WikiFX Fraud Alert: Please stay clear of ADAR Capital!!!

Investors who are still trading forex at ADAR Capital had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

First and foremost, to begin with the basic facts, on our next screenshot you may check the recent warning issued on October 7th by the financial authorities in the UK, who has clearly identified ADAR Capital as a scam. Take a look:

And bear in mind that the same warning covers a couple of domain names used by the ADAR Capital scammers–www.adar.capital.pro, www.adarcapital.pro and www.adar.capital, which is why we also say that the website is a part of a serial scam. Usually scammers reserve more than one domain address, so that when their current scam website gets exposed, they swiftly switch to the next one!

On top of that, ADAR Capital does not appear to be an ordinary scam, but a particularly dangerous clone website scam, because according to the FCA it mimics the identity of a legit and regulated British company – Sky Blue Wealth Management Ltd – in an apparent attempt to scam traders.

“This is what we call a ‘clone firm’”, the FCA warning reads, “and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorized firm or other details.”So Sky Blue Wealth Management Ltd has absolutely nothing to do with ADAR Capital as it has a single registered domain address – sbwm.uk.

WikiFX also paid a visit to the broker's official website to learn more, and discovered that ADAR Capital was based in St. Vincent and the Grenadines – a favorite location for scam brokers. The reason why fraudulent companies prefer this specific country is that the local financial regulator does not monitor the activities of forex brokers, does not impose laws in this sphere and does not impose transaction reporting requirements.

Furthermore, ADAR Capital offers a standard Webtrader. Such platforms are intuitive and easy to navigate but would definitely not be our first choice for a trading platform – they simply lack any advanced functionality or impressive trading features. You would not be getting much other than a few basic indicators and some quite standard tools.

ADAR Capital issues bonuses, and so do most fraudsters. However, such promotions are bound with clauses. It states that profits made with the bonus will not be legitimate for any kind of withdrawal. So how can ADAR Capital know what money is made using what？ Well, it does not, and it cannot – the reason it has this stipulation in its Terms and Conditions is so it can restrict client access to funds.

In addition, the ability to get the bonus, and only it, if you achieve a 25 times turnover is illusory. The volume requirement is too high. Yet it sometimes gets even worse, with offshore firms actually often restricting all of their clients withdrawal requests until a similarly high volume is reached.

Now let's search “ADAR Capital” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX, ADAR Capital currently has no valid regulatory license and the score is rather negative - only 0.99/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in ADAR Capital. The broker is an example of what we call a clone website, part of a serial scam, which on top of that has already been exposed by the Financial Conduct Authority (FCA) in the UK. In addition, the fact that the website is presumably operated by an offshore company based in St. Vincent and the Grenadines, does not help with its credibility either.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.