ALB Prime is a financial services provider from Malta, where they are registered and regulated. Aside from that fully legitimate business, they also have a branch registered in SVG. The recently incorporated offshore office isn’t regulated under jurisdictional supervision and doesn’t bear a license for serving customers out of EEA.
What this exactly means and how it can affect you as a trader is explained in the following ALB Prime review. Make sure to read it if you want to get familiar with potentially risky acts that some even regulated brokers engage in.
https://albprime.com/
www.alb.com
ALB Limited is the company that owns ALB Prime. The headquarters are in Malta and the MFSA license number C 79767 stands. You can find the company in the MFSA register by using the following search engine: https://www.mfsa.mt/financial-services-register/. ALB Limited also owns a CONSOB and BaFin passport. Previously also authorized by FCA, the license no longer persists after Brexit.
Since 2021, ALB Limited has also been incorporated in SVG, where they have registered their business. Non-EEA customers are directed from alb.com to two other domains to use their brokerage services.
The problem with the SVG registration is that it is not enough to run a legitimate business. SVGFSA doesn’t regulate brokers. Therefore, ALB Prime needs another regulation. However, except for the one from MFSA, they do not have another.
What makes ALB Prime especially attractive to more advanced traders is the possibility to trade under higher leverage and handle greater risks. However, novice traders do not have it so easy and can experience loss. Still, because the owning company is fairly well regulated, that gives the customers space to form trustful bonds.
Besides that ALB Prime offers commissions on turns per trade from $0 and the starting trading costs are from 0 pips. All of that will certainly sound likable to traders, whether they’re beginners or everyday investors.
Again, we’d just like to remind all the traders who fall under the offshore branch as their service provider to be cautious. Doesn’t matter if the main company is well regulated when the office providing services to you is not.
As an offshore branch, ALB Prime is able to cover significantly more customers than the MFSA regulated main service provider. That, however, doesn’t mean that the SVG incorporated firm doesn’t need a proper license. From the statistics, it seems that the most of the customers come from the below listed countries in general:
Trading under SVG entities bares a huge risk. So do contact us if you’re having difficulties recovering your funds from any of the brokers there. We have the means of forcing your payouts.
Even more impressive than its predecessor, MT5 continually brings success to traders worldwide. Always preferred before a ton of other platforms made after it, MT5 provides exceptional speed and execution quality. ALB Prime has made it available for their users to trade through it across every device and operative system. There’s a desktop version for Windows and Mac, and the Android and iPhone version is also compatible. So, in that sense, the broker doesn’t disappoint.
The importance of being able to trade on the go keeps growing. Because of the severe lack of time to dedicate to online trading, an abundance of investors prefers mobile trading apps. MT5 has their terminal adjusted for use on mobile devices, while still delivering the maximum performance.
There’s several groups of tradable assets available at ALB Prime. CFDs are being more traded than ever and their popularity keeps growing. However, the total number of instruments isn’t that big and they’re all listed on the website. The following financial instruments groups can be found at ALB Prime:
ALB Prime broker has several account types to offer:
Except for the leverage being a maximum 1:200 for each package, other specifics are not disclosed. Not even the costs of all the accounts. The site doesn’t reveal all the particulars the accounts feature until you sign up, deposit, and provide all the verification documents, including your payment resources.
During a limited time, ALB Prime allows Demo trading on MT5. The initial available margin is the standard $100 000. Brokers wanting to sell their services quicker tend to alter the Demo conditions to make trading seem easier and more attractive. Be cautious of that.
ALB Prime claims to put zero commissions on trading. The spreads are quite low, and depending on the instrument, they can start with as low as 0.6 pips on EUR/USD. Of course, those are the lowest possible spreads. These parameters may always vary, as it depends on the market fluctuation and price changing.
One fee that appears for certain is the annual administration fee of $25.
The broker also claims not to charge transfers, whether they pertain to account funding or withdrawal of funds. Such extraordinary conditions sound like they could make the firm bankrupt, so we take this data with a grain of salt.
The biggest problem revolves around the payouts at ALB Prime. No stand-alone document on the site walks you through the steps of the procedure. The single section on the website – Deposits & Withdrawal page only mentions the deposit methods and the funding fees being zero.
Terms Of Service is another doc that should be more thorough on these elements, but it is not. The broker hints that the customer is solely responsible for the bank provider fees paying and that’s it. Shallow and not informative enough, we consider ALB Prime to be not transparent enough about this sector of their business.
Additionally concerning fact for non-EEA customers is the fact they’re served through an offshore entity, which are known for withdrawal issues.
While ALB Prime is MFSA regulated with several passports for EU activities, their international clients and all other investors fall under the regime of the SVG-based ALB Prime Ltd. The latter is not regulated and imposes a significant risk on customers that are located in non-EU countries. The leverage is increased, the security not as reliable and the general risk is higher. Withdrawal issues are also expected.
If it so happens that you’re their customer and experiencing issues that ALB Prime support isn’t helpful enough with, you can contact the chargeback experts we employ.
ALB Prime only has a MFSA regulation and CONSOB and BaFin Passports. FCA passport has expired after Brexit. Non-EU customers are served through a SVG-based entity not falling under any regulation.
Withdrawals are started through the client panel and require uploading KYC documents. If you’re having trouble retrieving your funds, you can contact us for legal help.
This costing is given on the website and it is $500.
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