Score
United Kingdom
|
5-10 years
| https://elitexcapitals.com/
Website
Rating Index
LicensesLicensed Entity：INTERNATIONAL CAPITAL MARKETS PTY. LTD.
License No. 335692
United Kingdom
elitexcapitals.com United Kingdom| Elite CapitalsReview Summary | |
| Founded | 2019-07-19 |
| Registered Country/Region | United Kingdom |
| Regulation | Suspicious clone by Australia |
| Market Instruments | Forex currency pairs, commodities, indices, cryptocurrencies |
| Demo Account | Yes |
| Leverage | 1:500 |
| Spread | 0.1 pips |
| Trading Platform | MetaTrader 4 (MT4) and potentially other platforms |
| Min Deposit | $100 |
Elite Capitals is based in the United Kingdom and was founded in 2019. This broker offers kinds of tradable assets, including Forex currency pairs, commodities, indices, cryptocurrencies through MT4 trading platform. It also offers different account types, such as Standard, Premium, and Islamic accounts, to accommodate various trading preferences.
| Pros | Cons |
| None | Suspected cloned regulations |
| Uncertainty of investor protection and fund safety |
Elite Capitals is a suspected fake clone. Elite Capitals claims to be regulated by the Australia ASIC with license number 335692. However, this regulation is suspected to be a clone or invalid. Traders should be cautious and consider alternatives when trading.
Elite Capitals offers kinds of trading assets to satisfy the different needs of different traders. In addition to Forex, Elite Capitals provides trading opportunities in commodities such as gold, silver, crude oil, and natural gas. Furthermore, Elite Capitals offers trading in cryptocurrencies, including popular digital assets such as Bitcoin, Ethereum, and Litecoin.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Crypto | ✔ |
| CFD | ❌ |
| Indexes | ✔ |
| Stock | ❌ |
| ETF | ❌ |
| Options | ❌ |
Elite Capitals offers three types of accounts including standard account, Islamic account and ECN account. In addition, all accounts support demo accounts. The leverage offered by Elite Capitals is 1:200-1:500. Only ECN accounts do not charge commission and spreads are as low as 0 pips.
| Feature | Standard | Islamic | ECN |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:200 |
| Spreads | Starting from 0.1 pips for EUR/USD | Starting from 0.1 pips for EUR/USD | Starts from 0.0 pips |
| Commissions | $0.02 per side | None | None |
| Minimum Deposit | $100 | $200 | $1,000 |
| Demo Account | Yes, unlimited demo account available | Yes, unlimited demo account available | Yes, unlimited demo account available |
| Trading Tools | MetaTrader 4 | MetaTrader 4 | MetaTrader 4 |
The maximum leverage provided by Elite Capitals varies depending on the trading instrument and account type. The maximum leverage offered by Elite Capitals is up to 1:500.
This means traders can control positions in the market up to 500 times the amount of their trading capital.
In a standard account, traders can benefit from spreads of major currency pairs such as EUR/USD as low as 0.1 pips as well as Islamic account. In addition, in the ECN account, the spread of major currency pairs such as EUR/USD starts at 0.0 pips.
| Trading Platform | Supported | Available Devices | Suitable for what investor |
| MetaTrader 4 | ✔ | Windows, MAC, IOS, and Android | Investors of all experience levels |
| MetaTrader 5 | ❌ | ||
| Web Trader | ❌ |
Elite Capitals does not charge commissions on the standard, Islamic, or ECN accounts, which is a key advantage for traders who want to avoid extra costs. The spreads are relatively low, with the standard and Islamic accounts offering spreads starting from 0.1 pips and the ECN account offering even tighter spreads, starting at 0.0 pips. However, traders should be mindful of the higher minimum deposit requirement for the ECN account, which is set at $1,000. While the low spreads and commission-free structure are attractive, the broker’s high deposit requirements might make it less accessible for new traders or those with limited capital. I would suggest reviewing the Turing login process to ensure you understand the full fee structure before committing.
Elite Capitals likely supports a variety of traditional payment methods for both deposits and withdrawals, including credit/debit cards and bank transfers. The broker may also offer some e-wallet options, though specific details about these methods are not provided. It's essential to confirm the payment methods directly with Elite Capitals to understand what is available for your region. With a $100 minimum deposit requirement for the standard account, bank transfers and card payments are likely the most common methods. Before making a Turing login, ensure that your preferred payment method is available to avoid delays.
Withdrawal processing times can vary depending on the method chosen. Bank wire transfers can take longer, typically 3-5 business days, while credit/debit card withdrawals might be processed more quickly, within 1-3 business days. Elite Capitals does not specify exact times for each method, so it's best to check with the broker directly. Given the high minimum deposit for the ECN account, I would recommend ensuring that your withdrawal method is compatible with the amount being withdrawn. Also, ensure that your Turing login process is completed securely before initiating any withdrawal requests.
Elite Capitals does not charge deposit fees, which is a positive aspect for traders who want to avoid extra costs when funding their accounts. The broker accepts several payment methods, including credit/debit cards and bank transfers, and traders can deposit funds without worrying about additional fees. However, the high minimum deposit of $100 for the standard account and $1,000 for the ECN account might be a concern for traders with smaller capital. I personally appreciate the lack of deposit fees, but the higher deposit requirements may be a barrier for many traders, particularly those just starting out. Before making a Turing login, it’s important to understand the required deposit amount and its implications.
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