Miles Capital Review — The Milescap.Com Questionable Broker!!!

Miles Capital review disclaimer: My opinions in this review are based on my independent analysis and research. Though I strive to offer accurate information, I cannot guarantee the reliability of this information. I just want to share my own personal views about it. Do your research before making an investment decision.

Miles Capital claims to be a brokerage firm founded in 2023 and registered in Mauritius. Furthermore, the company asserts that it offers a variety of tradable assets, including:

• Forex
• Cryptocurrencies
• Indices
• Commodities
• Bonds
• Shares
• Metals

Additionally, the broker claims to operate on the MT5 trading platform and to provide four account types along with a demo account as follows:

• The Classic Account.(50USD minimum deposit)
• The Executive Account.(1000 USD minimum deposit)
• The Premium Access Account.(10,000 USD minimum deposit)
• An Islamic account for swap-free trading purportedly whereby traders do not pay an interest for holding an overnight position. No information about the minimum deposit required for this specific account type. 

But the big question is: Is Miles Capital Limited a good broker?

The short answer is no. 

Why?

Read this honest Miles Capital review to discover why this broker is highly questionable and risky to trade through:

1. Mile Capital’s LinkedIn Profile Raises Doubts 

Miles Capital Limited has a LinkedIn page reachable through the following URL: https://www.linkedin.com/company/milescapital/about/.

Under the company’s overview, the company refers to itself as “Investis”, as you can see in the screenshot below:

Investis is a name that does not appear anywhere else, not even on the broker’s website.

It begs the following question: Is the broker operating under multiple identities to disguise its true operations. 

Also, the company openly admits that it engages in unethical trading practices. It states on LinkedIn that its trading platform allows for insider trading, as you can see in the screenshot below:

A fraudulent broker can exploit insider trading principles against its clients. By having privileged access to their clients’ trading activities and market data, they can gain an unfair advantage through many dubious ways, including but not limited to the following:

• Delaying trade execution to create unfavorable price discrepancies.
• Canceling or repricing the order if the market moves against them.
• Executing trades at worse prices for the client while profiting from the price differences.
• Acting as market makers and directly taking the opposite side of their clients’ trades.
• Manipulating prices, forcing clients to exit trades at a loss.

2. Miles Capital Limited Lacks Transparency

Evaluating this purported broker, I found many instances showing that they lack transparency:

For example, the first instance is where they do not specify the supported payment and withdrawal methods on milescap.com. The absence of this essential information is evidence that Miles Capital lacks clarity on financial transactions, an aspect of lack of transparency. 

The second instance is where there’s no specific information about the minimum deposit required for the Islamic account type. Again, the absence of this essential information leaves potential clients in the dark regarding how much the company would deduct from their bank accounts to open an Islamic account. 

Just to show you how lack of transparency is a serious concern when it comes to brokers, the following scam brokers have one thing in common: they lack of transparency: 

• CedarFX—Cedarfx.Com.
• Geosyn Mining, LLC— Geosynmining.Com
• London Partners LTD—londonpartnersltd.com.
• Ollyn Investment PTE LTD—ollyninvestmentlimited.com.
• Genesis Trade—genesistr.com.

3. Questionable Regulatory Information

Miles Capital claims to be regulated by the Financial Services Commission of Mauritius under the brand name “Miles Capital Limited”, company number “194281”, and license number “GB22201008.” 

Indeed this information is accurate and verifiable on the FSC Mauritius’s public register. However, in my opinion, just because a broker is licensed by the FSC isn’t sufficient guarantee that it’s credible, trustworthy, and reliable. 

I believe so because the FSC website displays a disclaimer, stating that it cannot guarantee the reliability of the information on its register.  

In other words, the commission indirectly admits that the mere fact that a broker is in its public register does not guarantee that the broker is reliable. 

What’s more, the fact that it’s not regulated by the Dubai Financial Services Authority(DFSA) yet it has an office in Dubai raises doubts about its credibility. 

Miles Capital Brazil

There’s is another firm in the financial services sector called Miles Capital. Based in Sao Paulo, Brasil, this entity specializes in asset management with a primary focus on the Brazilian equity market. 

The company’s web domain is: milescapital.com.br, and it was founded in 2017 by a group of individuals namely:

• Fabiano Custodio—the Chief Investment Officer (CIO) and Portfolio Manager.
• Ibrahim Hajjar—the CEO. 
• Hugo Meira—the head of the financial analysis sector. 
• Matheus Berloffa—an analyst at Miles Capital Brasil who specializes in the Utilities, Oil & Gas sectors.

You should not confuse Miles Capital Brasil(milescapital.com.br) with the Miles Capital broker(milescap.com) that is supposedly registered in Mauritius and has an additional office in Dubai—Miles Capital UAE. 

Final Thoughts

Taking the various concerning aspects about Miles Capital I’ve elaborated above, it’s safe to say that this broker is questionable and risky to trade through. Not only do they hold a doubtable license, but they also engage in dishonest trading practices as confirmed on their LinkedIn page. Lack of transparency is also another serious concern about this purported broker. 

Therefore, we don’t recommend them, and advise potential investors to explore other alternatives to ensure the security of their investments.

Report a Scam Incident

Have you fallen victim to Miles Capital Ltd or another broker? If so, go to this page to report the incident and seek help. You may also send an email to scamread@scamreader.info.