ACE and vacancy affinity capillary electrophoresis (VACE) are the commonly used methods for determination of complexation constants by CE. The applicability and limitations of these methods were tested experimentally and by means of simulations using our simulation software Simul 5 Complex. It was shown that while the ACE method provides reliable and precise values of complexation parameters, those determined by VACE can be incorrect especially in the case of strong complexation. The effective mobilities of the system peaks in the VACE method, and consequently, the resulting complexation parameters were found to be a function of concentration of the analyte present in the BGE. Development of system peaks in VACE is discussed in the frame of the linear theory of electromigration. Dependence of mobility of system peaks on the composition of the BGE cannot be characterized by a simple analytical expression as in the case of ACE method. Thus, the VACE method fails and the resulting complexation constants might seriously differ from the reality.