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The WikiFX Score of this broker is reduced because of too many complaints!

Millennium Alpha

Australia|5-10 years|
MT4 Full License|Regional Brokers|High potential risk|

http://en.oafx.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
MillenniumAlpha-Demo MT4
Server Location United States

Contact

+61 7 3040 9828
cs@oafx.com
http://en.oafx.com
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+61 7 3040 9828

Chinese (Simplified)

61730409828

Broker Information

More

Company Name

Millennium Alpha Limited

Company Abbreviation

Millennium Alpha

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-06-17
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 22 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The AustraliaASIC regulation (license number: 328866) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Millennium Alpha · WikiFX Survey

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    Millennium Alpha · Company Summary

    Note: Millennium Alphas official site - http://en.oafx.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    Millennium Alpha Review Summary
    Founded 2007
    Registered Country/Region Australia
    Regulation ASIC (Suspicious Clone)
    Market Instruments Currency pairs, precious metals, stocks etc.
    Demo Account Available
    Minimum Deposit $100
    Trading Platforms MT4
    Customer Support Phone, email

    What is Millennium Alpha?

        Millennium Alpha's home page

    Established in 2007, Millennium Alpha is an online trading platform based in Australia. It claims to be regulated by ASIC (Australian Securities and Investments Commission), but there are concerns about the legitimacy of this regulatory claim. Millennium Alpha offers a variety of market instruments, including currency pairs, precious metals, and stocks, providing traders with diverse trading opportunities. The platform provides a demo account for users to practice their trading strategies. The minimum deposit required to open an account is $100, making it relatively accessible to traders. Millennium Alpha primarily utilizes the MT4 (MetaTrader 4) trading platform, a widely recognized and popular choice in the trading community. Customer support is available through phone and email channels, providing assistance to traders as needed. However, given the regulatory concerns, potential clients should approach Millennium Alpha with caution and conduct thorough research before engaging with the platform.

    Pros & Cons

    Pros Cons
    • Variety of Assets • Regulatory Concerns
    • MT4 platform • Limited Customer Support
    • Unavailble website

    Pros:

    • Variety of Assets: Millennium Alpha utilizes the MT4 platform, known for its user-friendly interface and advanced trading tools. This platform caters to a wide range of traders and offers a familiar and robust trading environment.

    Cons:

    • Regulatory Concerns: There are regulatory concerns associated with Millennium Alpha, particularly its association with ASIC (Suspicious Clone). These concerns raise doubts about the legitimacy and trustworthiness of the platform, potentially deterring traders who prioritize a well-regulated environment.

    • Limited Customer Support: While Millennium Alpha offers customer support through phone and email channels, the level of support may be limited compared to platforms with more extensive support options. This limitation could potentially lead to delays in addressing trader inquiries or issues.

    • Unavailable Website: The availability of the Millennium Alpha website might be unreliable, which can disrupt traders' access to information and services. An unavailable website can cause inconvenience and hinder trading activities.

    Is Millennium Alpha Safe or Scam?

    Millennium Alpha is regulated by the Australia Securities & Investment Commission (ASIC) in Australia. However, ASIC claimed by this broker is suspected to be a clone.

    suspicious clone ASIC license

    As with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.

    Market Instruments

    Millennium Alpha offers a diverse array of market instruments, providing traders with a wide range of opportunities to explore and invest in. These instruments include currency pairs, precious metals, and stocks. With access to these asset classes, Millennium Alpha's traders can engage in foreign exchange (Forex) trading with currency pairs, diversify their portfolios with precious metals like gold and silver, and participate in equity markets by trading stocks. This diverse selection of market instruments allows traders to tailor their investment strategies to their specific preferences and financial goals, providing flexibility and potential for diversification in their trading endeavors.

    Currency Pairs Trading: The Forex segment at Millennium Alpha features traditional instruments for this market, such as currency pairs. These pairs express the value of one currency in terms of another.

    Precious Metals CFD Trading: Precious metals, notably gold, have consistently been viewed as reliable assets during market crises and periods of high volatility.

    Online Stock CFD Trading: This segment comprises CFDs on highly liquid stocks from companies listed on major global stock markets.

    Accounts

    The unavailability of the Millennium Alpha website poses a significant obstacle for potential traders interested in opening accounts. Without access to the website, individuals are unable to initiate the account registration process, explore the platform's features, or establish live trading accounts. This limitation not only impedes their ability to engage in real trading but also restricts access to valuable resources that would typically be available, such as educational materials and account management tools. In such circumstances, traders are advised to monitor the website's status and await its accessibility to take advantage of features like demo accounts, which allow for practice and skill development before participating in live trading activities.

    Trading Platforms

    Millennium Alpha offers MT4 as its trading platform: MetaTrader 4 (MT4): MT4, short for MetaTrader 4, is a highly popular and widely recognized trading platform offered by Millennium Alpha. This platform is known for its user-friendly interface, powerful charting tools, technical analysis capabilities, and extensive range of features tailored for traders of all experience levels. .

    User Exposure on WikiFX

    On our website, you can see reports of scams and unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Customer Service

    Customers can visit their office or get in touch with customer service line using the information provided below:

    Telephone: +61 7 3040 9828

    Email: cs@oafx.com ; account@oafx.com

    Conclusion

    In conclusion, Millennium Alpha presents an array of trading opportunities through its diverse range of market instruments, user-friendly MT4 trading platform, and accessible account options. However, it's imperative to exercise caution due to the regulatory concerns surrounding the platform. The doubts regarding the legitimacy of its ASIC regulation claim introduce significant uncertainties that traders should consider when evaluating Millennium Alpha as a potential trading platform.

    Traders are advised to conduct thorough research and due diligence to assess the regulatory risks and exposures carefully before engaging with this platform. Prudent decision-making and risk management are paramount in navigating the complexities of the trading environment presented by Millennium Alpha.

    Frequently Asked Questions (FAQs)

    Q 1: Is Millennium Alpha regulated?
    A 1: Yes. It is regulated by ASIC but it is suspected to be a clone.
    Q 2: Can I still trade on Millennium Alpha?
    A 2: No, investors should wait until their services are back on.
    Q 3: Does Millennium Alpha have a full license for MT4?
    A 3: Yes.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

    In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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    United States
    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;
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