A warning is already out regarding Alfa Assets Group Limited, and two regulators are unhappy. CNMV and the FSMA have officially blacklisted the platform for misconduct. According to the regulators, alfa-assets.com is violating the rules of forex investment and trading. We will be looking closely at why this platform is such a menace to investors. Make sure you go through this detailed ALFA ASSETS GROUP LIMITED REVIEW for more.
When it comes to the overall appearance of the platform, Alfa Assets Group Limited looks legit. There’s nothing on the platform that indicates this is a blacklisted platform. Instead, what we see is a platform that has managed to enlist naive investors into depositing funds.
Those who have already signed up are facing the uphill task of withdrawing funds. Most investors are having a hard time trying to convince the platform to release funds. And this is one of the many reasons the regulator bars use alfa-assets.com.
The homepage provides users with a sense of professional investment services. With their elegant web design, anyone would fall for their antics. Unfortunately, those who don’t do due diligence will likely fall for the platform.
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On their about us page, the platform outlines an ambitious attempt to take over the trading scene. We can see their efforts have borne fruit, all thanks to the huge number of complaints. But, unfortunately, with proof they are blacklisted, there’s no reason for you to sign up.
We will be looking into the reasons why two regulators blacklist this platform. Most of their trading conditions seem fair such as maximum leverage of 1:100. However, even with fair trading conditions, blocking withdrawals is a huge offense.
Alfa Assets Group Limited offers four investment platforms. These accounts don’t have names, and they come with a depository amount. The accounts have the same features, but the deposit amount is different.
To start investing and trading with the basic account, you need to deposit 500 Euros. Other depository amounts that follow include 2,000, 5,000, and 10,000 EUR, respectively. Finally, the VIP account is the most exclusive account with a deposit amount of 10,000 Euros.
These accounts come with added benefits such as great liquidity of currencies and tools of operation. On the homepage, we also see four different accounts with different names. These four include Standard, Premium, Elite, and Platinum.
We have an issue with their leverage which they set to 1:200. No regulator in Europe can allow a platform to offer such high leverage. Most regulators have put a cap on leverage and set the maximum at 1:100.
There are no commissions on the accounts with fixed spreads from 4 pips for the standard account. The maximum leverage using the web platform is marked at 1:200. When using MT5, the maximum leverage is set to 1:100.
All accounts come with fixed spreads, and the platform promises negative balance protection. Members trade 24/5 apart from standard account holders. We don’t get the reason why they are barred from trading full market days.
Depositing funds with the platform is fast, and the process takes less than five minutes to complete. You can deposit using various channels such as bank transfer, Maestro, MasterCard, Neteller, and more.
Withdrawing funds from the platform is the biggest challenge facing investors. You can’t withdraw large sums, especially when withdrawing for the first time. And these are the reasons why the regulator issued a warning regarding the platform.
Alfa Asset Group Limited is not a licensed entity and does not come anywhere close. As a result, the platform is now blacklisted by two of Europe’s leading regulators. We know for a fact that other regulators will follow suit.
Without a valid license from regulators, it means oversight is unavailable. As a result, you won’t enjoy the protection investors enjoy with a regulated platform. And this is why the platform switches leverage to 1:200 on their custom web terminal.
When looking for a viable trading partner, you should look for one licensed by reputable regulators. These regulators include ASIC, BaFIN, CNMV, CONSOB, CySEC, FCA, and the SEC.
Alfa-assets.com does not bother to inform users of their license status. We don’t see any documents to try and sway investors into believing they applied for a license. Ensure you check whether the documents provided match those on the regulator’s record books.
Details on their about us page give users no information on who owns and runs the platform. We are told the platform is made up of a group of people with academic backgrounds. What’s funny is that the platform fails to mention even a single person.
The entity itself is a mystery as we don’t know where they are registered. Furthermore, even with a Spanish default language, the entity is not registered in Spain. And this makes Alfs Asset Group Limited an anonymous platform.
Even the history of the platform remains unknown to all. We don’t have their true mission or objective. Their background and history remain unknown to users. And this is the reason why we doubt the credibility of the platform.
From one member, he was appalled by the constant calls by one Stephen. The account manager would occasionally call asking for a fresh deposit. These calls would be preceded by claims of venturing into a highly profitable investment.
All Mick had to do was deposit funds and wait for the profits to soar. But, unfortunately, he made the mistake of depositing 2,000 Euros for the sake. Once he deposited, calls from Stephen abruptly ended, and he hasn’t received a penny.
Tracy, on the other hand, has been sending withdrawal requests for weeks. Unfortunately, the platform fails to respond, and she has been recently blocked from accessing her account. Unfortunately, it’s what other members are facing with the platform.
You would expect a platform with an aesthetic web design to offer better customer support. Instead, you have a platform that fails to offer live support. There are no phone numbers members can use to contact support.
Members can only write and expect a response via email. It may take time for the platform to respond in time. And this is one of the reasons all members experience withdrawal delays.
One of the few positive aspects we see on the platform is offering a demo account. You can decide to test how the platform behaves with the demo account. The account comes fully furnished with the MT5 trading terminal.
Another positive aspect of the platform is the availing of the MT5 trading terminal. The platform is seen by most as one of the best to use. It offers users a huge advantage when it comes to trading. You get advanced tools and a chance to customize your trade.
We recommend using MT4, MT5, and SIRIX trading platforms.
Safety of funds is out of the question when it comes to a blacklisted platform. Your funds are far from safe with alfa-assets.com.
These are the reasons why we don’t recommend using Alfa Assets Group Limited.
Now you know the risks that come with this platform.
Make sure to make an insightful investment decision by using transparent platforms. It’s the safest way to invest and trade in the forex market.
Feel free to leave a comment or write to us.
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