Breaking News

Broker Review: AlphabetFX

In continuing my series of Forex broker reviews, today I’m analyzing a newer service that believes trust is earned, AlphabetFX. They are currently using the MetaTrader4 platform which is my favorite, and promise a secured trading environment where traders don’t have to be concerned about losing their private information. The developers also claim to provide an application, for traders that are looking to trade on the go, but there aren’t any links to it on the website.

Owned and operated by Triple 15 LTD. this broker is located at 6th of September St. 1, office 1 2nd Ebene 1000, Sofia, Bulgaria. This sounds more like a date, than it does an address but that’s neither here nor there. Traders can get in touch with support via email at support@alphabetfx.com or phone at +442080620564. This part of the world is usually my first choice for brokerages, but I’ll do my best to give it a fair shake.

AlphabetFX Review

The creators of this brokerage want us to “experience premium trading with AlphabetFX.” They believe that their services ahead of the competitors because of their cutting edge technology and up-to-the-minute financial analysis. The broker comes with platform assistance and trading guides to help with the process, and ensure that clients are properly using the service.

In order to provide a high level of support, the broker comes with a comprehensive education center. In this area traders get access to a trading Academy, online webinars, like market analysis, video on demand library and one-on-one professional mentoring. In terms of the mentoring, it does look like this is available to all clients, because their account types section does not specify that this one on one trading is only available for certain accounts.

In going through the trade video section, it doesn’t seem very in depth. The webinars section looks even worse, as we are told to “look at our webinars listed below,” but the page is blank. So, while the education center is available, it is not as comprehensive as the brokerage originally claims. This is very common, as we’ve seen similarities with KayaFX, RoboMarkets, and HQ Broker.

Breakdown

  • Type: Forex Broker
  • Founded: 2012
  • Location: Bulgaria
  • Minimum Deposit: $200
  • Platform: MT4/Application
  • Minimum Lot Size: 0.01

To add to the breakdown even further, the AlphabetFX broker offers 1500 assets, a 500:1 leverage, a 0.0 pip spread and a bonus of up to $5000. One aspect of this that I do not appreciate, is the fact that they’ve misspelled the word spread. This may be nitpicking, or a small issue but this is supposed to be a large professional brokerage and no large professional brokerage should be making a spelling mistake near the top of their website.

This type of error not being resolved quickly, leads me to believe that this is a much smaller brokerage than it’s made out to be.

Account Types

There are currently 4 different account types traders can sign up with in order to access the AlphabetFX platform. You can become a basic member for $250, a silver member for $5000, a gold member for $2500 or a VIP member which requires that you contact an account manager with the brokerage. Again, we have another error on the website, with the deposit for the silver account being larger than that deposit required for the gold account.

I’ve only been on this website for 25 minutes, and I’ve already come across to glaring mistakes. Certainly, this broker had thousands of clients, someone would’ve mentioned these issues, and you’d think that they’d be resolved quickly.

The differences between the accounts, is that some provide free VPS hosting, and free bank wire withdrawals. The majority of the other features of the same, outside of the floating or fixed spreads.

Conclusion

As this is a very new broker, with very few clients, I am unable to do a client feedback section of the AlphabetFX review. With that being said, I believe that the developers of this platform have a ways to go before I sign up with their services. I would like to see them resolve some of the issues on their website, and start to grow larger client base before I get involved. I generally like to see much more user feedback on a brokerage before I give it a shot. I’m never interested in being a guinea pig.

If there’s anything you would like to comment, please leave your remarks below the article now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

12 comments

  1. Hello. The one glaring fact that says DODGY all over this firm is that they provide a BULGARIAN address yet have a LONDON UK telephone number and allege to be a LIMITED Company, which means that they should be registered with Company’s House in the UK. One look on Company’s House will reveal if they are registered or not and who the Directors are, their Date of Births and addresses etc.
    If the firm is registered and operating in the UK, they will have to be regulated by the Financial Conduct Authority (FCA) and if they are not, then they are not a real company and are breaking the law and thus liable to prosecution.

  2. at the beginning of this year A person whose name Gabriela Alves called me several times to open An account with your forex broker at alphabetfx.com were several deposits until when I went to make the withdrawal of there no more anyone from the brokerage to return my money. I need help getting my money back.

  3. I also DEPOSITED some MONEY in AlphabetFX and we interacted very nice, but when i asked for a withdrawal they became rude and emotional. They did not make any payment. This is a scam. They even asked me to pay a brokers fee which they say it is 30% of the total amount that i want to withdraw, they refused when i asked them to deduct that percentage from the whole amount that i was going to withdraw. Really we need to come together and fight, fight and fight this scam, we worked very hard for our money no one supposes to scam people so easy. Please help to recover our money.

  4. Simon Matshaseng

    Its scary who they do this to people . They should be investigated
    This is fraud

  5. Simon Matshaseng

    I also ask for withdrawal but they told me I have to pay a broker fee which was over 4k and if I don’t won’t get my money and I ask why can’t they take it from my withdrawal but they said they can’t and that’s when I realized something was wrong

  6. It is just a big scam I suspect. I am a regular costumer from Alphabet. A month ago I asked for a withdrawal. After this for the first 2 weeks they protelate my formal request. And in the last 2 weeks they are just ignoring me, and they did not contact me by e-mail or cell phone. They seem just to disapear. Take care with this enterprise. I hope I have my money back, I am searching for a way to complain to the authorities.

  7. This is really a scam. They steal your money. They are real thieves, coup. Run away from AlphabetFX!

  8. I made some deposits in AlphabetFX and during that time they were very nice, but from the moment I asked for a withdrawal they changed. Do not respond to email. They do not release any of my money. This is a scam!

    • Sorry to hear that, but I appreciate your contribution.

      • Johan Fägerskiöld

        Any updates recently? There is a new company called AlphabetBTC which hse practically the same address in Sofia and which offers to trade for you. The person calling is very nice and friendly and the idea of earning very much very fast is enticing. They seem to be trading with only three cryptos and I am not informed of the pip measure of their spreads, supposedly very tight. So it looks like an offspring to what you mention in the article about AlphabetFX. Would Triple 15 LTD be involved?

Leave a Reply to Simon Cancel reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!