Speaking of Alps Markets regulation, we’ve determined it does not exist. The broker represents itself as a home of over 200,000 traders. However, to have this number of clients, you cannot be anonymous.
Every legit broker needs to be transparent and give their traders all the necessary information – the company owner, location, regulation, and minimum deposit. However, according to our AlpsMarkets reviews, this broker does not provide any of those. We did not want to leave our job half done. Since the broker does not give any information about the location or the owner, most likely, it’s based offshore. In offshore countries, regulatory bodies tend to look over shady companies like the one we speak about.
We’ve checked several regulatory registers – FSC, VFSC, FSA looking for the answer is Alps Markets regulated. Since we could not find the company anywhere, now we can safely say the broker is unregulated and not legit.Since the broker is highly shady and unregulated, we wondered if any regulator noticed its activities. We found two reports coming from Czech National Bank, CNB, and a Polish regulator, KNF.
Both of these regulators warn citizens against trading the name AlpsMarkets and state that those defrauded will have a hard time returning funds since we’re dealing with a bogus operation.According to AlpsMarkets reviews from Trustpilot and other reputable websites, the broker is rated as poor. Why? Because it does not allow withdrawals and uses its platform to defraud clients.
Since we couldn’t find the regulation, we’ve checked the Alps Markets trading platform. We wanted to see if there is possibly something that can attract 200,000 traders. The broker is offering only a web trader and a mobile trader, and you cannot access any of those before opening an account and making a deposit.
Since we are not willing to deposit with an unregulated company, we could not gather much data on the trading platform. All we could see on the website is that the maximum leverage this broker provides is 1:500.
Like many unregulated brokers, this one puts your money at too high risk as well. Be aware of the AlpsMarkets scam and stay away from unregulated brokers like Global CTB or Profit Trade. It will save your money, nerves and time!Another question without an answer. Nowhere on the website of this anonymous broker, we couldn’t find the information on which assets you can trade. Since we couldn’t access the platform as well, we are leaving this as a question mark.
The same thing stands for Alps Markets minimum deposit. If you check the FAQ section, you will see that you need to speak to customer support in order to get the answer.
Like many scam brokers, this one evaluates your financial situation first and then gives you the amount to deposit. Yet, most likely, after this deposit, you will face withdrawal issues, like many other clients that published AlpsMarkets reviews.According to warnings and AlpsMarkets reviews, we can conclude the broker operates in the EU, mostly countries such as the UK, Czech Republic, Poland, Austria, and Denmark. Also, we’ve found some of the reviews from Australia.
When it comes to prohibited areas, the broker lists only the USA, along “with some other entities” that remain unnamed.According to our knowledge, the main difference is in a spread that starts getting better by having a Silver account (we do not see what’s better) and the level of expertise your financial adviser has. For the Basic account, there’s no adviser at all, while having a Gold account connects you with a VIP adviser. Yet, since AlpsMarkets regulation is highly questionable, so is the advisers’ true expertise.
Based on everything we’ve seen, the AlpsMarkets trading scam has reached the level of no Demo account and no minimum deposit listed. If you want to check the offer, get ready for a call from some sort of support that will tell you the minimum (particularly made up for you.)
Once you try to withdraw your funds from the AlpsMarkets platform, you will be declined. Many clients stated they submitted withdrawal requests an endless number of times and each time had been denied under different excuses. Sometimes, they didn’t provide enough documents. Sometimes, the broker needs time to process such a request.
