Beware! Alpha Markets 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 Markets is a broker representative appointed in South Africa by a licensed company. In fact, it seems to be a major representative or the only one, judging by the information we could find on the MT5 platform. Whatever the case, Alpha Markets is not a broker we find trustworthy. See why in the following review.

Alpha Markets Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Alpha Markets
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

Alpha Markets is a product of Pal Life (Pty) Ltd, South Africa – an FSCA-authorised company with license number 43259. On the list of representatives, we could find Alpha Markets SA (Pty) Ltd, so the broker under review is legit. However, the FSCA license is not as trustworthy. The South African authority does not implement many customer protection regulations, so we cannot consider Alpha Markets a safe option, notwithstanding its license.

The three things missing in every FSCA license are the following:

  • account segregation – South African brokers are not obligated to put customers’ deposits in segregated accounts, which is a significant risk.
  • negative balance protection – according to this rule, account balances cannot fall below zero. If this happens, the broker has the obligation to provide funds and bring the account to zero. As you can guess, while trading with Alpha Markets, you may end up indebted! Beware!
  • guaranteed funds – FSCA does not maintain deposit insurance funds, so if brokers end up in trouble, customers won’t get any compensation whatsoever – they will suffer the loss!

Hence, Alpha Markets is probably not the right broker for you. Not to mention that its services are still illegal in many countries having their own regulatory framework. You’d better find other brokers to trade with.

Choosing one may very well depend on where you are located. For British traders, it’s always best to go for a broker licensed by the Financial Conduct Authority (FCA). In the EU, the majority of companies are regulated by CySEC in Cyprus; for Australians, you’d better look for ASIC brokers; in the US, it’s best to stick to CFTC/NFA brokers. And if you live somewhere else, where, for example, the local Forex regulations are not mandatory, it’s still recommended to trade with FX providers regulated by respectable authorities. They provide segregated accounts, negative balance protection and, depending on the country, deposit insurance funds may be available. For example, clients of CySEC brokers can claim up to €20 000, while in the UK, the coverage is up to £85 000 per person.

Alpha Markets Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Alpha Markets platform30+ indicatorsAndroid and iOS
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

Alpha Markets offers MT5, arguably the best platform you can find, which is indeed offered by many other adequately regulated brokers. However, accessing Alpha Markets’ terminal turned out to be a mission impossible, as there was no way we could open an account. It was attainable neither through the platform itself nor through the Dashboard after registration. Hence, we cannot even confirm that the software is working, but as already mentioned, most of the leading brokers offer MetaTrader 4 and 5, so there is nothing to worry about. You won’t miss a thing if you don’t trade with Alpha Markets.

Speaking of MetaTrader 4 and MetaTrader 5, both platforms are considered the best options for retail Forex. MT5 is the newest and is considered the better version, but even if you trade with MT4, you’ll still have access to automated trading, custom indicators and plenty of analytical tools.

Alpha Markets Trading instruments

Alpha MarketsYesYesYesYesYes

The actual trading instruments remained unknown. With no platform, we cannot confirm anything, and worst of all, the broker does not even provide information about the pairs available. Instead, the entire website is stuffed with pointless content about “leaders of the pack”, alpha males, achievements, passion and other useless garbage that’s not related to trading. In fact, the broker is linked to Jason Noah, a South African celebrity, so in the Forex world, as well, we can see an influx of “heroes”. Just think about all the crypto scams linked to celebrities. We don’t want to say that Alpha Markets is a scam, but it’s certainly not a serious broker. Avoid it!

Alpha Markets Spreads and cost of trading

Alpha MarketsXMFBSFXTM
Spread EURUSD1.711.1
Spread GBPUSD1.31.21.4
Spread USDJPY1.31.21.4

The minimum spread is said to be 0.0 pips, but as you can guess, we cannot verify these claims at the moment. If Alpha Markets fixes its broken Dashboard, we may update this section, but currently, the spreads and cost of trading remain unknown.

Alpha Markets Maximum leverage

Alpha Markets broker500:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

The maximum leverage is said to be 500:1, but once again, we cannot confirm this ratio is actually available. It probably is, but that doesn’t change the fact that Alpha Markets is not a good broker.

Alpha Markets Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Credit cardInstant24 hoursFree
Ozow1 hour24 hoursN/A

The alleged funding methods available are Credit/Debit cards and Ozow. Actually, we cannot confirm this information either. To test the deposit system, we had to open an account first, which was impossible to achieve, as you already know.

Alpha Markets Minimum deposit

Alpha MarketsXMFBSFXTM
Minimum deposit$5$5$10$5

The minimum deposit is $5, so Alpha Markets happens to be a low-deposit broker. However, this certainly doesn’t change the fact that Alpha Markets is also not trustworthy, notwithstanding its license.

Alpha Markets Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Alpha Markets / offshore brokersNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

There is absolutely no information about withdrawals. As mentioned, Alpha Markets isn’t a trustworthy partner, and it proves it once again by hiding critical details about withdrawals. Stay away!

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