AllfinaGroup Review – 5 things you should know about

AllfinaGroup Review – 5 things you should know about

Rating: 1

Beware! AllfinaGroup 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.


AllfinaGroup is supposed to be “a modern project that aims to create a global financial company” that has “earned an impeccable reputation among its competitors” and “developed the latest investment strategies to protect and increase your capital”. Do not fall for these big words – there is no truth to anything this broker says and we found it very easy to prove so. Read the review below to find out why investing with this broker will definitely only result in profits for the broker itself.


AllfinaGroup is based in St. Vincent and the Grenadines which makes them an offshore broker. And while not all such brokers are scammers you should probably refrain from doing business with such companies unless you are sure that you are dealing with a branch of a reputable international brokerage. St. Vincent and the Grenadines does have a financial regulator – but that regulator has warned investors on multiple occasions that it does not supervise the activities of forex brokers and does not impose any laws in the sphere of forex trading. That is why so many scammers have set up companies in this specific country.

The fact that the Spanish financial regulator, CNMV, has recently issued a warning on this broker does not help their case. In fact, it proves with almost complete certainty that investing with this broker will only result in you getting scammed.

Turn to a licensed EU broker if you want to ensure the safety of your investment. Working with somebody licensed means that you would be treated fairly and in accordance with many laws and would always know who and how is handling your money. EU brokers are obligated to report to authorities on a regular basis and have to prove that they are financially stable by maintaining a minimum capital of €730 000. The sum can be even bigger if the broker has more clients. EU brokers participate in compensation schemes – so if your broker becomes insolvent, you could receive a compensation of up to €20 000. Negative balance protection prevents you from losing more money than you have in your account. Client money must always be kept in segregated bank accounts – this proves that your broker would not be able to use your deposits for any of their own financial operations and additionally ensures full transparency.


AllfinaGroup offers access to the web-based trading platform you can see below:

Such trading platforms are actually decent enough – they are easy to use which makes them a good fit for beginner traders but still provide some useful indicators and additional trading tools. However, since the number of those tools is quite limited, you will find that you would not be able to get the most satisfactory trading experience out of such a platform – compared to its competitors, MetaTrader 4 and MetaTrader 5 – this software seems quite rudimentary.

Better check out these brokers who offer MetaTrader 5 – considering how efficient and user-friendly the software is, it is easy to see why it is the most popular in the industry. The platform offers many great tools and features such as Expert Advisors, VPSs, possibilities for creating custom scrips, a multi-threaded Strategy Tester, the chance to set signals and subscribe to those set by others, a community chat, a market for add-ons, etc. Give the platform a try if you want to see what the best the trading world can offer is.


AllfinaGroup does not seem to offer the most favorable trading conditions. The spread we got on the broker’s platform was all but great – 3 pips on EURUSD. This means that you would have to pay $30 for every lot you trade with this broker which is not exactly great. Such a spread will quickly eat away all of your potential profits. Investing in such a broker is simply not worth it when many amazing companies can offer 3 times better spreads.

The leverage we got was 1:200 and could not be changed – we did not get access to our own leverage settings. This is quite bothersome since using leverage responsibly is essential if you do not want to end up losing huge amounts of money. Leverage increases your trading potential which means that trading with high rates could result in decent profits. However, suffering big losses is just as likely especially if you do not have the necessary knowledge or experience yet. We urge you to trade with ratios you are sure you can handle – here are some brokers who can legally offer high leverage.

In order to start trading with AllfinaGroup, you would have to invest at least $250 which is slightly too much for a minimum deposit. There are much better brokers who can offer accounts for $100 or less.


AllfinaGroup accepts deposits made with a credit or debit card or in crypto – the broker supports payments in Bitcoin, Ethereum, and Tether. We strongly urge you not to deposit with this broker since they will most definitely try to scam you. Moreover, if you have deposited in crypto, you would have no way of retrieving your money since such payments are absolutely irreversible. If you have used a Visa or MasterCard card to make a payment, however, you might still stand a chance of getting your money back – such payment can be reversed within 540 days of the transaction.

It is worth pointing out that AllfinaGroup also offers bonuses – but as with all scam brokers, those come with strings attached. The moment your account has been credited with a bonus, all profits that were not been generated on account of your deposits will be considered non-deposited funds.

Those funds cannot be withdrawn unless you have reached a quite huge trading volume – 25 times your deposits plus the bonus. The problem with this is simple – nobody would be able to tell if certain profits were the result of your deposits or of the bonus. This is a simple trick scam brokers often use in order to prevent you from withdrawing your money too soon – so that they could have more time to convince you to deposit bigger amounts and then simply disappear with all of your money.


Read the following paragraphs carefully – such scams have become quite the industry in recent years which is why it is important to know how they work in order to protect yourself from them.

It all starts innocently enough – you see an ad on the Internet for a broker who promises you fast, secure returns and entry into a life of luxury. Maybe you have heard about people earning a month’s pay by trading – so you decide to check out the website, and set up an account. After all, there is no harm in seeing what the company has to offer – and those promises are often extremely attractive. The moment you give the scammers your phone number or email, they will constantly be trying to get in touch with you and make you invest. Keep in mind that these are professional scammers so they can be very convincing. Once you have made your first deposit – and if they don’t run off with your money immediately – the scammers will ask you for bigger and bigger deposits. And you will gladly transfer this money since you will probably be turning a profit – on a manipulated platform.

Once you try to withdraw, however, you will run into trouble – the broker will make up reasons why this cannot happen – be it additional taxes, or shady clauses in the Terms and Conditions. At some point, you will figure out something is wrong – but the broker will be long-gone by then. Don’t count on them returning any of your calls.


Keep in mind that, sadly, there is not a big chance of you getting your money back. There are, however, some things you can do – and hope for the best.

Firstly, change all the passwords and banking details you have given the scammers access to. If you have given them remote access to your computer, remove the software immediately.

If you have deposited using Visa or MasterCard, file for a chargeback – both card providers try to fight scams and allow such chargebacks within 540 days. Retrieving money if you have used a wire transfer, or an electronic payment solution is much harder – but still, contact your bank or payment method provider to see if anything can be done.

Notify authorities, and share your story online and in your acquaintance circle – this way, more people will know about such scams and try to stay away from them.

Finally, don’t trust any “recovery agents” promising to hunt down the scammers and retrieve your money for a fee – this is just another type of scam.

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