This AdarCapital review should highlight the main issues when dealing with unregulated offshore fraud. Instead of fund security and profit, all you can expect is a headache.
We’ve seen it many times; offshore scammers promise unrealistic returns to entice investors, only to disappear later with all the funds. Don’t fall for it. Read our review and be educated about the matter.
The short answer would be – yes. The long answer requires us to check AdarCapital regulations, headquarters, owners, etc.
According to the website, the brand is owned by Sonorous Group LLC, registered in Saint Vincent and the Grenadines. This per se is enough to understand we’re dealing with a scam. Namely, the FSA of SVG has warned investors numerous times that it doesn’t regulate Forex, CFD, or binary options trading. Thus, all firms registered there must opt for a license in the country of service.
Upon checking registers of prominent license providers such as FCA, ASIC, BaFin, etc., we found no trace of broker AdarCapital. Further, their leverage doesn’t comply with ESMA rules, according to which every company operating in the EEA zone must maintain a limit of 1:30 for retail investors.
To make it worse, some of these authorities have blacklisted the business and labeled it a financial fraud. Let’s see why.
Our research has shown that the AdarCapital scam was conducted in the following:
However, the list doesn’t stop there. According to SimilarWeb results, the brokerage had over 21K visits during November 2022, with the majority being from Malaysia, India, and Bulgaria. They seem to be expanding the scheme, so wherever you reside, be sure to decline the offer.
AdarCapital and its many websites have been active since May 2022. Since then, the firm has posted a number of fraudulent ads via Google, Instagram, and Facebook, enticing inexperienced traders into a scam.
The employees called and emailed everyone who clicked on their ad and even those who didn’t. Sometimes scammers buy data from each other, increasing their pool of potential victims. If you receive an unsolicited call from someone claiming you registered with them and you clearly remember you didn’t, ensure to hang up the phone.
If by any chance you fall for the story and deposit the funds, account managers will add you to private chats, groups, and channels on Telegram and WhatsApp. There, they can show you success stories and fake photos of the profit they made for non-existent clients.
Further, you can be approached through social media, YouTube, and even LinkedIn. Broker employees love to make fake profiles pretending to be experienced financial advisers and boost their credibility.
Short reminder: Always analyze the offer you get. If anyone promises or guarantees anything, be sure it’s a fraud.
Once we reviewed AdarCapital’s trading platform, we were left disappointed. The firm offers nothing but browser-based software with basic TAs.
AdarCapital WebTrader is not unique in any aspect. We don’t have any advanced tools such as EAs or social trading, nor have we seen any particularly exciting feature.
The broker doesn’t offer third-party platforms such as MT4, MT5, or cTrader, which are far more reliable and better to use. With any of these, retail traders such as yourself have a chance to test various strategies and find the one that suits their needs.
AdarCapital login from a mobile device is only enabled through a web browser. There are no dedicated apps. Hence, if you are hoping for easy trading, you can forget it.
Clients have access to four groups of assets, being a little limiting. For instance, cryptocurrencies are not on offer, which we see as a big disadvantage. What you can trade in is:
According to the website, pricing is derived from liquidity sources. In the account types section, it’s advertised that the spread starts from 0.0 to 0.13 pips. Other fees, such as swaps, are not mentioned, while allegedly, there are no trading commissions.
All in all, even if they offered free trading, AdarCapital would still remain an unregulated scam.
You can choose from one of the 3 AdarCapital account types:
The website states that AdarCapital’s minimum deposit is 250 EUR, while other accounts don’t have specified amounts. The main difference is spread, lowering with each type.
Negative balance protection is used to prevent customers from falling into debt. Once the account balance reaches zero, it should automatically close.
Scammers don’t offer this feature as it’s in their best interest to have indebted customers. Hence, the AdarCapital scam is running in the same manner, allowing clients to owe money.
The AdarCapital Demo account is not available. Clients can register their accounts and check what the WebTrader looks like, but that’s all.
If the firm offered MetaTrader, it would provide a risk-free account, too, as they come in a bundle. Yet, since it has no reputable platform or any kind of regulation, AdarCapital can pressure clients for a deposit and vanish.
The first odd thing is AdarCapital’s Withdrawal Policy, that’s in a Word document. Once downloaded, we discovered that the brokerage accepts the following payment methods:
Customers should log in to their trading account, fill out, print, and sign the withdrawal form, and return it to AdarCapital’s compliance department, along with verification documents. And now, we have come to another part of the scam. Here’s what happens when you submit a withdrawal request.
Each time you transfer a sum of money to a business, they must confirm your identity in accordance with AML policies. Especially if this sum is a bit larger (the exact amount depends on the jurisdiction). However, scam brokers often disregard this law in their rush to take your money.
Yet, once you ask for a payout, they will demand all kinds of documents and signatures. Often, their compliance department will ask you to submit new photos, claiming that you cut the corners of your utility bill or it’s not readable enough. They can ask for colored images and more.
This can go on for weeks, even months. When they stay without excuses, they can simply block your trading account and vanish.
If you find yourself a victim of AdarCapital’s fraud, don’t get desperate. It can happen to the best of us. It’s essential to take the first step toward recovery, and Global Fraud Protection can help you with it.
AdarCapital is not a legit broker. If you find yourself scammed, contact our chargeback department immediately for help with fund recovery.
Your funds are unsafe with AdarCapital as it’s a scam broker banned in the UK, Belgium, and Spain.
AdarCapital doesn’t offer a free Demo accounts to its users.
The minimum deposit with this fraudulent brokerage is 250 EUR.
AdarCapital is not a legit broker. If you find yourself scammed, contact our chargeback department immediately for help with fund recovery.
Your funds are unsafe with AdarCapital as it’s a scam broker banned in the UK, Belgium, and Spain.
AdarCapital doesn’t offer a free Demo accounts to its users.
The minimum deposit with this fraudulent brokerage is 250 EUR.
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