AlphaCapital Review Scam Complaint
AlphaCapital is a forex and CFD broker based in Estonia. Its website has very scarce corporate information about AlphaCapital. There is only a contact number mentioned with a UK code and an address in Estonia on the website. The website doesn’t feature any owner company or group name, nor mentions anything about its regulation. The broker offer three types of accounts, namely, Standard, Gold and VIP, along with trading on MT4 platform. If you are thinking whether to invest with this broker or not, make sure to go through this review first.
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About the AlphaCapital:
AlphaCapital uses MetaTrader4 (MT4) platform just like other 80% of the forex brokers worldwide. The reason is, this trading platform is highly praised by traders and brokers as well due to its ease of use and advanced functions. The MT4 platform offers best quality of charting, flexible options of customization, and is especially popular for its automated trading bots called Expert Advisers. AlphaCapital offers traders generous leverage ratio of up to 1:500. One of the fishy things about the company is that it has not clarified essential conditions for trading such as the minimum investment, spreads and the leverage levels provided on the website.
When the spreads are considered, clients claim that it offers 1.8 pip which is higher than the average pip offered by the industry. Moreover, AlphaCapital is trading in less than 30 currency pairs, gold and silver on its demo account. AlphaCapital is an unregulated broker who is not allowed to operate on regulated markets like the EU, USA, Canada or Japan. But, the broker seems to target majorly European investors, as the languages that its website supports are European languages. It’s a suspicious broker who is working from behind the windows.
Is AlphaCapital legit or scam?
AlphaCapital is an unauthorised and unregulated brokerage comapany. The legal documents that the company has uploaded on its website feature the name of another domain alphacapital.fm . This domain was blacklisted by the Italian Financial Authority, CONSOB, which ordered the company to stop providing financial services illegaly in the country. AlphaCapital is a scam broker as its website is complete anonymous, the broker is not legit and is unregulated and there is no details regarding the conditions of trading offered by the broker. Most importantly, Italian authorities have also warned against the broker, so it is a scam broker and you are advised to avoid trading with this trader.