AlfaMarkets Review – This Copycat Scam Is One Of Many

Wish we could point at this swindler and say their approach or scam strategy is a complete novelty to beware of.

In actuality, this mass produced website has been recycled about a dozen times and that’s just those that we know of. Some of the previous ones we’ve reviewed are forrestfx.com, finexleaders.com and lendowl.co. All look exactly the same.

Without a single hint about the owning company, all of these setups could be organized by the same one-man-company or whoever is pulling the strings. We advise you to carefully read the following review and see why we cannot recommend this online trading brand to anyone.

Broker status:	Unregulated Offshore Broker
Regulated by:	None
Operating Status:	Active Forex Trading Scam
Known Websites:	alfamarkets.co
Blacklisted as a Scam by:	AFM, CONSOB, CNMV, A-TVP
Owner:	N/A
Headquarters Country:	Marshall Islands
Foundation Year:	13.12.2022.
Online Trading Platforms:	Web
Mobile Trading:	Not available
Minimum Deposit:	$10,000
Deposit Bonus:	Not available
CFD Trading Option:	Not available
Crypto Asset Trading:	Yes (BTC, ETH, LTC, EOS, LUNA, SOL, ZEC, XRP)
Available Trading Instruments:	Forex, Commodities, Crypto, Indices, Shares
Maximum Leverage:	1:500
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	US clients are not accepted
Global Fraud Protection Experts’ Verdict:	Don’t risk your money with unlicensed firms, find a regulated broker instead!

Public Warnings Explain

There’s no doubt that this website runs an unscrupulous activity oriented at defrauding honest retail customers. Although the website at one point alleged to be registered in Marshalls, that information was taken down, along with the remainder of the legal docs that could give any hints.

The project quickly attracted attention of the financial authorities that immediately placed this swindler on blacklists. The first was AFM, and CONSOB, CNMV and A-TVP did it as well soon after.

You can be sure that this firm could never provide you with the standard service like segregation of funds, compensation scheme and risk-reducing strategies. All these regulatory measures that confirm security of deposits are omitted here and your cash will get snatched as soon as you invest it. The same is done by Fundlite, another confirmed scammer.

Horribly Received By Investors

Online review sites like SiteJabber or TrustPilot are a valuable tool when it comes to debunking these kinds of portals. This company in particular has a very bad reputation, with nearly all of the ratings being 1-star.

It may not be like that with other similar firms, though. AllAssetsTrade for instance actively uses review seller networks as a means for a cover-up, so it’s important to check with multiple sources before committing funds.

Unsolicited Phone Calls

This website, like all of its copies, actively uses boiler room agents to attract new clients. You might not be familiar with the terminology, so imagine them as a scam version of a telemarketer.

The story is always the same, they claim to be prominent financial experts that are looking for new investors. Any investments, however, go straight into their own pockets.

Recovering the money lost with these people is extremely difficult without the aid of a professional, so make sure you get in touch with us if you’ve already invested.

Domain Coming To An End

This fraud platform is among the oldest in the series, starting with operation only in late 2022. As with all of the other identical sites, the alfamarkets.co domain was only leased for a single year, as is apparent from the WhoIs register.

This brings another issue to the table, as the life cycle of the scheme is coming to a close. If you’re invested with this faux broker, seek legal support from our experts immediately before the swindlers run off with your cash!

The areas most impacted by the scheme are these:

• Australia

• Spain

• Ireland

• Singapore

• Netherlands

Imitation Of A Reliable Software

The award-winning AlfaMarkets software impresses no one. It only creates an illusion about trading being simple and profit accumulating on its own, which couldn’t be further from the truth. Although innovative tools with advanced features are advertised, not a single one is named.

Since we could preview the platform without even opening an account first, we got to see a rudimentary web-based bogus software that is rid of any useful features.

Marketed VS Available Instruments

At first, you will see claims about having access to over 500 instruments of various product groups and with most popular and most exotic assets included. The reality is quite different, as there’s only these several classes and each only has but a couple of instruments to offer:

• Stocks (H&M, Disney, Heineken, 3M, Marvell)
• Crypto (BTC, ETH, LTC, DOT, ADA, LUNA, SOL)
• Indices (AEX25, BEL20, DAX40, CAC40, DOW)

Accounts Costs Driven By Greed

Majority of the site is used as a template by numerous others, and the selection of trading accounts remain the same as well. All AlfaMarkets account tiers are quite costly. To spice up the deal, the schemers offer larger bonuses and tighter spreads for those who wish to pay top dollar.

Here’s an overview of costs, note that there is no demo:

• Standard- $10,000
• Silver- $25,000
• Gold- $50,000
• VIP- $100,000

Dishonest About Real Costs

If any financial cheater was honest about what they actually plan on charging you, no one would sign up for their services. Following that logic, we weren’t surprised when we saw no legal docs clarifying the fee structure and trading costs on each instrument.

Additionally, the leverage is claimed to climb up to 1:500, which is against any and all regulatory directives where this cyber thief is active.

With so much secrecy involved, you could expect fees demanded to be paid upfront or completely unattractive trading conditions to be arranged by default.

Bonuses Available

Your chosen package defines the bonuses you unlock. These cash rewards range from 30% to 100% for the most expensive account. However, note that these are purely fictitious and you will be prevented from withdrawing a single penny.

Withdrawal Requests Denies

From what we’ve seen thus far with this broker, and indeed all of the clones of the same faux platform, tells us that it’s impossible to trade profitably. Everything is set up in such a way to only drain the clients’ funds, and prevent any payouts.

Some clients realize that they’ve been conned, and attempt to request an AlfaMarkets withdrawal to recover their funds. Once this happens, the con artists will invent numerous hidden fees and costs, and ask for even more money up front. If you’re going through the same ordeal, make sure you get in touch with our legal professionals.

Your Options When Scammed

The most important of all moves you could make after being sure you are defrauded is staying level-headed despite the seemingly disastrous situation. If you take the right steps, your money will be back with you in no time and the fraudster will be faced with legal consequences.

That’s why it’s crucial to report the unscrupulous website that has robbed you and then contact our legal service for professional help with chargeback. Our agents are always available via the online chat and you can book your free consultation whenever you’re comfortable with it.