AlphaLive Review (2020): Scam Broker Alert!!!
Alphalive.io comes with an average website look and a few decent offers. Don’t let yourself fall for this. AlphaLive is a scam broker, nothing more. Read this review before making any investment whatsoever with AlphaLive brokers.
Whether you’re an experienced forex trader or not, your first intention is to make real profit. To do this, you have to trade with the right forex brokers. Our job here is to review various websites that claim to be forex brokers, then help you tell which is real and which is not. This review tells you all you need to know about AlphaLive Brokers.
About AlphaLive Brokers
According to alphalive.io, AlphaLive is a forex brokerage company in the Commonwealth of Dominica. an online portal designed to deposit funds, request a withdrawal, check balance and positions, request opening or closing a position, request placing a new order or cancel an old one and much more. They claim to be registered and regulated by the Financial Services Authority, Seychelles.
Alpho brokers trade commodities, forex, indices and shares across multiple countries. They also claim to be one of the top 5 online brokers. However, you might want to exercise caution with this broker. They seem to have as many negative sides as they have positive.
Why You Should Be Cautious with alphalive.io
At first glance, AlphaLive brokers doesn’t give us much to think about. They have an average looking website. Sadly, it takes more than looks to make a good broker. Here’s what we found;
AlphaLive Brokers Withdrawal and Deposit
Alphalive.io sets it’s minimum deposit amount at $200. The deposit methods include bank wire, major credit/debit cards, and popular eWallets . The withdrawal methods are the same, however, the prices differ. The minimum withdrawal amount using cards is $100 and $250 for wire transfers.
Having withdrawal amounts as high as that is unacceptable considering customers should be free to do whatever they want with their funds. Besides that, there just happen to be a lot of absurd terms in the T&C section containing unspecified fees. This is a very common thing with illicit brokers.
AlphaLive Brokers Trading Platform
AlphaLive brokers do not present us with either MetaTrader 4 or MetaTrader 5. These are the two most prominent trading platorms in forex today. The MT4 is the mosst popular while the MT5 is the best. They both offer features that make them topple the entire market. It is for reasons like these that every legit broker uses at least one of these two.
Alpjalive.io, on the other hand, offer us something different. Their trading platform looks good enough, but has a really high maximum leverage of 1:400. This is weird because the maximum leverage we see in the Terms and Conditions is 1:30. Inconsistencies such as this is a huge red flag.
AlphaLive Brokers Licensing and Regulation
AlphaLive brokers, according to their website, is located in the Commonwealth if Dominica. Dominica just happens to be an offshore zone. They do not have a financial agency that regulates brokers. Basically, it’s impossible to be located in the Commonwealth of Dominica and be registered there.
Alphalive.io is an illegal broker, they are UNLICENSED and shouldn’t be allowed to operate. Your investment is at risk with them.
AlphaLive Brokers Review Conclusion: Is alphalive.io Legit?
No. AlphaLive brokers are not regulated by any agency, and on top of that, they are located in an offshore zone known to illicit brokers. Due to this fact, we cannot recommend them to you, and we advise you deal with a transparent broker who’s licensed by a reputable agency.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!
