AdarCapital Review – Scam Broker With Warnings From Regulators

As of May 2023, the broker (Adar.capital.pro) has ceased operations. But you can read the article to avoid falling for similar scammers.

Is AdarCapital a Scam Online Trading Platform?

The short answer is yes. We will need to verify AdarCapital regulations and headquarters, owners, and other details.

According to the website, the brand’s owner is Sonorous Group LLC. It is registered in Saint Vincent & the Grenadines. This alone is enough to know that we are dealing with a fraud.

The FSA of SVG has repeatedly warned investors that it does not regulate binary options, CFDs, Forex or CFD trading. All firms that are registered in SVG must obtain a license from the country of their service.

We found no evidence of broker AdarCapital in the registers of major license providers like ASIC, FCA, BaFin, etc.

Their leverage is also not in compliance with ESMA rules. Retail investors are limited to 1:30 per company that operates in the EEA area.

This is not the worst part. Some authorities have blacklisted the company and called it a financial fraud. Let’s find out why.

AdarCapital Broker Scam Warnings

UK FCA raised concerns about the AdarCapital trading fraud, noting that the company was regulated as a UK brokerage. FCA issued a warning in October 2022. It stated that AdarCapital Forex broker had presented itself as Sky Blue Wealth Management Ltd., thus making it a clone company.

A month later, the Spanish CNMV issued a Warning indicating that AdarCapital does not have authorization to provide any type of financial services within the EU. As definitive evidence of a fraud, this warning was republished in Belgium.

Are AdarCapital Scam Victims Living in Canada?

Our research shows that AdarCapital’s scam was carried out in the following manner:

• Spain
• US
• Germany
• Switzerland

The list isn’t complete. SimilarWeb data shows that the brokerage received over 21K visitors in November 2022. Most of these were from India, Malaysia, and Bulgaria.

They appear to be expanding the scheme. If you live elsewhere, make sure to decline the offer.

How does this scam broker contact victims?

AdarCapital, along with its numerous websites, has been active since May 2022. The firm has been posting fraudulent ads on Facebook, Instagram, and Google to lure inexperienced traders into falling for the scam.

Employees called and emailed all those who clicked on the ad, and even those who did not. Scammers sometimes buy data from others, which increases their potential victims. Do not answer unsolicited calls from people claiming that you have registered with them, even if you are certain you don’t remember.

Account managers will add you to groups, private chats and channels on Telegram or WhatsApp if you believe the story and deposit funds. They can also show you fake photos and success stories from clients who are not there.

You can also reach out via social media such as YouTube and LinkedIn. To boost their credibility, brokers love to create fake profiles that pretend to be financial advisors.

A quick reminder: Make sure to carefully review any offer you receive. Be skeptical of any promises or guarantees made by anyone.

WebTrader Platform – Trading Software

We were disappointed when we looked at AdarCapital’s trading platform. The company offers only browser-based software and basic TAs.

AdarCapital WebTrader does not stand out in any way. We do not have advanced tools like EAs and social trading. Nor have we seen any really exciting features.

Third-party platforms like MT4, MT5 or cTrader are not offered by the broker. These platforms are more reliable and easier to use. Retail traders like you have the opportunity to try different strategies and choose the one that best suits their needs.

AdarCapital Mobile Trading app – How do I download it?

AdarCapital login via a mobile device can only be done through a web browser. There are no apps. You can therefore forget about easy trading if you want it.

What can I trade with a broker?

The access clients have to four types of assets. This is a bit restrictive. We consider cryptocurrencies to be a major disadvantage. You can trade in:

• Currency Pairs (Forex Market), such as EUR/USD or USD/ZAR, or NOK/ILS
• Indicessuch DAX30, CaC 40, and FTSE100
• Shares including Apple and Google as well BMW
• Commodities Gold Natural Gas, Corn

Spreads and Fees for AdarCapital

Pricing is calculated from liquidity sources according to the website. The spread is advertised in the account types section as ranging from 0.0 to 0.13 pip. While swaps are not mentioned in the account types section, it is claimed that there are no trading commissions.

Overall, AdarCapital, even if it offered trading for free, would remain an unregulated fraud.

Protection of Negative Balance

To prevent customers falling into debt, negative balance protection is applied. The account should be closed automatically when it reaches zero.

Scammers won’t offer this service because it is not in their best interests to have customers indebted. The AdarCapital scam allows clients to owe money.

Is AdarCapital Demo Account Available?

The AdarCapital Demo Account is not currently available. Customers can register for their accounts to see the WebTrader, but that’s it.

MetaTrader would be a great option if the firm also offered a risk-free account. They come in a bundle. AdarCapital has no regulation or reputable platform and can make clients deposit money, then disappear.

How do I withdraw money from my AdarCapital account?

AdarCapital’s Withdrawal Policy is the first thing that stands out. It’s a Word document. After downloading the file, we found that the brokerage accepts these payment methods.

• Wire transfer
• Debit/ Credit Cards

Customers need to log in to their trading accounts, complete, print, sign, and return the withdrawal form to AdarCapital’s compliance team along with any verification documents. We are now at the second part of this scam.

Here are the steps involved in withdrawing your request.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

AdarCapital: Video

Below you will find a short video about AdarCapital. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about AdarCapital!