Is AlphasCrypto Legit or Scam?
Red flags galore: AlphasCrypto presents itself as a legitimate broker, but numerous red flags expose it as a scam. Here are some key points to remember:
- False regulation claims: AlphasCrypto claims regulation by authorities in the UK, Canada, and entirely false Australia.
- Banned services: They offer CFD crypto trading, which is illegal in the UK.
- Limited platform: Their platform is a basic TradingView chart with minimal features, lacking industry-standard software like MT4 or MT5.
Company Overview
Broker Status: | Unregulated Scam Broker |
Broker Regulation: | Unlicensed Scam Broker |
Scammers Websites: | |
Operating Status: | Active Forex Trading Scam |
Blacklisted as a Scam by: | N/A |
Broker Owner: | N/A |
Headquarters Country: | UK (allegedly) |
Foundation Year: | 2023 |
Trading Platforms: | WebTrader |
Mobile Trading: | Not Available – only via web |
Minimum Deposit: | $250 |
Deposit Bonus: | N/A |
Crypto Trading: | Available – BTC, XRP, ETH |
CFD Trading: | Yes, you can trade CFDs |
Trading Instruments: | Forex, commodities, indices, shares, cryptocurrencies |
Maximum Leverage: | 1:500 |
Islamic Account: | Not Available |
Demo Account: | Yes |
Accepts US Clients: | US traders are not accepted |
Services or Products
AlphasCrypto offers CFDs on various assets, including:
- Currency pairs (e.g., EUR/USD, GBP/NOK)
- Commodities (e.g., gold, silver)
- Indices (e.g., AU200, BE20)
- Shares (e.g., Amazon, Apple)
- Cryptocurrencies (e.g., BTC, BCH)
If you have lost money to companies like Bacco Capital, or Tradello; please report it to us on our report a scam form.
Trading Platform & Leverages
Their platform is a basic TradingView chart with limited features. They offer high leverage (1:200 to 1:500), which is risky and not recommended for most traders, especially considering their lack of regulation.
Spreads and Cost of Trading
The platform only displays raw spreads, with a minimum of 1.5 pips for accounts. However, information on swaps, commissions, and other fees is absent, raising concerns about transparency and hidden costs.
License and Regulations
AlphasCrypto is not regulated by any reputable financial authority. Their claims of regulation are false and should be a major red flag for potential investors.
Legal Warning Against AlphasCrypto
Investing with an unregulated broker like AlphasCrypto is extremely risky. You have no legal protection in case of fraud or disputes. Additionally, their activity might be illegal in your jurisdiction, leading to legal consequences.
Deposit and Withdrawal Methods
They offer deposits and withdrawals through:
- Debit/credit cards
- Wire transfer
- Bitcoin
However, their website lacks clear explanations of the withdrawal process, and online reviews raise doubts about the possibility of successful withdrawals.
AlphasCrypto Pros and Cons
Pros | Cons |
None Identified | Unregulated broker |
False regulatory claims | |
Limited platform with basic features | |
High leverage is not suitable for most traders | |
Lack of transparency about fees | |
Suspicious withdrawal process |
Why Dealing With An Unlicensed Broker Is Risky
Unlicensed brokers operate outside legal frameworks, posing significant risks to investors:
- No protection: You have no legal recourse in case of fraud, theft, or disputes.
- Potential scams: Unregulated brokers are more likely to be involved in scams and manipulative practices.
- Limited functionality: They might lack essential features and functionalities found in regulated platforms.
Client Feedback
Online reviews and user experiences with AlphasCrypto are overwhelmingly negative. Many report difficulties withdrawing funds and aggressive sales tactics.
How Can “ReviewsAdvice” Help You If You Get Scammed?
If you suspect you have been scammed by AlphasCrypto, it is crucial to act quickly. Consider these steps:
- Report the scam to the relevant authorities in your country.
- Seek legal advice to explore potential options for recovering your funds.
- Gather evidence, such as communication with AlphasCrypto and any transaction records.
“ReviewsAdvice” can help you understand the risks associated with unlicensed brokers and provide resources to help you choose a safe and reputable broker.
We will provide you recovery service recommendations, which will help you in recovering the lost funds or you can report to us today by the below form.
Get Your Money Back from Scammers.
Final Thought
AlphasCrypto exhibits numerous red flags, including false regulatory claims, a basic platform, and a lack of transparency. Avoid investing with them and choose a regulated broker to ensure your financial security and protect yourself from potential scams.
