Offshore Broker Capital Street FX With Red Compliance Rating!

FinTelegram rating for offshore broker Capital Street FX
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Capital Street FX is an offshore broker operated via Capital Street Intermarkets Limited in Mauritius and UK-registered Minus Zero Technologies Limited. The broker is controlled by Indian nationals and has an office in Dubai. While clients seem to be happy and provide good reviews, Capital Street FX does not have authorization for its most important markets in North America or EEA. Consequently, we have assigned a red compliance rating.

Key Data

Trading nameCapital Street FX
ActivityMulti-asset broker
Social mediaLinkedIn
Legal entityCapital Street Intermarkets Limited (Mauritius)
Minus Zero Technologies Limited (UK)
JurisdictionsUK, Mauritius, India
AuthorizationFSC Mauritius with license no C112010690
Contact+1 (949) 391 1002
[email protected]
Leverageup to 1:1000 (FSC Mauritius)
Compliance ratingRed
Trustpilot rating4.4 stars with “Excellent” trust level
Payment optionsCredit/debit card, bank wire, e-wallets, crypto
Payment processorsAdvcash, Perfect Money, utrust
Virtual Pay
Mauritius Commercial Bank Ltd
Related individualsAkash Kaushal (LinkedIn)
Himanshu Sharma (LinkedIn)
Vijay Jaiswal (LinkedIn)

Short Narrative

Capital Street FX is an offshore broker operated via Capital Street Intermarkets Limited in Mauritius. The company is registered with the FSC Mauritius as an Investment Dealer. Technology and payment services are provided through UK-registered Minus Zero Technologies Limited. It is an Indian broker scheme also believed to have an office in Dubai.

Similarweb statistics for offshore broker Capital Street FX

In our last review on March 6, 2023, we registered as an EEA resident with the Capital Street FX without any problems. The EEA countries, Australia, and most other jurisdictions worldwide are included in the drop-down menu, suggesting that these are target markets.

According to Similarweb statistics, Capital Street FX‘s website received nearly 73% of its visitors from the U.S. in the last 28 days before March 6, 2023 where the broker does not have permission. Just under 15% of the visitors came from the EEA country Belgium, and another 2,68% from UK; jurisdictions in which the broker has no permission to offer its financial products.

Capital Markets FX maintains a bank account at Mauritius Commercial Bank
Capital Markets FX bank account at Mauritius Commercial Bank

As payment processors, we again found the usual suspects, such as Virtual Pay, Advcash, or Perfect Money, and the Mauritius Commercial Bank for bank transfers. Crypto deposits can also be processed via utrust.

Compliance Check

Capital Street FX does not have regulatory authorization for North America, Australia, or EEA.

Even before the KYC check with identity and address verification, we could have theoretically made unlimited crypto deposits, or via bank wire, to the Capital Street FX bank account maintained with Mauritius Commercial Bank Ltd. This approach of theoretically unlimited pre-KYC deposits violates the regulatory framework of the regulatory regimes in the EEA, the UK, and other jurisdictions.

By registering with the offshore mutation, EEA customers also have an account with a leverage of up to 1:1000. However, retail brokers in ESMA‘s regulatory regimes can only offer retail clients a maximum of 1:30 leverage. In this respect, Capital Street FX also violates the regulatory provisions.

We do not yet consider Capital Street FX to be a scam. The Trustpilot rating is reassuring with 4.4 stars and an “Excellent” Trust Level. We also did not discover any other significant customer complaints.

However, the retail broker operates in most regulatory regimes without permission. About 90% of the website visitors come from jurisdictions where the broker does not have a permit. In addition, its processes also violate regulatory requirements. In addition, clients are not entitled to investor compensation schemes or the assistance of Financial Ombudsman Services. As a result, we have assigned Capital Street FX a red compliance rating.

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