Alpha FX Review – Is AlphaFX Broker Worth Your Investment?

Publicly traded, Alpha FX Group is based in the UK and is traded on the FTSE AIM 100 stock exchange. Since its founding in 2010, the broker has grown quickly, adding offices in Toronto and Amsterdam.

This review of Alpha FX review will go over the broker’s services and features, over its trading policies and look at the benefits and drawbacks of opening an account.

In addition, we recommend reading our reviews about brokers Icm Capital Limited, Bcm Begin Capital Markets and Capitalix.

Alpha FX Is a Regulated Broker?

Alpha Group is the new name of the company, but we’ll still refer to it as Alpha FX. The company is registered with the UK’s Financial Conduct Authority (FCA) but is not permitted to offer specific services. According to the FCA, Alpha FX “cannot hold or control client money”.

The Malta-based Alpha FX Europe Limited subsidiary of Alpha FX is another entity. And the main regulator that controls it’s operations is the MFSA. The MFSA, on the other hand, is a Tier 2 regulator, which is not as rigorous and watchful as Tier 1 regulators like the FCA.

Additionally,  the Revenu Quebec and FINTRAC in Canada are two important regulators. However, IIROC must regulate all legitimate service providers doing business in Canada. And surprisingly, Alpha FX broker is not on their list.

AlphaFX broker has top-notch regulations, as well some limitations. Unattractive trading platform, non-transparent trading conditions, commissions and fees. No transparent funding policy.

Alpha FX Software – Platform Comparison

Alpha FX has a unique proprietary platform. According to the data on the business’ website, that is all we are aware of.

Even though the broker claims to have the most prestigious technology, you can’t access it, unless you register. Therefore, we were unable to confirm it. However, we are aware that Alpha FX does not offer a well-known trading platform like MT4 or MT5. Not to mention the lack of mobile apps.

So, if there was anything to attract you to invest here, that would be a reliable trading platform. But discovering so many flaws diminishes our desire.

Alpha FX ‘s Trading Assets and Instruments

Only forex trading is available from Alpha FX. The firm offers 88 currency pairs on which customers can trade spot transactions, options, and futures. Cryptocurrencies and CFDs are not traded.

Regarding the trading conditions, Alpha FX omitted all information regarding leverage, spreads, and commissions. As required by the FCA, we estimate that the leverage cap is 1:30.

The apparent catch in this situation is that clients are given account managers who will handle their trading on their behalf. Alpha FX cannot “hold or control client money,” as stated earlier. All clients need to do is invest.

Alpha FX Countries Of Service

As we can see from Alpha FX reviews and presentations they are active worldwide. Yet, in some countries, their regulation might be tricky. They are mainly trading with clients from:

• United States
• Canada
• United Kingdom
• India
• Netherlands

But to sum it up, they can’t trade with UK clients with their FCA permissions. Moreover, they don’t have the main Canadian regulation from IIROC.

Types of Accounts Available With Alpha FX

Quite a surprising fact about this broker is the lack of trading offers. They don’t have standard account type classification. Therefore, you don’t know what to expect.

So, the only way to get started with this broker is by registration. Then you’ll most probably get a call from their agents who will try persuading you into a deposit. But how big is it going to be, we can’t know.

Can a Trader Use a Demo Account?

If they really wanted to share how everything works and be transparent they would have a demo. Which is a huge downside of this mysterious broker.

Many FCA-regulated brokers are completely transparent about their offerings. Therefore, you could rethink investing here.

Terms of Service for Alpha FX

Even though the broker has presented T&Cs, some basic information is missing. Primarily, deposit and withdrawal policy.

Which might be an issue on a later stage. Maybe that’s why we have many negative Alpha FX reviews.

Leverage, Spreads and Fees

Same as with the funding policy, this broker didn’t reveal any trading conditions. So, you are expected to blindly trust this broker just because of the regulation.

But if trading is going to cost you more than you are earning, it’s not good. Therefore, you should opt for a bit more transparent Tier 1 regulated broker.

Do You Have A Problem With Alpha FX Broker? – We Want To Hear Your Story

Let us hear about your experience with Alpha FX trading company. We were surprised to see so many negative reviews. But once you analyze the broker, you understand how many irregularities there are. Therefore, potential issues.

Firstly, you should contact designated regulator for a solution. Especially if it’s Tier 1, which has a better reputation. Secondly, you can try withdrawing your funds and closing the account.

However, we could see in reviews traders having issues with wihdrawals and fees. If that’s the case with you, you can book a consultation with our fund recovery team. After initial meeting you can start a chargeback process.

What Is the Chargeback Procedure?

Chargeback is a transaction reversal procedure. Once you make a payment with a debit/credit card, you can cancel it. But only in the first 540 days. Don’t wait too much until it’s too late. If there is smoke, there is a fire. Get in touch today.