AlphaCapital

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. 

About Alpha Capital
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is Alpha Capital safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

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.

AlphaCapital Review

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.

AMarkets

  1. What is AMarkets?
  2. Is AMarkets regulated?
  3. Is AMarkets a scam?
  4. AMarkets in India
  5. AMarkets in the USA
  6. Deposits and Withdrawals
  7. Apps
  8. Demo Account
  9. Conclusion

Is AMarkets a scam or a legit broker?

AMarkets is not one of the secure Forex Brokers since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

What is AMarkets?

AMarkets is a Forex and CFDs broker that provides trading through the MT4 and MT5 trading platforms. Providing brokerage services in the CIS countries, Asia and Europe, AMarkets focuses on offering high-quality services and comprehensive support to its clients and partners.

About AMarkets
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is AMarkets safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Licenses & Regulation

Is AMarkets regulated?

It is not safe to trade with AMarkets as it is an offshore broker. AMarkets is registered by the Financial Services Authority (FSA) of Saint Vincent, registration No. 22567 IBC 2015. AMarkets is a member of The Financial Commission, an independent external dispute resolution (EDR) organization.

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.

Is AMarkets a scam?

According to the website, AMarkets is a Member of the Financial Commission, which settles disputes between financial market participants, and provides protection for each of our clients with the Commission’s compensation fund, for up to 20 000 EUR per case. Even though FinaCom is a well-respected organization, it is a self-regulatory organization that cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

AMarkets in India

AMarkets has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker does not hold any license from the regulatory body in India. This means, that the investments with the broker might be at risk. 

AMarkets in the USA

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

Deposits and Withdrawals

The minimum deposit to start trading is $100/€100. To be able to fund your trading account, you have to complete the identity verification (Also read about Fortrade minimum deposit). 

AMarkets does not charge any additional commission on withdrawal in its favor. When withdrawing funds from your account, you only pay transaction fees charged by the payment system. The payment system might also deduct the fixed commission on withdrawal.

The broker offers the following payment methods: VISA, MasterCard, Bank Transfer, ADVcash, Skrill, WebMoney, Perfect Money, FasaPay, Neteller, TopChange. 

Apps

AMarkets offers its traders MT4 Mobile and MT5 trading options for both iOS and Android. With smartphones, forex traders no longer need to be tied up to their desks, spending hours watching their trading screens. Instead, they can monitor the markets through their mobiles whenever they are. Mobile trading with MT4 allows you to have complete control over a trading account and trade from anywhere 24/5.

The MetaTrader 5 (Check the best MT5 brokers here) custom trading app condenses the core features of the desktop platform into a simple and user-friendly smartphone interface. Trade on the go in your iOS or Android device and access current price quotes, analyze data with customizable candlestick and line graphs with the tap of a finger.

Demo Account 

AMarkets offers a demo account so you can try the AMarkets platform with virtual trading before you put down a payment. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option. Also check FBS Broker Review that offers Demo account.

Conclusion

Even though the trading offering might seem attractive, in our opinion, you may find something more interesting among the regulated brokers. But an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. For that reason, we would advise choosing the broker more carefully and check on at the first step the broker’s regulation status. The reputable firms that hold FCA, FINMA or other licenses are established in accordance to the international standards, protecting clients at every step and even compensating the trader in case if the things go wrong with the company. 

So of course, we always advise only regulated firms to trade with, as the market trading business with its decentralized nature, unfortunately, attracts many scammers, and the trader should carefully check where to invest money and trade.

Yet, it is always great to hear your personal opinion about AMarkets. So you may share your experience or thoughts or discuss them below or ask us for additional information.

Uptos

  1. What is Uptos?
  2. Is Uptos regulated?
  3. Is Uptos a scam?
  4. Uptos in India
  5. Uptos in the USA
  6. Deposits and Withdrawals
  7. Apps
  8. Demo Account
  9. Conclusion

Is Uptos a scam or a legit broker?

Uptos is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

What is Uptos?

Uptos claims to be a leading foreign exchange broker with competitive trading conditions (See the Best Regulated Forex Brokers). This multi-asset trading platform offers over 250+ products across multi-asset classes such as currencies, stocks, commodities and energies, derivatives, and many more. The broker also provides MetaTrader 5 platform (Check out MT5 brokers’ list) and leverages up to 400:1.

About Uptos
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is Uptos safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

Licenses & Regulation

Is Uptos regulated?

It is not safe to trade with Uptos as it is an offshore broker. Uptos LTD is registered and operates as a financial investment company under the laws of St. Vincent and the Grenadines.

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.

Uptos - official website

Is Uptos a scam?

Moreover, Uptos has been blacklisted by the Italian regulator CONSOB:

“CONSOB  availed itself of the powers deriving from the “growth decree” regarding the blackout of the sites (including Uptos LTD (website www.uptos.net) of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of 28 February 2020, regarding the blackout of the site through which the abusive bid is made.”

The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As Uptos got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.

Uptos in India

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

Uptos in the USA

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

Deposits & Withdrawals

The minimum deposit is $250. Traders can deposit with Credit/Debit Cards, American Express, PayPal, Skrill and Wire Transfer. The broker does not charge any deposit fees. 

Apps

The broker offers an UpTrader platform. The platform offers advanced financial trading functions, as well as superior tools for technical and fundamental analysis. UpTrader can also trade automatically by using trading robots and trading signals. In addition to the desktop and mobile versions, the platform is available on the web and can be accessed from any device. UpTrader is available on Windows, Android and Apple.

Demo Account

Uptos does not offer a demo account.

Conclusion

Even though the trading offering might seem attractive, in our opinion, you may find something more interesting among the regulated brokers. But an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. For that reason, we would advise choosing the broker more carefully and check on at the first step the broker’s regulation status. The reputable firms that hold FCA, FINMA or other licenses are established in accordance to the international standards, protecting clients at every step and even compensating the trader in case if the things go wrong with the company. 

So of course, we always advise only regulated firms to trade with, as the market trading business with its decentralized nature, unfortunately, attracts many scammers, and the trader should carefully check where to invest money and trade.

Yet, it is always great to hear your personal opinion about Uptos. So you may share your experience or thoughts or discuss them below or ask us for additional information.

UBCFX

  1. What is UBCFX?
  2. Is UBCFX regulated?
  3. Is UBCFX a scam?
  4. UBCFX in India
  5. UBCFX in the USA
  6. Deposits and Withdrawals
  7. Apps
  8. Demo Account
  9. Conclusion

Is UBCFX a scam or a legit broker?

It is not safe to trade with UBCFX as it is an offshore unregulated broker. UBCFX is owned and operated by the United Ventures LTD, registered in the St. Vincent and the Grenadines. 

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.

What is UBCFX?

UBCFX is a global online forex broker, which offers some of the tightest spreads in the market for forex trading, through its innovative and user-friendly trading platforms. The broker promises easy access to profits and trading itself through a diversified range of trading instruments and innovative software. It also offers its traders interactive courses for learning trading strategies, 24/5 customer support service and end-to-end execution with some of the world’s premier banks/financial institutions.

About UBCFX
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is UBCFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Is UBCFX regulated?

UBCFX is a trading name of the company incorporated in Saint Vincent and the Grenadines, which is an offshore zone with no implemented regulation for Forex business.

In regards to the company background, in order to establish a business in SVG, the company should just register firm with a very small capital and then to perform business in a way they see it right. That means that UBCFX delivers financial trading service with no supervision of international authority, there are no operational standards implemented or not regulated by the entity.

UBCFX Review

UBCFX in India

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

UBCFX in the USA

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

Deposits and Withdrawals

UBCFX offers a wide range of secure online payment options for deposits and withdrawals, making funding easy, fast, and secure. UBCFX covers all fees for Deposit. Traders can deposit with Credit/Debit Cards, NETeller, Skrill, DixiCard, Interac, Bpay and Wire Transfer. 

Apps

The MetaTrader 5 platform (Find out MetaTrader 5 brokers here) integrates a broad variety of assets and financial instruments. Its broad functionality allows for the implementation of multiple investment strategies at current market prices, supports pending orders with a present lifetime, and boasts compatibility with various analytical instruments such as Elliot tools, Fibonacci and Gann.

The MetaTrader 5 custom trading app condenses the core features of the desktop platform into a simple and user-friendly smartphone interface. Trade on the go in your iOS or Android device and access current price quotes, analyze data with customizable candlestick and line graphs with the tap of a finger.

Demo Account

UBCFX also offers a demo account.The Demo Account is provided to give traders a demonstration of the broker’s trading platform and to offer traders the opportunity to trade on simulated real trading conditions. This further allows the trader to gain more experience prior to trading with real funds and facing actual risk. Traders may test their trading strategies and become familiar with the trading platform at their own pace.

Conclusion

Even though the trading offering might seem attractive, in our opinion, you may find something more interesting among the regulated brokers. But an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. For that reason, we would advise choosing the broker more carefully and check on at the first step the broker’s regulation status. The reputable firms that hold FCA, FINMA or other licenses are established in accordance to the international standards, protecting clients at every step and even compensating the trader in case if the things go wrong with the company. So of course, we always advise only regulated firms to trade with, as the market trading business with its decentralized nature, unfortunately, attracts many scammers, and the trader should carefully check where to invest money and trade.

Yet, it is always great to hear your personal opinion about UBCFX. So you may share your experience or thoughts or discuss them below or ask us for additional information.

MetaFinanceTrade

  1. What is MetaFinanceTrade?
  2. Is MetaFinanceTrade regulated?
  3. Is MetaFinanceTrade a scam?
  4. MetaFinanceTrade in India
  5. MetaFinanceTrade in the USA
  6. Deposits and Withdrawals
  7. Apps
  8. Demo Account
  9. Conclusion

Is MetaFinanceTrade a scam or a legit broker?

MetaFinanceTrade is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority (See our reviews on Top Regulated Forex Brokers). Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

What is MetaFinanceTrade?

MetaFinanceTrade offers to trade up to 80 major, minor and exotic currency pairs with competitive spreads and 0 commission.You can trade as little as 1 share on all share CFDs with no commission. They offer more than 300 popular stocks from the US and the EU. The company also offers a web based platform with easily customisable watchlists, trading charts and its own MetaFinanceTrade Trade Assistant.

About MetaFinanceTrade
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is MetaFinanceTrade safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerIC Markets - licensed by ASIC in Australia
 

License & Regulation

Is MetaFinanceTrade regulated?

It is not safe to trade with MetaFinanceTrade as it is not regulated. MetaFinanceTrade Ltd claims to be a Luxembourg Investment Firm registered with the Commission de Surveillance du Secteur Financier and under CIF authorization number 357/18. The registered office of the Company is situated at 51 Boulevard Grande-Duchesse Charlotte, 1330 Luxembourg

The broker also claims to have offices in the US and Luxembourg. However, there is no mention of this broker in the online registers of both Commission de Surveillance du Secteur Financier (CSSF) and the Cyprus Securities and Exchange Commission (CySEC). The broker is not regulated and has been misleading its clients with false regulatory information.

In simple words, MetaFinanceTrade is a perfect example of a clone firm. Clone firms use some or all of the details of a genuine entity, aiming to convince investors they are indeed the authorized company or that they work with them. Fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the ‘firm reference number’ (FRN) we have given the authorised firm or other details. Such companies should be avoided at all costs.

Is MetaFinanceTrade a scam?

Moreover, the Cyprus Securities and Exchange Commission has included MetaFinanceTrade in its warning list:

“The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the following websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.”

The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As MetaFinanceTrade got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by numerous EU authorities.

MetaFinanceTrade in India

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

MetaFinanceTrade in the USA

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

Deposits and Withdrawals

The minimum deposit for all methods of deposits in a trading account with MetaFinanceTrade is Euro 50.

The available funding options and deposit time frames are:

Deposits by Debit card or Credit card take approximately 3 business days, often less to process into your trading account. As much as MetaFinanceTrade shall ensure immediate action to process and clear deposits by bank wires, these may take approximately up to one 1 business day to receive and process into your trading account.

MetaFinanceTrade has funding methods for multiple currencies. If you deposit funds in a currency other than the denomination of your trading account, they will automatically convert it to the denominated currency at an exchange rate applicable on the date and time of the transaction. 

MetaFinanceTrade does not charge any administrative fees for depositing funds.

The minimum withdrawal amount is EUR 50.00 for all payment methods.

Apps

MetaFinanceTrade provides its traders with a Trade Assistant. It is a unique educational tool designed to help you place your trades. It has been developed with beginners in mind(Best Forex Trading Platforms for Beginners) but can be used by anyone who wants to understand core trading concepts – such as CFDs, leverage, margin, exposure – through short and easy-to-understand explanations, contextual examples, and built-in dynamic calculators.

Demo Account 

MetaFinanceTrade does not offer a demo account.

Conclusion

We advise all investors and traders to avoid MetaFinanceTrade and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.com.

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