ByAlpha Review: ByAlpha.org is a Dark Broker

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ByAlpha Review
  • Regulation
  • Fund Safety
0.5

Summary

ByAlpha lists payment methods such as Visa, Mastercard, Bitcoin, and wire transfers. However, the only acceptable option is wire transfer. The schemes lack terms and conditions. Hence, we do not know the withdrawal requirements. 

ByAlpha is allegedly being managed by Compic Solutions LTD. The entity domain registration took place in 2023. They have been in the market yet there is no proof of trade. The scheme doesn’t provide any statistics to allow investors to see how they perform. 

Therefore, investing with the firm is a blind move that nobody knows how it shall end.  The platform is operating from an offshore zone, Saint Lucis. They promise to upgrade clients’ trading experience. But before investing with any entity it is crucial to perform exclusive research. 

Here is a list of some of the genuine and trustworthy crypto companies. These entities are transparent. They also handle the withdrawal request on time. 

ByAlpha.org Review 

ByAlpha brags it has the next trading tools. Clients can utilize sophisticated risk management tools. They also promise to provide customers with top-notch security. The only way a broker is to provide fund safety is by working with a reputable financial institution. Sadly, this scheme is working independently.

If they face bankruptcy investors won’t get compensation since funds go to the con artists’ pockets. Offshore schemes target novice customers. They guarantee fixed returns despite the industry being volatile. 

Before trading with any broker check for customer reviews. It is the only way you will know the kind of platform you are dealing with. In case an entity lacks customer reviews on a third-party website stay away from them and look for an established firm. Some scammers even use fake testimonials on their websites.

Also only deal with brokers that offer world-class customer support services. You don’t want to deal with a tactical sales rep who only encourages you to join their platform using unethical marketing strategies. 

ByAlpha Trading Conditions and Accounts 

ByAlpha offers a web trader interface. Customers can trade forex, commodities, cryptos, indices, and stocks. These products require a superior trading tool like the MT4 OR MT5. 

Investors get to enjoy 1.5 pips spreads. The leverage ranges from 1:200 to 1:500. The cap might seem profitable but the higher the leverage the greater the risks. Hence, be careful and choose regulated brokers. Licensed platforms minimize the risks and create a conducive trading environment. 

Withdrawal and Deposits 

ByAlpha lists payment methods such as Visa, Mastercard, Bitcoin, and wire transfers. However, the only acceptable option is wire transfer. The schemes lack terms and conditions. Hence, we do not know the withdrawal requirements. 

ByAlpha Regulation Status 

The first thing to always do before going too far with any broker is to double-check its regulatory status. ByAlpha is operating without a license and this puts customers funds and data at risk. 

The financial watchdogs require firms to operate in full transparency. A broker must submit the name of its team to the regulator to be vetted and verify they are professionals. Scammers work with inexperienced individuals. Hence, they run their business anonymously. 

ByAlpha is an exposed Ponzi scheme. The Spanish regulatory body CNMV blacklists the firm. The scheme is operating in several jurisdictions without first seeking a license. Unfortunately, customers don’t get negative account balance protection. They can lose more money than what they initially deposited. 

Offshore schemes also tend to prematurely exit the market. They leave their clients high and dry. The people behind the entities ought to be put behind bars. For the sake of your sanity refrain from engaging with unregulated platforms. 

Final Verdict

ByAlpha has no pros to investors. Their trading conditions and withdrawal terms make them unfit to be in business. The scheme is only after customers’ funds. 

Avoid offshore schemes by choosing reputable and transparent crypto companies. These entities are reliable and authentic. Customers get to enjoy trading in a conducive environment. 

 

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