2016 Alfa Trade BSCS Warning was issued in March of 2016 which ended broker in BSCS exhaustive Investment Caution list. is Alfa Trade reliable?
2016 Alfa Trade BSCS Warning was issued in March of 2016 which ended broker in BSCS exhaustive Investment Caution list.
The blacklisting of Alfatrade is based on the fact that the broker was found to be targetting Canadian residents without any applicable license to do so.
Nemesis Capital Limited which is the owner of Alfa Trade is located in the following address according to their website:
Stoney Ground, Kingstown, St. Vincent and Grenadines.
While, Alfa Trade website indicates the address as Oborishte District 21B, Moshovska, Str. Sofia.
As a result of the public data, we can also conclude that Alfa Trade is an offshore Forex broker.
Alfa Trade advertisement
Meanwhile, during one of AtoZ Forex team trips in 2016 we found out that Alfa Trade is not following any proper regulatory framework in their advertisements, neither having a risk disclaimer. As an example, the above given advertisement can classify Alfa Trade as noncompliant Forex Broker.
To see the complete details of 2016 Alfa Trade BSCS Warning click here.