September 17, 2020

AlphaCryptoTrades Review

Overview

AlphaCryptoTrades which operates on the domain www.alphacryptotrades.net is a relatively new financial trading platform. Read the full AlphaCryptoTrades review here. The website was registered last year in the month of September. However, there is no information about the owners of the company, also the information of the website owner has been kept hidden. The company has an address for Burlington, Massachusetts mentioned on their website, however there is speculation that the company is registered in Nigeria. The company has a beautiful looking website, but has mentioned very scarce actual information that a potential investor needs. While we know the platform lets you deal in CFDs in various currency pairs, forex and cryptocurrencies like BitCoin, there is not information shared about the various spreads it offers. There is also no mention of leverage it has to offer to different account types.

About AlphaCryptoTrades

It is a gruelling task to find information about a company that seems to intentionally hide or misrepresent it’s information. While the company on it’s landing page advertises that it is a regulated system, there is no real information about the licences they hold or what financial regulator bodies recognize them as financial service providers. The truth, as discovered by some internet watchdog groups, seems to be that the company is unregulated and has no legal right to offer any financial services to people of any major country. Government regulators bodies like ASIC in Australia, SEC in the US and FCA in the UK, all warn it’s residents to not invest with brokers who do not have a valid license.

While the company suggests it has an office in Massachusetts, USA, they employ VoIP services to call potential investors, and seem to be targeting people from the US, Europe and Australia. Since they use VoIP, they can claim to be from anywhere on the globe. They also seem to be employing social media like Twitter and Instagram to target people who could potentially be swayed into investing with a new broker. The internet however is filled with negative outpour and complaints against the broker with a variety of watchdog and website monitoring sites deem the website to be untrustworthy.

Another peculiar thing about the broker is that it uses a web based trading platform, developed by a company called Finantick. While many brokers use customized platforms instead of the market popular Meta Trader 4, the peculiar thing here is that the same platform is used by a lot of scamsters because of how easy to setup this platform is and how meagre capital it requires.

The Verdict

AlphaCryptoTrades is an unregulated, un-licensed company that seems to mislead potential investors using the word regulated on it’s home page. The company also has very little verifiable information about it to offer. Even trading information, apart from a few account types, is non-existent. Based on these factors, it is safe to say that investors should be very very careful and should find out more before thinking of investing with AlphaCryptoTrades.