Warning Investors Alfamarkets
Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Introduction:
If you’re on the hunt for a trustworthy broker to grow your investments, we strongly advise you to steer clear of Alfamarkets. This review will delve into the troubling world of boiler room scams, exposing the fraudulent operations of Alfamarkets and why you should keep your hard-earned money well away from them.
Regulation and Compliance:
Alfamarkets, an alleged player in the world of online trading and investment services, touts its presence in major financial hubs like London, Amsterdam, and Hong Kong. It also claims regulation by the UK Financial Conduct Authority (FCA) and the Hong Kong Securities and Futures Commission (SFC). Unfortunately, these claims couldn’t be further from the truth. Alfamarkets operates as a boiler room, relying on cold calls and high-pressure sales tactics to dupe unsuspecting investors into purchasing worthless or fictitious securities.
Reputation:
The Dutch Authority for the Financial Markets (AFM) has sounded the alarm on Alfamarkets, classifying it as a suspected boiler room. These deceptive schemes involve unsolicited contact with potential investors and enticing them with overpriced, worthless, or nonexistent shares that promise extraordinary returns. The fraudsters behind boiler rooms often employ fake identities, websites, documents, and testimonials to masquerade as legitimate entities. Their aggressive and manipulative sales techniques corner investors into making hasty decisions, trapping them with valueless securities before vanishing with their money.
Customer Support and Customer Reviews:
The internet is littered with scathing reviews of Alfamarkets from individuals who’ve fallen victim to its scam. Trustpilot, Forex Peace Army, and Scamwatcher are just a few platforms where customers have shared their harrowing experiences and issued stern warnings to others.
Common complaints about Alfamarkets include:
– Persistent harassment through phone calls and emails by Alfamarkets agents.
– Relentless pressure to deposit more funds or acquire additional shares.
– Unrealistic promises of returns or bonuses.
– Inability to withdraw funds or access accounts.
– Dismissive or blockage by Alfamarkets’ support team.
– Threats and blackmail attempts by Alfamarkets agents demanding more money or personal information.
Products and Services:
Alfamarkets claims to offer a range of products and services for online trading and investing, such as a web-based trading platform, a mobile app, demo accounts, different account types, various payment methods, professional analysts and advisors, and a 24/7 customer support team. However, these offerings are either fictitious or severely subpar.
The trading platform is riddled with technical glitches, the mobile app is plagued by design flaws, the demo account is manipulated, the account types conceal hidden fees, the payment methods are unregulated and unsafe, the analysts and advisors lack qualifications, and the customer support team is unresponsive and unhelpful.
Location:
Alfamarkets boasts physical offices in London, Amsterdam, and Hong Kong, but these addresses are either fictitious or linked to unrelated businesses. There’s no credible evidence to support the existence of Alfamarkets’ physical presence in these locations. It is likely that Alfamarkets operates from an offshore location beyond the jurisdiction of reputable regulators.
Customer Service:
Alfamarkets claims to provide round-the-clock customer service via phone, email, chat, and social media. Unfortunately, this couldn’t be further from the truth. Numerous customers have reported non-existent or highly inadequate customer service. They’ve experienced lengthy delays, impolite responses, or no responses at all when attempting to contact Alfamarkets’ support. Additionally, some customers have endured abusive, threatening, or blackmailing behavior from Alfamarkets agents when seeking to voice their concerns or withdraw their funds.
Conclusion:
In conclusion, Alfamarkets is a deceptive broker that you should vehemently avoid. It operates without any legitimate regulation or licensing and has been flagged as a suspected boiler room by the AFM. Numerous customers have reported negative experiences, from financial losses to mistreatment by Alfamarkets agents. The company offers no genuine or quality products or services for online trading and investing, lacks a physical presence in its claimed locations, and its customer service is either non-existent or highly deficient.
If you’ve been contacted by Alfamarkets or a similar company, do not engage with their offers or divulge personal or financial information. If you’ve already invested with them, refrain from depositing additional funds or acquiring more shares. Attempt to withdraw your funds immediately and report the company to relevant authorities. Seek legal advice or assistance from reputable professionals skilled in recovering funds from fraudulent brokers.
Remember, if something seems too good to be true, it likely is. Prioritize thorough research and due diligence before entrusting your money to any online broker or company. Your financial security is paramount, and avoiding scams like Alfamarkets is a critical step in safeguarding your investments.
