Connexar Capital is a platform providing forex and indices CFD trading services. The domain was established on February 1, 2022, and the company is registered in the UK (registration number 13914199) as well as in Saint Vincent and the Grenadines as an International Business Company (registration number 26798 BC 2022). Although the company is registered in both the UK and Saint Vincent, its registration information could not be found in the Financial Services Authority of Saint Vincent. Furthermore, the UK's Financial Conduct Authority (FCA) has listed Connexar Capital on its warning list for illegally providing financial services, advising the public to avoid this platform.
Background of Connexar Capital:
The domain of Connexar Capital's platform was established on February 1, 2022. The platform claims to offer forex and indices CFD trading services, with the company registered in the UK under registration number 13914199 and in Saint Vincent and the Grenadines as an International Business Company, registration number 26798 BC 2022. However, its registration information could not be found in the Financial Services Authority of Saint Vincent. Connexar Capital's registered address in the UK is 128 City Road, London, United Kingdom, EC1V 2NX, and the registration date is February 14, 2022.
Regulatory Information of Connexar Capital:
The UK's Financial Conduct Authority (FCA) has listed Connexar Capital on its warning list for illegally providing financial services, advising the public to avoid this platform. The investigation results are as follows:
Account Registration Process at Connexar Capital:
- Visit the Connexar Capital website and click the registration button
- Fill in the application form
- Submit identity verification/documents
- Deposit funds and start trading
Account Types at Connexar Capital:
Connexar Capital claims to offer three types of trading accounts in addition to a demo account: Standard Account, Professional Account, and ECN Account. The minimum initial deposit for a Standard Account is $100, while the minimum initial funds for Professional and ECN Accounts are $500 and $1000, respectively.
Trading Software of Connexar Capital:
Connexar Capital provides the MT5 trading platform for Mac, Windows, iOS, and Android. MT5 supports advanced tools such as Expert Advisors, algorithmic trading, complex indicators, and strategy testers, with over 10,000 trading applications available in the MetaTrader Market. Additionally, trading on MT4 and MT5 can be done anytime, anywhere via iOS and Android devices.
Trading Products of Connexar Capital:
Connexar Capital claims to offer over 150 tradable instruments in the market, covering forex, indices, commodities, and cryptocurrencies.
Leverage and Commissions at Connexar Capital:
Leverage: Connexar Capital offers different maximum leverage ratios for different account types. Standard Account clients can enjoy leverage up to 1:400, Professional Account clients up to 1:300, and ECN Account clients up to 1:200. However, it is important to note that higher leverage increases the risk of losses, and it can result in gains or losses.
Spreads and Commissions: Connexar Capital claims that different account types enjoy different spreads. The spread for Standard Accounts starts from 1.9 pips, for Professional Accounts from 1.3 pips, and for ECN Accounts as low as 0.2 pips. Moreover, all account types are commission-free.
Deposit and Withdrawal Methods at Connexar Capital:
Connexar Capital accepts deposits and withdrawals via bank transfers, Skrill, Bitcoin, USDT, custodial services, and Visa. The minimum initial deposit requirement for Skrill, Bitcoin, and USDT is $25, while the minimum requirements for bank transfers, custodial services, and Visa are $100. The minimum withdrawal amount for USDT is $50, and there are no restrictions for other methods. Skrill, Bitcoin, USDT, and custodial services are free of charges, whereas bank transfers and Visa may incur some transaction fees. USDT deposits are instant, while other methods typically process within one business day.
Customer Support at Connexar Capital:
Email: contact@connexarcapital.com
Conclusion:
Connexar Capital has issues with false advertising of its registration information. Additionally, the UK's Financial Conduct Authority (FCA) has listed it on its warning list for illegally providing financial services. These issues significantly undermine the platform's credibility, and investors should approach trading with Connexar Capital cautiously to avoid potential financial risks. Connexar Capital is flagged as "Suspected Fraud" on TraderKnows.
