AlfaTrade Review 2025

Is AlfaTrade Scam or Legit Broker?

We advise our readers, not to use AlfaTrade as it is an offshore entity. AlfaTrade is owned by Nemesis Capital Ltd., which is an offshore company registered in St. Vincent and the Grenadine. 

• St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup low cost it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Brokerz, TraderUR, and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

What is AlfaTrade?

AlfaTrade is an online brokerage company that is hard to understand even where the company is located. The Nemesis Capital Limited is a company with a registered address in St. Vincent and the Grenadines, which is a very liberal and easy location to maintain the company. Another additional address of the company claimed to be allegedly located in Europe, Bulgaria while the official telephone number is UK based.

• Currently, the official website claims its maintenance and promises to be back soon, while the trading and all operations are available through the AlfaTrade MetaTrader4. In addition, after some research, we found out that the company was previously registered with FCA (UK), but in 2015 its license was suspended. Overall, it seems the company performs a fishy business while pretending to be a well-established and reliable company that offers forex, CFDs, commodities, and indices to trade.

• In addition, the company's suspicious operations were confirmed by a vast number of complaints, as AlfaTrade targeted and attracted an audience of international clients from various jurisdictions. However, international authorities that regulate the Forex industry based on complaints from clients added the broker to the list of scam alerts and warnings for soliciting traders without a license.

  “The National Commission for Companies and the Stock exchange reports that the companies Nemesis Capital Limited and Nemesis Capital Bg Limited are not authorized to provide investment services”

  CONSOB, 2016

  “Nemesis Capital BG Limited, doing business as www.alfatrade.com is not registered in Ontario, Canada to engage in the business of trading in securities.”

  Ontario Securities Commission, 2016

AlfaTrade Review Conclusion

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

AlfaTrade Update

Our research showed that AlfaTrade is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.