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Yes, the main drawback of Elite Capitals is its unverified regulatory status. Despite claims of being regulated by ASIC, this is suspected to be a clone or invalid, which raises significant concerns about the safety of client funds and the overall legitimacy of the broker. Additionally, the high minimum deposit for the ECN account, set at $1,000, may deter beginner traders or those with limited capital. The uncertainty around investor protection and fund safety makes me hesitant to fully trust this broker. It’s crucial for traders to carefully consider these factors before making a Turing login or opening an account with Elite Capitals.