AlphaFinancialGroup.com Review Is Alpha Financial Group A Legit Broker

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AlphaFinancialGroup.com Review: Is Alpha Financial Group A Legit Broker?

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Alpha Financial Group Review – is alphafinancialgroup.com scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Bronze N/A 1:400 3 pips
Silver €5 000 N/A N/A
Gold €10 000 N/A N/A
Platinum €25 000 N/A N/A
Pre Diamond €50 000 N/A N/A
Diamond €100 000 N/A N/A
VIP €250 000 N/A N/A

Alpha Financial Group offers as many as seven account types, but it remains largely unclear what are the differences between them. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with Alpha Financial Group, as the broker appears quite shady and could be a scam.

Alpha Financial Group Advantages

The maximum ratios offered by Alpha Financial Group are quite high, reaching 1:400. While many traders consider this as a good opportunity for quick and big profits, it is certainly not for everybody. Keep in mind, trading with high leverage does not guarantee better results – in fact, most newbies lose more than they have deposited this way.

Multiple asset classes covered

it seems that this broker’s offer is quite broad in terms of tradeable assets – there are many currency pairs, including exotic ones, as well as CFDs on indices, commodities, precious metals, stocks and many cryptocurrencies available for trade. Yet, as we have major concerns about this broker, you might search for a better trading partner from our list or reliable forex brokerages offering cryptocurrency CFDs.

Alpha Financial Group Disadvantages

No company information provided

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Alpha Financial Group’s website does not feature any information about the entity behind the brand – there is no address, nor any company name mentioned. It only features two contact numbers of the broker’s support in England and Germany. This is a sign of trouble because anonymity is quite common when it comes to scamming. Traders who have fallen victim to a scam perpetrated by anonymous brokerages have no legal options afterwards.

No legit license, blacklisted by several regulators

Although we searched the broker in the registers of both the Financial Conduct Authority in the UK and BaFin in Germany, we got no results. So, we may safely conclude that Alpha Financial Group is an anonymous unregulated brokerage, which is one of the worst scenarios in the online trading world.

Click on any of the images to zoom in.

What is worse, we found out that Alpha Financial Group has become notorious and has gotten under the radar of several financial watchdogs including the Australian Securities and Investments Commission (ASIC), and Spain’s financial regulator, the CNMV.

Alpha Financial Group does not announce any spreads on the website, nor offers free testing service, so we had to open a live trading account (without investing any money) in order to be able to see its spread. As it turns out, this broker’s spreads aren’t lucrative at all, floating around 3 pips on EUR/USD.

Click on the image to view ful size.

Most brokers offer spreads that are at least two times lower than this, so check out the conditions offered by some of the best brokers.

MetaTrader not available, nor free testing

As you can see from the image in the previous point, Alpha Financial Group uses some simple web-based platform. It is simple, but lacking many of the advanced tools available with other platforms such as the MetaTrader4 (MT4).

Although it may seem outdated, the MT4 is still the favorite of many forex traders. The platform offers some of the best charts, alongside with a lot of indicators and customization options. Besides, the MT4 is very popular for its automated trading strategies (Expert Advisors).

Conclusion

Overall, there seem to be too many red flags regarding Alpha Financial Group. Its website is anonymous and lacking essential information on trading conditions. What is worse, the broker has been blacklisted by the financial authorities in Australia and Spain as a potential scammer.

The forex and cryptocurrency markets are plagued with con-artists, and many traders fall victims to all kind of investment frauds each day. So, make sure you’re not the next one. To this end, you’d better only deal with entities holding licenses from reputable financial regulators like Australia’a ASIC, Cyprus’s CySEC or UK’s FCA. These jurisdictions have a set of requirements for forex brokers regarding client account segregation, transaction reporting, capital adequacy, and more.

And finally, here are the highlights of the present review of Alpha Financial Group:

Pros Cons
Generous leverage No company information provided
Multiple asset classes covered No legit license, blacklisted by several regulators
MetaTrader not available, nor free testing
High spread
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.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

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.

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK FCA Web €29 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for Alpha Financial Group

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