Description
Corsa Capital is an online broker providing binary options trading on forex and stocks with 10+ contract types. This review explores the pros and cons of registering with Corsa Capital, including their welcome no deposit bonus, login process, and trading platforms.
Corsa Capital Company Review
Corsa Capital was founded in 2007 by a group of forex professionals. The binary options platform offers its clients straightforward trading propositions. Yet despite the fact 10,000 traders have signed up from multiple countries, the broker is not currently regulated.
Trading Platforms
Although there is a link to a MT5 support forum on the broker’s website, neither the MT4 or MT5 servers are available. Instead, clients have access to two proprietary platforms – the Corsa Web Platform and the desktop Corsa Client Cabinet.
Web Platform
The proprietary software is available directly from the broker’s website, requiring no download or installation. All 11 binary options orders can be placed in a user-friendly, intuitive way.
However, the charting capability is limited, with only lines, bars and candlesticks. Also, minimal analysis tools and indicators are available.
Corsa Client Cabinet
The desktop-based platform has greater functionality than the web-based trader. There are more account management options, including trading histories and payment options. You can also find the full range of order types and statistical analysis.
The platform can be downloaded from Corsa Capital’s website, though only for Windows computers.
Assets
Corsa Capital offers binary options on 10 forex pairs and stocks. The broker also has a randomly generated index that is open for trading on the weekends, called CRSIDX.
There are 11 straightforward binary option contract types, including intraday, expiry and tick options.
Trading Fees
Corsa Capital is a binary options broker, not a traditional forex broker. This means they do not charge spreads, commissions or overnight swaps. Even though the website has no mention of fees or charges, binary options brokers earn their money by taking a small portion of a contract’s pay-out and through unsuccessful contracts.
Mobile Apps
There is no Corsa Capital trading app. Fortunately, the web platform is accessible from a mobile browser, although it’s less user-friendly than the desktop interface.
Payment Methods
Deposits can be made using Visa and Mastercard payment cards or bank wire transfers. Card payments take up to 24 hours to be processed. The minimum deposit to open a Corsa Capital account is $1.
Withdrawals may be made using the above payment cards, as well as Qiwi wallet and Skrill. E-wallet transactions take up to 5 business days to appear.
Demo Account
Corsa Capital provides a demo account to help traders familiarise themselves with the broker, markets and strategies. These accounts risk none of your own capital, instead they are loaded with $10,000 of virtual money, with all the functions and features of a live account. Demo accounts are open for 30 days after registration.
Welcome Bonuses & Promotions
Corsa Capital offers its clients a $100 deposit welcome bonus. The bonus cannot be withdrawn, though it can be used to supplement your own capital when trading. Coupled with the $1 minimum deposit, this can make trading with Corsa Capital a small investment with large profit potential.
Regulation
Corsa Capital Ltd is not regulated or licensed with any financial services agency or gambling commission. Regulation is particularly important for binary options trading, as many brokers have been proven to be fraudulent or scams. Furthermore, many financial services agencies and countries have banned binary options, claiming it to be more akin to gambling. As a result, we’d recommend caution before registering for an account.
Additional Features
The broker provides clients with a fleshed-out education centre containing glossaries, beginner guides and video tutorials. There’s also an analytics stream with forex news information and financial analysis articles. In addition, the website hosts an economic calendar.
Accounts
Corsa Capital does not have multiple account types. Instead, they offer their full range of services, options contracts and educational resources to all clients. This is a shame, as multiple account tiers can benefit high-volume traders through additional support, discounts and features.
Benefits
Reasons to register for a trading account include:
- Education centre & financial analysis
- $100 welcome deposit bonus
- No spreads or commissions
- $1 minimum deposit
- 24/7 trading
Drawbacks
Downsides to Corsa Capital’s offering include:
- Limited trading platform capability
- Binary options investments only
- No transparent fee structure
- Unregulated
Trading Hours
Clients can trade 24/7 at the Corsa Capital corporation. Standard markets can be traded from 00:00 UTC Monday to 20:00 UTC Friday, though the CRSIDX index can be traded on over the weekend.
Customer Support
The Corsa Capital website is available in English and Russian. The broker also offers a call-back service whereby you leave your contact details and queries for them to get back to you. Live customer support is open daily from 07:00 to 16:00 UTC and can be contacted via:
- Live chat – centre right of the website
- Email – support@corsaforex.com
- Telephone – +7(919) 784-13-97
- Skype – corsaforex.com
- ICQ – 715359090
Trader Security
Corsa Capital uses industry-standard cybersecurity measures to protect its clients. All data traffic is encrypted using Single Sockets Layer (SSL) encryptions and the broker also uses firewalls, authentication systems and access control mechanisms.
Verdict
Corsa Capital offers a well-rounded binary options trading service, with multiple markets and contract types. There is 24/7 trading and a minimum deposit of just $1. However, binary options can be risky, and many options brokers have been found to be scams. As such, the lack of regulation for Corsa Capital indicates that it may not be the safest broker. Therefore, we would recommend considering other brokers reviewed on our website first.
Accepted Countries
Corsa Capital accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Corsa Capital from United States.
