Conalp Review – What Do We Know About This Scam Broker?

Are You Taking a Risk Trading with a Conalp Broker?

It’s easy to prove that Conalp is not a US-based broker. It is essential that every broker operating in the United States must be registered with at least two authorities. The National Futures Association (NFA), and the Commodity Futures Trading Commissions (CFTC) are the two key authorities. Conalp and the fake company it represents are not to be found, as you might have guessed.

Conalp is a fake broker that offers fraudulent trading in crypto, stocks and commodities. Although Conalp claims to have been licensed by the US authorities, this is a total lie.

Arguments for Trading with a Licensed Broker

To be eligible for a US license, providers must have a minimum operating capital of $20,000,000 and provide clients with a separate bank account. Do you think Conalp is a fraudster, given all the suspicions surrounding him?

Conalp also claims to be operating in several European countries, including the UK and Germany. However, we were unable to locate any trace of Conalp in the databases of the respective financial markets authorities, the FCA or BaFin. This is enough to make Conalp return to the fraudulent depths from which it came.

Conalp also offers what platforms?

A “powerful, easy-to-use platform” that includes technical charts and research tools. Award-winning? We get a simple WebTrader after all the praise. We are beyond disappointed. This basic browser-based platform is not sophisticated. It is a bit lackingluster to be honest. Conalp is not regulated so the platform could be rigged.

Is it possible to access the trading platform from a mobile device?

Conalp’s trading platform was not very clear. Although we know this is false, the scam provider didn’t mention a mobile version. Even if one was available, we wouldn’t recommend it. Conalp is a fraud broker.

What Assets can an Investor Trade?

Conalp, according to its website, offers three asset types:

• Stocks – Google, Apple and Microsoft…
• Crypto – Bitcoin & Ethereum;
• Commodities.

This is a very weak offer, if we are honest. There are no Forex pairs or indices trading. Conalp’s descriptions of the instruments are also vague. Another reason to not trust this broker.

Conalp is involved in fraud? – Countries of Service

According to what we found on the website of the fraudster, Conalp is alleged to offer services in the following countries.

• United Kingdom;
• Germany;
• Poland;
• France;
• Turkey;
• United States.

We mentioned that the top three regulators don’t have any information on Conalp. This means that the broker is not licensed. It is therefore not allowed to operate in any of the six jurisdictions.

Conalp Traders’ Reviews

Conalp currently has seven reviews on ScamAdviser and three on TrustPilot. We believe the TrustPilot reviews are fakes, and were written by bots. We found four comments on ScamAdviser that Conalp was a scam. You can have one scammer to raise suspicions, but how about four? This is it.

What are the different types of Conalp accounts?

There are no account types. You read that correctly. Conalp only offers a demo and verified account. We had to search the website for information on trading conditions as Conalp wasn’t able to provide it.

Does Conalp Provide Bonuses?

We could not find any information on bonuses. There is no bonus policy in the T&C section. However, here’s some general information: bonuses are permitted in the US, but not in the UK or EU. Conalp claims that it provides services in Europe, so it is prohibited to offer bonuses. This is important to remember.

About Spreads, Leverage and Fees

The leverage cap is 1:10. This is a reasonable, but too high, limit for crypto trading. Regulators have set a maximum ratio of 1:15 in such volatile markets. We have not been able to locate any information regarding spreads.

Stock trading is subject to a $9.95 charge, which is quite high. The broker also states that additional fees could apply. The broker may also mention that there is no minimum deposit. This could be because the scammer depends on traders to make profits to get its share through high fees.

Minimum Deposit and Withdrawal Conditions

There is no minimum deposit, as mentioned. Conalp claims traders don’t have to pay a minimum deposit. This is likely a scam, as the rest of the website lies. Or the fraudster wants to make it up by charging high fees. No matter what the reason, you should never invest even a dime.

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!

Conalp: Video

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