Alpha24Trade Review Is Alpha24Trade.com A Legit Forex Broker

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Alpha24Trade Review: Is Alpha24Trade.com A Legit Forex Broker?

Alpha24Trade.com Review: this is the website of a Forex brokerage that operates from an offshore region but alleges to be registered in Cyprus. Is Alpha24Trade a scam brokerage? Read what our investigation reveals about this company before doing anything else.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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Alpha24Trade discloses that it is based in Saint Vincent and the Grenadines. It also mentions that it is linked to Wallfort Limited, in Cyprus. Forex activities in the region are under the jurisdiction of the Cyprus Securities and Exchange Commission (CYSEC). When we checked the online register of the authority, there was no mention of the broker or its parent company.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of Alpha24Trade

Alpha 24Trade also boasts of an “excellent trading platform” with multiple deposit options. Withdrawals are allowed instantly and at a trader’s comfort. Further, it offers a customizable interface to fit client’s needs better.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Alpha24Trade Trading Platform

No useful information is provided about the trading platform provided for clients of the Alpha24Trade Forex broker. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not listed, it only mentions that it allows investment “in the world’s most popular assets”. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

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The maximum leverage offered to clients is undisclosed and so is the spread used. Take note that some leverages are generous but may lead to loss of funds.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Alpha24Trade

The means of making deposits and withdrawals with this broker are VISA, MasterCard, bitcoin, and PayPal. We are discouraged that popular e-wallets are not allowed.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required is $100 and this is good because it is within the average of $100 – $250 common among brokers. The withdrawal conditions of this broker are not listed, which is suspicious.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

It is also important to note that this brokerage wants traders to believe that they can get a 124% ROI in 24 hours and even 1000% in one month. This is simply ridiculous if the company is truly trading in the unpredictable world of Forex markets.

Is Alpha24Trade Licensed?

No. Alpha24Trade is not a licensed brokerage and cannot be trusted. It falsely claims to be registered in Cyprus while it operates from an offshore location. Even if anyone comes across a mention of licensing from this firm, so long as it is based in the offshore location, it is not likely to be a trustworthy one.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get more information about this broker, contact customer support services via the message link on the page.

Conclusion

Alpha24Trade has proven to be a broker unworthy of trust and thus, we rate it low. It does not reveal enough information for us to go on with and tries to falsify some claims. Do not invest with any company promising returns that sound too good to be true. It requires an affordable minimum deposit but it is not worth the risk.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.

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