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AlfaPrime Markets Broker Review
- 350+ Tradable Assets
- The minimum deposit fee is high
- Not strictly regulated
Overview
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FAQ
AlfaPrime Markets Broker Review – AlfaPrime-Markets.com Is An Inactive Trading Scam
Alfa Prime Markets has a fair amount of recognition, but not because of its positive qualities or accomplishments. An essential characteristic of the broker is its resemblance to a medieval masquerade participant—an anonymous organization with dubious goals hides behind a bright and catchy mask.
Here’s why AlfaPrime Markets has received so much attention despite its secretive nature.
In addition, you can enhance your trading knowledge by reading our unbiased reviews of EmiDeals, GMGroup, and Platinex.
- Scam Broker Status: Unregulated
- Licensed by: Unlicensed company / Unregulated
- Websites of scammers: alfaprime-markets.com (inactive)
- Forex Trading Scam: Active
- Listed as a scam by BaFin (Germany)
- Mia Group LLC is the broker-owner
- Country of Headquarters: Saint Vincent and the Grenadines
- Founded in: N/A
- Platforms: None
- Trading on mobile devices: N/A
- Minimum deposit: $250
- Yes, there is a deposit bonus.
- Trading Crypto Assets: Available
- You can trade CFDs: Yes, you can
- The trading instruments include currency pairs (Forex) / commodities / stocks / indices / cryptocurrencies (cryptos) / contracts for difference (CFDs)
- Leverage maximum: 1:400
- It is not possible to open an Islamic account.
- Demo account: No, only live performances are available
- The company does not accept US clients.
- Scam Broker: Don’t Invest!
Is AlfaPrime Markets Regulated? – Why Does It Matter?
Transparency between brokers and clients is assured by regulation from reliable financial authorities. Does transparency matter for a company that conceals its owners, headquarters, and true objectives?
In reality, regulators are created to:
- Ensure fair trading by auditing and controlling all processes
- Ensure that all cooperation terms and conditions are met
- Protecting the rights of financial companies’ clients
Checking the information on a broker’s official website is usually enough to determine if it is regulated. Unfortunately, we are unable to do this with the suspect we currently have. The company’s website had to be deleted due to negative attention.
Nonetheless, we visited its website and found official documents indicating the broker is owned and operated by Mia Group LLC, a company based in St. Vincent and the Grenadines.
Even though this is true, AlfaPrime Markets’ regulation is untrustworthy.
Firstly, we would like to point out that Cash FX Group, FXPoint and Fair Forex are fraudulent brokerage firms.
What’s Wrong With License? – Beware Of Fraud
The laws governing SVG regulation are not strict enough to oversee the companies licensed by them.
In most cases, fraudulent brokers take advantage of the opportunity to obtain an SVG license to have a free hand. However, Foreign organizations involved in Forex or Binary Options are not regulated, monitored, supervised, or licensed by the FSA, as stated several times.
AlfaPrime Markets Warning Issued by BaFin — Evidence of Fraud
We checked all reliable financial authorities’ databases to ensure the review was 100% honest and impartial. Also, We could not find any information regarding the broker’s relationship with the FCA, ASIC, MiFID, and other regulators.
Furthermore, we found a BaFin warning about Mia Group LLC’s fraudulent activities.
Alfaprime-markets.com is responsible for the trading platform alfaprime-markets.com, the German regulator confirmed. BaFin’s investigation appears to have led to the website’s removal and cessation of fraud.
There is, however, a possibility that the Mia Group is still operating under a new alias as experienced deceivers and thieves.
Where Is AlfaPrime Markets Trading Scam Active?
Many online scam victims within the European Union have attracted the European regulator’s attention. Most defrauded depositors are citizens of:
- Germany
- Belgium
- Switzerland
- The Netherlands
- Canada
However, regulators often pay attention to scammers in a few confirmed fraud cases. Furthermore, scammers can deceive dozens of new victims during the investigation process. A separate ability to avoid illegitimate organizations is also essential.
Scammed By AlfaPrime Markets Broker? – Talk To Our Recovery Experts
Our team of experts is ready to assist you in performing a chargeback, regardless of the case’s complexity. However, Get a free consultation from our experts by chatting online!
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FAQ Section:
What Is AlfaPrime Markets, And Should I Invest Money In It?
AlfaPrime Market’s complaints identify the broker as an unregulated online trading company. The broker has been blacklisted by BaFin and cannot be trusted.
Can I Trade Cryptocurrencies And CFDs With AlfaPrime Markets Broker?
As of right now, the broker’s activity has been suspended due to violations of the terms and conditions of fair brokerage. Also, you cannot open an account and trade with cryptos and CFDs.
Does AlfaPrime Markets Give a Deposit Bonus When Opening an Account?
The broker claimed that despite the ban on deposit bonuses, he always offered them.v