MILES CAPITAL

Miles Capital is a retail forex and CFD brokerage registered in Mauritius and founded in September 2023. The firm operates through the domain milescap.com and presents itself as a global broker offering multi-asset trading services. It has a presence on Facebook, Instagram, and LinkedIn.

Despite its recent establishment, Miles Capital has not secured regulation from any recognized financial authority. The absence of oversight is a critical factor for traders to consider, as it means the broker is not subject to the standard protections and standards enforced by regulators in major jurisdictions.

Our review confirms that Miles Capital holds no active regulatory licences. The company is registered in Mauritius, but this registration does not equate to financial regulation. Traders should be aware that operating without regulatory oversight exposes them to risks such as lack of segregation of client funds, absence of dispute resolution mechanisms, and no minimum capital requirements for the broker.

We cross-checked the firm’s details against public registers and industry databases, finding no evidence of licensing with bodies like the FCA, CySEC, ASIC, or the FSC of Mauritius. This regulatory vacuum is a significant red flag for potential clients.

The broker offers three live account tiers catering to different trader levels. The Classic account requires a $50 minimum deposit and offers floating spreads from 1.5 pips, with maximum leverage of 1:200 for forex and 1:100 for metals. The Executive account starts at $1,000, and the Premium account at $10,000, the latter featuring raw spreads from 0 pips and a commission of $6 per lot.

All accounts are stated to be swap-free upon request, and leverage is capped at 1:200 for forex and 1:100 for metals across the board. The Premium account includes a personal account manager and telephone trading. The broker does not specify the number of tradable instruments for each account type but lists forex, shares, indices, commodities, and cryptocurrencies as available.

Miles Capital provides the MetaTrader 5 (MT5) platform, citing its advanced charting tools and support for algorithmic trading via Expert Advisors. The broker claims its order execution engine is located in a UK data centre, processing over 500,000 trades daily with a speed emphasis.

MT5 is a widely used platform known for its depth of market and analytical tools. However, the broker’s claims about execution quality and technology infrastructure cannot be independently verified due to the lack of regulation and independent audits.

The website does not explicitly list funding methods, but the contact page suggests communication via phone and email for support. Traders would need to inquire directly about available payment options. The absence of transparent information regarding deposit and withdrawal processes, including any fees or processing times, is a concern.

Given the regulatory void, clients may also face difficulties in resolving any issues related to fund transfers. We recommend only depositing funds you can afford to lose when dealing with unregulated brokers.

Customer support is available via phone (+230 245 6703) and email (info@milescap.com), with a contact form on the website. The broker claims to provide 'personalized support and expert guidance'. However, there is no live chat option, and the support hours are not specified.

While the contact details appear legitimate, the inability to verify the quality and responsiveness of support adds to the overall risk profile. In our assessment, responsible traders should approach with caution.

Miles Capital appears to target both retail and professional traders, with account minimums ranging from $50 to $10,000. The Classic account is suitable for beginners or those with limited capital, while the Premium account aims at high-volume traders seeking tight spreads and direct market access.

However, the lack of regulation makes the broker unsuitable for traders who prioritize security and regulatory protection. The high leverage options, while attractive, amplify risk and are often more common with unregulated or offshore entities.