Alpha Pro Assets Review: Scam Exposed by FCA
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Alpha Pro Assets Review
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Summary
Alpha Pro Assets purportedly operates from London, England. To operate here, the Financial Conduct Authority would have to license them. When we checked the FCA online registry, we didn’t find the shady broker’s name. Instead, we found a stern warning from the FCA about Alpha Pro Assets, warning people against trading with the dubious broker.
At first glance, you would think Alpha Pro Assets is an established global award-winning forex broker. It is not uncommon for brokers to present themselves thus. However, since all brokers want to market themselves positively, it’s hard to tell what’s real. It’s only through proper research and analysis that you can identify a dubious forex broker.
As a forex trader, one of the most critical things to do is to ensure you trade only with regulated, honest and transparent crypto brokers. Such brokers are reliable, and they will protect your money. Trading with an unregulated offshore broker carries inherent risks. Unfortunately, even government agencies cannot assist if you lose money. That’s why we advise you to work with licensed companies only.
About alphaproassets.com
You can trade stocks, crypto, binary options and forex on the broker’s website. One of the red flags we noticed is that the broker promises guaranteed profits once you trade on their platform. This is unethical because there is no such thing in forex trading. No business can guarantee profits. Furthermore, financial regulators would not approve of such behavior from a broker. There are two types of accounts to choose from, each with unique parameters.
When we checked whois.com, we found that the broker registered their domain in February 2024, and it will expire in 2025. Such is the typical behavior of scam brokers. They operate their illegal businesses for a short time, and once their schemes once people discover their schemes, they flee. Some even rebrand after some time.
Founders and Team
We didn’t find any history of the company founders or current leadership. This was not surprising, given the broker’s reputation. The broker knows its leaders are scammers, and hence cannot reveal their identities. Also, the team behind the entity may have been operating scam companies in the past.
Hiding these details shows a lack of transparency and commitment to customers. Although they claim to care about customers, it’s clear that clients are the least of their concerns. It’s hard to establish company values, vision and mission if you don’t know the people behind the philosophies.
Alpha Pro Assets Contact Details
A responsible broker should be easy to reach. Many new traders have many questions and areas they need clarification. Without the guidance of the broker, they could make many mistakes. Also, sometimes authorities may need to reach the broker in case of complaints.
This shady broker has provided unreliable contact details. When we tried to reach the broker our efforts proved futile. The broker is even asking for personal details such as phone number and email. We found this quite suspicious.
Regulation
When we checked the broker’s website, we didn’t see the parent company. This anonymity led us to believe the firm may be fraudulent. On their Terms and Conditions page, we also didn’t find the name. Thus, the page was legally invalid because it lacked the necessary information to validate the broker.
Alpha Pro Assets purportedly operates from London, England. To operate here, the Financial Conduct Authority would have to license them. When we checked the FCA online registry, we didn’t find the shady broker’s name. Instead, we found a stern warning from the FCA about Alpha Pro Assets, warning people against trading with the dubious broker.
This broker offers cryptocurrency and binary options trading. If they were operating legally in the UK, the FCA would not allow them to offer those trading instruments. The broker cannot, therefore, operate in the UK because it has violated many of the rules outlined by the FCA.
Alpha Pro Assets Trading Conditions
The broker has not disclosed parameters such as leverage, spread and commission charges. Thus, it’s hard to know if their conditions are favorable, especially for retail traders with small accounts. The minimum deposit is $500. This is too much because, with as little as $5, you should be able to open a retail forex trading account.
Final Verdict
Alpha Pro Assets is a conniving forex broker. Their goal is to reap where they didn’t sow. As a trader, the right information is essential as it will guide you in decision-making. You need to conduct proper research before opening an account.
Also, it’s advisable to open accounts with at least two brokers so you can weigh the benefits of each. Here is a list of some of the best crypto companies in the market.
