BossCapital is owned by Cheshire Capital Ltd., a company with a listed address at Cavell House Stannard Place, Crispins Road, Norwich, United Kingdom, NR3 1YE. The company is not regulated by a financial authority.
Is BossCapital A Scam?
BossCapital does not appear to be a scam, and surely doesn’t suck. Every new broker may be a scam (we actually assume it’s a scam at first, research is what we do to revoke this assumption) but it is how they carry themselves that tells the tale. This one has a very professional interface, is based on a top notch platform, offers great trading and gets good reviews. We are always contacting the brokers, especially the non-regulated ones, and the latest research turned out to be one of the best we did. I’ve seen genuine reviews of successful withdrawals, even on our very own forums, and that’s a great plus. Seems like US based traders can rest assure, BossCapital delivers.
Update July 2016: We are happy to see that major scam alerts have not surfaced. This is a great thing but probably US traders will be disappointed because Boss Capital doesn’t accept them as clients anymore.
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Editor’s Note – Why BossCapital doesn’t Suck in 50 words
BossCapital is based on the Tech Financials platform and has some of the most advanced binary trading around. The asset list is quite extensive and includes more than 2 dozen international stock indices as well as all the major currency pairs (yes Bitcoin too). Banking is available with MoneyBookers and there are attractive features for VIP account holders. One such feature is same day withdrawal for Gold level accounts and above. High Returns. Notice: BossCapital Stopped accepting US based Traders.
Why does BossCapital Suck in 50 Words?
Training. There’s simply not enough trading education for newbies, not to mention advanced traders. If a newbie joins BossCapital without prior knowledge of Binary Options, he/she will surely need our school for more education. So, make sure you go through our school before.
Should I Open an Account with BossCapital?
BossCapital is based on leading binary options platform Tech Financials and has a full array of assets and binary trading. The platform supports nearly 200 assets with global focus. All of the major currency pairs are represented, including Bitcoin. 28 international indices are also listed and include countries such as India and Dubai as well as US, EU and major Asian indices. Aside from the standard high/low binary trade, the platform also supports one touch/no touch and inside/outside boundary options. An added feature not found on many other platforms is above/below trading. This is a ladder style option in which the trader chooses if an option will finish above or below a target strike price. Expiry is decent on this platform, better than average but not the best I have seen. The most heavily traded assets will have several intraday and an end of day expiry as well as an end of week, end of month and end of next month. Short term options with expiry ranging from 60 to 300 seconds are also available.
Update July 2016: Technical analysis is provided by Trading Central. They are a leading investment research provider to financial market professionals and are considered among the very elite in the business, so it’s very important to know that Boss Capital traders will benefit from Trading Central’s knowledge.
Banking with this broker is pretty standard. Credit card, wire transfers and MoneyBookers are accepted. The minimum deposit is $200 with a $25 trade minimum, which makes it a decent choice for newbies. Note that the minimum for wire transfer deposits is $500. Withdrawals for standard accounts will take up to 14 days, the first each month will be free and after that, all withdrawals will cost $30 each. VIP accounts such as Gold and above will be eligible for same day withdrawals with accounts above Gold level receiving all withdrawals free. Bonuses are available and come on a sliding scale based on your account size. Standard Bronze level accounts can get up to 20% while Gold accounts can get up to 65%, and VIP up to 90%. Terms for withdrawing bonuses include minimums but you will need to discuss that with your account representative.
Update July 2016: Processing time for withdrawals is now 4 working days and additional 5 – 7 days must pass until the funds reach your account, so overall they have lowered the withdrawal time. Also, the account structure has changed a bit. Now they show Mini ($500), Starter ($1,000), Silver ($5,000), Gold ($10,000) and Platinum ($25,000). The bonus starts at 25% and can go as high as 100% for the Platinum account. You will still need to discuss terms of withdrawal with your account representative.
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Boss Capital Complaints
For being so new there is actually a lot on the internet about it. The broker seems to be well received and doesn’t even have too many complaints that I would classify as stemming from not reading the terms and conditions. Ofcourse, BOTS team will continue searching the web for BossCaptial complaints and comments. We’ll keep you updated!
Update July 2016: As promised, we’ve kept monitoring this brokerage and we are happy to say that we couldn’t find alarming issues. All brokers have their share or complaints and Boss Capital is no exception but this is somewhat normal.
Boss Capital Bonuses
Boss Capital offers bonuses and other special offers, and like the rest of the industry requires a trade volume minimum for each. Minimums vary according to your account size, bonus size and other offers so be sure to check with your rep before taking any. On an account basis the Bronze account can get up to 30% bonus while the Gold account is eligible for up to 65%. Accounts with balances above the Gold Level can get additional bonuses, up to 100%, along with additional considerations.
Boss Capital Withdrawals
Withdrawals are standard for the industry although I found the terms hard to read. All withdrawals require your written request and may take up to 7 days to process. Following acceptance of the request it will take up to 7 more days for the funds to transfer to your account. This is 2 standard weeks and average across all brokers. Gold level accounts are eligible for same day withdrawals and accounts over that get all withdrawals for free. Bronze, Silver and Gold accounts get one free per month with a $30 fee for each additional withdrawal. Their “Hassle Free Withdrawal Policy” lives up to its name so far.
Boss Capital Bonus
Boss Capital, as a Tech Financials based broker, offers some nice features you won’t find anywhere else. Except of course with other TF brokers. The first is the charting. Tech Financials revamped their platform in 2014 to include high quality charts that are user friendly and an actual tool traders can use. One click of a tab located in the trading platform will pull up a full size chart that can be viewed in bars or candlesticks and includes multiple time frames. On top of that the broker also has an early closure feature that allows you to close longer term options before they close. This feature is not available for short term 60 second trading.
User Friendliness 18/20
The platform and website are both very user friendly. The thing I found weird was that you, at least I, couldn’t get to the educational and support material from the trading platform. The website where you log in has tons of information and is about as good as I’ve seen. Once you log in the platform is totally focused on trading with no links to information like you would find at other brokers. This isn’t a game changer, just something I noticed. Other than that both the website and the platform are top notch and easy to use. 6 Different languages.
Assets and Expiry 18/20
This platform has a wide range of assets so any trader will be at home. Not only that, each asset class is well represented. There are also several types of options available, not just the standard call/put trading. Expiry is one area that really shines in my view though. This broker services the day trader with short term 60, 120 and 300 second trading but also the longer term day and day to trader like me. There are end of day, end of week, end of month and end of next month on most assets when trading calls and puts.
Commissions, Support and Effective Returns 19/20
There are of course no commissions when trading binary options and this broker is no different. Withdrawal using bank transfer will accompany a processing fee of $30. One withdrawal is free per month, others are charged. Minimum withdrawal is $100. Support is quick and attentive; I had a rep calling me just almost as soon as I signed up. Answers were clear and helped to clarify some questions I had. Returns are above average. Some options pay as low as 70-75% while others, especially the more heavily traded offerings, pay up to 85% or more.
Deposit, Payments and Bonuses 18/20
Depositing is usually easy but Boss Capital makes it a little easier. MoneyBookers is a valid deposit method and available without any hassle directly from your account. Payments are standard taking up to 14 days to complete but there is the added attraction of reaching Gold Account status for same day withdrawals. Bonuses are available and vary by account size and other promotions.
Broker Extra’s 17/20
There are a few perks of working with this broker, on top of the fact that it is a pretty decent broker to begin with. The platform itself is nice but the bonus is in the charting because you don’t have to use more than one platform to trade. The charts aren’t as complete as a full charting package but are real, usable and effective charts for short term and day traders. They also have a nice early out feature that allows longer term traders to lock in profits or reduce losses before option expiry.
BossCapital Overall Ratings = 90/100
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