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Aduno Capital Review - is it scam or safe?

Aduno Capital Review - is adunocapital.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Aduno Capital
Aduno Capital is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Min. deposit  Max. leverage  Spread
Standard  N/A N/A N/A

 

Aduno Capital is a broker allegedly based in Germany that claims to offer trading in forex pairs and woide range of CFDs, but has not disclosed any relevant information on trading accounts, conditions, platform, etc. What is worse, it operates without a valid forex broker license and illegally uses the details of other duly regulated brokers. You can find all details about Aduno Capital below.

 

 

Aduno Capital Advantages

 

Not any.

 

 

Aduno Capital Disadvantages

 

A clone firm

This broker claims to be operated by ADUNO Capital Group ltd., a company allegedly based in Stuttgart, Germany. Furthermore, Aduno Capital claims to be based by some of the most reputable European financial regulators – the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Malta Financial Services Authority (MFSA), as well as by the SFC in Hong Kong.

 

 

When we checked the registration numbers with these authorities, however, it turned out that all of them belong to various subsidiaries of Maltese forex brokerage Exante and its subsidiaries. In other words, Aduno Capital is a clone firm, illegally using the details of a licensed company with which it isn’t related in any way.

 

Blacklisted by BaFin and Austrian FMA

Considering the previous point and the fact that Aduno Capital seems to target mainly German-speaking investors, it is not surprising that the broker has gotten under the radar of the Austrian regulator Financial Markets Authority and the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin). The latter even mentioned that all licenses mentioned on Aduno Capital’s website are actually granted to Maltese company XNT LTD., with which the broker has never partnered.

 

 

Click on the image to zoom in.

 

No clarity on trading conditions

Another worrisome sign regarding Aduno Capital is the broker doesn’t provide much details about the trading environment they provide. Its website does not include information on the account types, nor tha trading platform and conditions the broker offers. We only found some reference spreads, which we could not verify, as Aduno Capital does not provide free testing service either.

 

 

 

>> Compare the spreads of top forex brokers <<

 

 

So, potential clients of this broker don’t know what is the initial capital required for live trading, the maximum leverage levels available, commission fees, etc. These are clear-cut signs of trouble are the usual “tell” of a scammer.

 

MetaTrader not supported

While it is not clear what platform does Aduno Capital use, if any at all, its website does not mention the industry’s leading MetaTrader4 (MT4). The MT4 is preferred by most traders and that is why the majority of forex brokerages support it, even if they have developed a platform of their own.

 

The MetaTrader4 is popular for its ease of used and great functionalities, such as the support of automated trading bits called Exert Advisors, the superior charting, the customization options and more.

 

 

>> Choose some of the best MT4 brokers <<

 

 

Conclusion

 

We believe we highlighted enough red flags regarding Aduno Capital to prevent most investors to sign up with this con-artist. The broker obviously targets mainly German-speaking traders, but is utterly unclear about its trading conditions and tries to mislead potential clients that the brands is operated by a genuine and regulated company.

 

As always in such cases, our best advice for investors is to trade only with brokers holding legit licenses and to carefully check the company’s names in the respective public registers kept by the financial authorities.  

 

When you invest with a brokerage regulated and authorized by a prestigious regulatory agency such as the UK’s FCA or CySEC can trade with the ease of mind that their funds are safe and sound and that there is an authority they can turn to in case something goes wrong.

 

 

>> Wanna trade with a broker licensed in the UK? <<

 

 

For example, brokers licensed in the UK have to comply with a number of strict rules which provide significant assurance for the security of its clients’ funds. One of the most important among them is participation in the Financial Services Compensation Scheme (FSCS). This is a mechanism, which periodically collects payments from participants and puts them in a fund. This is later used to guarantee traders’ accounts, in case one of the participating brokers goes bankrupt. Coverage is limited to £85,000 per client.

 

And finally, here are the highlights of the present review of Aduno Capital:

 

Pros Cons
Not any A clone firm
  Blacklisted by several EU regulators
  Zero clarity on trading conditions
  MetaTrader not supported

 

Latest news about Aduno Capital
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Traders` reviews for Aduno Capital

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Cons

 

 

Deposit/Withdraw

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Cons

 

 

Customer service

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Summary

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