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Alpha Financial Review: Alphafinancials.com Awry Forex Broker Scam Explained

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Alpha Financial Review: Alphafinancials.com Awry Forex Broker Scam Explained

Alfa Financial (Alfafinancials.com) is CFDs and Forex broker scam to hit the lucrative commodities markets. AlfaFinancial is claiming that they have over 20 years of trading experience. With leverages of up to 1:100 and promises of fast order execution, we had to check them out. According to their mantle, they can help traders enter the market with confidence all thanks to their platform. Here’s what we found out regarding Alfa Financial.

Alfa Financial Review

Alfa Financial Review:

Alfa Financial claims to offer Forex, CFD, futures, metals, and energy as trading commodities. This broker claims to deliver world class services to their patrons. They go further to claim that this is at the core of their obligations. What’s more, they boldly claim that they harness the power of technology to add value to offerings and products. Could all these claims be true? Read on to find out more regarding AlfaFinancial.

Claims and promises are what scammers use to entice new users into signing up. These scammers know for a fact that we all want to make a quick buck or two. That’s why they have come up with empty promises to attract as many newbie investors as possible. With any online investment opportunity, it’s best to read reviews and find out what people are saying. This review is honest and based with real facts.

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Who Owns Alfa Financial?

Disclaimer at the footer of the homepage claims that this platform is owned by Alfa Financial LLC. This company is based in Port Saeed Deira Dubai, UAE. According to this information, they have clearly indicated that they are an offshore brokerage house. Offshore brokers are notorious in that they fail to follow strict rules and guidelines. That’s why signing up with Alfafinancial is a scary thought to begin with.

Who are the actual people behind Alfa Financial LLC? Why have they failed to mention real names of people who own this company? One reason why scammers fail to disclose their identity is to remain anonymous. This broker simply wants to remain anonymous and doesn’t want to be contacted by anyone. And that’s why it’s imperative that relevant authorities should investigate this brokerage firm.

Is Alfa Financial Licensed or Regulated?

Alfa Financial Scam

Offshore brokers rarely get any real licensing or regulation from relevant securities authorities. What this means is that we found no documentation that supports licensing of this brokerage firm. Another disturbing thing is that they have put up 21416 as their registration number. Remember that scammers will do or say anything to try and legitimize their products and services. AlfaFinancial is no different.

If indeed this brokerage firm has been licensed, where are the certificated and documents to verify this? Lack of these crucial documents is proof that we are dealing with an unlicensed and unregistered Forex broker. Alfa Financial is not authorized to conduct any Forex transactions on behalf of any third parties. And now you know better than to sign up with a platform that is not fully registered. Your funds are at risk of being hidden from you.

Fake Trading Platform.

According to their platform page, this broker uses two kinds of platform for trading. They claim to use AX1 platform as well as MT4 trading platform. Some of the visible claims they throw includes platforms with technical indicators. They also claim to offer live charting updates and constant market insights. To test Alfa Financial platforms, we decided to download them on various media devices.

Once we started downloading, download stalled at 10% which is quite unusual. What this means is that we are dealing with an unstable platform. Unstable platforms are a huge security threat to all users. These platforms are easily manipulated by hackers for personal and credit card information. Hackers find unstable platforms as breeding grounds for personal data hacks. This makes their platforms highly prone to cyber-attacks.

Always go for Forex trading robots that guarantee your safety when trading Forex.

No Live Chat Support.

Another red flag that we spotted with Alfa Financial is that they don’t have live chat support. Don’t be fooled by the fact that they have a live chat dashboard at the top of their website. Once you click on it, you will get a message that they are offline. This is not expected from a broker who claims to have over 20 years trading experience. Folks, this is simply a fraudulent broker who is out to commit harm.

How do they expect users to contact them when they are in need of getting answers? What they have done is leave users with an option of sending an email to them. Problem with sending emails is that they take long to get any response. This is another clear fact that this broker doesn’t want any contact with users. Anonymity is a dangerous character with any online investment platform.

Are Funds Safe with Alfa Financial?

Alfa Financial Fake Review

Funds are never safe with a broker who tries as much as possible to remain anonymous. There are other disturbing features that we found out. One major red flag is that they fail to disclose who their depository bank is. Where do they deposit money sent by other members? Failure to disclose this makes the brokerage firm suspicious. This is not the only flaw we saw with AlfaFinancial.

This broker does not segregate accounts which is an unacceptable practice. What this means is that they are pooling funds in one account. In case of bankruptcy or insolvency, members will lose money without question. Another major problem with this broker is that they fail to participate in a compensatory scheme. In case the broker faces the above problems, users will never be compensated.

Fake Demo Account.

Did you know that these brokers have rigged the demo account in favor of users? This is one of those tricks scammers don’t want anyone to see. What this broker has done is offer a free demo account to traders. Their demo account is rigged to make over 90% successful trades which they do so intentionally. These scammers do this in the hope of enticing users to sign up with them. Once you realize you can make 90% trades, you will want to open the real thing.

And this is where the trap is set for newbie traders to fall into. Newbie traders will be enticed to open a real account and thus, deposit real money. Once you deposit money with this broker, you will never see it. These brokers are in league with other rogue brokers in order to share the spoils. That’s why this broker is trying as much as possible to remain anonymous. Don’t sign up with this shameful scam.

Is Alfa Financial a Scam?

Evidence shows that we are dealing with a rogue broker who will say or do anything to sign up users. Don’t sign up with this broker and make sure to ignore all their promotional materials that they send. Mark all their emails as Spam and never click on any links sent by their email marketing team.

Alfa Financial Final Verdict.

Alfa Financial Scam Review

Concrete evidence leaves us with no chance but to blacklist this broker in our scam list. From their level of anonymity to being an offshore broker, this is simply a fraud. Make sure you warn your friends and relatives from signing up with this broker. Always strive to remain safe and use trustworthy products and services when investing online.

Finally, we wish you all the best in your Forex trading experience.

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