Alpha24Trade Review Is Alpha24Trade.com A Legit Forex Broker

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Alpha24Trade Review: Is Alpha24Trade.com A Legit Forex Broker?

Alpha24Trade.com Review: this is the website of a Forex brokerage that operates from an offshore region but alleges to be registered in Cyprus. Is Alpha24Trade a scam brokerage? Read what our investigation reveals about this company before doing anything else.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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Alpha24Trade discloses that it is based in Saint Vincent and the Grenadines. It also mentions that it is linked to Wallfort Limited, in Cyprus. Forex activities in the region are under the jurisdiction of the Cyprus Securities and Exchange Commission (CYSEC). When we checked the online register of the authority, there was no mention of the broker or its parent company.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of Alpha24Trade

Alpha 24Trade also boasts of an “excellent trading platform” with multiple deposit options. Withdrawals are allowed instantly and at a trader’s comfort. Further, it offers a customizable interface to fit client’s needs better.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Alpha24Trade Trading Platform

No useful information is provided about the trading platform provided for clients of the Alpha24Trade Forex broker. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

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Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not listed, it only mentions that it allows investment “in the world’s most popular assets”. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is undisclosed and so is the spread used. Take note that some leverages are generous but may lead to loss of funds.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Alpha24Trade

The means of making deposits and withdrawals with this broker are VISA, MasterCard, bitcoin, and PayPal. We are discouraged that popular e-wallets are not allowed.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required is $100 and this is good because it is within the average of $100 – $250 common among brokers. The withdrawal conditions of this broker are not listed, which is suspicious.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

It is also important to note that this brokerage wants traders to believe that they can get a 124% ROI in 24 hours and even 1000% in one month. This is simply ridiculous if the company is truly trading in the unpredictable world of Forex markets.

Is Alpha24Trade Licensed?

No. Alpha24Trade is not a licensed brokerage and cannot be trusted. It falsely claims to be registered in Cyprus while it operates from an offshore location. Even if anyone comes across a mention of licensing from this firm, so long as it is based in the offshore location, it is not likely to be a trustworthy one.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get more information about this broker, contact customer support services via the message link on the page.

Conclusion

Alpha24Trade has proven to be a broker unworthy of trust and thus, we rate it low. It does not reveal enough information for us to go on with and tries to falsify some claims. Do not invest with any company promising returns that sound too good to be true. It requires an affordable minimum deposit but it is not worth the risk.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Alpha24Trade Review: Is Alpha24Trade.com A Legit Forex Broker?

After doing some research, we found out that a lot of traders are reporting Alpha24trade and writting bad reviews about it.
It seems like they are not happy about it and they warn others not to trade with them.

It’s always important to know what other traders are thiking about a broker before using it and we can say that they are not saying good things about Alpha24trade.

What do regulators say about Alpha24trade ?

This is the most important thing you need to know about a broker before using it. Is Alpha24trade regulated ? Is it an offshore company ?

Most brokers are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if a broker steal your funds, you won’t be able to complaint about it unless they are licensed by a serious regulator such as the CySEC (Cyprus Securities and Exchange Commission).

An unregulated broker is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.

Alpha24trade is an unregulated offshore broker owned by Alpha24Trade Ltd and located at James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines.

You should definitely avoid any unregulated or offshore broker and Alpha24trade is one of them.

Have you been Scammed by Alpha24trade ?

Have you been victim of this company ? Did you lose money with them ? Everyone does mistakes. Don’t worry, you are not alone, and we are here to help you.

Our team of experts is available 24/7 in order to help you recovering your hard-earned money.
After asking you some questions, they will be able to build a chargeback case to fight the broker and get your money back as soon as possible.

Chargeback is the solution

As we said before, the good news is that there is a solution and it’s called a Chargeback.
But what is a Chargeback ?
A Chargeback is the retroactive cancellation and refund of a charge made using your credit card.

Not a lot of people know that, but there is a high probability of getting your money back when you build a Chargeback case as long as it is built correctly from the beginning to the end.

Using a chargeback service like MyChargeBack may be the only way to build a correct Chargeback case in order to get your money back as fast as possible.

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Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.

Alpha24 Trade Review – is it scam or safe?

Trading Accounts and Conditions

Alpha24 Trade appears to offer trading in CFDs and digital options. While it promises spectacular returns, the website doesn’t provide any information whatsoever on trading conditions, so we con’t comment on those.

If you are wondering whether it is a good idea to invest with this broker, make sure you read this review first. We have major concerns regarding Alpha24 Trade.

Alpha24 Trade Advantages

Alpha24 Trade Disadvantages

Makes false claims about regulation

The broker says to be owned and operated by Alpha24Trade Ltd., registered in Saint Vincent and the Grenadines. Financial providers in this offshore zone are not regulated, and probably this is the reason why Alpha24 Trade says to be a member of The Financial Commission (FinaCom) – a claim that turned out to be false.

Click on the image to zoom in.

Anyway, FinaCom is an external dispute resolution (EDR) organization based in Hong Kong which cannot be defined as decent forex broker regulation. What is more important here is that Alpha24 Trade makes false claims, so it is clearly not a broker you can trust. This, combined with the lack of financial oversight, inclines us to suspect that we are dealing with one of the many fraudsters in the world of online trading.

Possibly involved in a serial scam scheme

The broker is also a part of the Wallfort Limited Group, which is allegedly based in Cyprus. Known members of the group include Olymp Trade, Premium24Option, NorthOption, and FXLucid – all of the brands are as shady as could be, and possibly involved in a serial scam scheme.

Zero clarity on trading conditions

Another worrisome sigh regarding Alpha24 Trade is that the broker’s website has not disclosed any essential trading parameters, such as the spreads (or payouts in Binary options trading), leverage provided, etc. It is also unclear what platform does the broker use, if any at all. There is only a live chart on the website that indicates what seems to be real-time cryptocurrency prices, yet these values are provided by a third party, so they are hardly indicative of the broker’s offer.

Furthermore, Alpha24 Trade does not offer free demo accounts, so we can safely conclude that it’s not transparent at all regarding the services provided and the pricing.

No real trading platform

So, we opened a real account with the broker (without depositing any money) in order to get some more information on its offer. As a result, we got access to this:

As you can see from the above image, this is not a real trading platform, but only a dashboard to propel the illusion. This inclines us to suspect that Alpha24 Trade doesn’t support any trading platform whatsoever, only aims at receiving deposits from clients that are unaware of its ill-minded intentions.

That said, most forex traders prefer the industry standard MetaTrader4 (MT4) platform, which software offers some great functionalities, such as the top-notch charting and the automated trading bots developed known as Expert Advisors or simply EAs.

After signing up with Alpha24 Trade, we were actually offered a bunch of investment plans, all of which will supposedly bring you skyrocketing returns such as 124% in just 24 hours.

Click in the image to view full size.

All of the profits mentioned above are just too good to be true. For example, CFD providers in Europe are required to announce statistics on the percentage of their clients making losses, we know that actually around 70% – 80% of them lose.

Besides, anyone with some experience on the online trading world would tell you that greater returns always come with a higher level of risk, and the broker’s website mentions nothing about it.

Conclusion

All in all, it seems that Alpha24 Trade is just another scammer trying to rip off gullible investors. Unfortunately, the forex and cryptocurrency markets are full of them, so traders should always be on the alert and check carefully brokers’ details and the public registers of the respective financial regulators in order to make sure they deal only with licensed and reliable companies. This is the only way to minimize the risk of foul play in the forex and cryptocurrency market.

To sum up the above:

Pros Cons
None Makes false claims about regulation
Possibly involved in a serial scam scheme
Zero clarity on trading conditions
No real platform
Unrealistic returns promised
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Alpha24 Trade Review

In this review, we will describe why Alpha24 Trade is a scam that you should avoid at all cost !

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Is Alpha24 Trade Legit?

Looking at Alpha24 Trade website, it shows that they are owned by Alpha24Trade Ltd. Alpha24Trade Ltd is located in Saint Vincent and the Grenadines, a well-known offshore zone and a preferred location for shady brokerage. Alpha24 Trade is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.

To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why Alpha24 Trade is a dangerous broker to deal with.

Are Funds Safe with Alpha24 Trade ?

With such lack of information and Alpha24 Trade being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is Alpha24 Trade is withholding vital information to users.

Alpha24 Trade could go bankrupt from one day to another since there are no banking information about this broker.

High Success Rate – Transparency & Integrity –

Alpha24 Trade Review: our Conclusion!

Alpha24 Trade is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.

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