Alfa Crypx Review: Don’t Take a Chance Dealing with Alfa Crypx
Alfa Crypx has gone to great lengths to convince investors; that they are trustworthy and authorized brokers. They make bogus claims that they have licenses and authorizations in the UK, Canada, and Sweden. They even give us a certificate that seems like it might be a license and a few links to support their claims.
However, in reality, the website is nothing more than a fraud, and a very risky one at that, since they use the legal name and license details of a legitimate and regulated UK company in an obvious attempt to deceive investors and traders. The Alfa Crypx website is an example of a clone. Read the entire Alfa Crypx review to know more about the Alfa Crypx scam.
Regulation
Alfa-Crypx claims that it has licenses and authorizations from the Financial Conduct Authority (FCA) in the UK, the financial regulators in Sweden, and the Canadian and Swedish governments.
Alfa Crypx actually makes the claim that it is affiliated with a business named Cryptopay Limited, and they additionally provide us a link to the business license listed in the UK’s Financial Conduct Authority registers. However, the issue here is that Cryptopay Limited has nothing whatsoever to do with this scam website.
As far as Alfa Crypx’s alleged forex licenses in Sweden and Canada are concerned, we can assure you that they are false.
Alfa Crypx’s False Claims of Association and Licensing
Alfa Crypx has made several claims of association and licensing with reputable companies and regulatory bodies. However, upon further investigation, these claims have proven to be false.
- Alfa Crypx claims to be associated with Cryptopay Limited, but this is not true.
- Additionally, Alfa Crypx is not licensed by either the Swedish Financial Supervisory Authority or the Investment Industry Regulatory Organization of Canada.
- Alfa Crypx also claims to be authorized by a wired entity called Crypto Conduct Authority, but the license certificate they display belongs to AlfaBTC and not Alfa-Crypx.
It is important to exercise caution and do your research before investing in any company, especially if their claims seem too good to be true.
Warnings
Alfa-Crypx has received a warning from the Financial Conduct Authority (FCA) for providing financial services and products in the UK without authorization. The Swedish Financial Supervisory Authority, Finansinspektionen (FI), also issued a warning on March 16, 2023, showing that Alfa-Crypx is not permitted to provide financial services.
The reality is that there are no regulators overseeing Alfa-Crypx. It is risky to allow this broker to hold or handle investors’ money, and there is no legal safeguard for that money.
Trading Platform
Remember that legitimate brokers typically support professional platforms like the industry standards MT4 and MT5. The absence of such tested and dependable trading software is another clear sign that you are dealing with a scam. Alfa Crypx claims to be offering an advanced, web-based platform that “so many have relied upon,” but we were unable to access it, and Alfa Crypx is an outright scam anyway.
Trading Conditions
Alfa Crypx makes the unspecific promise of offering competitive trading circumstances. However, what we have here is fake website fraud.
As far as the utmost leverage is concerned, neither specific information nor the website can be trusted for obvious reasons regarding leverage.
Deposit and Withdrawal Method and Fees
Alfa Crypx claims that they offer several types of payment options, such as VISA, Mastercard, Neteller, and Skrill. However, since we were unable to verify this and the website is a scam, keep in mind that it is quite common for scam websites like this to demand that you make payment in Bitcoins or other crypto coins.
Depending on which section of the presentation you are looking at, the minimum deposit requirement is either 250 USD or as high as 10,000 USD. Of course, such differences are characteristic of swindling websites like Alfa-Crypx.
Conclusion
Alfa-Crypx provides no information about its regulatory status, which is a defining feature of unlicensed brokers. In actuality, there are no authorities overseeing Alfa-Crypx. The money cannot be protected by any laws, so it is risky to allow this broker to retain or control the investors’ funds. As a result, it is a scam broker.
If you are a victim of the Alfa Crypx scam, then file a complaint against the scam broker. Fill out a complaint form on our website and get a free consultation from our experts.
Read about a broker who engaged in a similar scam – Willow Stream Capital review
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