Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
9/10 · CriticalNo licence from any authority anywhere while taking retail deposits at 1:500 leverage. Mitigating: it fabricates no licence, impersonates no one and carries no warning-list entry, which is why this is 9 and not 10.
Identity & transparency
7/10 · HighEntity, two addresses, phone and email are published and a Saint Lucia IBC of that name exists, but the only fully documented entity is a dormant UK shell dissolved on 1 September 2026, the name appears in three variants across its own pages, and ownership of the live entity is undisclosed.
Withdrawals & conduct
4/10 · ModerateNo verified fund-integrity complaint on any platform and no advance-fee demand found. Not lower because the footprint is too thin to call clean and the terms allow immediate suspension with no refund for what the company judges to be abusive trading.
Reputation
7/10 · HighThirteen Trustpilot reviews in five years against a claim of 5,500 customers, 84 percent five star with an empty middle, single-review accounts from one country in two bursts, and no presence on Reddit or ForexPeaceArmy. Planted pattern rather than an organic record, but no multi-platform complaint pattern either.
Website claims
6/10 · HighHonest age claim and no false licence claim, both credited. Against that: a restricted-countries list its own signup form ignores, a Regulations FAQ section it points to but does not have, placeholder quotes shown as live market data, and reliable broker and safe investments language from an unsupervised firm.
Operational history
3/10 · LowAround five years verified from two independent records, the domain from 16 June 2021 and a company from 28 June 2021, matching the broker's own since-2021 claim. Slight uplift because the operating vehicle changed and the current contracting entity could not be dated.
Who they are
A quick desk file on the company behind the brand.
- Brand: Adam Capitals
- Legal entity: AdamFxCapitals Ltd. The site also writes it as Adam Capitals Ltd. in its trading terms and Adam FX Capitals LTD in its privacy policy, three variants of its own name across three pages.
- Registered: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. A second office is given as Office No. 8, 17 Mount du Cap Drive, Cap Estate, Gros Islet.
- Website: adamcapitals.com, with adamcapitals.co redirecting to it and client logins at member.adamcapitals.com
- Only licence: none. No authority is named anywhere on the site, and no licence for this firm was found on any register.
- Offers: forex, indices, commodities, metals, energies and share CFDs on MetaTrader 5, leverage up to 1:500, accounts from a 10 dollar minimum deposit
- Not accepted: the footer excludes residents of the USA, Japan, British Columbia, Mauritius, Quebec, the UAE and blacklisted countries. The signup form nonetheless offers every one of those countries.
- Age claim: operating since 2021, which the records support. The about page separately claims over 6 years of experience in the financial industry.
- Control: the directors of the UK company of this name are Indian nationals resident in the United Arab Emirates, with correspondence at a well known London mass-registration address.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
No licence claims on record.
Why we reached this verdict
How the evidence adds up.
High risk, unverified. The central fact is an absence: there is no regulator to check, and that is the broker's own position rather than something it hides.
- No licence, anywhere, while taking deposits. The site has a homepage, about page, account page, platform page, trading terms, risk disclaimer and privacy policy. The words licence, authorised, supervised, segregated and compensation do not appear on the site. A firm that takes retail money and offers 1:500 leverage with no supervisor leaves a client with no regulator to complain to and no compensation scheme if the money goes missing.
- Saint Lucia is a registration, not regulation. A company called AdamFxCapitals LTD. does appear on Saint Lucia's own register of International Business Companies, so the entity is real. But Saint Lucia does not license or supervise forex brokers, so being incorporated there says nothing about how client funds are handled. Readers who see a Caribbean address and assume oversight should know there is none.
- The only entity we could fully document is a dissolved shell. ADAMFXCAPITALS LTD, UK company 13480666, was incorporated on 28 June 2021, twelve days after adamcapitals.com was registered, under investment and brokerage activity codes. It filed dormant accounts for the year to 30 June 2023, meaning it declared no trading at all. Companies House replaced its registered office with the default Cardiff address in August 2025, and it was dissolved on 1 September 2026. The live site still names that brand in its risk warning and copyright line.
- Its own statements contradict each other. The footer lists countries it does not serve. The registration form offers all 239 countries including every excluded one. The footer points readers to a Regulations section of the FAQs that does not exist. The homepage ticker presents a single instrument with six values repeating, at levels that do not correspond to where that index trades, displayed as live market data.
- The reviews are not evidence of a happy client base. Thirteen Trustpilot reviews across five years for a firm whose own profile claims more than 5,500 customers. The distribution is 84 percent five star and 8 percent one star with nothing in between, twelve of thirteen reviewers have exactly one lifetime review, all are from India, and they arrive in two bursts, five on 24 December 2025 and seven between 27 and 29 March 2026. Several praise fast withdrawals in near identical terms. That is a reputation-management pattern, and it is not exculpatory.
Why not worse. We deliberately stopped short of calling this a probable scam, and the reasons are substantive. No regulator anywhere has warned about it in more than five years of trading, which is unusual for a boiler room. We found no credible report of a refused withdrawal with an amount, a date or a ticket number on any platform, and no demand for an extra payment to release funds. It runs its own named MetaTrader 5 server with MetaQuotes-hosted installers, so a real trading operation exists rather than a fabricated screen. Its age claim is honest. It does not impersonate anyone and it does not quote a licence number belonging to another firm. The 2021-era pages that call it a scam are automatically generated review-aggregator content with no amounts, dates or account details, and one of those sites is now a parked domain, so they do not meet the bar for evidence.
Why not better. The percentage rests on what cannot be checked rather than on misconduct we proved. With no supervisor, a dissolved paper company, a stated home jurisdiction whose register publishes no status or dates, and a review base that looks bought, there is no independent check on how client money is held. For that reason WIKILIX rates the fraud risk as elevated, but fraud is not established.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The broker names no regulator and no licence number anywhere on its site. The words licence, authorised, supervised, segregated and compensation do not appear on its pages, and the only use of the word regulation is a footer pointer to a Regulations section of the FAQs that does not exist. It takes retail deposits from 10 dollars at up to 1:500 leverage with no supervisor.
E2ADAMFXCAPITALS LTD, UK company 13480666, was incorporated on 28 June 2021 and dissolved on 1 September 2026, with its registered office replaced by the Companies House default address in Cardiff. The live website still names AdamFxCapitals Ltd in its risk warning and copyright line and still opens accounts.
E3The same UK company filed accounts for a dormant company for the year to 30 June 2023, meaning it declared no trading activity in the period when the brand was live. The filing history also records a compulsory strike-off notice in May 2024, the company's own strike-off application in September 2024, the loss of its registered office in August 2025 and the final dissolution notice on 1 September 2026.
E4The directors of that company are recorded as Indian nationals resident in the United Arab Emirates, with correspondence addresses at 71-75 Shelton Street, Covent Garden, London, one of the most heavily used mass-registration addresses in the United Kingdom. Prem Singh was the last serving director, appointed 19 June 2024.
ModerateUK Companies House, officersE5A company named AdamFxCapitals LTD. is recorded as an IBC on Saint Lucia's own register of International Business Companies, confirming the entity the broker names does exist in its stated home jurisdiction. Saint Lucia issues no forex or CFD licence, so this is corporate existence and not financial regulation. Status and incorporation date are not published without payment.
E6A keyword search of the IOSCO global alert network, which aggregates the warning and alert lists of more than 150 regulators, returns no entry for adamcapitals, and a broader search on the word adam returns only unrelated firms such as Adamant FX, Adam and Company and The Adam Group. No regulator has published a warning about this brand, entity or domain as at 9 October 2026.
E7The FCA Financial Services Register returns no results for adamcapitals, confirming there is no UK authorisation and no FCA record under this name. The broker makes no UK claim, so this is consistent with its own position rather than a contradiction of it.
E8The domain adamcapitals.com was registered on 16 June 2021 through GoDaddy and is held to 2028. Taken with the 28 June 2021 incorporation of the company of the same name, this gives a verifiable operating history of about five years and supports rather than contradicts the broker's own statement that it has run since 2021.
E9Trustpilot shows 13 reviews at 4.2 for adamcapitals.com, distributed 84 percent five star, 8 percent four star and 8 percent one star with nothing in between. Twelve of the thirteen reviewers hold exactly one lifetime review, all are located in India, and the posts arrive in two bursts, five on 24 December 2025 and seven between 27 and 29 March 2026, with short generic praise several of which names fast withdrawals. The company claimed the profile in August 2025 and the page notes it has not replied to negative reviews. The sole negative review is a four-word allegation that the site is fake, with no transactional detail.
E10The account registration form offers a country list of 239 entries that includes the United States, the United Arab Emirates, India, Japan, Canada and Mauritius, every one of which the broker's own footer says it does not serve. The form itself asks only for an email address, a name, a password and a country, and does not make a telephone number mandatory or promise a personal account manager.
E11The broker publishes MetaQuotes-hosted MetaTrader 5 installers for a server named AdamFxCapitals-Server, covering desktop, iOS and Android. A dedicated MetaTrader server operating under the firm's own name indicates a genuine trading operation rather than a fabricated in-house price screen.
E12The broker names itself differently on three of its own pages: AdamFxCapitals Ltd on the homepage and about page, Adam Capitals Ltd. in the trading terms, and Adam FX Capitals LTD in the privacy policy. The trading terms also state that the governing law is that of the jurisdiction in which Adam Capitals operates without naming it, and allow immediate account suspension with no refund where the company judges trading to be abusive.
ModerateAdam Capitals trading termsE13The homepage carries a market ticker presented as live pricing that repeats a single instrument, US30, through the same six values in a loop, at levels that do not correspond to where that index trades. It is placeholder data displayed to visitors as live quotes.
E14A complaint sweep across Trustpilot, Reddit, ForexPeaceArmy and a third-party broker directory's user-feedback section found no specific, checkable account of money not being returned: no amounts, no dates, no ticket numbers and no demand for an extra payment to release funds. Pages from September 2021 that describe withdrawal blocking are automatically generated review-aggregator content with no transactional detail, and one of those sites is now a parked domain.
E15The broker's own Trustpilot company description states that it has been empowering traders since 2021 and serves more than 5,500 customers worldwide, which sits awkwardly against a total of 13 reviews and no discussion footprint on Reddit or ForexPeaceArmy after five years of trading.
The other side
The strongest case in this broker’s favour.
The fairest case for Adam Capitals is stronger than its score suggests, and it deserves to be stated.
- It has a real, verifiable five-year history. The domain was registered on 16 June 2021, a company of the same name was incorporated on 28 June 2021, and independent sites were writing about the brand by September 2021. Its own claim to have operated since 2021 is accurate. Most pure scams do not last five years.
- Nothing it says about regulation is false. It claims no licence, invents no licence number, borrows nobody else's and displays no regulator badge. That matters: the most common serious offence in this sector is pretending to be supervised, and this broker does not commit it.
- No regulator has acted against it. Searching the global alert network that aggregates more than 150 regulators' warning lists, and the FCA register, returned nothing for the brand, the entity or the domain. Several similarly named but unrelated firms appear there; this one does not.
- The trading infrastructure is real. It operates a named MetaTrader 5 server, AdamFxCapitals-Server, with MetaQuotes-hosted desktop and mobile installers, and an independent source measured that server live. This is not a fabricated in-house price screen.
- No fund-integrity pattern exists. Across Trustpilot, Reddit, ForexPeaceArmy and a third-party broker directory's feedback section we found no specific, checkable account of money not coming back. The single negative review is a four-word allegation with no detail.
- Basic transparency is present. It publishes a legal entity, two addresses, a Saint Lucia telephone number, an email address, a risk warning and a restricted-countries list. Signup asks for an email, a name and a country, and does not force a phone number or push a personal account manager, which is the opposite of the boiler-room funnel.
- The corporate picture has an innocent reading. A small operator incorporating a UK company in 2021, leaving it dormant because the business was never run through it, then closing it voluntarily and operating through a Saint Lucia IBC instead, is ordinary offshore housekeeping rather than concealment. Saint Lucia offers no licence to obtain, so there is nothing for this broker to have failed to get.
What would change this
What we would need to see to revise the verdict.
This verdict is built to be overturned by evidence, in either direction. Concretely:
- Towards lower risk: a licence for this entity on the public register of a real supervisor, with the number, the entity name and adamcapitals.com all matching, would move the verdict towards appears legitimate. Even a low-tier offshore licence we could confirm in force would reduce the regulation score.
- Towards lower risk: publication of the Saint Lucia IBC's incorporation date, current status and directors, plus audited rather than dormant accounts for the entity that actually holds client money, would let us verify the corporate structure instead of inferring it.
- Towards lower risk: an organic review base. Reviews spread over time, from accounts with other review history, including resolved complaints the company answered, would replace the planted pattern we see now. Independently documented withdrawals paid in full would do the same.
- Towards higher risk: a warning-list entry naming adamcapitals.com from any regulator would be decisive and would move this to probable scam on its own.
- Towards higher risk: three or more specific accounts of refused or stalled withdrawals, with amounts and dates, across two or more platforms. One credible demand for a tax, fee or unlock payment before funds are released would be enough by itself.
- Towards higher risk: evidence that the dissolved UK company, rather than a live Saint Lucia entity, is still the party contracting with clients, or that client money is being received by a dissolved company.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
UK Companies House: ADAMFXCAPITALS LTD (13480666)
The UK company of this name, incorporated June 2021 and dissolved 1 September 2026.
UK Companies House: filing history
Shows the dormant accounts, the removal of the registered office and the dissolution notice.
Saint Lucia Registry of International Business Companies
Free name search for the island's IBCs. Search AdamFxCapitals to see the entry, which is a registration and not a trading licence.
IOSCO global alert network search
Aggregates the warning lists of more than 150 regulators. No entry for this broker.
FCA Financial Services Register search
No UK authorisation and no FCA record for this name.
Trustpilot reviews for adamcapitals.com
The broker's own review page. Read the dates and the reviewer histories, not just the score.
Adam Capitals website
The broker's own site. No regulator or licence number appears on any page.
Frequently asked questions
Quick answers about this broker’s safety.
Is Adam Capitals a scam?
We did not find proof that Adam Capitals is a scam. We also found no regulator anywhere that supervises it, no audited company behind it and a review base that looks planted, so we rate it 65 percent high risk. The honest summary is that too little can be independently verified about how your money would be held to treat it as safe.
Is Adam Capitals a fraud?
No regulator or court has found Adam Capitals to have committed fraud, and we found no enforcement action and no fraud-related court record naming the company or the domain. We assess the risk of fraud as elevated because the firm is unlicensed and its corporate structure is thin, but that is our assessment of risk, not a finding of criminal conduct.
Is Adam Capitals regulated?
No. The site names no regulator and no licence number on any page, including its trading terms, risk disclaimer and privacy policy. No register lists a licence for this firm. It is an unregulated broker, and it does not claim otherwise.
Adam Capitals says it is based in Saint Lucia. Does that mean it is regulated there?
No. Saint Lucia does not license or supervise forex and CFD brokers. A company called AdamFxCapitals LTD. does appear on the island's register of International Business Companies, which confirms the company exists, but an IBC registration is a company formation document. It imposes no capital requirement, no client-money rules and no supervision.
Can I withdraw my money from Adam Capitals?
We found no specific, checkable report of a refused or stalled withdrawal on any platform, and several reviews praise fast withdrawals, though those reviews show a planted pattern. Because no regulator oversees the firm, there is no authority to force a payout if one is refused. If you hold a balance, request a full withdrawal now and keep records of every step.
Is my money safe with Adam Capitals?
There is no protection. The site makes no claim that client funds are held in segregated accounts and names no compensation or investor-protection scheme, and with no licence there is no regulator imposing either. If the firm failed or stopped paying, there would be no fund to draw on and no supervisor to complain to.
Who owns Adam Capitals?
Ownership is not disclosed on the website. The UK company of the same name, which was dissolved on 1 September 2026, listed Prem Singh as director and person with significant control, with Ajit Singh Rathod and Ram Singh as earlier directors and Dinesh Rathore as a former controlling party. All were recorded as Indian nationals resident in the United Arab Emirates. Who controls the Saint Lucia company is not published.
How old is Adam Capitals?
About five years. The domain adamcapitals.com was registered on 16 June 2021 and a company of the same name was incorporated on 28 June 2021, which matches the broker's own statement that it has operated since 2021. That part of its story checks out. The about page also claims over 6 years of experience in the financial industry, which is slightly more than the firm's own history supports.
Is Adam Capitals a clone of another broker?
No. We found no sign that it copies another company's name, licence number, registration number or address. It does not quote any licence, so there is no borrowed credential to trace. The brand appears to be its own.
Has any regulator warned about Adam Capitals?
No. As of 9 October 2026, the IOSCO global alert network, which aggregates the warning lists of more than 150 regulators, and the FCA register had no entry for the brand, the company name or the domain. Warning lists lag new operations by months, so this does not prove safety, but after five years of trading the absence counts for something.
Why are the Trustpilot reviews so positive?
Look closely at them. There are 13 reviews across five years for a firm whose own profile claims more than 5,500 customers. Eighty-four percent are five star and eight percent are one star with nothing in between, twelve of the thirteen reviewers have exactly one lifetime review, all are from one country, and they were posted in two bursts in December 2025 and March 2026. That is the signature of bought reviews, and it is not evidence that the broker is sound.
Adam Capitals says it does not serve my country. Why can I still sign up?
That is a real contradiction on its own site. The footer says the brand does not provide services to residents of the USA, Japan, British Columbia, Mauritius, Quebec, the UAE and blacklisted countries, but the registration form offers all 239 countries, including every one of those. Signing up from an excluded country is a poor position to be in if a dispute arises, because the broker can point to its own restriction.
What should I check before depositing with any broker?
Find the licence number on the broker's site, type it into the regulator's own public register, and confirm three things match: the entity name, the licence status, and the website the register lists. If the broker names no regulator, there is nothing to check, which is the position here. Also look at review dates and reviewer histories rather than the headline score.
What do I do if I have already lost money to an unregulated broker?
Act quickly. Request a full withdrawal in writing and keep every screenshot and date. Contact your bank or card issuer about a chargeback or recall, because those windows close, often within 120 to 180 days. Report it to the police or financial-crime unit in your country. Pay nothing to anyone who offers to recover your funds for an upfront fee, as those offers are usually a second scam targeting the same victims.
Scan history
How this broker’s safety assessment has changed across scans.
What changed since August 12, 2026
One material change since the last assessment in August 2026.
- The UK company of this name was dissolved on 1 September 2026. ADAMFXCAPITALS LTD, company number 13480666, was struck off voluntarily and its final notice was gazetted on that date. It had filed dormant accounts and had its registered office replaced with the Companies House default address in August 2025. The website continues to name the brand and continues to open accounts.
- We have now located a corporate record in the stated home jurisdiction. A company called AdamFxCapitals LTD. appears on Saint Lucia's register of International Business Companies, confirming the entity exists there as a registration. Its status and incorporation date are not published without payment.
- The regulatory position is unchanged. Still no licence claimed on the site, still no licence found on any register, and still no warning-list entry from any regulator. The broker is not a clone.
- Domains: adamcapitals.co is confirmed to redirect to the main site, and client logins run at member.adamcapitals.com. The Instagram account remains the only social channel the broker publishes.
- October 9, 2026CurrentHigh risk (unverified)65% risk
- August 12, 2026High risk (unverified)61% risk
Past scans are archived snapshots kept for transparency and are not indexed by search engines.
What we recommend
The practical takeaway from everything above.
Treat this as an unregulated broker and act accordingly.
- Do not deposit money you cannot afford to lose outright. With no supervisor there is no complaints body, no ombudsman and no compensation scheme. If the money does not come back, there is no authority to escalate to.
- If you already hold a balance, withdraw it and document everything. Request a full withdrawal now rather than later, keep screenshots of the balance, the request and every reply, and keep the dates. Pay nothing extra to release your own funds. A demand for a tax, fee, insurance or verification payment before a withdrawal is released is the advance-fee pattern and the money paid is gone.
- Use the card or bank channel you funded from. A chargeback or bank recall is the only practical recovery route when a broker is unsupervised, and those windows close, often within 120 to 180 days.
- Check the claims yourself. The links here are the primary sources. The UK company record and the Saint Lucia register take under a minute each.
- Ignore anyone offering to recover your funds for an upfront fee. Victims of unregulated brokers are targeted again by recovery scams. No legitimate recovery service asks for payment in advance.
- If you want regulatory protection, choose a supervised broker. A firm whose licence number you can type into the register of the FCA, ASIC, CySEC or a comparable authority, and whose website is the one that register lists, gives you rights this one cannot.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 9, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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