Alpha Tradex Review
The offshore forex broker Alpha Tradex has several trading assets. It provides leverage of 1:500 on the leading MetaTrader trading platform. Sadly, the Alpha Tradex does not possess a valid licence to operate in regulated markets like Australia, USA, Europian Union and more. In this Alpha Trdex review, we will ensure that we miss no information about this broker. We request you to read the full Alpha Tradex review and follow it thoroughly.
About Alpha Tradex:
The most beneficial aspect of Alpha Tradex is its clients will get access to over fifty foreign exchange currency pairs. These include FX pairs like USD/RUB, USD/NOK, USD/MXN, USD/ILS, USD/HUF, USD/DKK, USD/ZAR, USD/TRY, USD/SGD, USD/SEK, USD/PLN, USD/CHN and USD/HKD. Apart from this, it also offers CFDs for over twenty-three assets containing precious metals, natural resources, processed goods and farm produce. Sadly, only one commodity is left behind by Alphs Tradex that is cryptocurrency.
The broker offers higher leverages of 1:500 on its accounts. Such higher leverages also banned in regulated markets such as Australia and New Zealand. It is one of the precautionary measures taken by financial regulators. The Alpha Tradex is also making sure that its clients can avail all kinds of payment options. The broker accepts payments via all cards, eWallets, and bank transfer. But it does not accept payments of cryptocurrencies. Another advantage of Alpha Tradex is that traders can start trading with $50 only. The spread available at Alpha Tradex is floating at 1.5 pips and are acceptable to many traders. It also offers to trade on leading trading platform MetaTrader.
The major downside of Alpha Tradex is that it is not registered and an unregulated firm. The Alpha Tradex LTD is the owner of brand name Alpha Tradex that situated in Saint Vincent and the Grenadines. The local regulatory body of SVG does not offer any license to such CFDs and forex brokers. It means no one has control over the operation of Alpha Tradex, and if scam occurs, there will be no one accountable. Also, the terms and condition of this broker read that it operates as a Market Maker. Meaning the broker itself is not a proper broker, but it acts on behalf of other brokers. The withdrawals at Alpha Tradex comes with many unacceptable fees.
Is Alpha Tradex Scam or Legit?
Alpha Tradex is an unregulated broker. The offered services and products are attractive, but trading conditions are unattractive. Our discussion above proves that the broker wants to attract as many clients possible, but in return, they will lose funds. The Alpha Tradex is a potential Australian trading scam. Stay as far as possible from such brokers.