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Grand Capital Review

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Grand Capital is a fore broker that has been in operation since 2006. The company has received several titles, including Best Broker, Best Trading Technology, Best Affiliate Program, and more, which was enough to peak our interest. There’s a lot of ground to cover, including several different account types, various ongoing contests, and much more. Is this the perfect broker for you? Keep reading to find out everything you’ll need to know to make that decision.

Account Types

Grand Capital currently offers an amazing selection of account types. Six – yes, six different account types are offered, which is one of the largest selections we’ve ever seen before. For sake of simplicity, we listed all of the available account types below, along with some of the most interesting differences:

Standard: Widest range of trading instruments. Best choice for Forex trading.

  • Minimum Deposit: $100
  • Available Instruments: 330
  • Commission: FOREX: $0/CFD: $15/CFD STOCK USA: 0.1%

Crypto: Offers 18 cryptocurrency pairs.

  • Minimum Deposit: $100
  • Available Instruments: 18
  • Commission: 1.6%

ECN Prime: For experienced traders. Perfect for scalping and trading on news and using robots.

  • Minimum Deposit: $500
  • Available Instruments: 38
  • Commission: $5

Micro: Great for beginners.

  • Minimum Deposit: $10
  • Available Instruments: 66
  • Commission: $0

MT5: Small spreads and excellent execution.

  • Minimum Deposit: $100
  • Available Instruments: >300
  • Commission: $5

Swap Free: Designed exclusively for traders of Islamic faith.

  • Minimum Deposit: $100
  • Available Instruments: 330
  • Commission: CFD: $15/CFD STOCK USA: 0.1%

So, to sum it up, all of the accounts have small deposit minimums; except for the ECN prime account, which has a requirement of $500. Spreads, commissions, margin call/stop out levels, and pretty much everything else can differ significantly, but we have provided everything you need to know throughout this review.

Those of Islamic faith should be pleased, since they’ve been given the ability to open an account specifically for them, rather than making requests and hoping it’s offered like with other brokers. Hopefully, you may have an idea of which accounts you’re interested in by now, but we strongly suggest you stick with us to check out all of the other important information.

Platforms

Grand Capital features both the MT4 and MT5 platforms, both of which are excellent. We were also excited to see MT5 being offered, due to the fact that you can’t always find this option. So, which platform should you choose? There are a lot of similarities between the two. MT4, the original, is definitely the most popular, and for good reason. Many users prefer the original interface as well as the ability to manage several accounts at the same time. MT5 offers more graphical objects, time frames, pending order types, and technical indicators than its predecessor. It also offers embedded MQL5.community chat, the ability to transfer funds between accounts, an economic calendar, depth of market, and more, which you won’t find on MT4.

As mentioned earlier, there is a specific account type available exclusively for MT5. So, MT4 has a more preferred interface, but you may want to choose MT5 is you’d prefer to have access to more order types and tools. Accessibility shouldn’t be a problem, since both platforms are also widely accessible from several different devices, including PC and MacOS. For trading on the go, you can download the app from the Playmarket, or Appstore. Finally, if you’d prefer not to download the software, simply use WebTrader, the browser based version.

Leverage

The thing that makes Forex trading stand out is the ability to use leverage. If you don’t know, leverage allows you to trade with more funds than what you have available in your account, which provides an opportunity to make more profits. However, you should always choose your leverage carefully – higher amounts are risky, but can be rewarding. All brokers offer different leverages, and your leverage options here are going to depend on which account type you go with. The options are as follows:

  • Crypto: 1.3
  • ECN Prime & MT5: From 1:1 up to 1:100 (Floating)
  • Standard & Swap Free: From 1:1 up to 1:2000
  • Micro: From 1:1 up to 1:500

The most commonly chosen leverage is 1:100, but some like to go for a higher leverage. If you choose the ECN Prime or MT5 account, you’ll have an average option. Standard, Swap Free, and Micro accounts offer a better, more flexible option. The leverage for Crypto accounts is a smaller, fixed option. Also, we wanted to address the floating leverage on both ECN Prime and MT5 accounts. This means that maximum available leverage would actually depend on the total notional value of a position. You can check the specifics at the bottom of the ‘Account Types’ page.

Trade Sizes

Trade sizes for Cryptocurrency vary from 1.0 lot to 10000 lots. On the ECN Prime account, most of the contract sizes are listed at 10000, but smaller sizes are offered on indexes. Since there are so many different account types and assets, the best thing to do if you’d like more specific information on trade sizes is to visit https://grandcapital.net/trading/contract_specs/realCRY_us_me/. Next on the list would be the margin call and stop loss levels. Here’s an overview:

Margin Call & Stop Out Levels:

  • Crypto, ECN, and MT5: 100%/80%
  • Standard, Swap Free and Micro Accounts: 40%/100%

Once you meet the margin call level, you won’t be able to open any new trades. If you meet the stop loss level, then your trades will be liquidated. This policy is put into place by all Forex brokers to make sure that your account doesn’t go negative. To avoid this, log into your accounts often and keep an eye on your trades. If you reach the margin call level for your account, consider depositing more funds. Otherwise, you can close some trades.

Trading Costs

You will need to take spreads, commissions, and swap fees into account when opening an account with this broker. So, let’s talk about commissions in more detail. The good news is that if you’re trading from a Micro Account, you’re in luck, because you will be exempt from this charge. Forex trades on Standard accounts are also commission free. The bad news is that everyone else will need to take commissions into consideration. This is a standard charge by most brokers, since they have to profit somewhere to keep operating.

Take a look at the commission charges below:

Standard & Swap Free: FOREX: $0 (Only for Standard)/CFD: $15/CFD STOCK USA: 0.1%

MT5 & ECN Prime: $5

Crypto: 1.6%

If you’d like to avoid paying commissions, there are a few possible ways around it. First, you could open a Micro account if that option seems attractive to you. Otherwise, you can trade Forex on Standard accounts. Unfortunately, Grand Capital does charge swap fees as well, at $7 per lot, unless you have a Swap-Free account. If you often leave your positions open overnight, this will negatively affect you, so consider going for that account type. You’ll be able to find out more about spreads later, but note that the spreads are pretty reasonable.

Assets

Grand Capital allows you to trade with stocks, indices, commodities, currency pairs, and more. The amount of instruments that will be available to you will vary widely, depending on your account type. The smallest offering was for Crypto accounts, which only allows you to trade 18 cryptocurrency pairs. The ECN Prime and Micro accounts also had a smaller number to choose from, including 38 for ECN Prime and 66 for Micro. While these offerings are slim, the other accounts actually offer a much larger amount. Standard and Swap Free accounts will allow you to trade with 330 assets, which should be more than enough. With the MT5 account, more than 300 instruments are available. If you like trading a variety of different assets, then you’d definitely want to choose one of the accounts with more options, since there is such a large difference.

Spreads

Like many of the other categories we’ve spoken about, spreads vary based on the account type you’ve chosen. The best spread seems to be for the MT5 account, which is listed from 0.4 pips. In second place, Crypto and ECN Prime offer spreads from 0.4 point. Finally, the Standard, Swap Free, and Micro accounts offer spreads from 1 point. Have we seen better? Occasionally. Really, you should take your trading style into consideration when choosing your account type so that the spreads you’re working with won’t have that much of an effect on you.

Minimum Deposit

To recap from earlier, the minimum deposit for a Micro account is just $10 and the minimum for an ECN account is $500. For all of the other account types, the minimum is a reasonable $100. We felt satisfied with the ability to deposit a mere $10 and get trading, but we should mention that you won’t be able to do much with such a small deposit. However, you could certainly test out the deposit and withdrawal options and get started, so this would be a good option for a beginner. Moving on, we didn’t have much to say about the $100 deposit minimum for most of the accounts. This is average, but it provides more of an oppurtinity to make trades without immediately having to deposit more funds. Finally, some may feel that the $500 minimum for ECN accounts is large, but many may have noticed that other brokers can require deposits going up to $100,000 or more to operate their better accounts, so we were happy with even the largest deposit minimum.

Deposit Methods & Costs

Something we’d like to point out while we have your attention is that there’s a condition to funding for US clients – you can only deposit and withdraw using cryptocurrencies. So, if you are located in the US, disregard the bank transfer and bank card options. Otherwise, you’ll have access to deposit using bank transfer, bank cards, electronic payment systems, and local transfer agents. There’s also a lot to cover here, including different currencies, so we grouped the methods into sections.

Bank Transfer:

  • Options: Bank Windhoek (ZAR), bank transfer (currencies – EUR, USD), FNB Africa (ZAR), GTBank Nigeria (NGN, USD), and PayTrust (IDR,THB, MYR, VND)
  • Processing: All deposits are processed within 3 to 5 days, except for PayTrust, which is processed in 15 minutes.
  • Fees: Check with your bank since this can vary. However, the fee for GTBank Nigeria is listed at NGN 52.50

Bank Cards:

Visa & MasterCard (USD RUB). Processed in 15 minutes. No fees, thanks to Grand Capital.

Electronic Payment Systems:

  • Options: Bitcoin, Ecommpay, Ethereum, FasaPay, Neteller, PayOP, Payeer, Payza, Perfect Money, RBK Money, RP Card, Ripple, Skrill, Vload, Thunder X Pay, Tether, WebMoney, Yandex Money, advcash, help2pay, and iPay.
  • Processing: Most options are processed within 15 minutes. The exceptions would be Ethereum, Ripple, and Tether, which take a day.
  • Fees: 0%

Local Transfer Agents:

  • Options: ForexRebateChanger (Indonesia), Fxniaga (Indonesia), Grand Capital Myanmar, Grand Capital Philippines, Grand Capital Singapore, My Local Depositor (Malaysia), Nigerian Exchanger, and Sentraegold (Indonesia)
  • Processing: Most are processed within a day. ForexRebateChanger is processed between 10 minutes – 1 hour. Fxniaga takes between 15 minutes and one day. Sentraegold processes within 5 minutes.
  • Fees: 0%

So, the cryptocurrency rule for the US may seem like a big negative if you’ve never used them or prefer not to. Do keep in mind, however, that the popularity of these methods has been skyrocketing, so it won’t hurt to consider them. Thanks to Grand Capital, most methods listed above are fee free, except for bank wires. Processing time is also amazing, with all methods being processed within minutes or one day, except, once again, for bank wire. It’s rare to see this many funding methods available, especially with options that cater to clients in different countries. We really felt that Grand Capital did a good job here.

*Note that the accepted currencies for both the electronic payment systems and local transfer agents vary widely, so check the funding page for specifics.

Withdrawal Methods & Costs

All 30 deposit methods are also available for withdrawals. A few options are fee free, but most do have some type of varying fees. We grouped them into categories, so take a quick look at the fees for each method below:

Bank Transfer:

  • Bank Windhoek: 1%, but not less than 5 ZAR
  • Bank Transfer (Currencies): 100 EUR (USD/EUR) or 1%
  • FNB Africa: 1%, but not less than 5 NAD
  • GTBank Nigeria: 0%
  • PayTrust: Depends on the originating bank

Electronic Payment Systems:

  • Payza, Thunder X, iPay: 0%
  • Perfect Money: 0.5%
  • FasaPay, Skrill, WebMoney, Yandex.Money, help2pay: 1%
  • Payeer: 1.5%
  • Neteller: 2%, but not less than $1
  • Visa/MasterCard: 2% + 10 USD
  • Vload: 6%
  • Bitcoin, Ethereum, Ripple, and Tether: Determined by Blockchain.

For many traders, withdrawal fees can be the main factor to consider when choosing a method. A few fee free methods have been provided, which we like. Many of the other methods had very low fees as well, however, we felt that the fees charged for Visa/MasterCard and Vload were a bit high. We did notice that there are no fees if you withdraw via bank transfer with GTBank Africa, which is a rare offering for bank wire withdrawals.

Withdrawal Processing & Wait Time

When it comes to withdrawing funds, wait times can be a thorn in any trader’s side. Fortunately, the wait times for this broker are very reasonable, and most of the options process funds within one day. Others are even quicker. Wait times for all bank transfers are within 3 to 5 days, with the exception of PayTrust, which is available in up to 3 days. The majority of electronic payment systems are available within 3 days, with the exception of Payza, which is available within 15 minutes. Time frames for Local Transfer agents were more variable. Most took within 1 to 3 days. ForexRebateChanger takes between 10 minutes and 1 day, Fxniaga takes between 15 minutes and one day, and Sentraegold takes 2 to 3 hours.

Bonuses & Promotions

There’s a lot to cover here. We want to start with bonuses. First up is Day of Risk-Free Trading. Once a month, all clients who trade Binary options can receive compensation for one unsuccessful day of trading, so long as they have made a deposit at least once during that month. Also, you can earn commission for a friend’s trading if you refer them. Currently, there are four ongoing promotions. One is for real accounts; the other three are for demo accounts. We don’t want you to miss out on ANY of the contests, so we provided the basics for each contest below. Of course, if you’re serious about entering, make sure you check out the Contests page to view all of the specific rules and conditions.

We’ll start with the only competition for real accounts:

The Micro Trade contest: (Real)

Every last week of the month, ten winners trading on Real Micro accounts with a balance ranging from $50 to $200 will be selected. Winners will get a percentage of the difference in the account’s equity. 1st Place gets 300% and three more, smaller percentages will also be rewarded.

Now, on to the demo contests. We want to point out that you can win real money or large no-deposit bonuses if you win – for literally spending no money.

Drag Trade: (Demo)

This contest is held every Friday from 5pm until 6pm. There are ten winners and the main prize is a withdrawable $200. To compete, you must be trading from a demo account with an initial balance of $100,000 on either platform. The goal is to prove that you’re the best!

Rally Trade: (Demo)

This contest is held every two weeks from 3pm Thursday to 3pm Friday. Each contestant receives a demo account with an initial balance of $10,000. At the end, the trader with the highest profit will receive a $500 no-deposit bonus with fully withdrawable profit. 2nd thru 4th place will bring home deposit bonuses ranging from $125 to $200.

Futures Trade: (Demo)

This contest is held the first week of every month and is considered one of the most challenging. By the end of the week, the trader with the highest profit gets a $1,000 no deposit bonus with fully withdrawable profit. 2nd thru 4th place will win deposit bonuses ranging from $125 to $200.

We spent some extra time here to make sure that our readers are aware that all of these contests are available and ongoing. You really won’t find better opportunities elsewhere. If you’re not feeling that confident, remember that you’re risking no funds taking part in the demo contests and they occur frequently. This means more opportunity to practice and win!

Educational & Trading Tools

Perhaps the best educational tool, in our opinion, is the ability to practice from a demo account, which is available through Grand Capital. On the website, you can also view a glossary in the FAQ that provides brief but helpful definitions of popular terms. The definitions are easier to understand than they are when one tries to find them by searching the web.  A variety of tools are also built into the MT4 and MT5 platforms. We listed a few of these tools below, but you should know that these are only a few of many.

  • Strategy Tester
  • Embedded MQL5 community chat (MT5 only)
  • Economic Calendar (MT5 only)
  • 2D and 3D visualization of optimization
  • Expert Advisors

We will mention that more tools are available in MT5, so this would be the better option if you’re interested in having access to more tools. Either way, traders will have access to basically every tool they could need when trading, directly from their chosen platform.

Customer Service

To get in touch with customer service, you can use LiveChat, email, or phone. Grand Capital is also available on Facebook, Instagram, and Telegram. The direct phone number that has been provided is +1 646 844 7187. If you don’t want to make the call, you can click the phone icon at the top of the page to request a callback. Rather than having clients send all queries to one email address, Grand Capital will allow you to email the specific department related to your inquiry. Just to make sure you’re emailing the right department: Client Service is for product, promotion and contests, and organizational queries. The Technical Department is more for terminal and trading process type questions. Of course, Financials would be for those with questions about funding. Find the email addresses for each department and their hours below:

Phone: +1 646 844 7187

Email:

Demo Accounts

Demo accounts are one of the best learning tools available to traders. They allow you to create an account that mimics everything about a real account, so that you can trade with mock funds. When opening a demo through this broker, you’re able to choose between a Standard, MT5, or ECN account. Leverage options begin at 1:1 and go as high as 1:500. You can also type in any initial deposit amount that you’d like. This is where you can get creative. For example, try creating a demo with a low leverage and a deposit amount that is realistic, or choose the highest leverage available and give yourself a larger amount of funds.

Countries Accepted

All countries are accepted, but there is a condition for U.S. residents that we mentioned earlier, being that they will only be allowed to deposit and withdraw using cryptocurrency wallets. Some may not be too happy about that, but it’s nice to see that this broker is allowing U.S. traders in general, since it can be harder to find brokers that do. We were also happy to see that no other countries were excluded, as they are with so many other brokers. Everyone is welcome here.

Conclusion

We though some things about this broker were bittersweet. For example, US traders are allowed, which is a plus, but they can only fund with cryptocurrencies, which may or may not be a negative, depending on the trader’s preference. Next, some of the accounts offered a large number of instruments, but other accounts didn’t have as many to choose from. We also would’ve liked to see fewer fees, including more commission free options and lower fees on Visa/MasterCard withdrawals.  However, everyone should be happy with all of the available funding methods, along with the great processing times and low fees associated with the majority of them.

The six different account types make it possible to find an account that feels as if it was tailor made for you personally. Another plus was the availability of both the MT4 and MT5 platforms, both of which are loaded with a variety of helpful tools. The leverage options and trade sizes were excellent, so long as you are using one of the better accounts. Finally, all countries are accepted, customer support was easy to get in touch with, and there were a variety of reoccurring contests and bonuses, which is always a plus. If you didn’t like the fees or number of assets available for your preferred account type, you may want to consider looking elsewhere. On the other hand, we think that most of our readers could really benefit from using this broker, so long as they choose the correct account type for their personal trading style.

 

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