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CAPEX in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%55
- Round-turn cost20%92.5
- Safety20%0
- Payouts15%80
- Track record10%50
- Platforms10%25
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- KW Investments Ltd
- Founded
- 2016
- Retail leverage
- 300 group
- Round turn
- 6.5 USDIN
- Currencies
- USD/EUR. No INR account verified.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with CAPEXThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- KW Investments Ltd
- Local standing
- Not SEBI-regulated; CFD/margin FX trading on offshore platforms is restricted for residents under FEMA/RBI. Post-NAGA merger onboarding closed, redirected to NAGA.
- Licence as the register states it
- No SEBI authorization. Offshore Seychelles FSA SD020 only.
- Leverage for this entity
- Offshore up to ~1:300 (historic). Not applicable for compliant IN residents; onboarding closed.
- The firm behind it
- CAPEX.com launched 2016 by Key Way Group; merged into NAGA Group Aug 2024.
- What we hold against it
- No SEBI licence; offshore CFDs a regulatory grey area for residents. Brand winding down; onboarding closed.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youNot SEBI-regulated; CFD/margin FX trading on offshore platforms is restricted for residents under FEMA/RBI. Post-NAGA merger onboarding closed, redirected to NAGA.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Essential ($100), Original ($1, 000), Signature ($25, 000). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where CAPEX sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 6.5 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 100 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:300 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts(2 methods)
| Method | Deposit, h | Fee, USD | Min, USD |
|---|---|---|---|
| Cards | 24 | 0 | 50 |
| Bank wire | 24 | 0 | 50 |
Deposit and withdrawal methods (2 methods · 0 local rails)
Cards, bank wire, e-wallets.
- Cards
- Bank wire
- Account currency
- USD/EUR. No INR account verified.
- Fee declared
- 2 of 2 methods
- Withdrawal back to
- the funding method
Where it does not serve(3 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- CapexTrader
- MT5
| Class | Min spread | Leverage |
|---|---|---|
| CapexTrader | 1.2 | 300IN |
| MT5 | 1.2 | 300IN |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.1 | 1,900 |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(4 for and 5 against, each tied to a figure on this page)
- Round turn 6.5 USD on the raw + commission basis, under the India median 7
- Withdrawal in 24 h, one of 74 of 90 brokers here that publish a time
- Swap-free account available
- Round-turn cost 92 of 100, its strongest of 6 scored axes
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Min deposit 100 USD, over the India median 15
- The published 1:300 comes from the group's offshore entity, not from the India one
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 7IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 500IN
- Rank in this country
- #16
- Round turn, USD
- 7IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 1000IN
- Rank in this country
- #36
- Round turn, USD
- 6IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 500IN
- Rank in this country
- #42
- Round turn, USD
- 6IN
- Min deposit, USD
- 100 groupIN
- Leverage
- 500IN
- Rank in this country
- #1
- Round turn, USD
- 7IN
- Min deposit, USD
- 100IN
- Leverage
- 200IN
- Rank in this country
- #18
- Round turn, USD
- 5IN
- Min deposit, USD
- 0 groupIN
- Rank in this country
- #2
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | CAPEX |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 55 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 92 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 50 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 25 |
FAQ
- Does CAPEX accept residents of India?
- No. Not SEBI-regulated; CFD/margin FX trading on offshore platforms is restricted for residents under FEMA/RBI. Post-NAGA merger onboarding closed, redirected to NAGA. Onboarding entity: KW Investments Ltd
- Is CAPEX licensed to serve clients in India?
- No SEBI authorization. Offshore Seychelles FSA SD020 only. Checked on 09.07.2026.
- How much does one round turn cost at CAPEX?
- About 6.5 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does CAPEX offer to retail clients in India?
- Up to 1:300. Offshore up to ~1:300 (historic).
- Which trading platforms does CAPEX support?
- CapexTrader, MT5. Instruments: 2,100+ instruments: FX, shares, ETFs, indices, commodities, crypto CFDs.
- How can I withdraw money from CAPEX in India?
- Cards, bank wire, e-wallets. Indian rails (UPI) not verified; forex remittance for margin trading restricted.
- What account types does CAPEX offer?
- Essential ($100), Original ($1,000), Signature ($25,000).
- Does CAPEX offer a swap-free (Islamic) account?
- Yes. CAPEX offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.