Capital FX claims to be regulated by the Seychelles Financial Services Authority (FSA). However, the platform does not disclose the name of its underlying legal or operating entity, making verification impossible. We conducted a thorough search using the brand name "Capital FX" in the Seychelles FSA’s official register of licensed entities, but found no matching result. Furthermore, the platform also claims to be authorized by the British Virgin Islands Financial Services Commission (BVI FSC). Upon checking the BVI FSC’s public registry, we were unable to locate any license or authorization associated with Capital FX under that jurisdiction either. Given the absence of verifiable regulatory credentials from either authority, we have serious doubts about the legitimacy of Capital FX’s regulatory claims. The lack of transparent, confirmable licensing information is a major red flag. Therefore, we consider Capital FX as a potential scam.