Conalp Review: Should I Risk Trading With Conalp.Com?
Conalp Capital Corporation from California, US seems to be the owning company of the Conalp website. This brokerage firm supposedly exists since 2011 and has been nothing short of success ever since.
By putting their clients before anything else, they have built their name as a trustworthy broker. Conalp likes to brag about some admirable educational resources and helpful customer support. Their offices are located in over 13 countries, including the UK, Poland, Germany, France, and Turkey.
The truth is considerably different. This broker is anonymous and most probably an unauthorized entity trying to offer financial services or bank transactions it isn’t allowed to.
|Company||Conalp Capital Corporation|
|Address||4628 W 166th St, Lawndale, California 90260, USA.|
Is Conalp a Reliable Broker? Regulation and Security
Naturally, the first thing to check about a broker is their regulation. Since the address of the company is mentioned to be California, we have first gone through the databases of two US regulators – CFTC and NFA.
Conalp can be found in neither. To even be considered for a license, US brokers have to meet some quite harsh standards.
The minimum capital when starting a brokerage business is $20 000 000. Client funds segregation is obligatory, in order to ensure the safety of funds and prevent the company from misusing the investments made by clients. Leverage restriction is set to 1:50 a bit higher than in the UK, EU, and AU being 1:30.
Transaction reporting is also forced to be done by every brokerage company in due time to prevent money laundering and keep track of the money flow.
Final conclusion is that Conalp does not possess a license and is not authorized to provide online trading services. Conalp is a phony that cannot offer the safety of funds and strict customer protection.
Broker’s Trading Platform Overview
Getting to the trading platform was fairly easy. The quick registration process was without difficulties and there were no additional ID verification requirements.
Trading software slightly resembles the popular trading terminals offered by most successful brokers. However, the catch is the fact that scammers use the platform to help create an illusion of trading.
Being put in a fictional trading environment helps fool the trader into thinking their funds are indeed growing.
Some functions on this platform offered by Conalp are purely visual and have no practical use, whatsoever.
Instead of falling victim to fraudsters like Conalp, make sure to trade on a reliable platform and invest with a regulated broker.
Conalp Funding Methods Available
Conalp is clear about no minimum deposit amount being required in order to start trading. Accepted methods of funding your account are not precise on the site. However, in the trading area, only crypto depositing is available.
As already known, crypto investing is the most preferred funding method forced by fraud. Almost all offshore brokers prefer it over all other methods because it’s much harder to trace it. Most importantly, it helps the scammer keep their anonymity.
In terms of withdrawals, more methods are accepted, which goes against regulatory rules. It seems like Conalp is inconsistent and rule-breaking when it comes to every little detail concerning deposits and withdrawals.
How Does the Scam Implement?
If you were looking closely you must have run into a phony broker by now. If you show even slight interest, the insisting and convincing will start. Unscrupulous scammers will promise you extraordinary trading conditions that surely result in huge profits.
All you have to do is invest. Then invest again and then invest some more. As soon as you suspect anything and try to withdraw you will face difficulties impossible to overcome.
Required trading volume, additional documents, processing time prolonging, and endless fees following it all. Because they never intended to let you take your money back, let alone earn anything in the first place.
Conalp is one of those unscrupulous brokers you should be careful with. Protect your hard-earned money by investing safely with licensed and regulated brokers instead.
The simplest of comparisons can show you the drastic difference in transparency and trading conditions offered by a licensed broker and a phony.
The only reliable institutions providing real help in regaining your funds are government organizations, financial authorities, and the police.
In case you have happened to fall victim to a scam like Conalp, do not feel embarrassed to report a scammer and share your experience with us!
FAQs About Conalp Broker
Is Conalp Regulated?
No, Conalp does not possess any license or regulation issued by any regulatory bodies.
Is my Money Safe with Conalp?
Considering Conalp is not a licensed broker, they cannot guarantee the safety of your funds.
Does Conalp Offer a Demo Account?
Yes, Conalp offers the possibility of risk-free trading on a Demo account.