AlphaCapital Review (2023)

Is AlphaCapital a scam or a legit broker?

AlphaCapital has been suspected as a scam broker. This broker is blacklisted by a well-known regulatory authority and should be avoided. AlphaCapital is owned by Alpha Capital Securities Ltd which is an offshore company registered in the Marshall Islands. The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex and more.

What is AlphaCapital?

AlphaCapital claims its leading global brokerage positions while providing smart, secure trading solutions for investors at every level (Explore Top Forex Brokers‘ List). In addition setting the bar higher with cutting edge, trough tool-rich trading platforms, low latency and superior liquidity provided by the leading institutions to trade Forex and Equity markets. AlphaCapital offers a wide range of trading options, including currency pairs, such as the EUR/USD; commodities, like oil or gold, and indices like the Dow Jones and the Nasdaq. 

Is AlphaCapital regulated?

The broker is a trading name of the Alpha Capital Securities Ltd located in Tallin, Estonia while is regulated or authorized by none of the reputable organizations alike FCA (UK), BaFIN (Germany) (Also read about BaFin Regulated LegacyFX) or even the local regulator in Estonia. Moreover, the payment provider of the AlphaCapital is mentioned a Nostro Technology OÜ, based in Tallinn (Estonia), however, ‘Nostro Technology OÜ is a subsidiary of FGM Technology Ltd’, with offices in the Marshall Islands. However, the fact is that Marshall Islands is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation.

While all establish of the business and trading delivery seems to be highly suspicious, the reputable authority CONSOB and others issued a warning to the public due to their concerns about AlphaCapital too. 

“Order, pursuant to Article 7 of Legislative Decree to cease the infringement of Article. 18 of the Consolidated Law on Finance performed via the www.alphacapital.fm website that is registered in anonymous form by a user whose identity is not known. Having established that the operations in question can be classed as the professional provision of investment services involving financial instruments to the public, the company order the cessation of the infringement.”

CONSOB, Italy. April 2018

In addition to the official statement, the negative reviews from the traders that confirms a suspicious questioning to the broker. Since the clients faced “sudden disappear” of replies or any concerns while the funds were requested to be withdrawn. Overall, we do not recommend to trade with AlphaCapital and advice to choose among reputable firms to trust.

AlphaCapital in India

AlphaCapital allows Indian traders to open accounts and trade. However, AlphaCapital has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading in India is actually prohibited. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

AlphaCapital in the USA

The United States is one of the countries that is not accepted by AlphaCapital. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for AlphaCapital, you are only permitted to trade with the U.S regulated platforms.

Deposits and Withdrawals

Each account type (Also find another broker MEX Exchange’s account types here) has its own minimum deposit requirements. However, the broker does not disclose the amounts that need to be deposited. 

Alpha Capital accepts a wide range of deposit methods, including bank transfers, a variety of credit cards.

Alpha Capital provides payment options based on the deposit methods through which the account was funded. In the case of payment services such as Western Union or CashU, for which accounts do not exist, Alpha Capital will transfer your withdrawal amount directly to your bank account.

Apps

AlphaCapital’s user-friendly mobile platform is compatible with both Android and Apple devices. The platform offers hundreds of available assets, live streaming quotes and complete account management capability, enabling you to choose from multiple order types, and view your trading history antl account status at a click Trade from any location, at any time, benefiting from a rich basket of tools and features, including professional interactive charts, advanced technical indicators and a selection of effective risk-management tools. 

Demo Account

AlphaCapital offers its traders a demo account that allows to hone the trading skills on a free demo account. Traders can gain experience and familiarize themselves with all the valuable tools and features offered on the ALPHA CAPITAL platform, before opening a live account and investing for real in the global financial markets. Read about FBS Broker which also offers Demo account here.

Conclusion

In any case, we never advise trading with a non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk. 

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers, Forex Brokers Australia or ASIC regulated brokers in Australia and reliable brokers such as FP Markets and TMGM.

You can also share your trading experience with AlphaCapital by commenting on this review.