Beware! Alpha Tradex is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Alpha Tradex is a forex brokerage registered in Saint Vincent and the Grenadines. It provides the MetaTrader4 trading platform and a generous leverage. Traders are extended a leverage of up to 1:500. Furthermore, there is a wide range of trading products from which to choose and a spread of 1.5 pips on EUR/USD which is just about the industry average. The required minimum deposit, however, is quite low at $50 and very favorable for traders.

Alpha Tradex regulation & safety of funds

On the brokers website we read that the broker brand is owned and operated by a SVG-based company with the name Alpha Tradex LTD. Saint Vincent and the Grenadines is a well-known offshore zone and a preferred location for shady brokerage.

Readers are reminded that the government of SVG has had to publicly state quite a few times in the past that it does not regulate Forex trading and thus we may safely conclude that not only is the brokerage not regulated. Furthermore, trading with an offshore, unregulated brokerage hides a lot of risk. There may be commingling which means that the brokerage may commingle together the finances of the firm and the finances of the clients.

Putting this aside, the brokerage provides the MetaTrader4 terminal which is the foremost platform in online trading at the moment. Through a demo account we could get a look at it. Here is a screenshot:

We could see a spread of 1.6 pips which is slightly above the industry average but still reasonable, as well as a leverage of 1:500 extended to traders. Such a high leverage always hides the risk of the trader losing more than his initial deposit so readers should always take notice. The required minimum deposit is quite low at $50, usually brokerages require at least $250. Putting this aside, the lack of regulation and the offshore location of the brokerage incline us to suspect that potential client’s funds may be at risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

Alpha Tradex deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via VISA and MasterCard, Bank wire and popular e-wallets Skrill, Neteller and FASAPAY, UPayCard, PayTrust, Bitcoin, BitcoinCash, Ethereum, Dash, Ripple, Litecoin.

In the terms and conditions of the brokerage we did find troubling provision which are worth noting. First of all – the brokerage charges a dormant account fee. Here is a screenshot:

We read that account that have been inactive fore more than three months will be subjected to a $50 dormant fee. Furthermore, the brokerage charges withdrawal fees. Here is a screenshot:

The fees are as follows: $50 for wire transfers and $100 for e-wallets. Besides all this the brokerage also posits a minimum withdrawal amount. Here is a screenshot:

The minimum withdrawal amount is $250 for withdrawals via wire transfer and $100 for all other methods. Furthermore, there is a transaction fee of $50 for withdrawals via wire transfer that are less than $250. Such provisions should not figure among the terms of a legitimate brokerage. This is why we remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or The bitcoin miner where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing achargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!u

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus, South Africa4.93/5$100 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite
UK, Cyprus, Australia, SA4.8/5$1 Click for a special offerWebsite


  1. WARNING!!! Stay away from Alpha Tradex. Is a scamm. No doubt about it

  2. Alpha Tradex is a big scam. They give you the illusion you are making money and than they will make you lose it. Be aware!

  3. Hyginus chinweike o

    Please David can you tell me more about your experience

  4. some like mine i made 44000 from 21000 and in one shot i lost all

  5. i tried to make a withdraw and in 8 days i have nothing and when i ask all the time i listen different stories. all the time is something different what is wrong and they use middle bank so they send money and as i dont receive it my bank can do nothing and they did their job so middle bank is guilty and nobody contact it as i dont know which one it is and alpha tradex doesnt have reason

  6. Also, do not engage in contacts with girls from China you “met” (virtually) via TINDER!
    They’ll try to lurk you into setting up an account with Alpha TradeX. The scam is a long call, they’ll put a lot of effort into you, like pics, videos, but mostly time, a lot of time! Read: It might take long, until it happens, but it will!

    1. Chris could you make a more your history

    2. can you tell me more about that?

  7. Alpha Tradex is a scam company! They create their own fake trading symbols like BOR, YM and regulates them as they want. Youll not able withdraw your own money- always will get message: “Withdrawal Failed”,try again, without explaining reason.
    Be aware of these Whatsup nr. involving you into fake trading:
    +852 5300 6459
    +852 6225 6372
    +1 314 3999633
    +44 7365 356615
    +44 7393 108992
    +44 7555 208399
    +44 7721 966176
    +48 501 825 945
    +48 536 140 269
    +370 683 11029

    I’m totally agreed that AlphaTradex is a scam brokerage company. I was lured by beautiful ladies from China to trade. When I want to withdraw it, they gave excuse that their server is down and without my knowledge they disabled my trading account? Their Contact Us number are not available. Leaving you in the lurked with no recourse. BEWARE

  9. SCAM …..
    you cant withdraw , i was in sunlaideal broker , but close my account and they change the server to alpha tradex .

    1. Hi Tito,

      It happened same to me. One guy I met on Tinder introducing me to play it. He spent a lot of time to convience me to play it, he even gave me a phone number of a girl to transfer ( as told she is client customer …). They still let me withdraw a little before I put more money than. Then both of them blocked me when I contacted to withdraw my money. And today my account from Sunlaideal Fe market changed to Alphatradex2-live. These are phone number of them , be careful :
      1. Yerongtian :+852 9561 0326 ( Hong Kong )
      2. The girl L +852 5428 4626

  10. any one know how i can get back my money , its around $20,000
    i will give 20% if i got refund

  11. IT IS A SCAM
    I was introduced by a guy from Tinder and I put a little money to try. At first, they let me withdraw a small amount. After that, I put more money and then I request to withdraw all money, they didn’t let me do it. The guy who introduced me and the girl named ” client service” BLOCKED me on whatapps.

    Now it changed the name from SFEMFX to AlphaTradex2-Live. Please DO NOT trade with this broker. These are phone numbers that they used to contact me :
    – Yerongtian : +852 9561 0326
    – Client service : +852 5428 4626

  12. It is a SCAM, I lost 20K on it. The question is: is there anything we can do to put those guys in jail. I reported things to local police, but the only thing they could do was to keep a record of it.

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