Corsa Capital Transparent Review

Corsa Capital user-ratings: $1
5/10
5 of 10 points 1 reviews
  • Asset varierity - 6.5/10
    6.5/10
  • Trading platform - 6.5/10
    6.5/10
  • Support - 4/10
    4/10
  • Fees - 4/10
    4/10
  • Deposit/Withdrawal - 4/10
    4/10

Facts about the company:

 

  • Type: Forex and binary Broker 
  • Regulation: No regulation 
  • Minimum deposit: $1 
  • Demo account: Free
  • Markets: Forex,  Commodities, Shares, Indices, CFDs, ETFs, bonds, cryptocurrency 
5/10
Comments Rating 5/10 (1 review)

Pros

  • No spreads, no commissions, no swaps
  • $100 welcome bonus for every customer
  • Trading right on the website, no need to download the platform
  • Free education for beginners

Cons

  • No regulation 
  • Bank transfers take 3-5 days
  • Only Basic security standards
  • Dubious online broker 

Our experience at a glance

Corsa Capital specializes in the segment of Forex trading, but also offers the possibility to bet on binary options as well as binary stock options in addition to currency trading. Even the web presence is noticeable for its rather superficial information style, which emphasizes the huge opportunities of trading in this segment and especially with Corsa Capital Investments. Although many other platforms do not necessarily focus on the enormous risks of loss that are quite possible with these financial products, they do name them clearly and concisely. There is definitely a need to catch up here with the online broker. If the investor is already confronted on the first page with the statement that trading in binary options is one of the easiest ways to become active on the stock exchange and it is explained that in principle no prior knowledge is necessary, then such an information policy is more than negligent.

Screenshot of the Corsa Capital landing page

Even though these products can be traded with just a few clicks, in our experience it is still urgently necessary to understand how leveraged products like CFDs or in Forex work. And the use of capital without any strategic background knowledge in principle amounts to a pure game of chance. In addition to knowledge of at least the simple basics of financial market correlations, at least basic skills are required to be able to analyze charts technically. Basically, investors who want to try their hand at highly speculative derivatives trading are advised to first gain experience with a risk-free demo account in order to be able to correctly assess the opportunities and risks of this form of trading.

CompanyCorsa Capital Investments, Corp.
address
Registration number
Regulation / license:
Phone:+44 (20) 331-899-63, English / Russian
e-mail:clients@corsaforex.com
Live chat:via Skype, ICQ or Yahoo Messenger
Call back service:available, English / Russian

Beyond that Corsa Capital offers on its sides with further partly quite strange information, which obviously pursues above all the goal to present binary options and the Forex trade as the only attractive trading possibility. The statement that stock options can be bought for 25 USD, but stock packages start at 10,000 USD is not to be interpreted. It seems that those responsible for these sites have not yet heard about the possibility of buying fund shares or at least do not want to know. In addition, Corsa Capital is trying to explain to its clients that shares are now physically difficult to buy, while options, on the other hand, are available to everyone and around the clock, a statement that seems incomprehensible in view of the many opportunities to become active on the capital market. In our view, this dubious and basically wrong information policy puts the broker in a far from good light.

Furthermore, Corsa Capital does not make it easy for interested parties to obtain objective information about the range of tradable products. Apparently, the company first does everything it can to win over interested parties and persuade them to open their own trading account, in which the risk is played out and large bonuses are promised. This culminates in the statement that only Corsa Capital traders are able to reduce the risk unilaterally. A statement that fundamentally contradicts all previous laws on financial investments.

To get a full picture of Corsa Capital’s trading capabilities, you must first open your own account. This is a further disadvantage compared to other providers who also openly show their cards to investors not registered with them. In order to get an overview of the range of tradable products, external investors have to look at the price tables that appear on various sub-pages and on the main page of Corsa Capital. Afterward, the so-called Forex quotations are listed. While it is common for serious providers to clearly present the possible spreads that have to be planned for a trade, the investor looks for this information from the broker in vain.

A number of currency pairs such as Euro / US Dollar or British Pound / US Dollar are tradable with regard to the mentioned price tables. Other currency pairs are formed from the Swiss franc, the Japanese yen, and the Canadian dollar, although by no means all possible combinations are offered. In total there are about 20 different combinations to choose from. In addition, about 30 different Binary Options can be traded with equities as underlying. Again, at first glance, there is no information about spreads or other fees.

Bonus for new clients

Basically, our experience shows that bonus offers should always be evaluated carefully. Often they contain hidden or even obvious requests to revise the self-imposed budget for the deposited trading capital upwards. In our experience, investors should not be tempted by such incentives to overstretch their budget. Corsa Capital, on the other hand, offers a pure bonus, which, according to the information on the website, does not appear to be subject to any further conditions. When a real trading account is officially opened, Corsa Capital promises a $100 no deposit bonus, which cannot be withdrawn but can be used immediately for trading. In addition, the Forex broker promises its new clients that profits made are immediately payable. If this is true, this would be a very fair offer.

Deposit bonus:flat rate of $100
Bonus conditions:can be used to trade but not paid out – but winnings are payable
Validity:no time limit
Other bonuses:no

Deposit and withdrawal

Like all other providers, Corsa Capital has a keen interest in ensuring that clients trade with correspondingly high stakes and transfer corresponding amounts to their trading account. For this reason, all providers make it as easy as possible for their customers to deposit money quickly and easily. Corsa Capital offers a wide range of options for this. However, the internal settlement system in the area of the website CorsaCapital.de is pointed out conspicuously strongly, a site where the spontaneous search on the net is initially completely useless. This is a further indication of a business practice that does not seem very serious. For the deposit itself, the service “Bank wire” is suggested. In addition, e-gold and Webmoney are apparently also available, although a fee of 1.5 percent is announced here immediately. All in all, the information on deposit options makes a rather opaque impression. In addition, for debits from trading accounts, attention is drawn to the British provider Skrill, which, according to Corsa Capital, should be able to complete the transaction in a few hours, whereas bank transfers take several days. From a purely technical point of view, the way to the debit is presented in five steps, whereby the investor must authorize the transaction and specify the destination of the debit. Corsa Capital, on the other hand, does not seem to have a regulation according to which the payout is always made only to the source from which the deposit was made.

Safety and regulation

Particularly critical is the fact that investors or other interested parties are looking in vain for information on the safety of the investments and the responsibility of any regulatory authorities. This circumstance, too, is quite unique within the online brokerage industry and does not exactly contribute to the fact that the seriousness of the provider Corsa Capital is rated as particularly high. Basic security standards, such as a deposit protection fund and separate account management, which have long been standard with reputable providers, do not seem to exist here. At least there are no references in which such standards are referred to.

Investors should be more than astonished by this fact. The confidence of the investors is the most important capital for the providers so that CFD brokers are actually anxious to put responsible regulatory authorities as well as certification numbers in the foreground of their Internet presence. However, if such references are missing, this is not a good sign and rather points to rip-off and fraud.

Support and customer service

Corsa Capital naturally offers its own support. However, the offer seems rather manageable. In addition to a call-back function, there are a number of telephone numbers that investors can contact. Here, contact can be established between 08.00 am and 5.00 pm. However, our first attempts to make contact ended promptly in a holding pattern. In addition, contact can also be established via Skype. Corsa Capital has also put together some pages and information under the heading Training, but in our experience, these are hardly suitable to familiarise inexperienced investors with the sometimes complex interrelationships. You will search in vain for webinars and the offer of video tutorials is limited to topics like opening an account or a demo account. At least a demo account is offered. For this, the investor can register with his name and a valid email address.

Support available:7:00 am- 4:00 pm (UTC 00)
Telephone:+7 (919) 784-13-97
Adress:clients@corsaforex.com
Languages:1+

Usability of the website

One thing above all can be said about the user-friendliness of the website: what is the point of a clear design if the user is obviously being tricked by the information it contains. In addition, the linguistic design of the pages does not appear to be entirely consistent. Thus, you always end up with English-language content, some of which don’t quite match the category under which it was posted. All in all, the design is rather misleading.

Conclusion

This provider appears dubious, which is why we advise against using it!
In our experience, a provider whose information policy is aimed solely at downplaying the risks of trading and discrediting other forms of investment has already largely forfeited its claim to respectability. Unfortunately, the impression of little trust is also present in many other areas. Particularly critical is the fact that no reference is made to the usual security standards. Apparently, the broker does not have such facilities at all. Apart from a bonus, which is apparently not linked to any further conditions, really little speaks in favor of this provider according to our test. Also, the offer of further training is rather meager. All in all, Corsa Capital is therefore strongly discouraged.


Most asked questions:

Is Corsa Capital trustworthy?

We doubt the trustworthiness of this online broker. Corsa Capital is a nonregulated broker. Moreover, Corsa Capital downplays the risks of trading in its information policy. In addition, there is no information to find about security standards.

Is a trading bonus available?

Corsa Capital offers its clients a trading bonus of $100. However, the trading bonus can’t be paid out. Although it can’t be paid out, winnings that are made with the bonus can be transferred.

How long do deposits and withdrawals take?

Payment transferals can take up to 3 to 4 days when doing it via bank account. Also, withdrawals are processed within 5 days.

What analytics are offered to clients?

Clients can take a look at the economic calendar whenever they want. In addition, there are always up to date Forex news viewable. Moreover, Corsa Capital offers its clients educational features and services.

One Response

  1. Andre Witzel September 8, 2020

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