Capital Street FXReviews 75

Dear Tim,

We would like to address your concerns and clarify the situation with the facts at hand:

You began trading with a total amount of $54,325, which included your deposit of $5,300 and $49,025 in bonus funds provided by us. Over a period of 15 days, you traded a total of 88 lots. On June 5th, 2024, your account wiped off completely, leaving a balance of $9.52. We would appreciate it if you could clarify the basis of your claim for additional funds.

It is important to note that the loss of funds in your account was a direct result of poor risk management on your part. None of the trades in your account had stop losses or take profits applied. At one point, your account balance reached nearly $61,000, which provided ample opportunity to secure profits. However, instead of closing your trades to lock in gains, you opted to open approximately 30 new lots, again without applying any risk management strategies. Consequently, your account was eventually wiped out. It is essential to understand that your trading decisions and style are solely your responsibility, not ours.

Additionally, your trading behaviour indicated an intent to take full advantage of the bonus funds without adhering to the associated obligations. We have consistently acted in good faith and honoured your requests. When your account experienced a significant draw-down, you requested to cancel the bonus and withdraw funds. Despite this being against our rules, we accommodated your request. You indicated that you would close your positions once they returned to profit and withdraw your funds, to which we also agreed. Throughout this process, we repeatedly cautioned you about the risks of keeping positions open without proper risk management. Unfortunately, these warnings were ignored, and instead of closing positions when they became profitable, you opened new trades.

Now, you are making unfounded allegations and attempting to demand money from us, despite the lack of funds in your account. Your actions, including sharing distorted and misleading information, are damaging our reputation unjustly.

We are more than happy to disclose all relevant details pertaining to this particular matter to provide full transparency to any interested party.

We hope this clarifies the matter and encourages a resolution based on facts and mutual respect.

Dear Tim,

We have thoroughly reviewed the concerns highlighted in your review and would like to address them comprehensively:

Firstly, it's important to clarify that commission and swap charges are standard across the industry. Capital Street offers some of the lowest swap rates available. Considering the leverage we provide, our swap charges are in line with or even lower than bank rates. Regarding commissions, your account category featured 0 spreads, which is unique. It typically has 0 or sometimes even negative spreads on most major instruments. For ECN and 0 spread accounts, commissions are applied at a nominal rate of 0.015%.

Secondly, all terms and conditions related to our promotions are clearly outlined on our website and accessible to anyone for review. These include detailed examples for clarity. Every trader is required to read and accept these terms from their dashboard before applying for the promotion and must confirm their acceptance in writing via email before the bonus is credited to their trading account.

Our support team communicated these terms and requirements, and you confirmed your understanding and acceptance of them before the bonus was credited to your account. Therefore, our processes and terms are transparent and well-documented.

It's also important to note that accepting the bonus is entirely optional. We provide high leverage and low spreads without the necessity of a bonus. Unlike other brokers, our bonus is fully tradable, offers a 100% draw-down, includes 1:1000 leverage on bonus funds, and can be used as the trader's equity.

We offer bonuses ranging from 150% to 900%, allowing traders to choose according to their trading style. With extended trading hours, including pre-market, after-hours, and weekend trading, it is feasible for traders to meet the volume requirements.

Upon reviewing your trading account statistics, we observed that you had traded only 88 lots in 15 days. Most of these trades were opened initially and held until the account was fully depleted. Initially, the basic duration available for you to complete the stipulated trading volume was 120 days. Upon receiving your email requesting additional help with fulfilling the requirements of this bonus while you were in severe draw-down and could only hold your positions using the bonus funds. We went out of our way and offered multiple options, including extending the duration by 4 weeks, making it 148 days instead of 120. This extension brings down the requirements of the promotion by nearly 35% by reducing the number of lots to be traded daily from 81.6 lots to 66 lots. Traders are never compelled to trade a specific number of lots. This decision is entirely dependent on the trader's independent discretion. Prior to accepting any bonus, a clear example of the required trading volume and timeframe is provided on our website and communicated in writing via email before the bonus is credited. Traders have the right to decline the bonus at any time.

We have never declined to assist you or any trader. Numerous emails were exchanged between you and our support team offering alternatives such as extending the bonus period, reducing the bonus amount, and changing the account type to remove commissions. In response to our suggestions, you informed us that you wanted to continue holding all the open positions in your account and would close them when they return to profit and decide what to do next. In reply, our team advised you that keeping positions open in hopes of the market going your way can be very high risk without proper risk management, which you should have addressed.

We observed that after receiving your email and while awaiting further instructions, your account had progressed beyond the initial level. However, during this time, despite your indication that positions would be closed in profit, you did not follow through with the necessary actions. Instead, You closed the trades in profit and reopened nearly 50 lots without applying any stop loss, resulting in a stop out being triggered and the entire account being wiped out completely (approx $9 are left in the account).

When these new positions were opened, your account had sufficient funds, which would have allowed us to cancel the bonus and allowed you to withdraw your initial deposit. Despite receiving sufficient options well within time, you chose to continue trading your way.

We feel sorry for your loss of funds. As a matter of fact, when you received the bonus, you expressed satisfaction and began trading enthusiastically. However, when your account experienced a significant draw-down, you started raising complaints despite previously acknowledging the terms and discussions we had.

We respectfully reiterate that the losses in your account resulted from your trading decisions and lack of risk management. It is deplorable that you are now unethically threatening our support team, stating you would use public media to share your version of events if we did not refund you $5300 of your deposited money. Regardless of whether funds are available in your account for a refund or not, you are pressuring us to compensate for losses incurred due to your own trading decisions.

Our support teams made every effort to inform you clearly and transparently about all the rights and responsibilities associated with the promotion. We remain vigilant, diligent, and fair in every aspect. Unfortunately, you have chosen to present distorted facts and tarnish our reputation and business by sharing your version of events.

Therefore, we will be happy to provide detailed information and proof related to this matter to anyone seeking a clearer understanding of this matter.