Alphabetfx Review Scam Complaint
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Alphabetfx is a Bulgarian forex and CFD broker, launched their website in 2017. It is an unlicensed brokerage company owned and operated by Triple 15 Ltd. It offers four types of accounts, namely Basic, Silver, Gold and VIP account. These trading accounts are offered on the Meta Trader 4 platform. If you are willing to open an account with them be sure to read this review first.
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About the Alphabetfx:
Alphabetfx offers its clients many underlying assets like trading on CFD’s including all the popular Major & Minor Forex Pairs, Market Indices, ETF, Stocks, and Commodities like Oil and Gold. It provides leverage of up to 1:500 and professional traders use leverage up to 1:200, therefore such an aggressive trading style comes with risk of losing money faster. The broker offers MT4 platform to its clients, which has features that most traders enjoy and prefer. Alphabetfx provides modes of payments like credit/ debit cards featuring Mastercard and Visa, e-wallets and bank wire. One can open a Basic Account with Alphabetfx by depositing $250, for Silver Account it requires $2500, for Gold $5000 and for VIP Account the amount is undisclosed amount. The amount of deposit asked by the broker is very high compared to other legit brokers.
It should be noted that Alphabetfx offers not much assets just 23 basic forex pairs with no exotic currencies. Still it asks for so much of initial deposit for basic account. The rest of the trading instruments that it offers are CFDs on gold, indices and some stocks. Not any details regarding the trading history and clients are mentioned on the website of the broker.
Is Alphabetfx is legit or scam?
Alphabetfx is an unlicensed broker and that by definition means low credibility. The brokers is Bulgarian based and according to the Bulgarian Law, all the forex and CFD brokers operating in the Bulgaria should be licensed by the Bulgarian Financial Supervision Commission or a similar financial regulator in another EU country. But, according to the Bulgarian Financial Supervision Commission registers the company is not listed there, this means it is a scam broker and not safe to trade with. The problem with this broker is that they have not disclosed their employees or corporate identity. This information is not available because Alphabetfx is not overseen by any authority. They do not have a license for offering CFDs too so it’s not safe to handover them our money.