General Information
Seven Capitals, an international brokerage firm headquartered in Mauritius, offers a wide range of financial instruments. These include forex, indices, metals, energies, and cryptocurrencies. It currently lacks valid regulatory oversight, which raises concerns about its legitimacy and accountability.
Pros and Cons
Pros:
Multiple Account Types: Offers 4 account types and a demo account from Seven Capitals, allowing traders to choose the account that best suits their trading preferences, risk tolerance, and investment goals.
MT5 Trading Platform: Offers the MetaTrader 5 (MT5) trading platform, providing traders with advanced charting tools, technical indicators, and expert advisors, enhancing their trading experience and capabilities.
Floating Leverage: Seven Capitals provides traders with floating leverage, adjusting their leverage levels based on market conditions, giving them more flexibility in controlling their trading positions.
Zero Commissions: The presence of no commissions on trades helps reduce trading costs for clients, allowing them to keep a higher percentage of their profits.
Minimum Deposit Threshold: Seven Capitals' minimum deposit requirement is $100, making trading accessible to a wider range of investors, including those with smaller capital.
Cons:
No Regulation: The absence of regulation raises concerns about Seven Capitals' adherence to industry standards, client protection measures, and regulatory oversight. Without regulatory oversight, clients are exposed to increased risks such as potential fraudulent activities, lack of transparency, and inadequate investor protection mechanisms.
Limited Information on Payment Methods: Insufficient information on payment methods can cause inconvenience and uncertainty for traders, especially when it comes to depositing and withdrawing trading funds from their accounts.
Is Seven Capitals safe?
When considering the safety of a brokerage like Seven Capitals or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
Regulatory Status: Currently, the broker operates without any legitimate regulatory oversight, raising concerns about transparency and accountability.
User Feedback: To gain a deeper understanding of the broker, traders are advised to check reviews and feedback from existing clients. Insights and experiences shared by users on reputable websites and discussion platforms can be accessed.
Security Measures: Seven Capitals employs margin call and stop-loss mechanisms to protect clients' accounts. Margin calls alert clients when account equity falls below the required level, while stop losses automatically close positions to prevent further losses, ensuring account security.
Ultimately, choosing whether or not to trade with Seven Capitals is a personal decision. It is recommended that you carefully balance the risks and rewards before committing to any actual trading activities.
Market Instruments
Seven Capitals offers a diverse range of market instruments designed to meet the evolving needs of traders worldwide.
In the forex market, clients can trade various currency pairs, including major, minor, and forex pairs, providing flexibility and potential profit opportunities amidst currency fluctuations.
Index trading allows investors to speculate on the performance of major global indices, such as the S&P 500, FTSE 100, and Nikkei 225, providing exposure to broader market trends.
Metals trading encompasses precious metals like gold and silver, providing a hedge against market volatility and inflation.
Energy trading includes commodities like crude oil and natural gas, allowing traders to capitalize on energy market fluctuations driven by geopolitical events and supply and demand dynamics.
Finally, cryptocurrency trading enables investors to participate in the rapidly growing digital asset space, with the ability to trade popular cryptocurrencies such as Bitcoin, Ether, and Litecoin.
Account
TypesSeven Capitals offers a range of account types to suit different trading preferences and capital levels.
The demo account provides a risk-free environment for traders to practice and familiarize themselves with the platform.
In live trading, clients can opt for the Standard account, which requires a minimum deposit of $100 and offers currency options in USD, UAE Dirham, and GBP. The Variable Account requires a minimum deposit of $5000 and provides traders with variable spreads and similar currency options.
For more experienced traders, the Pro account requires a minimum deposit of $10,000 and offers enhanced features and benefits.
Finally, the ECN account is suitable for advanced traders with a minimum capital of $20,000, providing direct access to interbank liquidity and competitive spreads in USD currencies only.
How to open an account?
To open an account with Seven Capitals, you need to follow these steps:
Visit the Seven Capitals website, find it on the homepage and click on "Start Trading".
Fill in the required personal details.
Complete the security process for any purpose.
Once your account is approved, you can set your investment preferences and start trading.
LeverageSeven
Capitals offers leverage ranging from 1:25 to 1:500, providing traders with the opportunity to amplify their trading positions. While leverage can potentially increase profits, it also increases the risk of significant losses, especially if market conditions are unfavorable for the trader's position. Therefore, it is crucial that you fully understand the implications of using leverage before trading.
Implementing risk management techniques, such as setting stop-loss orders and adhering to appropriate position sizing, can help mitigate risks associated with leverage.
Spreads & Commissions
Each account type has its own spread ranges, catering to different trading preferences and strategies.
The Standard account features spreads starting from 1.4 pips, while the Floating Account offers spreads ranging from 1.2 pips to 1.8 pips, providing flexibility for traders.
For more advanced traders, the Pro account boasts tighter spreads starting from 0.8 pips, enhancing trading efficiency and reducing trading costs.
Additionally, the ECN account offers the lowest spreads starting from 0.2 pips, providing traders with direct access to interbank liquidity and competitive pricing.
Notably, the broker does not charge commissions, ensuring transparent pricing for traders.
Trading Platform
Seven Capitals provides traders with a diverse selection of trading platforms to cater to their different preferences and device compatibility.
The MetaTrader 5 platform, available for Windows, MacOS, iOS, and Android devices, offers advanced trading features and comprehensive charting tools for analyzing market trends and executing trades efficiently.
Additionally, traders can access the Seven Capitals app, which is available for both Android and Apple devices, providing a convenient interface and essential trading features.
On desktop or mobile devices, traders can seamlessly access their accounts, monitor market movements, and execute trades with ease using the broker's intuitive and feature-rich trading platform.
Customer Service
Seven Capitals offers comprehensive customer service through phone, email, physical address, WhatsApp, and contact us form. This multi-channel approach ensures that clients receive convenient and timely assistance with account management and transaction inquiries.
Phone: +230 214 3395
Email: contact@fx7capitals.com
Headquarters: 6th Floor, Ken Lee Building, 20 Edith Cavill Street, Port Louis, Mauritius 11302.
