GWT Capital Review
The broker GWT Capital gives the impression of a cryptocurrency exchange in the beginning but in reality, it serves CFDs over crypto coins. The official webpage of it showcases branding of other crypto exchanges like CoinEX, Kraken and Binance. It fails to mention it’s basic service of CFDs on other assets. Also, GWT Capital claims that they are leading European online cryptocurrency trading broker. However, it is not the only problem it has the broker is unlicensed and anonymous. This GWT Capital review will furnish you all the needs information before start investing in it.
About GWT Capital:
As the official presentation indicate the broker has only one universal trading account and the minimum investment demanded in unknown. However, we can see leverage at 300:1 ratio. Making an unbiased and complete review is a hard task and we must include all the possible pros and cons of GWT Capital in this review. We are going to discuss the possible pros in the start. The leverage levels around 300:1 are quite fascinating and it can earn massive profits. However, high leverages are controversial and drain more money and hence outlawed in regulated markets like USA, EU, Canada, and Australia. The official website claims to cover CFDs over 2000 crypto coins. But there is another section that claims to offer trading on 200 different assets. Still, a number of different assets are inversely proportional to risk. It means more assets less trading risks.
Now we turn towards all the advantages GWT Capital has. The broker alleges that it has international offices in countries like London and Paris. However, we are unable to verify this allegation. The webpage of it is completely anonymous and lacks information about licence and regulations number, owner of the trademark and others. It also provides trading bonuses and they act as a Trojan Horse. From outside they look beneficial but their actual function is to bond traders with the broker with unacceptable terms and conditions. One of them is required high volume trading before eligible for withdrawals. Sadly, the broker further fails to mention about minimum deposits it accepts to start trading with it. Also, payment methods and a free demo account are lacking.
Is GWT Capital scam or legit?
The broker is incognito and not regulated. The trading conditions like spreads and initial minimum investment is not shared formally. The controversial and banned trading bonuses and leverages offered. No presence of demo account and payment options. All of this is sufficient to make it a potential scam cryptocurrency broker.