Launched as a global brand in 2016, CAPEX has spent the last 5 years winning awards for trading excellence, most notably for it’s forex trading capabilities. CAPEX has partnered up with some of the most powerful entities.
CAPEX may very well be the most feature packed broker in Australia. More than just a CFD broker, CAPEX offers educational tools, a lucrative bonus structure, a free demo account, and more than 2,000 tradable instruments. But is CAPEX a scam? We at Wetten, are here to say no and prove it in our comprehensive guide and CAPEX review for Australia.
We did discover a bonus structure during our CAPEX review for Australia. A first deposit bonus of up to $5,000 is possible, with an additional bonus of up to 20% of the deposited amount. CAPEX also has a refer-a-friend scheme – not uncommon among cryptocurrency exchanges these days – and the scheme sees users gain up to a 10% bonus. You can also access rebates on spreads. We noted during our CAPEX review of potential rebates of up to 12.5%.
As you’d expect from any reputable CFD broker, like in our eToro review, CAPEX does put their customers through a basic Know Your Customer (KYC) procedure. Opening an account with CAPEX was incredibly easy. To begin, we simply inputted the most basic of details – name, number, email and were instantly grated access to the free demo account. A pop-up in the demo account requests that we complete the verification process in order to proceed with a real-money trading account. This only involved a few short steps and basic documents were required – a government ID and proof of address.
During our CAPEX review in Australia, we found navigating the platform to be very easy, but at times the content can be a touch overwhelming – unlike simpler exchanges like Coinbase Pro. We mean this is the best possible way – at times, we simply struggled to remember where a particular feature was located, just because there are so many.
The WebTrader is very simple to understand after a bit of training and we certainly recommend using the demo account first. A lot happens on the screen at one time, and it can be daunting at first. With a small bit of experience, it is actually very easy to locate specific markets, and the trading window is utterly straight-forward. For those new to charting tools, a bit of education is required as it isn’t entirely intuitive at first.
Thankfully, where the useability requires a learning curve, the educational tools more than make the difference to help novice traders.
When opening an account at CAPEX, you’ll be asked to choose from either a CFD account or a QuantX account. QuantX is a new product from CAPEX and is a new way to invest in high performing stocks and intelligently build your portfolio. There are more than 900 brands to invest in using the QuantX platform covering over a dozen sectors. Essentially, think of the QuantX platform as your personal investment assistant with custom analysis and signals.
QuantX is an exciting new platform, but the CFD account is what CAPEX is all about. There were no costs for opening an account during our CAPEX review in Australia and we found 5 unique levels of accounts: Basic, Essential, Original, Premium and Signature. The basic, Essential, and Original accounts do not have access to the advanced trading tools provided by Trading View but do get varying degrees of market research tools.
In terms of actual trading, the accounts don’t differ too much, and you won’t lose out just by having a lower-tier account. The most notable difference as you rise up through the account levels is your access to more advanced research tools and the ability to hold multiple accounts – essentially, if you are a general retail trader or a beginner, you don’t need to aim for one of the top 2 or 3 account types.
Finally, CAPEX also offers swamp-free Islamic accounts that can be requested by Muslim clients. Another added bonus of this broker is the free demo account too – and it’s even better than the Kraken Futures demo account.
During our Capex Australia review, we tested both trading platforms. CAPEX features its own in-house WebTrader – the platform most investors will be using – and the well-known MetaTrader 5. The WebTrader is available on your web browser, as a desktop app on both Windows and Mac, and is also available via a dedicated mobile app for iOS and Android devices.
Using the WebTrader platform, traders can access the Trading Central tool which allows investors from Australia to view recommendations and analysis information from financial experts. Depending on your account level, the WebTrader also features TipRanks – a market intelligence tool that boasts market analyses from a variety of sources.
MetaTrader 5 may very well be the most well known and trusted online trading platform in the world. We’ve reviewed MetaTrader platforms extensively as many operators leverage the technology such as in our Eightcap review. MetaTrader 5 isn’t available on your web browser but is available on mobile devices and your desktop. The platform is known for its advanced charting capabilities and in-built analysis tools.
MetaTrader 5 features more than 2,000 custom indicators, 9 timeframes, and instant executions. Our CAPEX review in Australia notes that MetaTrader 5 is a must for the more serious or professional trader.
During our CAPEX review in Australia, we found several payment options available. You can fund your account through a credit or debit card, wire transfer, e-Wallets including Skrill and NETELLER, Paysafecard, and Neosurf. Some of these will probably be unfamiliar to Australian traders and most will use card payments. We found the deposit minimum to be set at $100 during our CAPEX review and deposit speeds were very fast.
Our credit card transactions were processed immediately and when we tested CAPEX using NETELLER our deposit was instant, but the withdrawal took up to 24 hours. Wire transfers, however, took around 3 – 5 business days to be completed. One drawback of CAPEX is that the Australian Dollar is not an accepted base currency and sometimes a 0.50% conversion fee may apply.
Fees – CAPEX fee structure
First of all, it costs nothing to open an account during our CAPEX review in Australia. The minimum deposit was $100, and we saw no fees for making a deposit in Australia. The trading fees at CAPEX vary between the different instruments on offer and CAPEX offers more than 2,000. Most forex trades have fixed variables that can be as low as 7 AUD and swap fees apply for overnight holds. Stocks have variable spreads, as do cryptocurrencies, bonds, and ETF’s.
The fees are generally quite low, and users pay zero commission as the broker makes their money from the spreads. We also noted fees for making withdrawals using any of the accepted payment methods. We did note an account in-activity fee during our CAPEX review of around $15 a month should an account be inactive for 12 months or longer.
While we conducted our thorough CAPEX review for Australia, we checked the means of customer support also. The first channel that becomes immediately apparent is a Chat button at the base of the homepage. Clicking on it opens a Chat Box where traders can use a Chat Bot to discover new information about the website and how to navigate it. The Chat Bot is handy but doesn’t function much more than pointing you in the right direction.
There are no phone lines for Australian residents to seek support, but there is an email line offered by the Chat Bot and from within the WebTrader platform. Emails can be sent to firstname.lastname@example.org. We were detailed in our queries and found the responses from support agents to be very relevant. It took on average around 48 hours to receive a response. We noted far better support at brokers such as AxiTrader Australia.
Like many big global brokers and exchanges that start offering services in Australia, CAPEX is not registered or regulated by any authorities in Australia. Typically, this would be a major red flag and cause for major concern. However, CAPEX has a significant reputation and is registered and regulated in many other countries. Australia has incredibly strict regulations in the financial sector, so it isn’t necessarily unusual to see this.
CAPEX is licenced by the Cyprus Securities and Exchange Commission and is registered in more than 20 different countries including Denmark, Germany, Malta, and France. During our CAPEX review, we confirmed that CAPEX holds client funds in segregated accounts from the companies own corporate funds – meaning if the company loses its money, you’ll keep all of yours. Negative balance protection exists for all jurisdictions, and CAPEX maintains an exemplary record. We have found no previous CAPEX scam history and the company has an excellent reputation, especially in Europe.
Australian clients won’t benefit from the investor compensation scheme that CAPEX European clients enjoy, and complaints can be taken up with the FAIS Ombudsman. Reputation is an excellent indicator of a safe broker and CAPEX has partnerships with very iconic entities such as its proud sponsorship of Juventus F.C.
CAPEX leverages the latest in security protocols and the MetaTrader 5 is known for its 128-bit data encryption and server authentication processes. The additional trading tools at CAPEX are truly outstanding and act as one of the biggest advantages of trading at this broker. During our CAPEX review we ran through them extensively and we’re impressed by the sheer amount of educational and analysis content available to traders. The first of these amazing tools can be seen in the Integrated Tools section. You can access features such as:
- Blogger’s Opinion – unique insights from more than 50,000 experts on market sentiment and trading strategy.
- Insider’s Hot Stocks – An overview of the most traded stocks being either bought or sold by using the TipRanks feature at CAPEX.
- Hedge Funds Activity – a tool that shows what the leading hedge fund managers are currently trading.
In the CAPEX Academy, investors can access a plethora of trading videos and written lessons. The range of content covered by CAPEX is incredibly vast and could very easily be used as a full educational training platform. The best educational tool at your disposal at CAPEX is the free demo account. Available upon sign up and before you ever verify your account, the free demo account lets you trade with $50,000 in virtual currency. The demo
Our CAPEX review in Australia has revealed one of the most feature-packed brokers in the Australian market. Very few brokers have such a deep range of educational tools and trading analysis insights than at CAPEX. CAPEX features two trading platforms that cater to different levels of traders. A free demo account is a major advantage at this broker as it helps with the steep learning curve of trading so many of the 2,000+ instruments available at CAPEX.
CAPEX is a perfect broker for novice traders because of its deep educational content, many means to copy-trading tools, and a free demo account that allows traders to mimic using the same real-life WebTrader, before they risk their own money trading online in Australia.