Alfa Financial LLC is a brokerage company that claims to offer Forex and CFD trading services. The enterprise is based in Dubai, United Arab Emirates (UAE), and the website asserts that it is regulated by the Central Bank of the United Arab Emirates.
The CBUAE enforces strict rules which include a minimum operational capital requirement of at least 272,000 USD. Furthermore, the central bank requires that at least 60% of it is in national shareholding and the acting intermediary has to be a UAE citizen.
So the suspicious broker is not operating legally. Hence, we strongly recommend that you avoid this platform and instead find a licensed provider that’s actually regulated by CBUAE or any other reputable financial market watchdog for that matter.
Top-tier regulators such as the FCA (UK), CFTC (US), ASIC (Australia), CySEC (Cyprus), BaFin (Germany), etc. require brokerage companies to possess a substantial minimum operating capital (i.g. 730,000 EUR or 1,000,000 AUD), offer clients negative balance protection, a segregated account, and even a compensation scheme (i.g. up to 20,000 EUR).
Alfa Financial LLC has very few trader reviews, which is odd for a company that boasts such high status. We also found some dirt regarding the honesty of the reviews on forums.
We have waited over 1 month for withdrawal of money from this broker. We have discovered bad things about this people during this time… ALFA Financials office in Abu Dhabi not registered with Central Bank UAE. Only Deira office… many people loose money from them.. Don’t invest with them.. Withdraw all you money from these company now…
The alfa financial llc forex scam is quite sophisticated. A fake license, non-existent regulations, misleading bank accounts, lies, lies, lies.
Once you notice that your withdrawal request is pending forever, know that your funds are definitely stuck and that you’ll need professional help to get them out. This scenario happened to this unfortunate trader:
I had quite an unpleasant experience with this investment website that held back my earnings when i needed to withdraw. None of my pull-out requests was granted by my personal advisor and i was snubbed severally by him…
If you fell victim to the Alfa Financial LLC scam, you can book a free consultation with us. We can help you recover your funds.
To reiterate, the alfa financial llc cfd platform is unregulated, meaning that trading on this platform is extremely risky. Also, there are several negative reviews that explain why Alfa Financial LLC is a scam.
Alfa Financial LLC is pretty active on social media – Facebook, YouTube, Instagram, Twitter, and LinkedIn. These platforms are the main tools for finding traders.
The first platform that Alfa Financial LLC offers is MetaTrader 4. Known for being a renowned trading software in its own right, MT4 is a cutting-edge trading platform with a wide range of advanced options such as automated trading, multiple timeframes, API integration, a user-friendly interface, etc.
On the other hand, the AX1 platform is not a widely recognized or commonly used trading platform in the forex and CFD trading industry. It’s possible that the AX1 platform is a proprietary platform developed by Alfa Financial LLC specifically for its clients.
Nevertheless, we do not recommend you trade on unregulated platforms because there is a chance that the software is rigged. Your fund could get trapped.
Yes, Alfa Financial LLC offers mobile trading apps. It has versions of both MT4 and AX1 Trader available on Android and iOS system phones. This mobile app comes in handy when you need to trade on the go and also offers neat flexibility.
However, we do not recommend you trade on an unregulated mobile platform because you could end up getting scammed. Pick a licensed platform instead.
The Alfa Financial LLC platform offers several classes of popular trading assets:
Yes, Alfa Financial LLC has included a demo account. This means that you can test the platform out for a free trial period. If you are interested in trading with Alfa Financial LLC, although we don’t recommend it, you’d be wise to first create a demo account and see what’s up, especially if you’re a novice.
Legitimate brokers always include a risk-free demo account for a trial period of, for example, 30 days so that they can test out the platform, get a feel of it, and decide whether they are ready to invest real money to trade. However, once you invest real money, issues start appearing.
Should you experience any withdrawal issues with Alfa Financial LLC, please contact us for help.
Alfa Financial LLC offers clients maximum leverage of 1:100 for Forex trading. Extremely high leverage is a double-edged sword that can tilt toward big profits but more often results in huge losses. For comparison, the legal leverage cap for retail clients in Europe is 1:30 and in North America and the UAE 1:50.
This platform is not worthwhile. If you cannot get your money out, contact us for help.
Since Alfa Financial LLC’s legal documentation is pretty scarce and lackluster, we do not know anything about the deposit & withdrawal methods and the related fees, processing time, etc. The alfa financial llc withdraw process is a mystery. Such a lack of transparency is alarming.
All we know is that the minimum deposit is a staggering 5,000 USD. That’s an insane amount to risk with this financial swindler. Please do not trust a company that operates in a shady manner and does not specify key information about trading.
Transactions made via popular payment options such as credit/debit cards can be reversed. For instance, MasterCard and Visa card transactions can be reversed via a chargeback, which can be requested at the issuing bank within 540 days of the transaction.
Alfa Financial LLC is a UAE-based broker that offers unregulated trading services mainly to traders residing in the Emirates, India, Iraq, Egypt, and Lebanon. If you’re experiencing issues with Alfa Financial LLC and are unable to withdraw your funds, you can book a free consultation with Global Fraud Protection.
Just to remind you, credit/debit card transactions can be reversed via a chargeback. Wire transfers can be reversed via a recall while crypto transactions require advanced software. We have experts that will gladly guide you through the fund recovery process.
Book your free consultation today and start the chargeback process.
Alfa Financial LLC is definitely not legit mainly because this company is not licensed to provide trading services.
The alfa financial llc minimum deposit is a whopping 5,000 USD. If you’ve deposited this amount, we can help you recover it.
Yes, Alfa Financial LLC offers a risk-free demo account, per the broker’s website.
Alfa Financial did not disclose anything about the deposit & withdrawal process, or the fees.
The post Alfa Financial LLC Review: Why This Platform Cannot Be Trusted appeared first on Global Fraud Protection.
