Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
5/10 · ModerateGenuine FSC Mauritius Investment Dealer licence confirmed on the regulator's own register for the exact contracting entity, but offshore-only supervision with no compensation scheme, and the site advertises a corporate licence number instead.
Identity & transparency
4/10 · ModerateLegal entity, company number and registry record all match the licence, but no street address on the site, no regulation page or licence certificate, and the Dubai operating base is absent from the website.
Withdrawals & conduct
4/10 · ModerateOne specific and unanswered fund-integrity report of profit deducted under a time-scalping rule, on one platform, with no corroborating pattern and no advance-fee demand anywhere.
Reputation
5/10 · ModerateAlmost no independent footprint: two reviews in total across the main platforms against a claim of 26,380 customers, with no regulator warning naming this firm or domain.
Website claims
6/10 · HighCites a Global Business Licence number as its regulation, and advertises 26,380 customers plus 278 million dollars of withdrawals and a UK matching engine that nothing corroborates; founding year and risk disclosures are honest.
Operational history
4/10 · ModerateVerified track record of about three and a half years from a February 2023 incorporation and a September 2022 domain purchase; the pre-2022 archive history belongs to earlier owners and is not claimed by the firm.
Who they are
A quick desk file on the company behind the brand.
- Brand: Miles Capital
- Legal entity: Miles Capital Limited, a Mauritius company incorporated on 8 February 2023
- Company number: 194281 (Mauritius)
- Registered office: Premier Business Center, 10th Floor, Sterling Tower, 14 Poudriere Street, Port Louis, Mauritius, which is the office of its licensed management company, Premier Financial Services Limited
- Presented headquarters: Deira, Dubai, United Arab Emirates, according to the firm's own corporate profile
- Website: milescap.com, with milescapitals.com serving the same site and the client area at broker.milescapitals.com
- Only licence: FSC Mauritius Investment Dealer (Full Service Dealer excluding Underwriting), granted 10 February 2023
- Offers: forex, metals, commodities, indices and shares as CFDs on MetaTrader 5, in Classic, Executive, Premium and Islamic accounts, leverage to 1:200, minimum deposit 50 USD
- Not accepted: residents of the United States, Cuba, Iraq, Myanmar, North Korea, Sudan, Iran, Somalia, Syria, Yemen and the Republic of the Congo
- Age claim: established in 2023, which matches both the incorporation date and the licence date
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
The Financial Services Commission (FSC) of Mauritius
Financial Services Commission of Mauritius, Global Business Licence GB22201008
Why we reached this verdict
How the evidence adds up.
The regulatory question came out in the firm's favour. Almost everything else about it is thinner than the firm says it is.
- The register answers the main question. Searching the name on the Financial Services Commission of Mauritius public register returns one entry: Miles Capital Limited, licensed on 10 February 2023 as an Investment Dealer (Full Service Dealer excluding Underwriting). The annotations column is empty, and that register does record lapses when they occur, so the licence reads as current. The registered office printed on the entry matches the address on the company's registry record.
- A Mauritius dealer licence is real supervision, but it is not strong protection. No statutory compensation scheme sits behind it. If this firm fails there is no fund that repays clients, and any dispute is pursued in Mauritius.
- The firm cites the wrong licence number on its own site. GB22201008 is a Global Business Licence reference, the corporate permission a Mauritius global business company holds. The trading authorisation is the separate investment dealer licence. The site carries no regulation page, no licence certificate and no link to the register, so anyone who checks the advertised number finds a corporate licence and reasonably concludes there is no trading licence. That is how several third-party sites came to describe the firm as unregulated.
- The advertised scale is corroborated nowhere. The homepage claims 26,380 customers, more than 278 million dollars in withdrawals and more than 530 million dollars in annual transactions. Against that, the independent review record is one review on Trustpilot and one on Myfxbook. A business of the advertised size leaves a far larger trace than that.
- One complaint concerns money, and it is specific. A reviewer in August 2026 reported that 219.16 dollars was removed from 374.43 dollars of profit on account 920398 under a time-scalping rule. The firm's published trading conditions do define a scalping trade as one closed within 180 seconds and excessive scalping as more than 20 percent of a client's trades, but the remedy they reserve is requiring a lower scalping ratio before a withdrawal is allowed, not deducting realised profit. The complaint sits unanswered.
- The operating base is not where the licence is. The site reads as a Mauritius firm. The company's own corporate profile puts its headquarters in Deira, Dubai, and its review-platform profile carries a United Arab Emirates address and phone number. No UAE authority licenses this operation, and the restricted-countries list excludes 11 countries but not the United Arab Emirates, the United Kingdom, the European Union or India.
- The domain is much older than the business. milescap.com has archived pages going back to 2006, but it was offered for sale in December 2021 and re-registered on 28 September 2022; the company was incorporated in February 2023. The honest operating record is about three and a half years, not twenty, and to the firm's credit it does not claim otherwise.
- Nothing adverse came back from the warning lists. There is no entry for this firm or this domain on the Mauritius regulator's investor alerts or its surrendered-licence notices, and none on the Reserve Bank of India list of unauthorised forex trading platforms.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Mauritius regulator's public register returns one entry for the name: Miles Capital Limited, licensed 10 February 2023 as SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting), management company Premier Financial Services Limited, licensee status company is incorporated, annotations blank, registered office Premier Business Center, 10th Floor, Sterling Tower, 14 Poudriere Street, Port Louis. The register records lapses when they occur, so an empty annotation means the licence reads as current.
E2The legal entity record for Miles Capital Limited gives Mauritius registration authority RA000447, entity number 194281, entity creation date 8 February 2023, and a legal and headquarters address of 14 Poudriere St, Premier Business Center, 10th Floor, Sterling Tower, Port Louis 11311, matching both the licence entry and the company number printed in the website footer.
E3The FCA warning that names a Miles Capital is about a different operation: Miles Capital Corporation LLC, website milescapitalcorp.com, 215 Park Ave S, New York, telephone +1 332 322 7783, first published 4 May 2021 and updated 7 May 2021. That is a different legal entity, a different domain and a different country, warned more than a year before Miles Capital Limited was incorporated, so none of it attaches to this broker.
E4The only regulatory disclosure anywhere on the site is a single footer line: Miles Capital Limited is regulated under The Financial Services Commission (FSC) of Mauritius. License number GB22201008, Company number 194281. GB22201008 is a Mauritius Global Business Licence reference, a corporate permission rather than the investment dealer authorisation. There is no regulation page, no licence certificate and no link to the regulator's register on any page.
ModerateMiles Capital website footerE5The homepage advertises 26,380 happy customers, more than 278 million dollars of withdrawal amount and more than 530 million dollars of annual transactions, and the about page adds an order matching engine in a UK data centre processing over 500,000 trades per day. None of these figures is corroborated by any independent source, and the firm holds no UK authorisation.
E6Trustpilot's page for milescap.com holds one review, rated one star, dated 18 August 2026. The reviewer reports trading account 920398, 374.43 dollars of profit and 219.16 dollars deducted by Miles Capital citing time-scalping rules for trades closed under three minutes. The profile also shows the company has not replied to negative reviews, and lists its contact details as United Arab Emirates with telephone +971 4252 3475.
ModerateTrustpilot, milescap.com profileE7The published trading conditions define a scalping trade as any trade opened and closed within 180 seconds and excessive scalping as more than 20 percent of a client's overall trades, and reserve the right to enforce a reduction in the scalping ratio before withdrawal eligibility. The published remedy is a withdrawal-eligibility condition, not deduction of realised profit, which is what the August 2026 complaint describes.
ModerateMiles Capital trading conditionsE8The firm's own corporate profile gives its location as Deira, Dubai, United Arab Emirates, in the financial services industry, and names milescap.com as its website, which ties the page to this broker. The website itself mentions only Mauritius, so the operating base is not disclosed to visitors. The about text also opens with boilerplate carried over from another company, reading here at Investis.
ModerateMiles Capital corporate profileE9The main domain milescap.com was registered on 28 September 2022 through GoDaddy, and the alias milescapitals.com on 19 March 2024. The company behind them was incorporated in February 2023, so the operating record runs from late 2022 at the earliest.
ModerateVerisign RDAP registry recordsE10Archived copies show milescap.com carrying a domain-for-sale page in December 2021 and a coming-soon countdown in March 2023, with snapshots of unrelated earlier use going back to 2006. The apparent twenty-year domain history belongs to previous owners, not to this brokerage, which does not claim it.
E11The Mauritius regulator's surrendered-licence notices list entities that have given up Global Business and Investment Dealer licences through 2026, including several brokers, and contains no entry for Miles Capital. The same regulator's investor alerts page carries no alert naming this firm.
E12The Myfxbook broker page for Miles Capital Limited, listing milescap.com, carries a single review, rated 5 out of 5, posted on 8 October 2025. Together with the single Trustpilot review that is the entire independent review record for a firm advertising 26,380 customers.
ModerateMyfxbook broker reviewsE13The client area is live and conventional: the sign-up link resolves to a working portal headed Start Trading Today with balance and wallet management, rather than a messenger handle or a direct app download. The firm offers MetaTrader 5 on desktop, web and mobile and runs its own branded trade server.
ModerateMiles Capital client portalE14The firm's legal entity identifier registration lapsed on 18 July 2026 and the record is marked policy non-conforming, while the company itself remains active on the Mauritius register. An identifier of this kind is an administrative registration rather than a licence, so the lapse signals neglected paperwork rather than a loss of permission.
E15The about page states the firm was established in 2023, which matches the 8 February 2023 incorporation and the 10 February 2023 licence date. The site publishes a risk warning and a restricted-countries list, and carries no guaranteed-return promises, award claims or press endorsements.
ModerateMiles Capital about page
The other side
The strongest case in this broker’s favour.
The case for Miles Capital being an ordinary small offshore broker, rather than anything worse, is stronger than its low third-party scores suggest.
- Its licence is not a claim, it is a register entry. The entity on the licence is the same entity named in the website footer, at the same registered address as its company record. That is the hardest single thing for a fake operation to produce.
- The widespread description of this firm as unregulated looks like a research error rather than a finding. It traces back to the Global Business Licence number printed in the footer, not to any search of the investment dealer register.
- The age claim is honest. A site saying established in 2023, on a company incorporated in February 2023 and licensed in February 2023, is the opposite of the pattern these investigations usually turn up.
- There are no guaranteed-return promises, no invented awards, no celebrity endorsements and no fabricated press logos. A risk warning and a restricted-countries list are both published.
- The platform is real. The firm runs MetaTrader 5 with its own branded trade server, a working client portal and a conventional account-opening funnel rather than a messenger-based one. There is no sideloaded app and no crypto-only cashier on display.
- No regulator anywhere has acted against this firm. The only Miles Capital on the FCA warning list is a different company, with a different domain, in a different country, flagged before this one existed.
- The single money complaint arises from a trading rule the firm publishes in advance. Reasonable people disagree about scalping clauses, and that is a terms dispute rather than deposits disappearing.
What would change this
What we would need to see to revise the verdict.
Here is what would move this assessment in either direction.
- Towards safer: the firm publishing its investment dealer licence number with a direct link to the Mauritius register, and adding its registered address and its Dubai office to the site.
- Towards safer: a year or two of independent reviews from different clients showing withdrawals arriving as promised, and figures that support the advertised client base rather than contradicting it.
- Towards worse: the Mauritius regulator annotating the entry as lapsed, publishing a surrender notice, or issuing an investor alert naming milescap.com.
- Towards worse: a second and third report of profit deducted or withdrawals held, particularly from different platforms inside one window, or any report of a payment demanded before funds are released.
- Towards worse: a warning from a regulator in the United Arab Emirates, India, the United Kingdom or the European Union naming this domain.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FSC Mauritius Online Public Register
Type Miles Capital Limited in the Name box and submit to see the investment dealer licence; the firm publishes no verification link of its own.
FSC Mauritius surrendered licence notices
Check whether the licence has since been given up; Miles Capital does not appear on it at the time of writing.
FSC Mauritius investor alerts
The Mauritius regulator's warning page; no alert names this firm at the time of writing.
GLEIF legal entity record
Confirms the company identity, Mauritius registration number 194281 and the registered office.
Trustpilot reviews for milescap.com
The only complaint we located about this broker, with its account number and amounts.
FCA warning: Miles Capital Corporation LLC
A different company at milescapitalcorp.com in New York, warned in May 2021; it is not this broker.
Miles Capital website
The broker's own site, where the footer licence line appears.
Frequently asked questions
Quick answers about this broker’s safety.
Is Miles Capital a scam?
We found no evidence that it is. The licence it claims is genuine and appears on the Mauritius regulator's own register, no regulator has warned about this firm or this website, and we located only one money-related complaint. We still rate it high risk and unverified, because the firm advertises a business far bigger than anything we could confirm independently.
Is Miles Capital a fraud?
No regulator or court has made a finding of fraud against Miles Capital Limited, and we found no fraud-related enforcement action or court record naming the company or milescap.com. We assess the risk as elevated rather than proven, mainly because the firm's public track record is very thin for an operation of the size it advertises.
Is Miles Capital regulated?
Yes, by the Financial Services Commission of Mauritius. Its public register lists Miles Capital Limited as an Investment Dealer (Full Service Dealer excluding Underwriting), licensed on 10 February 2023, with no lapse or revocation noted. That is a genuine trading licence, though Mauritius is a mid-tier offshore regime rather than a top-tier one.
Why do other websites say Miles Capital is not regulated?
Because the firm prints the wrong number on its own site. The footer cites GB22201008, which is a Mauritius Global Business Licence, meaning a corporate permission rather than a trading authorisation. Reviewers who check that number find a company licence and stop there. The investment dealer licence is a separate entry, and it is on the register under the company name.
What is licence GB22201008?
It is the firm's Mauritius Global Business Licence reference. Every Mauritius global business company holds one, and it says nothing about whether the company may run a brokerage. The permission that matters for a broker is the investment dealer licence, which Miles Capital Limited does hold.
Can I withdraw my money from Miles Capital?
We found one public complaint on this point: a client reported in August 2026 that 219.16 dollars was deducted from 374.43 dollars of profit under a time-scalping rule, and the firm did not reply. We found no report of deposits being refused outright. One complaint is not a pattern, but it is the only first-hand account available, so test a small withdrawal before committing more.
Is my money safe with Miles Capital?
A Mauritius investment dealer licence brings capital and conduct requirements, but there is no compensation scheme. If the firm fails, no fund reimburses you, and you would pursue the matter in Mauritius. The site also does not publish which entity holds client money or whether it is segregated, so ask for that in writing before depositing.
Is Miles Capital a clone of another broker?
No. The entity named in the website footer, Miles Capital Limited, is the same entity on the Mauritius licence and the same entity on the company registry record, at the same registered address. It is not using another firm's licence number, name or address.
Is the FCA warning about Miles Capital about this broker?
No. That warning, published in May 2021, names Miles Capital Corporation LLC at milescapitalcorp.com, with an address at 215 Park Ave S, New York. This broker is Miles Capital Limited of Mauritius at milescap.com, incorporated in February 2023, more than a year after the warning. They are separate operations that share part of a name.
Who owns Miles Capital and where is it based?
The contracting company is Miles Capital Limited, registered in Mauritius under number 194281, with its registered office at Premier Business Center, Sterling Tower, Port Louis, which is its management company's address. The firm's own corporate profile gives its working headquarters as Deira, Dubai. The website mentions only Mauritius, so you would not learn the Dubai base from the site itself.
How old is Miles Capital?
About three and a half years as a business. The company was incorporated on 8 February 2023 and licensed two days later. The milescap.com domain has archived pages back to 2006, but it was on sale in December 2021 and re-registered in September 2022, so that older history belongs to earlier owners rather than to this firm.
Does Miles Capital accept clients from the UK, the EU or India?
Its restricted-countries list names 11 countries and does not include the United Kingdom, the European Union, India or the United Arab Emirates. A Mauritius licence gives you no local protection in any of those places: no local ombudsman and no local compensation scheme.
What should I check before depositing with Miles Capital?
Confirm the investment dealer entry on the Mauritius register under the exact name Miles Capital Limited and check the annotations column is still empty. Read the scalping and bonus clauses in the trading conditions. Ask in writing where client money is held. Then deposit a small amount and withdraw part of it before adding more.
What should I do if I think a broker has taken my money?
Write to the firm first, quoting your account number, dates and exact amounts, and keep every reply. Then complain to its licensing authority, here the Financial Services Commission of Mauritius. If you paid by card or bank transfer, ask your bank about a chargeback or recall quickly, because time limits apply. Never pay anyone who offers to recover your funds for an upfront fee.
What we recommend
The practical takeaway from everything above.
If you are considering Miles Capital, treat it as an unproven offshore broker rather than a safe one.
- Verify the licence yourself before depositing. Search Miles Capital Limited on the Mauritius regulator's public register and confirm the investment dealer entry is still listed with no lapse note. Ignore the GB number printed on the site, which is a corporate licence.
- Keep any deposit small enough that losing access to it would not matter, and test a withdrawal early with part of the balance before adding more.
- Read the scalping and bonus clauses in the trading conditions before you trade. Short holding times can put your profit at issue under the published rules.
- Ask in writing which entity holds your money, where it is held, and whether it is segregated from company funds. Keep the reply.
- Understand that a Mauritius licence carries no compensation scheme. If the firm fails, no fund repays you.
- If you are already in dispute, write to the firm quoting your account number, dates and amounts, then complain to the Financial Services Commission of Mauritius as the licensing authority.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 12, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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