Souq Capital has been flagged by Dubai Financial Services Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I opened an account with Souq Capital for the past year and a half ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Educational resources|Easy withdrawals
Cons: No fractional shares
Where do I even begin with Souq Capital? since last summer of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Fast support response|Copy trading available
Cons: Research section could be deeper|Nothing significant
I have been trying to close my account with Souq Capital for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Regular updates|Helpful community forum|Detailed reporting
Cons: Account statements could be more detailed
I had a dispute with Souq Capital and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Two-factor authentication|Segregated accounts|Responsive team
Cons: Search feature is basic
For anyone considering Souq Capital, please be aware that this company has been flagged by Dubai Financial Services Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
Several red flags with Souq Capital: (1) They promise unrealistically high returns, (2) They're not registered with Dubai Financial Services Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Flagged by Dubai Financial Services Authority|Cannot verify credentials
I invested $10,000 with Souq Capital after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Dubai Financial Services Authority.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
I requested my data from Souq Capital under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Real-time alerts|Stable platform
Cons: Desktop app not available on Linux
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Souq Capital recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Detailed reporting|Stable platform
Cons: Wish they had more educational resources