Altrix Edge Broker Review

Altrix Edge

A regulator warning has been issued by Canadian authorities against Altrix Edge in September 2023

If you are looking for a reliable and trustworthy online broker, you might have come across Altrix Edge. Altrix Edge claims to offer a variety of trading instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. But is Altrix Edge a legit broker or a scam?

In this review, we will examine the features, pros, and cons of Altrix Edge and help you decide if it is worth your time and money.

What is Altrix Edge?

Altrix Edge is an online broker that was founded in 2019 and is based in St. Vincent and the Grenadines. According to its website, Altrix Edge is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines and operates under the license number 25498 BC 2019.

Altrix Edge offers four types of trading accounts: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, while the maximum leverage is 1:200. The Silver account requires a minimum deposit of $1,000 and offers a leverage of 1:300. The Gold account has a minimum deposit of $5,000 and a leverage of 1:400. The Platinum account has a minimum deposit of $10,000 and a leverage of 1:500.

Altrix Edge also provides a demo account for traders who want to test their platform and strategies before investing real money. The demo account has a balance of $10,000 and allows access to all the trading instruments and features.

Altrix Edge claims to offer a user-friendly and intuitive trading platform that is compatible with both desktop and mobile devices. The platform has various tools and indicators to help traders analyze the market and execute their trades. Altrix Edge also offers an educational section that includes webinars, ebooks, videos, and articles on various topics related to trading.

What are the pros and cons of Altrix Edge?

Pros:

  • A wide range of trading instruments
  • A user-friendly and intuitive trading platform
  • A demo account with $10,000 balance
  • An educational section with various resources
  • A customer support team available 24/5 via phone, email, and live chat

Cons:

  • A lack of transparency about the company’s background and ownership
  • A questionable regulatory status in St. Vincent and the Grenadines
  • A high minimum deposit for the Basic account
  • A limited number of payment methods
  • A high withdrawal fee of $50

Is Altrix Edge legit or scam?

Based on our research, we cannot recommend Altrix Edge as a legit and trustworthy broker. There are several red flags that raise doubts about its credibility and safety.

First of all, Altrix Edge does not provide any information about its founders, owners, or team members on its website. This makes it hard to verify the identity and reputation of the people behind the broker.

Secondly, Altrix Edge claims to be regulated by the FSA of St. Vincent and the Grenadines, but this does not mean much in terms of investor protection. St. Vincent and the Grenadines is an offshore jurisdiction that has lax regulations and oversight for online brokers. The FSA does not issue licenses or monitor the activities of brokers operating in its territory. Therefore, Altrix Edge is not subject to any rules or standards that ensure fair and ethical trading practices.

Thirdly, Altrix Edge has a high minimum deposit requirement for its Basic account ($250), which is above the industry average ($100). This means that traders have to risk more money to start trading with Altrix Edge.

Fourthly, Altrix Edge has a limited number of payment methods for deposits and withdrawals. The only options available are credit/debit cards, wire transfers, and Bitcoin. Moreover, Altrix Edge charges a hefty withdrawal fee of $50 for every transaction, which is very high compared to other brokers.

Finally, Altrix Edge has received many negative reviews and complaints from its clients on various online platforms. Some of the common issues reported by traders include:

  • Difficulty in withdrawing funds
  • Poor customer service
  • Manipulation of prices and spreads
  • Unauthorized charges on credit cards
  • Account closure without explanation

Conclusion

In conclusion, we do not recommend Altrix Edge as a legit or trustworthy broker. There are too many red flags that indicate that it is a scam or at least a very risky broker to deal with. We advise you to avoid Altrix Edge and look for other reputable and regulated brokers that can offer you better services and security.

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