FxAlta review – A broker luring traders worldwide

This company presents itself as the world’s number one in the trading business. With their offshore registration traders can’t expect much. But at first glance, it might look legit. However, after deeper analysis, you can find many discrepancies about this company.

Continue reading our FxAlta review to find out more.

Is FxAlta a Regulated and Licensed Broker?

In fact, FxAlta trading company claims to have a license issued by MISA. This is considered a lower-tier offshore regulator and not reliable as Tier 1 regulators. However, checking their database didn’t bring any results about this broker. We lost all hope about this broker once we researched Tier 1 regulators’ databases. Some of those are FCA, BaFin and ASIC.

After the license research, you can already see why not invest with this broker. Funds are not protected in any way. But imagine if the broker advertises some security measures. That would still be questionable. On the contrary, you can read our City Index or Capitalix review to see what trusted companies are all about.

Warning Issued by Financial Authorities

Another key point of this company is a warning from the regulator. On the radar were Italian traders. Therefore, Italian CONSOB investigated this broker and issued a public warning.

In April 2023, they discovered another entity Moritz Ltd as one of the owners. Take a look.

FxAlta Platforms – A Software Comparison

After all, regulated brokers mostly have trusted software. Such as Meta Trader or cTrader. On the contrary, this broker has a suspicious proprietary web trader. What makes it even more suspicious is mobile app navigation. Once you want to check the official iOS or Android store, you are redirected elsewhere.

Moreover, this software only gives you basic trading tools, calendars and news. But algorithmic trading or social trading is not on the radar.

         What Financial Instruments Does The Platform Include?

Trading instruments provided by this broker do not cover anything extraordinary. Nothing that you can’t find with a regulated broker. Their instruments are divided into 6 categories. Important to realize is that they miss highly popular crypto.

Anyway, you can trade with:

• Currency pairs (Forex)           GBP/AUD, USD/HKD, EUR/SGD
• Commodities                        crude oil, natural gas, palladium
• Indices                                  S&P 500, DAX 30, FTSE 100
• Shares                                  General Motors, Aurora Cannabis, Goldman Sachs
• Bonds                                  QQQ, Russell 2000
• ETPs

Generally speaking, solid instruments range but without security. This broker is not regulated and data provided on their software might be manipulated. Instead, you can find a Tier 1 licensed broker and avoid headaches.

FxAlta Countries Of Service

FxAlta reviews discover all the countries where they operate. But those traders mainly come from:

• Italy
• Brazil
• France
• Argentina
• Canada

In fact, all these countries have strict regulations. Therefore, it’s just a matter of time before everyone follows CONSOB’s steps.

Account Options Offered by FxAlta

Another shady fact about the FxAlta broker is a welcome bonus. Through their account types, you can get additional bonus funds. Usually, those come with malicious clauses.

FxAlta trading company offer consists of the following account types:

• Standard
• Premium
• Platinum
• VIP

However, none of these have transparent trading conditions. Not to mention commissions or fees.

         Can a Trader Use a Demo Account?

FxAlta broker doesn’t have a demo account available. So, traders don’t have any risk-free option for testing.

Considering that some Tier 1 licensed brokers have it, that’s enough reason to avoid this one. Especially because that is a sign of something shady behind the scenes.

Terms of Service for FxAlta

FxAlta broker has the most insane bonus policy. For every $1 bonus, a trader must execute a trading volume of $10.000. This means on $250 bonus that’s $2.500.000. Before that, you can’t make any withdrawals. But with such a policy it’s questionable that even after that you would get the money.  If it’s so easy to reach that amount with a $1.000 deposit everyone would be rich.

As for the funding methods you have:

• Visa/Master card
• Wire transfer
• WebMoney
• Neteller
• Skrill
• QIWI
• PaySafe
• Yandex
• AstroPay

Unfortunately, the broker doesn’t mention in the withdrawal policy any fees. Important to mention is that withdrawal processing time is up to 10 days. On top of that, the company can decline or delay withdrawal if not satisfied with the documentation provided. For a broker claiming to be regulated, this is quite suspicious.

         Leverage, Spreads and Fees

A leverage of 1:200 violates most of the regulations. Especially European ones. Because of extreme risk, EU regulators limited leverage to 1:30. Without some fund protection measures it can be very dangerous.

On top of all, this broker doesn’t reveal any information about spreads. That’s practically how trusted brokers make their profits. Besides commissions and fees. Thus, the FxAlta broker didn’t bother much about it. Instead, their primary goal seems to get as higher deposits as possible.

What Should I Do If I Have FxAlta Problem?

Primarily, you should share your story with us. Helping other traders know about this company can’t hurt. But if you have a withdrawal issue the best option is to start a chargeback. As soon as possible. Because if you wait too long you could miss the opportunity to get your money back.

For any questions, our specialized fund recovery team is available. In fact, you can book your first consultation for free. Don’t let anyone get away with your money. Get in touch now!