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Alpha Trade

Australia|2-5 years|
Investment Advisory License|Suspicious Scope of Business|Suspicious Overrun|Medium potential risk|

https://alphatrade.com.au

Website

Rating Index

Contact

+61 290 373 900
cs@alphatrade.com.au
https://alphatrade.com.au
Level 16, 175 Pitt Street, Sydney, NSW, 2000, Australia

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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40G

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Warning: Low score, please stay away! 3
Previous Detection : 2024-04-24
  • This broker exceeds the business scope regulated by Australia ASIC(license number: 237244)Investment Advisory Licence Non-Forex License. Please be aware of the risk!
  • This broker exceeds the business scope regulated by Australia ASIC(license number: 055 971 232)Administration of Industry and Commerce-Register Non-Forex License. Please be aware of the risk!

WikiFX Verification

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Alpha Trade · Company Summary

Aspect Information
Company Name Alpha Trade
Registered Country/Area Australia
Founded Year Regulatory compliance risks
Regulation Regulated by Australian authorities
Market Instruments Forex, Commodities, Digital Assets
Spreads Starting from 0.2
Trading Platforms N/A
Customer Support Phone at +61 290 373 900 or email at cs@alphatrade.com.au

Overview of Alpha Trade

Alpha Trade, established in Australia in 2020, offers a range of trading assets including Forex, commodities, and digital assets. Its competitive advantages lie in offering low spreads, responsive customer support, accessible mobile trading, and a transparent fee structure.

However, users may encounter challenges navigating the complex website, limited educational resources, and risks about regulatory compliance. As of its founding year in 2020, Alpha Trade operates under Australian regulations, providing traders with a regulated trading environment.

Overview of Alpha Trade

Is Alpha Trade Legit or a Scam?

Alpha Trade's regulation status significantly influences traders on the platform.

Firstly, the platform has exceeded its Investment Advisory License regulated by the Commonwealth of Australia Regulatory Authority under license number 237244. This license type typically entails providing investment advice, implying a certain level of expertise and oversight. Traders may perceive this breach as a sign of regulatory non-compliance, potentially eroding trust and confidence in the platform's integrity and reliability.

Is Alpha Trade Legit or a Scam?

Additionally, the platform has also exceeded its Common Business Registration license, regulated by the same authority under license number 055 971 232. This license typically pertains to general business operations, indicating a departure from the intended scope of financial services. Traders may interpret this violation as a lack of adherence to regulatory standards, raising risks about the platform's transparency and accountability.

Is Alpha Trade Legit or a Scam?

Pros and Cons

Pros Cons
Competitive spreads as low as 0.2% Complex website interface
Responsive customer support Lack of educational resources
Accessible mobile trading Regulatory compliance concerns
Transparent fee structure Limited research tools

Pros:

  1. Competitive spreads as low as 0.2%: Alpha Trade offers competitive spreads, starting as low as 0.2% for certain assets. Competitive spreads benefit traders by reducing the cost of trading, allowing them to retain more of their profits.

  2. Responsive customer support: Alpha Trade provides responsive customer support, ensuring that traders can quickly receive assistance with their inquiries or issues. Responsive support enhances the overall trading experience by addressing risks promptly.

  3. Accessible mobile trading: Alpha Trade offers accessible mobile trading capabilities, enabling traders to manage their portfolios and execute trades conveniently from their mobile devices. Mobile trading provides flexibility and allows traders to stay connected to the markets even while on the go.

  4. Transparent fee structure: Alpha Trade maintains a transparent fee structure, allowing traders to easily understand the costs associated with their trades. A transparent fee structure builds trust and confidence among traders, as they can make informed decisions regarding their trading activities.

Cons:

  1. Complex website interface: The official website of Alpha Trade is complex to navigate, potentially causing frustration for traders trying to access information or utilize platform features. A complex website interface can hinder user experience and make it difficult for traders to find relevant resources.

  2. Lack of educational resources: Alpha Trade lacks comprehensive educational resources, which may limit the ability of traders, especially beginners, to learn about trading strategies, market analysis, and risk management. Adequate educational resources are essential for empowering traders with the knowledge needed to make informed decisions.

  3. Regulatory compliance risks: Traders may have risks about Alpha Trade's regulatory compliance, which could affect their trust in the platform. Regulatory compliance ensures that brokers operate within legal boundaries and adhere to industry standards, protecting the interests of traders and ensuring fair market practices.

  4. Limited research tools: Alpha Trade provides limited research tools, which may hinder traders' ability to conduct in-depth market analysis and make informed trading decisions. Comprehensive research tools, such as technical analysis indicators and market news, are essential for traders to stay informed about market trends and potential opportunities.

Market Instruments

Alpha Trade provides access to a wide array of assets, including FOREX, COMMODITIES, and DIGITAL ASSETS, each tailored to meet the needs of traders seeking various investment opportunities.

FOREX

Trading currency pairs involves predicting how one currency will change in value relative to another. Alpha Trade offers Forex traders some of the narrowest spreads available globally. The platform continually assesses pricing to enhance depth, speed, and cost efficiency.

Market Instruments

COMMODITIES

Commodity markets attract speculators due to fluctuations in supply and demand. Alpha Trade provides a straightforward method to gain exposure to popular commodities like energy and metals. Commodities can be traded individually or in pairs using CFDs, eliminating the need to own the underlying product.

DIGITAL ASSETS

Cryptocurrency CFDs are favored by traders who prefer avoiding the complexities of securely purchasing and storing cryptocurrencies. Alpha Trade allows traders to open leveraged long or short positions with minimal capital, profiting from price differences between opening and closing positions. Leverage amplifies exposure to cryptocurrency markets, enhancing potential gains or losses.

Market Instruments

Spreads & Commissions

At Alpha Trade, spreads and commissions are structured to provide competitive pricing for traders across various asset classes.

For FX majors, the spread typically ranges from 0.2% to 0.8%, ensuring narrow differentials between bid and ask prices for currency pairs. This narrow spread enhances cost efficiency for traders engaging in foreign exchange transactions.

Spreads & Commissions

When trading indices, traders can expect spreads ranging from 0.5% to 6%, reflecting the volatility and liquidity of these instruments.

Similarly, metals trading entails spreads ranging from 0.5% to 14%, accommodating the wide range of metals available for trading, each with its own supply-demand dynamics.

Spreads & Commissions

Customer Support

Alpha Trade offers comprehensive customer support services to assist traders with inquiries and issues.

Traders can reach the support team via phone at +61 290 373 900 or through email at cs@alphatrade.com.au.

Additionally, updates and announcements are provided on their Twitter account at https://twitter.com/alphatradeau.

The support team is responsive and strives to address customer risks promptly, ensuring a positive trading experience. Whether traders require assistance with account-related queries, technical issues, or general information, Alpha Trade's customer support team is available to provide assistance and guidance.

Customer Support

Risk Alerts

Alpha Trade issues risk alerts to inform traders about potential risks associated with engaging with the platform.

The recent detection on March 22, 2024, reveals risking findings. The broker exceeds the business scope regulated by the Australian Securities and Investments Commission (ASIC) under license number 237244, which is designated for Investment Advisory Licence Non-Forex activities, as well as license number 055 971 232, intended for Administration of Industry and Commerce-Register Non-Forex activities.

Moreover, it has been noted that the broker lacks trading software, posing further risks to traders. These alerts serve as a cautionary measure, urging individuals to exercise caution and stay vigilant when considering involvement with Alpha Trade.

Risk Alerts

Conclusion

In conclusion, Alpha Trade offers competitive advantages such as low spreads, responsive customer support, and accessible mobile trading.

However, the platform faces challenges such as a complex website interface, limited educational resources, and potential regulatory compliance risks. While its transparent fee structure and range of market instruments are appealing, traders should carefully consider the platform's limitations, such as the lack of comprehensive educational materials and complex website interface.

FAQs

Q: What assets can I trade on Alpha Trade?

A: Alpha Trade offers trading opportunities in Forex, commodities, and digital assets.

Q: How can I contact customer support at Alpha Trade?

A: You can reach Alpha Trade's customer support via phone, email, or their Twitter account.

Broker Information

Company Name

Alpha Trade Pty Limited

Company Abbreviation

Alpha Trade

Regulatory Status

Exceeded

Platform registered country and region

Australia

Company website
Phone of the company
  • +61 290 373 900

Twitter
Facebook

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Instagram

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YouTube

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Company address
  • Level 16, 175 Pitt Street, Sydney, NSW, 2000, Australia

Linkedin
WhatsApp

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QQ

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WeChat

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Customer Service Email Address
  • cs@alphatrade.com.au

Company Summary

User Reviews

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5

Comments

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PAX1974
3-6months
Alpha Trade or Alpha Trade Group or Alpha Trade Capitol, you choose, it's a CRIMINAL ORGANIZATION FAKE ONLINE TRADING COMPANY I DO NOT REPEAT DO NOT INVEST EVEN A CENT OF A EURO IN THIS COMPANY BASED PERHAPS IN LONDON OR PERHAPS IN EDINBURGH MAXIMUM MAXIMUM MAXIMUM ATTENTION IF YOU RECEIVE CALLS WITH THIS CODE +44.......THIS IS ABOUT FAKE BROKERS!!!!!
2024-01-18 18:05
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0
0
程程20434
more than one year
Highly suspect! Alpha Trade seems not to be regulated by any regulators. This is a highly suspect site and company and I would advise extreme caution before using them or their site!
2023-02-28 14:08
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佳良
more than one year
This site seems to have very little information. In this society, any website that doesn't allow me to quickly locate the information I need will turn me off. I prefer companies that provide all kinds of information clearly.
2022-11-28 10:32
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FX1052259010
more than one year
Their website design left a deep impression on me. You can take a look at my picture. It looks really funny. You can see five big α at a glance. Their logo is so deeply rooted in my mind. But back to the point, this broker is currently not regulated in any way and I would not recommend anyone to trade with them.
2022-11-25 12:26
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0
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墨早早
more than one year
This platform seems quite unprofessional, its website design so confusing. I won’t so stupid to risk my money here, it is a surefire way to lose my money. By the way, its customer support is quite terrible, kept asking me to make a deposit, so so so speechless!
2022-11-24 17:46
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