Grand Capital Review 2020
Grand Capital is an offshore broker that offers over 330 instruments for trading on its proprietary WebTrader platform as well as the ever popular MT4 and MT5 trading platforms. LAMM, PAMM and market analysis are the available tools to assist its clients. Despite this, the lack of regulation is a red flag for our broker review team.
Grand Capital Review 2020, Pros & Cons
- Powerful & intuitive trading platforms
- Variety of deposit & withdrawal methods
- RAMM & LAMM investment options
- Multilingual customer support team
- Does not accept clients from the USA & Japan
- Regulation is lacking
- No training resources such as eBooks, video lessons & articles
- The market analysis provided is not very comprehensive
In this detailed Grand Capital review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Grand Capital is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Grand Capital.
Grand Capital Review: Summary
Grand Capital is an online broker with a clear mission of providing its clients with the best trading conditions to help them grow financially. The broker was founded in 2006 in Russia but today, it has offices in over 40 locations around the world. The broker offers over 330 instruments for trading on the MT4 and MT5 platforms as well as its own proprietary WebTrader Pro platform. The official website is available in 14 languages.
Currenex and Swissquote are listed as the liquidity providers for Grand Capital brokerage firm. Its pricing comes from the liquidity providers.
Over the years, Grand Capital has been honoured with industry awards multiple times. In 2014, the broker won ‘the Best Forex Broker’ in China. In 2014, Grand Capital also won the ‘Stability on the Forex market’ cup which given by ‘MasterForex-V’ Academy. The award was keenly contested by several brokers but Grand Capital won the cup after the voting by the academy administration and traders.
Grand Capital Review: Regulation
Grand Capital Ltd is registered in the St. Vincent and the Grenadines with the Reg. no: 24598 IBC 2018.
Grand Capital Ltd is also registered in Seychelles with the reg. no. 036046.
Grand Capital is a Category A member of the Financial Commission (FinaCom). This is a conflict resolution commission that resolves disputes between brokers and their clients. Each eligible client can get compensation from FinaCom up to a maximum of $20,000 for each case won. Grand Capital believes that its membership of the body serves as a form of insurance because its clients can approach the commission for settlement when they are aggrieved.
Grand Capital abides by its ‘Anti Money Laundering’ and ‘Know Your Customer’ policy (AML and KYC) policy which can be downloaded on the website. The broker forbids any client to use its services for the purpose of concealing illegally acquired funds. To check this, it has implemented some measures such as the proper identification of all clients using KYC procedures. This involves the uploading of digital copies of a client’s government issued identity card and a recent utility bill.
Grand Capital states that since 2018, its client funds are protected by SERENITY. This uses blockchain technology and smart contracts to protect clients’ funds by regulating broker-trader relationships. It is done within the smart contracts by freezing funds until any outstanding disputes are amicably resolved. Traders who wish to use SERENITY protection will have to transfer their funds through SERENITY. This way, SERENITY acts as escrow and conflict resolution technology that secures the clients’ funds against shady manipulations by any broker.
Grand Capital Review: Countries
Grand Capital does not accept clients who are residents of the United States and Japan. Some Grand Capital broker features and products mentioned within this Grand Capital review may not be available to traders from specific countries due to legal restrictions.
Grand Capital Review: Trading Platforms
This is a renowned trading software used by millions of forex traders all over the world. It is widely used because of its capabilities which include complex charting, speed, stability and extensibility. Grand Capital has 4 versions of the MT4 platform available:
- MT4 desktop application for Windows.
- MT4 desktop application for Mac OS.
- MT4 mobile app for android: Built for phones, tablet and phablets that run on Android OS. It can be downloaded from the Google Play store.
- MT4 mobile app for iOS: Built for iPhones and iPads. Available for download from the App Store.
The MT4 platform has a simple and intuitive interface irrespective of the version. Once a trader has created an MT4 account, it can be accessed from all versions of the platform.
Here are some of the features of the MT4:
- The fluctuating live quotes of all the tradable assets display on the platform.
- 3 charts styles namely; Bar, Candle and Line displays all the instruments’ charts in real time.
- The charts can be displayed on 9 timeframes beginning from 1 minute up to 1 month.
- To place orders, market orders or up to 4 pending orders are used.
- Live account balances, trading history and order status is always available.
- The inbuilt MQL4 language editor can be used to develop Expert Advisors (EAs), indicators and trading tools which can be installed as plugin apps to enhance the MT4.
- The ‘Auto Trading’ feature can be used to activate installed EAs; which automate forex and CFD trading.
- Price alert notifications can be sent via SMS, platform pop-ups or email.
This is a professional trading platform developed to succeed MT4. It was built to do everything that MT4 can do and even more. Just like MT4, it is versatile, powerful, fast and loaded with trading and analytical tools. But, unfortunately, MT4 and MT5 are not compatible and plugin apps developed for MT5 will not run on MT4. Grand Capital also provides the desktop versions of MT5 for Windows and for MAC OS. MT5 mobile apps are available as Android and iOS apps which can be downloaded from the respective app stores.
Here are some of the features of the MT5 platform:
- The customizable ‘Market Watch’ displays the live ‘bid’ and ‘ask’ prices of all the trading instruments.
- Level 2 depth of market (DOM) pricing.
- Incorporates the depth of market tool.
- It uses the Netting and hedging systems for orders accounting.
- Multiple orders including instant execution and up to 6 pending orders.
- The calendar ‘tab’ displays the ‘Economic Calendar’.
- Charting is available with 3 chart styles displayable over 21 timeframes.
- It has 38 technical indicators but it can be extended to thousands using plugin apps.
- Chart analysis is done with up to 44 inbuilt drawing tools.
This is a proprietary web trading platform from Grand Capital. It runs on the web browser and so requires no downloads or installations. It is compatible with all devices and all operating systems. The application interface is user friendly and has lots of tools for analysis and trading.
Here are its features:
- The Market watch window displays all the assets bid and ask price in real time. It is searchable and grouped in such a way that instruments can easily be found.
- Supports one-click trading.
- Charting package powered by TradingView.
- Up to 7 chart styles can be displayed on 9 timeframes.
- Order management include market orders and up to 4 pending orders.
- Over 75 technical indicators are built into the trading platform.
Grand Capital Review: Trading Tools
Lot Allocation Management Module (LAMM)
This is Grand Capital’s social trading service where investors automatically copy the trades of traders who have registered as managers. The broker provides a list of these LAMM managers. Clicking on a manager’s name brings up his profile where traders can view their history, profits, manager’s commission, number of investors, etc. The investor can then choose a manager based on these criteria. He can manage risks by setting a copy ratio and then monitor your account performance and choose managers at will. There are no guarantees of results when copying trades and you should understand the significant risks involved with trading online.
Grand Capital has created several portfolios made up of different assets with the aim of diversifying investments and distribution of risks. These portfolios are carefully built by Grand Capital’s experts after analysing the assets.
Risk Allocation Management Model (RAMM)
This is another social trading system in which investors automatically copy the trades of expert traders. The investor selects from a wide range of strategies from the ratings provided, sets the drawdown limit and activates his RAMM account. A minimum of $50 is required for a strategy and the investor is free to choose and follow hundreds of strategies from a single account. Any profits are shared weekly. Again, there are no guarantees on how these trading signals will perform.
This is an important fundamental analysis tool. It shows the dates, time, country and the importance ratings of economic events and their forecasted impacts on the financial markets. It also shows the past record as well as the actual impact when the event finally takes place. This tool is also embedded in the MT5 platform. Traders can customize the calendar based on dates, country and importance level.
This tool assists traders in estimating their potential profits for a trade before placing the trade. The calculator estimates the potential profits in cash and in points and the required margin when a trader has inputted his account type, base currency, leverage, price, etc.
The analytics section of Grand Capital’s website is updated every market day. The analysis covers selected currency pairs, stocks and metals. More articles are posted daily on the technical analysis of these instruments.
Grand Capital Review: Education
Grand Capital does not have a traders’ academy to assist new traders to improve their trading knowledge and skills. Most online brokerages will usually have some educational materials to help traders improve their trading knowledge and skills.
Grand Capital Review: Trading Instruments
The following instruments are available for trading online with this broker:
- 49 Forex Currency Pairs
- 7 Metals
- 3 Energies
- 10 Indices
- 153 US stocks, 51 stocks, 46 Asian stocks & 24 Russian stocks.
- 14 Cryptocurrencies
Grand Capital Review: Trading Accounts & Fees
Grand Capital offers multiple account types. Clients can choose an account type based on their trading capital, platform, choice of trading instruments, leverage and other preferences. Here are the account types:
This account is designed for new traders who are too inexperienced and unskilled to risk larger amounts. The minimum deposit is $10 and the spread starts from 1.0 pip. Up to 66 instruments are available for trading on a maximum leverage of 1:500.
This account is specially designed to trade up to 32 cryptocurrency pairs on the MT4 platform. The minimum deposit is $100 and the maximum leverage is 1:3. The account currency is USD and a commission of 0.5% is charged.
Swap Free Account
This Sharia compliant account is for Muslims who are not permitted by their faith to pay or receive overnight swap fees. The minimum deposit is $100, maximum leverage is 1:500 and the spread starts from 1.0 pip. Commissions are charged as follows; CFDs is $15, US stocks is 0.1%. Over 330 assets can be traded from this account and the account currency can only be USD.
This account is for traders who wish to enjoy trading over 300 instruments on the MT5 platform. The account currency is USD and the maximum leverage is 1:100. The spreads start from 0.4 pips and the minimum deposit is $100.
This is main account type that can trade all instruments available. The minimum deposit is $100, spread starts from 1 pip while leverage is up to 1:500. The commission on CFDs is $15 while 0.1% is charged on US stock. There are no commissions on forex. The platform available is either MT4 or WebTrader.
The minimum deposit is $500 and the spread starts from 0.4 pips. The commission is $5 and the maximum leverage is 1:100. The base currency is USD and only 38 currency pairs can be traded from this account.
VIP status is assigned to large volume frequent traders whose balance is at least $50,000 or €50,000. Benefits attached include a personal manager, exclusive VIP phone line and free training. Also all deposit and withdrawal fees are waived for VIP traders. They can also request for credits up to $10,000.
Demo accounts are available in Standard, ECN and MT5 account types. They are free and come with virtual funds so that you can practice your trading strategies on the different platforms provided.
As broker fees can vary and change, there may be additional fees that are not listed in this Grand Capital review. It is imperative to ensure that you check and understand all of the latest information before you open a Grand Capital broker account for online trading.
Grand Capital Review: Customer Service
The client service department of Grand Capital Ltd works from 9am to 9 pm from Monday to Friday while the technical department works 24/5. The support team can be reached via instant web chat, email and on phone. There is also a ‘Request Call back’ form which can be used to schedule a call from the support team at your convenience. On social media, Grand Capital is on Facebook, Twitter and Instagram.
Grand Capital Review: Deposit & Withdrawal
Grand Capital will not accept cash deposits from clients but will only accept transfers from accounts registered in the same trading account name. Here are the acceptable payment options:
- Bank transfers: Grand Capital does not charge any deposit fees but the client’s bank might charge some commission. It takes 3-5 days for the process to complete. Different banks and bank online payment solutions like help2pay are available.
- Local Transfer: This is available in some countries like Singapore, Indonesia, Philippines, etc. There are no deposit charges and the payments are processed within a few hours. Withdrawal charges depend on the bank involved.
- Debit/Credit cards: Visa and MasterCard are accepted for deposits and withdrawals. Card deposits are processed within 15 minutes while withdrawals take up to 3 working days. For every withdrawal, a commission of 2% +$10 is charged.
- Electronic payments: The options available are FasaPay, M-Pesa, Neteller, Ngan Luong, PayTrust, Payeer, Payza, Perfect Money, RPcard, VLoad, Thunder X, WebMoney, and advcash. There are no deposit fees and the payment is processed between 15 minutes and 24 hours depending on the method used. An average of 1-2.5% withdrawal commission is charged depending on the payment gateway used.
- Cryptocurrencies: The cryptos accepted are Bitcoin, Ethereum, Ripple and Tether. Deposits are free and are processed within 15 minutes to 24 hours. Withdrawals are completed within 3 days and the charges depend on the blockchain.
Grand Capital Review: Account Opening
To create a new account, go to the website and click on ‘Open an account’, just above the menu bar. Fill the form that displays and click on ‘Register’.
Alternatively, if you already have a Facebook or Google account, you can simply click on the icon to register by permitting Grand Capital to receive your profile info from Facebook or Google. Pass Captcha verification and your new account is created. The login details will be sent to your registered email. You can login to the clients’ area, download platform, make deposits and commence trading. You can also upload verification documents and create new trading accounts or demo accounts from the clients’ area.
Grand Capital Review: Conclusion
Grand Capital is an online broker that has been in operations for many years. They have won multiple awards for their trading services. The broker is committed to protecting clients’ investments, that’s why it has adopted the SERENITY protection system.
The choice of platforms is plausible as the MetaTrader platforms are well accepted platforms that are used by all types of traders. Grand Capital’s WebTrader pro is also commendable as it is a good addition with standard trading and analytical features.
Multiple account types give every trader the choice of picking exactly what you need. There are also multiple payment options catering for local and global clients. Investors are also welcome as they are given choices of managed portfolios, PAMM or LAMM.
However, one of the greatest drawbacks of Grand Capital is its regulation. FinaCom is not a regulatory agency that provides guidelines of operation for brokers. It is just a conflict resolution body and cannot be compared to respected regulators like FCA, CySEC and ASIC. Also there are no comprehensive analysis or trader educational resources.
Grand Capital seems to be a genuine broker with a focus on excellence but need to improve in certain areas in order to remain competitive with the best online brokers. The brand should get a reputable regulation, create a trader academy and improve its market news and analysis.
Before starting to trade on currency exchange markets, please make sure that you understand the risks connected with trading using leverage and that you have sufficient level of training.