Alt-exhange.com is an online trading platform that claims to provide traders with a wide range of financial instruments, including Forex, CFDs, and cryptocurrencies. However, there have been several reports suggesting that the company might be a scam broker. In this article, we will review Alt-exhange.com, its services, and the allegations of fraud against the company.
Company Overview
Alt-exhange.com is an online trading platform that provides trading services to clients worldwide. The company is registered in the Marshall Islands and claims to have offices in the UK, Switzerland, and Cyprus. The company’s contact address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands.
Broker Name | Alt-Exchange Ltd. |
Website | https://alt-exchange.com |
Location | Unspecified |
Regulation | Unregulated |
Warning | Multiple |
Team
The team behind Alt-exhange.com is unknown, as the company does not provide any information about its management or staff. This lack of transparency is a red flag, as reputable brokers usually have a dedicated “About Us” section on their website, introducing their team and providing information about their experience and qualifications.
Services or Products
Alt-exhange.com offers a wide range of financial instruments, including Forex, CFDs, and cryptocurrencies. The company claims to provide competitive spreads, high leverage, and a user-friendly trading platform. However, there have been several reports suggesting that the company’s services might not be genuine.
Trading Platforms
Alt-exhange.com offers the popular MetaTrader 4 platform for trading. The platform is known for its advanced charting tools, technical indicators, and automated trading capabilities. However, there have been reports of technical glitches and frequent platform crashes, which can cause significant losses for traders.
License and Regulations
License Status
Alt-exhange.com claims to be registered and regulated by the International Financial Market Relations Regulation Center (IFMRRC). However, it is important to note that the IFMRRC is not a reputable regulatory body, and its registration does not carry much weight in the industry.
Regulation Status
Alt-exhange.com is not regulated by any reputable financial authority, such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC) in Australia. This lack of regulation is a significant red flag, as it means that the company is not subject to any oversight, and clients are not protected by any investor compensation schemes.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers is risky because they are not subject to any oversight, and clients are not protected by any investor compensation schemes. Unlicensed brokers can engage in fraudulent activities, such as price manipulation, misappropriation of client funds, and refusing to honor withdrawals.
Legal Warnings Against Alt-exhange.com
Several financial regulators have issued warnings against Alt-exhange.com, including the Financial Services and Markets Authority (FSMA) in Belgium and the Securities and Futures Commission (SFC) in Hong Kong. The warnings state that the company is not authorized to provide financial services and may be a fraudulent entity.
Client Feedback About Alt-exhange.com
About Trading
Many clients have reported negative experiences with Alt-exhange.com, including problems with withdrawals, technical glitches, and poor customer service. Some clients have also reported that the company engages in price manipulation, which can cause significant losses for traders.
About Customer Service
The experience with the customer service department of this broker is not good at all. Many traders complained about their bad experiences with the customer service department.
How Can FXfarmupdate Help You If You Get Scammed?
FXfarmupdate is a leading online portal that provides information and support to traders who have been scammed by fraudulent brokers. We offer a wealth of resources, including a list of known scam brokers, tips on how to identify and avoid scams, and guidance on how to recover funds from fraudulent brokers. After your case submission, you will have a free consultation and service recommendation to help you in fund recovery.
Final Thought
Based on our review, Alt-exhange.com appears to be a fraudulent entity that engages in price manipulation, misappropriation of client funds, and poor customer service. The company’s lack of transparency and regulation, coupled with the numerous legal warnings against it, should serve as a warning to any potential clients.
