Warning! Alpha Crypto Trade FX is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
Alpha Crypto Trade FX is the typical FX scammer broker. It’s both very sketchy and lackluster, not to mention that it bears the look of just about the exemplary fraudulent broker.
The broker claims to be one of the leading FX, CFDs, and binary options trading brokers in the United States, with a central address in New York and a license from the CFTC. This can never be truthful in today’s FX world. The US is the most heavily regulated FX nation in the world, and the CFTC is perhaps one the leading regulatory powerhouses in the globe.
Moreover, the company states to be fully regulated by CySEC and the IFSC of Belize; two claims that are completely unfounded and misleading at best! The broker holds no licenses from these two.
However, further down the website we find a claim that Alpha Crypto Trade FX is actually registered in the UK, with a certificate of incorporation included. This document amy well be forged for all we care. A UK registration of any FX business must pass by the FCA, and here with this broker it has not. How do we know it hasn’t? Well, for one the FCA has issued an official warning against the broker.
It’s obvious that the firm is unregulated, and a risk to all. What more proof is there?!
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
Once we created an account, the broker actually never told us via a confirmation mail or message that our account was active. But after completing the registration form, we went to the login page we easily logged in.
Now, here is where the true face of Alpha Crypto Trade FX was revealed, not that the website was in a perfect state.
The user area, first of all, is almost on the brink of collapse, and by the looks of it it would not take long before the inevitable happens.
But by far the worst thing that we got from the user area was the realization that there is no trading software used here. Evidently, there is no reason to believe that Alpha Crypto Trade FX has applicable trading conditions, and thus cannot even be defined as a broker.
ALPHA CRYPTO TRADE FX LOGIN
Take our word for it; there is no trading software here. The user area compromises of a couple of third party charts.
It’s not the first time we have seen this; more and more unregulated brokers don’t bother even with including any web traders.
But, back to Alpha Crypto Trade FX. The broker has no trading software, and with this comes the obvious verdict that this company is definitely not a broker, but a pure scam! How can you be a broker if you don’t have the one defining element?
ALPHA CRYPTO TRADE FX MINIMUM DEPOSIT
The payment gateways in the user area are a some wallet, Skrill, and wire transfer. But as it turns out, the only actual available methods are the crypto wallets. There is no accessing the other payment methods unless the user contact the broker’s rep team, meaning that clients will probably never be able to invest with the other advertised methods; not that we recommend users investing here in the first place.
We also want to say that the all crypto investments are untraceable when dealing with unregulated brokers.
The website claims the minimum to be $300, but there seems to be no minimum deposit; the broker accepts whatever money the users pays it.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
ALPHA CRYPTO TRADE FX WITHDRAW TIME AND FEES
The withdrawal area in the client portal led to an error page, meaning that, technically, users cannot withdrawal any funds. There is no withdrawal portal!
We won’t even bother looking in the website for any withdrawal details, not that the broker is too talkative about it.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Alpha Crypto Trade FX is a huge risk, and a very incompetent scammer broker.