Alfa Assets review – 5 things you should know about alfa-assets.com!

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Beware! Alfa Assets is an offshore broker! Your investment may be at risk.

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Alfa Assets is a scam – that is something that should be made abundantly clear from the get-go. The broker has attracted the ire of the Spanish regulatory body, the CNMV. Here is the warning that the regulatory body has posted on Alfa Assets:

As you can see from it, it seems that Alfa Assets has been providing its services in Spain without the approval of any regulatory body. An it is quite clear that this is the case, with the broker’s domain being explicitly targeted towards the Spanish markets – the entirety of the domain is only available in Spanish.

Do you need more reasons as to why Alfa Assets should be avoid? By all means keep reading – there are a lot more shady things the broker does:

Alfa Assets regulation and safety of funds

As you can imagine, a broker with a scam warning against it is not licensed. The regulatory body that issued the warning, the CNMV is among the most vigilant EU regulators. It demands that all companies that wish to operate on the Spanish market prove they have at least 730 000 euro to their name, as to mitigate possible losses from the volatile Forex markets. It also demands that companies report on a daily basis on open and closed trades to ensure that no scam can take place.

There are a lot more regulations, of course, but as you can see, trading with licensed brokers is much smarter than trying to turn a profit with ones like Alfa Assets.

Alfa Assets trading software

Alfa Assets provides access to a web-based trading platform. Here is what that looks like:

The platform is obviously inspired by industry standard Metatrader 5, but it lacks its powerful automated trading features. And while Alfa Assets claims that it also offer the MT5 platform, the only link to it is for the following stock distribution that the broker probably got straight from the MetaQuotes website:

Therefore, only the first platform is representative of Alfa Assets – and it has spreads way higher than the commonly accepted 1 pip! What’s more, the leverage Alfa Assets provides is much higher than any amount that should be available to retail traders – 1:200. A common strategy among unlicensed brokers is to offer such high amounts with the hopes of attracting clients – so watch out when you see them in the wild!

Alfa Assets deposit and withdrawal methods and fees

Alfa Assets accepts deposits via credit cards and Bitcoin. The deposit method you used determines whether you will be able to file a chargeback – all Bitcoin payments are final, while cards allow for refunds within 540 days of any transaction.

And a chargeback might be the only way you can get your money back – Alfa Assets offers bonuses, but it never tells you what terms these bonuses are bound with. This is a common tactic among scammers – they grant bonuses but then turn around and say that to withdraw, one needs to achieve an impossible turnover. We believe that might be the case here as well.

How does the scam work?

The scam Alfa Assets runs is fairly old, but relentlessly efficient. Here is how it plays out:

First, someone stumbles on the website Alfa Assets operates from – they are then prompted to create an account, leaving a phone number in the process. Should they do that, the scammers will start calling around the clock to demand money. No amount of it will satisfy them – they will demand more and more from their victim until it is bled dry! The harassment can only stop if the victim realizes what’s going on and demands a withdrawal, or stops depositing altogether – at which point, the scammers will cut them off.

What to do when scammed?

If what we described above sounds familiar, you might be the victim of a scam. Here is what you need to do to prevent further losses:

First off, recall what credit cards, forms of ID and so on you gave the scammers access to – and get new ones issued ASAP. Also, remove any form of remote control software from your PC – scammers often use programs like TeamViewer to snoop around without your permission.

Then, it is time to think about getting your money back. The best way to do that would be by contacting your bank and explaining your situation to them. They will walk you though whatever steps you have available to file a chargeback. If you are approached by a recovery agency, however, do not give it a dime in advance fees – these “agencies” are simply another scam!

Finally, leave your thoughts on Alfa Assets in the comments section below – by doing so, you will be helping us raise awareness of the scam, and hopefully protect others from being victimized by it!

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