AlphaPlusFx Review: All You Need to Know About Alphaplusfx.com
Finding a reliable broker is never easy, especially when scammers are everywhere around us. Our AlphaPlusFx review will shed some light on the company and its operations, helping you understand how scams work so you can make more informed decisions. Additionally, don’t forget to check our GC Option review for another broker you should avoid.
It’s important to note from the start that this trading firm ceased operations and they are no longer a threat to investors. However, there is always a risk of them reemerging under a different name or domain, so make sure to pay attention.
Who Is AlphaPlusFx?
AlphaPlusFx is the trading name of Alpha Plus Limited, a brokerage company claiming to be registered in the UK. Upon checking the FCA’s register, there is no mention of this firm, leading us to believe that their claims are just another one of their lies. Any broker wanting to operate from the UK needs to be regulated and registered by the FCA.
Sadly, the false information regarding their whereabouts is not their only lie. As we looked more into the broker’s profile, we were unable to identify any advantages to trading with them.
|AlphaPlusFx||Reliable Broker Must Have|
|Legal name||Alpha Plus Limited||Transparently displayed in the disclaimer or legal documents|
|Regulation||Unregulated||Within your legal jurisdiction – local regulator|
|Registered in||125 Old Broad Street, London, United Kingdom||Your country or the country whose license applies in your legal jurisdiction|
|Established||N/A||The older the domain – the higher the possibility the company is trustworthy|
|Website||alphaplusfx.com||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings||
||Phone, email, social media, web form|
|If a withdrawal is possible||No||Yes|
||Transparent fees – list of spread and commissions|
|If Active on Social Media||No||Often present on social media|
|Investor Protection||None||Compensation fund|
While operational, this trading firm was not regulated by any financial authority, posing a great risk to any investor wanting to trade with the firm. The firm operated from Greece and Cyprus, among other countries, so it’s vital to note that neither the Hellenic Capital Market Commission in Greece nor CySEC in Cyprus regulated the broker.
To make things even worse, several financial authorities issued an alert, warning the public not to invest with this sham broker.
AlphaPlusFx Broker Profile
The trading conditions with this firm are unknown to the public, especially after they disappeared without a trace. We do doubt that the conditions they offered were beneficial, especially without the popular MT4 and MT5 platforms. Scammers don’t dedicate much time to well-designed websites or platforms, especially since other trading platforms are easily prone to manipulation.
Every piece of information will be displayed on the website of reliable brokers, so traders can inform themselves before investing. Never use brokers who don’t even offer a demo account because getting into trading blindly can result in a financial loss.
|Trading Platform||Web trader|
|Financial Instruments On Offer||
|Education or Extra tools||None|
Is AlphaPlusFx Safe To Trade With?
AlphaPlusFx is anything but a safe company. They lack regulation, transparency, good reputation, and reviews, which are all crucial factors to consider. Instead, they lure investors with fake stories and offer risk-free trading, which is something a reliable brokerage would never do.
Furthermore, they claim to be located in the UK, however, they are not regulated by the FCA, raising serious questions about their reliability. Avoiding this broker and similar ones like Genesis Blockchain altogether is in your best interest if you want to start trading profitably.
How Is the Scam Carried Out?
Usually, with brokers like this, fake stories about huge profits are the most common way to scam investors. Additionally, they will cold-call traders and say how making $100 per day is easy with them. And if you deposit a large sum, you will gain even more, of course.
Each country has its own regulatory rules; adhering to those rules makes a broker good. Since this trading firm was not regulated by any financial authority, it was unable to legally operate from any nation, including the countries where this brokerage was active, which are Greece, Spain, Cyprus, and Albania.
Deposits and Withdrawals
Scam brokers frequently deceitfully make it simple for customers to make deposits into their trading accounts. They use a variety of strategies, such as appealing discounts, convincing sales techniques, and assurances of big returns, to persuade people. However, clients may have severe difficulties and delays while trying to withdraw money or profits.
They may place irrational restrictions on withdrawals. Before allowing any withdrawals, they could insist that customers reach a specific trading volume or turnover. It’s important to find a trustworthy and licensed broker to reduce any potential risks associated with deposits and withdrawals because trading is always risky.
Can I Make Money While Trading Online?
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What is AlphaPlusFx?
It is an unreliable broker providing financial services, claiming to be located in the UK.
Is AlphaPlusFx A Scam Or Legit?
Unfortunately, AlphaPlusFx is yet another scammer we exposed, and staying away from them would benefit you the most.
How Does AlphaPlusFx Work?
AlphaPlus Limited was a financial services provider that offered various investment and trading opportunities including forex, cryptocurrencies, indices, stocks, and more.