Grand Capital

Grand Capital Broker Overview – Pros and Cons

Grand Capital is a New York-based broker focusing on advanced technology, using ECN to place orders in the currency market. Grand Capital prioritizes safety, with a separate cryptocurrency account and blockchain protection called Serenity. Customers can use Grand Capital’s proprietary platform as well as the MT4 and MT5 platforms. The downside of Grand Capital is the high fees for specific accounts and withdrawals.

Grand Capital is a broker which offers a diverse range of tradable products all from one account. It serves clients from around the world, except for US and Japanese residents.

Grand Capital is regulated by Finacom, an independent self-regulatory organization, and has been in operation since 2006. Users are able to choose from multiple accounts depending on capital availability and experience. There are options to trade forex, crypto, stocks, commodities, and indices.

The minimum deposit starts at $10. Considering opening an account with Grand Capital? Continue reading to understand the pros and cons of this broker, whether they are safe to deposit funds with, the trading fees, deposit and withdrawal methods, and much more.

Is Grand Capital Safe to Deposit and Trade With?

Grand Capital is regulated by the Financial Commission, and has been in operation since 2006. It is not regulated in any major jurisdictions. More thoroughly regulated brokers are often a better choice.

Finacom is a self-regulatory organization, meaning it gets money from the brokers who pay to join. While this may be better than no regulation at all, it is not the same level of assurance as being regulated by the appointed governing body of a country or jurisdiction.

Grand Capital also doesn’t specify whether they offer segregated funds, which is an important feature traders should seek out when researching brokers. A segregated account is when client funds are kept separate from Grand Capital’s own working capital.

In the event of a company default, segregated funds are safe in a trust account. If funds are not segregated, then it can be difficult to get the capital back since the broker is in default and likely lacks capital to pay back clients.

While Finacom does offer up to $20,000 in investor protection, this only applies if you win a judgment against the broker and the broker refuses to pay. It does not cover losses from trading or if the broker goes insolvent.

The company has been in operation since 2006, but has a low TrustPilot rating of 2.7 out of 5. There are other regulated brokers with similar features which may be a better choice, such as Exante or IG.com.

What are Grand Capital’s Trading Fees?

Grand Capital trading fees are different for every account they offer. Some fees are quite high.

The following table shows the minimum spread for various instruments based on the account type. Most accounts also have a commission charge for certain assets. The main fees to be aware of are:

• Commission of $4 to $10, per lot, on forex pairs on some accounts.
• Commission of $5 to $15 per contract on commodities and indices, which varies by account.
• Commission of 0.1% on the cost of a trade on all share and ETF transactions.
• Very high commissions, per lot or contract, on the Swap Free account.

There are also “swap” or rollover fees for holding positions overnight.

• There is a 10% to 18% (yearly) fee for holding stocks overnight, which is billed daily.
• There is a 12% to 15% (yearly) fee for holding indices overnight, billed daily.
• Crypto and commodity CFDs are charged a certain number of pips each day for holding overnight. Check current rates here.
• Forex rollover varies based on the interest rate in the underlying currencies of the pair.

Grand Capital Product Offerings

Grand Capital offers more than 400 tradable products in various asset classes, but this only applies to the MT5 trading account. With all other account types, there will be fewer instruments available.

Users can trade more than 50 forex pairs, including majors like the EUR/USD, GBP/USD, USD/CHF, USD/CAD, and USD/JPY. As for commodities, you’re able to trade oil, natural gas, gold, silver, and palladium. Trade popular stocks from the USD, Europe, Asia, and Russia.

For indices, you can trade global indices including the CAC 40 from France, the S&P 500 from the US and the FTSE 100 from the UK. Trade 13 indices in total.

Grand Capital also offers a wide range of cryptocurrencies. You can choose from 68 cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Tron versus several fiat currencies.

If trading crypto, it will be much cheaper to trade through an exchange like Binance.

Grand Capital Promotions and Bonuses

Grand Capital hosts different promotions at different times, and some promotions may differ by location or deposit amount.

Grand Capital is currently offering a 40% bonus on all deposits. The credit can only be claimed on the first deposit made into the account, as well as every six months assuming the deposit amount is at least 10% of the original deposit amount. The bonus funds are not immediately withdrawable. The bonus is released (and becomes your capital) in $3 increments for every one lot traded.

What is the Minimum Deposit and Withdrawal Amount at Grand Capital?

The minimum deposit amount is $10 for a micro account. All other accounts require at least $100, with the ECN Prime account requiring $500.

Below, you can see the Grand Capital minimum deposits based on account type:

Standard: $100

MT5: $100

Micro: $10

ECN Prime: $500

Crypto: $100

Swap Free: $100

Grand Capital doesn’t specify a minimum withdrawal amount, but they do charge commissions on several withdrawal methods. Expect to pay a 0.5% commission on most withdrawals.

There are no fees for depositing, except with Perfect Money (0.5%) and a flat fee for the Bank of Nigeria.

Note: You must withdraw with the same method you deposited; otherwise the withdrawal request will be denied.

Grand Capital Deposit and Withdrawal Methods

Grand Capital offers a number of deposit and withdrawal methods, including bank transfers, payment services, and cryptocurrency.

The graphic in the prior section shows all the ways you can deposit and withdraw from Grand Capital, as well as the typical processing times and fees. Here is a list of those methods.

Most withdrawals will be processed within a time frame ranging from 15 minutes to one day.

Grand Capital Account Types

Grand Capital offers six account types. Each has different trading conditions and different product offerings, so before opening an account consider which one is best for your trading style.

The six account types are:

• Standard: $100 minimum deposit
• MT5: $100 minimum deposit
• Micro: $10 minimum deposit
• ECN Prime: $500 minimum deposit
• Crypto: $100 minimum deposit
• Swap Free: $100 minimum deposit

All accounts can be opened in USD. Micro and Standard accounts can also be denominated in EUR, RUB, JPY, GBP as well as crypto and/or metals. Here is a breakdown of how the various accounts compare.

The main difference between the accounts is leverage, spreads, the trading instruments offered, and the commission costs. The crypto account offers 3:1 leverage, while all others offer 100:1 or higher. MT5, ECN prime, and crypto accounts have the lowest spreads, but there is a cost for each trade. Micro accounts have larger spreads, but there is no commission.

Grand Capital Trading Platforms and Apps

Grand Capital provides trading platforms for both desktop and mobile, as well as downloadable software and a trading platform you can access online.

Grand Capital offers MetaTrader 4, MetaTrader 5, and Grand Trade (its own software). These are all available via mobile and desktop versions. MT4 and MT5 are offered by most forex brokers in the world. Here are a few key differences between the platforms so you can decide which is right for you:

One of the main things to notice is that certain account types are only allowed with certain trading platforms. With the Grand Trade platform, you can trade on Standard and ECN Prime accounts.  With the MT5 platform, you can only trade the MT5 account.

With MT4, you can trade the Standard, ECN, Swap Free, and Micro accounts. Cryptocurrency trading is available on all platforms. MT5 is more suitable for algorithmic traders or traders who like to program their strategies. MT4 is suitable for a wider variety of trading styles.

All of Grand Capital’s platforms offer a wide range of functionality that will suit most traders’ needs. Forex Chief as another platform with its software trading platform.

Grand Capital Support and Education

Grand Capital provides 24/7 customer support as well as educational resources and real-time market analysis.

You can contact Grand Capital via:

• Email: [email protected]
• Chat: Click the chat button along the lower right of the screen when viewing the site.
• Phone: Grand Capital has multiple offices around the world. This link provides you with the offices and their phone numbers (select a country first).

With offices around the world, support is offered in many languages. In terms of educational resources, Grand Capital provides daily analysis of various markets.

Most of these analysis pieces are very brief, offering little in the way of education, but the articles do often outline a trading concept based on a brief description and price chart. However, make sure to test these ideas in a demo account before trading to see if the analysis is consistently reliable.

Grand Capital Investment Portfolios and Copy Trading

Grand Capital provides users with the option to invest in a customized portfolio of CFDs, or to copy the trades of other traders.

Copy trading is a way to copy the trades of other traders. Traders (including you) can make their trades public so their track record is visible to all. Then, others can copy their trades. Note that most traders who have their track record posted have a limited history. The longest track record at the time of writing was about 120 days.

While some traders may have good returns over short periods of time, there are no accounts currently available that have been able to consistently make money for a year or more. Copy cautiously. Traders are compensated by taking a percentage of profits from the traders who follow them.

Investment portfolios are another choice that Grand Capital offers. Users are able to select a basket of assets and invest in them all at once.

While this is touted by Grand Capital as a one- to six-month investment strategy, recall that you will be paying commissions and swap fees on these trades. That will significantly eat into profits the longer the trade is held. Once again, use this tool cautiously.