entity, registration, or location on its website. The only contact details provided are a phone number and an email address. This raises serious doubts about the legitimacy and credibility of the broker. Moreover, the broker does not mention anything about the security of its website or platform, such as encryption, firewalls, or segregated accounts. This means that the clients’ funds and data may be exposed to various risks and dangers.
Trading Instruments and Platforms
Fincloud Capital claims to offer over 200 trading instruments across various asset classes, such as forex, indices, commodities, stocks, and cryptocurrencies. However, the broker does not provide any details or specifications about these instruments, such as the leverage, spreads, commissions, swap rates, or margin requirements. The broker also does not offer any demo accounts or educational resources to help its clients learn and practice trading.
The broker offers two types of trading platforms: MetaTrader 4 (MT4) and Fincloud WebTrader. MT4 is a popular and widely used platform that offers advanced charting tools, technical indicators, automated trading systems, and market news. Fincloud WebTrader is a web-based platform that does not require any download or installation. It has a simple and user-friendly interface that allows traders to access their accounts from any device with an internet connection. However, both platforms have some drawbacks and limitations. For example, MT4 does not support cryptocurrencies or stocks trading, while Fincloud WebTrader does not have any analytical tools or customization options.
Account Types and Fees
Fincloud Capital offers four types of account types: Basic, Silver, Gold, and Platinum. The minimum deposit required for each account type is $250, $2,000, $10,000, and $50,000 respectively. The broker claims that each account type has different features and benefits, such as lower spreads, higher leverage, free signals, personal account managers, and access to webinars and seminars. However, the broker does not provide any clear or concrete information about these features and benefits on its website. The broker also does not disclose any information about the fees or charges that it applies to its clients’ transactions, such as commissions, withdrawal fees, inactivity fees, or conversion fees.
Customer Service
Fincloud Capital claims to have a professional and dedicated customer service team that is available 24/5 via phone or email. However, the broker does not provide any live chat or social media channels for its clients to contact them. Moreover, the broker has received many negative reviews and complaints from its clients online. Some of the common issues reported by the clients include difficulty in withdrawing funds, poor communication, aggressive marketing tactics, false promises, and unauthorized charges.
Conclusion
Fincloud Capital is a forex and CFD broker that claims to offer a wide range of trading instruments and platforms. However, the broker lacks regulation and transparency in many aspects of its services. The broker does not provide any information about its legal entity, fees, trading conditions, or security measures. The broker also has a poor reputation among its clients online. Therefore, we do not recommend trading with Fincloud Capital as it may be a scam or a fraudulent broker.
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