Scrolling through the Adar Capital website, one can already conclude that the broker is a fraud. There is no license, and their legal documents are childish and provide mismatching information.
Read our comprehensive Adar Capital review. It will show you why we believe that your funds are not safe with this cyber-fraud.
Additionally, we strongly advise you to avoid the fraudulent brokers Crypto Portfolio, PrimespotWay, and Crypto1Capital.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||FCA|
|Owned by:||Sonorous Group LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Minimum Deposit:||250 EUR|
|Types of Assets:||Forex, commodities, shares, indices|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Adar Capital Has a Legal Forex License?
Adar Capital is a Sonorous Group LLC brand registered in March 2022 in Saint Vincent and the Grenadines. This is an instant red flag since SVG doesn’t have a regulator overseeing Forex and CFD trading brokers.
Rarely do brokers comply with the FSA directive and obtain regulation in the country of service. Most of them ignore the rules and hide under the authority’s radar.
Just in case, we’ve searched for Adar Capital and its owner in the registers of the FCA, ASIC, BaFin, CNMV, etc. Instead of a license, we found a warning stating that Adar Capital imposes itself as an FCA-regulated firm.
Reasons Not to Trust an Unlicensed Broker
Unlike real FCA-licensed brokers that must keep clients’ funds in segregated accounts and participate in the FSCS compensation fund with 85,000 GBP per customer, unlicensed brokers have no obligations. Furthermore, the FCA demands brokerage companies maintain a minimum capital of 730,000 GBP, so they cannot easily declare bankruptcy.
You have no guarantees with offshore scammers. They can vanish anytime, and recovering your funds is not an easy task.
Is Adar Capital a Trustable Broker?
Adar Capital is an offshore-based Forex and CFD brokerage. The UK regulator has blacklisted the company for falsely presenting as a part of an FCA-regulated trading firm.
Fraud Warning From the Financial Conduct Authority (FCA) in the UK
The UK FCA issued an official warning after learning that Adar Capital presents itself as a legitimate firm. The brokerage uses the details of a legit company, Sky Blue Management Ltd.
After numerous complaints, the FCA decided to put an end to fraud. They also warned customers that they would not be entitled to assistance from the financial ombudsman or the FSCS compensation fund.
What Do Traders Think Of Adar Capital?
Similar to regulators, traders only have complaints about Adar Capital. According to reviews, this scam firm is pressuring clients into investing, falsely presenting itself as a legit business.
Once clients invest their funds and request a withdrawal, Adar Capital employees freeze their trading accounts. They steal as much as possible and disappear, knowing they can hide offshore. This is a common tactic for financial swindlers.
What Platform Does Adar Capital Provide?
Adar Capital offers WebTrader. Allegedly, it includes comprehensive charting tools, four different forms of transaction execution, and an automated trading system.
Since creating an account is impossible without making an initial deposit, we cannot access the platform. Yet, we have to warn you about the dangers of web-based software. Since all the data is stored on the cloud, brokers can access your trades and simulate trading outcomes – making it look like you won or lost significant amounts of money.
Is The Platform Available On Mobile Devices?
The platform is only available via a web browser. There are no mobile apps available for Android or iOS.
If you’re looking for a more advanced platform with a wide array of features, you can find a brokerage offering MT4 or MT5. Both versions come with mobile apps, desktop apps, and WebTrader.
Adar Capital Accounts Overview
Adar Capital has 3 accounts on offer.
Allegedly, none of the accounts have additional commissions.
Adar Capital – Countries Of Service
Adar Capital broker mainly operates in:
Also, avoid the trading frauds Investery Group, Onotex, and Capartners LTD at all costs! Moreover, before investing, always look into the past of internet trading firms!
Adar Capital Range of Trading Markets
Adar Capital offers customers access to four markets.
Cryptocurrencies are not available.
What Is Known About Adar Capital’s Trading Conditions?
Offshore brokers often offer allegedly appealing trading conditions. They give access to high leverage and low spreads, luring customers into a scam. Once you sign up, leverage will ensure you lose funds quickly. The broker may not charge a high spread, but all other commissions will be high.
Leverage and Spreads
The leverage cap in the EEA zone and the UK is 1:30. US and Canadian regulators have set a limit of 1:50. Opposing all laws, Adar Capital offers up to 1:500.
The spread is advertised as relatively low, ranging from 0.13-0.0 pips.
Adar Capital Minimum Deposit and Withdrawal Terms
Adar Capital requires a minimum deposit of 250 EUR. This is typical for fraudulent companies. On the other hand, legitimate firms have Micro accounts starting at as low as $10.
As per withdrawal fees, we have the following clause “Withdrawals are subjected to withdrawals processing and handling fees. These fees will be deducted from the transferred withdrawn amount. The fee regulation is available on Adar.capital.” Yet fees are nowhere specified.
Methods of Making a Deposit
The company enables deposits via:
- Debit/credit card
- Wire transfer
The same method is available for withdrawals, with restrictions if an account has received a bonus.
Scammed by Adar Capital Broker? – Let Us Hear Your Story
If you fall victim to an Adar Capital scam, you should know that you’re not alone. We’re here to help you with the refund.
Contact our staff via online chat to book a free consultation with our chargeback specialists. We’ll evaluate your case and find the best way to help.
But What Is A Chargeback?
This is a way for your bank to recover funds directly from the merchant. Our consultants will explain everything to you upon case evaluation. Don’t waste more time. Let’s act now!