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Contract reading

What Adam Capitals legally published, but does not want you to read

Every clause below is published by Adam Capitals itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: AdamFxCapitals Ltd

marketing contradictionsole discretionabusive tradingaccount restrictionscomplaintscopy tradingcost disclosurecountry restrictiondata sharingdeemed acceptance

Adam Capitals publishes three short web pages as its whole contract. There is no client agreement. The Trading Terms let it suspend your account and refuse any refund if it decides your trading was abusive. They set no deadline for paying a withdrawal. The signup form still accepts residents of the United States, Japan, Mauritius, the UAE and India, and the footer says it does not serve them. No licence, no regulator and no segregated client money appear in any of the three documents.

Back to Adam Capitals

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
3
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
14
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
3
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 14 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical3
Warning11
Notice0

section 40 of 42is where the deepest clause sits, 95% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

1 of these 2 figures comes from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical5In the contract. Jump to the clause this comes from.Signup form accepts residents the terms exclude183Account limit. Jump to the clause this comes from.Every trade must stay open past 183 seconds

What the documents say

14 clauses worth knowing about, worst first, each quoted from Adam Capitals's own files

01

The signup form lets you register from the United States, Japan, Mauritius, the UAE or India. The footer on every Adam Capitals page says it does not serve residents of those places. Five of the places it names are still on the menu.

Why this matters

If you live in one of those countries, Adam Capitals' own words say it does not serve you. The wording on the UAE and India can be read two ways, and nothing on the site resolves it. No document says what happens to your money if your residence turns out to be the problem.

Exhibit 1CriticalRarely seen5New

Regional restrictions: AdamFxCapitals Ltd brand does not provide services to residents of the USA, Japan,British Columbia, Mauritius, Quebec, FATF, UAE and India black listed countries.
Clause Regional restrictions in Trading Terms
Read from the broker's site on Open the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026The claim, on Homepage hero heading, repeated across the sliderThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of adamcapitals.com, taken on Oct 9, 2026What the contract says, clause Regional restrictionsVisit this page on the broker's siteDownload the full size image file

Buried at section 40 of 42 in the Trading Terms, 95% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC have to check where a client lives before opening an account, and may not take on clients outside the territory they are allowed to serve. Adam Capitals puts the exclusion in a footnote and accepts the same countries on its form.

Adam Capitals is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingThe exclusion is published only as a footnote, and the account opening form does not enforce it. That leaves your eligibility unresolved at the moment you deposit.

  • Worse together with Exhibit 3If your country turns out to be the problem, no term says when or whether the money comes back.
02

Adam Capitals can suspend your account immediately and refuse any refund if it decides your trading was abusive. The terms name bonus hedging, abusive scalping and arbitrage, then add trading that is "not in the right manner". Adam Capitals decides, using its own tracking tool, and you get no appeal.

Why this matters

Nothing in the clause limits what Adam Capitals keeps to the profit it objected to, so your deposit is not carved out. You get no stated appeal, and the terms no longer list what counts as abusive.

Exhibit 2CriticalRarely seen

The company does not allow different types of trading such as Bonus Hedging, Abusive scalping, arbitrage and other such trading which are not in the right manner.
Clause Trader must follow the trading terms as given below in Trading Terms
Read from the broker's site on Open the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026Suspension and no refund for trading it calls abusive (clause Trader must follow the trading terms as given below)Visit this page on the broker's siteDownload the full size image file

Buried at section 31 of 42 in the Trading Terms, 74% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must hold retail client money apart from their own and return it on request. Adam Capitals promises no segregation anywhere, and this clause lets it refuse a refund after it suspends you.

Adam Capitals is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingThe usual form of this clause voids the profit from the activity it names. This one refuses any refund, sets no ceiling, and rests on a test the firm writes itself: trading "not in the right manner".

  • Worse together with Exhibit 4The holding time rule gives Adam Capitals a bright line to call your trading abusive, and this clause is the penalty.
03

Adam Capitals sets no deadline for paying a withdrawal. You request it through the client portal, and the money goes back to the source you funded from "where possible". Nothing says when it has to arrive, or on what grounds it can be refused.

Why this matters

A payout that never arrives breaks no term here, because no term fixes a date. The homepage promises instant withdrawals and access to your funds anytime, which is a promise the contract does not make.

Exhibit 3CriticalHarder than usual

Withdrawals must be requested through the client portal and will be processed to the original funding source where possible.
Clause Deposits & Withdrawals in Trading Terms
Read from the broker's site on Open the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026The claim, on "Instant Deposits & Withdrawals" card on the homepageVisit this page on the broker's siteDownload the full size image file
Our own capture of adamcapitals.com, taken on Oct 9, 2026What the contract says, clause Deposits & WithdrawalsVisit this page on the broker's siteDownload the full size image file

Where it sits: section 8 of 42 in the Trading Terms, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must keep retail client money in separate accounts and pay it out promptly when a client asks. Adam Capitals' terms name no timescale and no grounds for refusal.

Adam Capitals is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 2No payout deadline on one side, no refund after a suspension on the other, and the same firm decides both.
04

Adam Capitals requires every trade to stay open for more than 183 seconds. The rule sits in the list of trading terms you must follow, and the same list ends with immediate suspension and no refund.

Why this matters

Closing a position inside 3 minutes puts you outside the terms, even if the market moved your way in seconds. Nothing in the terms makes an exception for news, a stop loss or a fast market.

Exhibit 4WarningRarely seen183

The trades should be open for more than 183 seconds.
Clause Trader must follow the trading terms as given below in Trading Terms
Read from the broker's site on Open the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026Every trade must stay open past 183 seconds (clause Trader must follow the trading terms as given below)Visit this page on the broker's siteDownload the full size image file

Buried at section 28 of 42 in the Trading Terms, 67% of the way through.

What it costs183 seconds is 3 minutes and 3 seconds. Every trade has to be held longer than that.

Our readingA minimum holding time is not a usual retail term, and this one is oddly exact. The terms give no reason for the figure and no consequence of its own, so the only stated enforcement is the abusive trading clause.

05

You contract with a company that the documents spell three different ways. The Trading Terms say "Adam Capitals Ltd.", the Privacy Policy says "Adam FX Capitals LTD", the footer says "AdamFxCapitals Ltd" and calls it a brand. None of the three names a regulator or a licence.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

A claim starts with knowing who you are claiming against. The documents give no company number, and the registration number the site showed in 2025 is no longer there. No document says your money is held in a separate account.

Exhibit 5WarningRarely seen

At Adam Capitals Ltd., we believe in maintaining transparency with all our clients.
Clause Trading Terms in Trading Terms
Read from the broker's site on Open the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026Three company names, no licence, no segregation (clause Trading Terms)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 3 of 42 in the Trading Terms, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must publish the full legal name of the company a client contracts with, its registration details and its regulatory status. They must also hold client money in separate accounts. Adam Capitals' documents give three spellings, no licence number and no segregation promise.

Adam Capitals is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingThree spellings of the counterparty across three documents is unusual. The name matters because it is the thing a client would have to sue, and the contract does not settle it.

  • Worse together with Exhibit 6An unnamed law and an unsettled company name leave a client with neither a forum nor a defendant.

The signup form accepts the countries the footer excludes

Five of the places Adam Capitals says it does not serve are on its own signup menu: the United States, Japan, Mauritius, the UAE and India. The exclusion sits in a footnote at the bottom of every page, and the UAE and India joined it after April 2026. The same homepage sells copy trading with no copy trading terms, and calls your investments safe.

Who gets in2 clauses flagged

The homepage sells copy trading, where you follow another trader's positions automatically. No copy trading terms are published, and the Trading Terms put every trade on you, including the holding time rule and the hedging bans.

Why this matters

A strategy you copied can breach the 183 second rule without you touching it, and the penalty clause does not ask who clicked. Adam Capitals says all trading decisions stay your responsibility.

Exhibit 12WarningHarder than usual

Adam Capitals provides educational resources, but all trading decisions remain the sole responsibility of the client.
Clause Risk Acknowledgement in Trading Terms
Read from the broker's site on Open the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026The claim, on "Copy Trading" card on the homepageVisit this page on the broker's siteDownload the full size image file
Our own capture of adamcapitals.com, taken on Oct 9, 2026What the contract says, clause Risk AcknowledgementVisit this page on the broker's siteDownload the full size image file

Where it sits: section 16 of 42 in the Trading Terms, 38% of the way through.

The homepage says your investments are safe with Adam Capitals. The Risk Disclaimer says the company is not liable for any loss from your trading, and no document promises your money is held separately.

Why this matters

Nothing you read on the way in tells you where your deposit sits or who holds it. The documents name no bank, no segregated account and no compensation scheme.

Exhibit 13WarningHarder than usual

By accessing and using our services, you confirm that you have read, understood, and agreed to this Risk Disclaimer.
Clause Final Statement in Risk Disclaimer
Read from the broker's site on Archived copyOpen the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026The claim, on "Reliable Broker" card on the homepageVisit this page on the broker's siteDownload the full size image file
Our own capture of adamcapitals.com, taken on Oct 9, 2026What the contract says, clause Final StatementVisit this page on the broker's siteDownload the full size image file

Buried at section 21 of 25 in the Risk Disclaimer, 84% of the way through.

  • Same clause as Exhibit 7Both rest on the Risk Disclaimer's closing paragraph, one for the promise it breaks and one for the route it closes.

No fee schedule, and unnamed third party charges on your money

Adam Capitals commits to charging no internal fee on deposits or withdrawals, which is more than many offshore brokers put in writing. It then passes on bank and payment provider fees without naming an amount. The only published cost of trading is a minimum spread per tier: 2.0, 1.5 and 0.8 pips.

Cost disclosure1 clause flagged

Adam Capitals charges no internal fee on deposits or withdrawals, and says bank and payment provider fees may apply instead. It never says how much, and the site publishes no fee schedule and no list of payment methods.

Why this matters

The cost of funding your account is whatever a third party takes, and no page here tells you the amount. The terms name no swap, overnight or currency conversion charge either.

Exhibit 8WarningStandard wording

Adam Capitals does not charge internal fees for deposits or withdrawals, but third-party fees (banks, payment providers) may apply
Clause Deposits & Withdrawals in Trading Terms
Read from the broker's site on Open the reference
Our own capture of adamcapitals.com, taken on Oct 9, 2026The claim, on "Our promise" panel on the About Us pageVisit this page on the broker's siteDownload the full size image file
Our own capture of adamcapitals.com, taken on Oct 9, 2026What the contract says, clause Deposits & WithdrawalsVisit this page on the broker's siteDownload the full size image file

Where it sits: section 9 of 42 in the Trading Terms, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC have to show a retail client the costs and charges of a trade before it is placed. Adam Capitals publishes a minimum spread per account tier and nothing else.

Adam Capitals is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Rules you can break without ever seeing the number

Every trade at Adam Capitals must stay open longer than 183 seconds. Positions can be closed when margin falls below a percentage the terms never state, and that requirement can change. Trading counts as your agreement to the terms, and the account opening form shows you none of them.

Trading rules2 clauses flagged

Adam Capitals treats your trading as agreement to the Trading Terms. Continued use of the site counts as acceptance of a revised Privacy Policy. The account opening form shows you neither document and asks you to tick nothing.

Why this matters

You can be bound by a change you never saw. The Privacy Policy promises a "Last Updated" date that the page does not carry, and it still asks itself which age limit to use.

Exhibit 11WarningHarder than usual

Your continued use of our Site after such changes means you accept the revised Privacy Policy.
Clause 10 in Privacy Policy
Read from the broker's site on Archived copyOpen the reference

Buried at section 45 of 49 in the Privacy Policy, 92% of the way through.

Adam Capitals can close your open positions when margin falls below "the required percentage", a figure the terms never state. The same section says margin requirements may vary by instrument and by market conditions.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

You cannot work out in advance how far a trade can move before Adam Capitals closes it. The terms warn you may lose more than your deposit, and nothing promises negative balance protection, which would stop your account going below zero.

Exhibit 14WarningHarder than usual

If margin levels fall below the required percentage, open positions may be liquidated automatically.
Clause Margin & Stop-Out Policy in Trading Terms
Read from the broker's site on Open the reference

Where it sits: section 18 of 42 in the Trading Terms, 43% of the way through.

Set against a regulated standard: FCA (UK), ESMA (EU), CySEC (Cyprus)

Firms licensed by the FCA, or working under ESMA rules, must close a retail CFD position at a published margin level and must not let a retail client lose more than the money in the account. Adam Capitals states no level and no such limit.

Adam Capitals is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

No complaints procedure, and liability disclaimed for any loss

Adam Capitals publishes no complaints procedure, no deadline for an answer and no independent scheme. The Risk Disclaimer says the company is not liable for any direct or indirect loss from your trading activities. What is left is an email address and a contact form.

If it goes wrong1 clause flagged

The Risk Disclaimer says Adam Capitals is not liable for any direct or indirect loss from your trading activities. No complaints procedure is published: no deadline, no escalation and no outside scheme to go to.

Why this matters

A disputed trade leaves you with an email address and a contact form. The documents name no ombudsman, no regulator and no time limit for the company to answer you.

Exhibit 7WarningHarder than usual

Adam Capitals shall not be held liable for any direct or indirect losses, damages, or expenses incurred as a result of your trading activities.
Clause Final Statement in Risk Disclaimer
Read from the broker's site on Archived copyOpen the reference

Buried at section 21 of 25 in the Risk Disclaimer, 84% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must run a written complaints procedure and tell retail clients about a free, independent ombudsman. Adam Capitals' documents name neither.

Adam Capitals is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The governing law clause names no country and no court

Adam Capitals' Governing Law section points to the laws of "the jurisdiction in which Adam Capitals operates" and never names it. No court is named either. The only location in the documents is a Saint Lucia address, which is not a choice of law.

Where you would sue1 clause flagged

The Governing Law section points to the laws of "the jurisdiction in which Adam Capitals operates". It never says which one. No court is named either.

Why this matters

You cannot tell before you deposit which law decides a dispute, or which court would hear it. The address in the documents is in Saint Lucia, and that is not a choice of law.

Exhibit 6WarningRarely seen

These terms are governed by the applicable laws and regulations of the jurisdiction in which Adam Capitals operates.
Clause Governing Law in Trading Terms
Read from the broker's site on Open the reference

Where it sits: section 24 of 42 in the Trading Terms, 57% of the way through.

Our readingA governing law clause normally names a country and a court. This one names a condition instead, so the forum is whatever the firm's own operations make it on the day.

  • Worse together with Exhibit 7No named law and no complaints procedure leave nowhere to take a dispute except the company's own inbox.

Verification before trading, with no deadline and no document list

Adam Capitals requires KYC identity checks before you trade and can reject any application without giving a reason. The documents never list the papers it can demand or how long a review takes. The Privacy Policy lets it share your data with unnamed affiliates and send it to countries it does not name.

Verification1 clause flagged

You must pass verification before you can trade, and Adam Capitals can reject any application without giving a reason. The documents never list which papers it can demand, how long a review takes, or how long your data is kept.

Why this matters

Verification stands between you and your first trade, and no term puts a clock on it. The Privacy Policy also lets Adam Capitals share your data with unnamed affiliates and send it to countries it does not name.

Exhibit 10WarningStandard wording

All clients must complete the registration and verification (KYC) process before trading.
Clause Account Opening in Trading Terms
Read from the broker's site on Open the reference

Where it sits: section 4 of 42 in the Trading Terms, near the start.

One month without a trade and the account can be called inactive

Adam Capitals can classify your account as inactive after 1 month with no trading. The terms then say nothing: no fee, no notice, no effect on the balance. A trigger this short with no stated consequence leaves you nothing to plan around.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

Stop trading for 1 month and Adam Capitals can class your account as inactive. The terms stop there: they do not say what that costs you, what notice you get, or what happens to the balance.

Why this matters

One quiet month is all it takes. The terms do not say whether a fee starts, whether you are warned, or whether the money stays yours.

Exhibit 9WarningHarder than usual

Accounts with no trading activity for 1 months may be classified as inactive.
Clause Inactivity & Dormant Accounts in Trading Terms
Read from the broker's site on Open the reference

Where it sits: section 23 of 42 in the Trading Terms, 55% of the way through.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The homepage sells trading to anyone anywhere while the footer of the same page excludes residents of eight named places.

Said in public, in English

Trading for Anyone. Anywhere. Anytime.

Homepage hero heading, repeated across the slider

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

In the contract · clause Regional restrictions

Regional restrictions: AdamFxCapitals Ltd brand does not provide services to residents of the USA, Japan,British Columbia, Mauritius, Quebec, FATF, UAE and India black listed countries.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

02

The About Us page says Adam Capitals serves clients globally, and the restriction on the same site names countries it will not serve.

Said in public, in English

We serve clients globally, with thousands of users who trust us for performance, reliability, and integrity.

"Where we operate" panel on the About Us page

In the contract · clause Regional restrictions

Regional restrictions: AdamFxCapitals Ltd brand does not provide services to residents of the USA, Japan,British Columbia, Mauritius, Quebec, FATF, UAE and India black listed countries.

03

The homepage promises instant withdrawals and access anytime, while the terms fix no date and qualify the method with "where possible".

Said in public, in English

Experience seamless trading with instant deposit and withdrawal options. Access your funds anytime without delays or interruptions.

"Instant Deposits & Withdrawals" card on the homepage

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

In the contract · clause Deposits & Withdrawals

Withdrawals must be requested through the client portal and will be processed to the original funding source where possible.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

04

The About Us page promises no hidden fees while the terms pass on bank and payment provider charges it does not name or quantify.

Said in public, in English

Transparent pricing, with no hidden fees.

"Our promise" panel on the About Us page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

In the contract · clause Deposits & Withdrawals

Adam Capitals does not charge internal fees for deposits or withdrawals, but third-party fees (banks, payment providers) may apply

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

05

The homepage sells copying another trader's positions while the terms make every trade the client's own decision, with no copy trading document in between.

Said in public, in English

Follow and replicate the strategies of expert traders effortlessly. Grow your portfolio while learning from the best in real-time.

"Copy Trading" card on the homepage

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

In the contract · clause Risk Acknowledgement

Adam Capitals provides educational resources, but all trading decisions remain the sole responsibility of the client.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

06

The homepage calls your investments safe, and the Risk Disclaimer disclaims liability for any loss while no document mentions segregated client money.

Said in public, in English

ADAM Capitals is a trusted and reliable broker committed to transparency and security. Trade confidently knowing your investments are safe.

"Reliable Broker" card on the homepage

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

In the contract · clause Final Statement

Adam Capitals shall not be held liable for any direct or indirect losses, damages, or expenses incurred as a result of your trading activities.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of adamcapitals.com

What changed quietly

First review of Adam Capitals, so no earlier review exists for comparison.

  • REWRITTENClause Regional restrictions · 13 April 2026 archived copy to 9 October 2026 live page

    The UAE and India were added to the restricted list after 13 April 2026, and the signup form still offers both.

    Regional restrictions: AdamFxCapitals Ltd brand does not provide services to residents of the USA, Japan,British Columbia, Mauritius, Quebec, FATF, UAE and India black listed countries.

  • REMOVEDClause Trading Terms · 13 August 2025 archived copy to 9 October 2026 live page

    The list that defined abusive trading, and the warning covering anyone using the same IP address, are no longer published, while the penalty stayed.

  • REMOVEDClause · 13 August 2025 archived copy to 9 October 2026 live page

    The registration number the site displayed in 2025 does not appear anywhere on today's pages.

The documents this reading is based on

3 files, all published by Adam Capitals. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording Adam Capitals publishes.

How this reading was done

Every clause above was read out of a document Adam Capitals publishes itself

This reading was published on .

Documents
3 of 3downloaded from the broker's site of the 4 we found, and 3 read in full
Pages opened
70pages walked to find those documents, footer links included
Older copies
6earlier versions downloaded
Marketing pages
9public pages set against what the contract says
Position measured
14clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

AdamFxCapitals Ltd

The Trading Terms open "At Adam Capitals Ltd." The Privacy Policy gives its contact as "Adam FX Capitals LTD". The footer of all three documents says "Copyright © 2025 AdamFxCapitals Ltd" and describes it as a brand. All three give the same address in Gros-Islet, Saint Lucia. None names a regulator, a licence number or a company number, and none says client money sits in a separate account. The registration number the site displayed in 2025, Reg. Number: 2024-00146, is not on today's pages.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

The Trading Terms say that Adam Capitals charges no internal fee on deposits or withdrawals. The Risk Disclaimer is blunt where many are vague. It tells you that you may lose more than your initial investment and that you should take independent advice. The 1:500 leverage cap is the same figure on the Account Types page and in the terms. All three documents are public, short and in plain English, with no login and no PDF to open.

The Trading Terms, the Risk Disclaimer and the Privacy Policy are the whole contract. The review covers all three in full from Adam Capitals' own site, and no client agreement exists. A fourth address, adamcapitals.co/index, is not a document: that domain redirects to the main site and the page does not exist. The account opening form shows no terms to accept and links to none. Any separate agreement inside the client portal is not covered. Earlier wording comes from public archive copies of Adam Capitals' own pages, dated 16 November 2025 and 13 April 2026. For the Terms and Conditions page the company has since removed, the copy is dated 13 August 2025. The site publishes in English only, so there was no second language version of the marketing to set against the terms.

How to check any of this yourself

Every quote above links to the Adam Capitals file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document Adam Capitals publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge Adam Capitals on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 9, 2026.

If you represent Adam Capitals and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on Adam Capitals. Whether its licence is real and current is a separate check on the broker profile.

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