Is Alphatrade a scam or legit broker? Read Alphatrade Review
Alpha Trade allegedly provides access to the widely acclaimed MetaTrader 4. Upon creating an account with the broker, however, we soon discovered that their version of MT4 was actually created by CFidex instead.
This company has already been spotted providing trading terminals for various shady brokers before. The Marshall Islands has become a popular location for fraudulent activities as there is no local financial regulation or authority to monitor these companies. Therefore, we strongly suggest avoiding investing with entities established in this area, as they are generally unreliable.
Additionally, Alpha Trade does have its own web-based trading platform available.
Alpha Trade has not offered any direct contact details; the only way to reach them is by e-mail. The exact location of this broker is unknown, yet they state they are regulated by the CIMA (Cayman Islands Monetary Authority) and the FSC of Mauritius. Nevertheless, a brief investigation into both regulators’ records shows that Alpha Trade is actually uncontrolled and thus untrustworthy.
The main reason why Alphatrade is a possible scam broker is that the broker has got many Complaints and negative Alphatrade reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.
Despite Alphatrade attempts to look legit and trustworthy, we can’t disregard the alerts that Alphatrade giving us. There are many brokers like it, and we can quickly recognize the kind of specialist we were dealing with by stepping into the site. We also reviewed comparative-looking broker sites in our scam brokers 2023 list, the vast majority of them are unlicensed and obscure. Find more about the scam broker in our review list.
Possible scam activities of Alphatrade
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Alphatrade review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative Alphatrade Reviews and Complaints
Alphatrade has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative Alphatrade Review
After Searching internet you will find many negative Alphatrade Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and Alphatrade reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by Alphatrade? How to get your lost money back from Alphatrade?
The best solution recommended for getting your lost money back from Alphatrade is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
Alphatrade Review: Conclusion
To begin with, Alphatrade is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold all valid licenses and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging Alphatrade as a possible scam in this Alphatrade Review.Are you planning to trade with Alphatrade and invest your money? Report Scam suggests you to read this Alphatrade Review first.