Shady brokerage with no regulation. This is how we’d describe AlpsMarkets broker after the research we’ve done. There is not a single good thing to say about this company.
Let’s dive into our unbiased AlpsMarkets review and see why you should never have an account with this brokerage.
- We have updated this AlpsMarkets broker review in August 2021.
|Broker status:||Unregulated Broker|
|Regulated by:||No Regulation|
|Operating Status:||Forex Trading Scam|
|Blacklisted as a Scam by:||Czech National Bank and Polish KNF|
|Types of Assets:||N/A|
|Free Demo Account:||No|
|Accepts US clients:||No|
Alps Markets Regulation and Security
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.
What’s Wrong With Alps Markets Regulation?
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.
Scam Warnings Against Alps Market
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.
Alps Markets Reviews – Stay Away From Trading Scam
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.
Here are just some of the examples:
facebook shows me an advertisement of this company. “Fast & Reliable Trading”. But they refuse return – withdraw my money (it is not invested, it is in my wallet). Still saying they need more time, please wait… never trust them. nothing refund to you! Scammers! My experience”
“scam. they took my father’s life savings
What Are Trading Platforms Available?
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!
What Can You Trade With an Alps Markets Broker?
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.
- Before we move forward, we encourage you to read our recently updated InstaForex and PrimeXBT broker reviews.
Countries Allowed and Prohibited by the Broker
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.
Alps Markets Trading Accounts – Account Types
AlpsMarkets broker offers 5 account types:
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.
Alps Markets Demo Account
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.)
Alps Markets Deposit and Withdrawal Methods
AlpsMarkets accepts deposits from rather limited payment methods, including:
- Wire transfer
Compared to other brokers on the market, this offer is far from satisfying. Also, there’s no word on available withdrawal methods or fees for such action.
Alps Markets Scam – Unable to Withdraw Funds
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.
Regardless of the excuse, in the end, your account will be suspended, and no money will be returned to your account.
Beware of the AlpsMarkets scam and exclude LiteForex company from your list of potential brokers to trade!
Scammed by the Alps Markets broker? What to Do?
If you were scammed by Alps Markets, have any complaints about this, or any other broker, let us know! You are not the only victim of the Alps Markets scam! Our support team is available on the chat; we’d like to hear your story and help you get your hard-earned money back!
Get in touch with us now! It is important to act fast.
Don’t Let the Scammers Go Away for Free!
What is the Alps Markets?
Alps Markets is an online trading platform owned by an anonymous company, operating with no regulation.
Is Alps Markets regulated?
No, Alps Markets has no regulation by any authority body for their services.
Is my money safe with Alps Markets broker?
Since the broker is anonymous and not regulated, your money is not safe with Alps Markets.
Does Alps Markets Offer a Demo Account?
No, this brokerage company does not offer any sort of a Demo account for its clients.
Which products does the Alps Markets offer?
Unfortunately, the broker did not give us any indications regarding assets available for trading, leading us to conclude it’s yet another scam.
Is an Alps Markets broker advisable to trade with?
Considering lack of transparency and no regulations, AlpsMarkets is definitely not a broker anyone could recommend.