When browsing AlphaBinary, the main problem was that the broker did not provide his physical address in the contact section. On the other hand, if the broker no longer provides communication methods such as email, phone, text messaging, and chat, and has a support team that does not seem to understand the trade or is evasively asking certain questions, this could be a sign that a scam is or at least a low-quality broker. Try customer service while investigating a broker’s case, but keep in mind that even rogue brokers can appear friendly and helpful at first and then show their true colors.
In general, the FCA advises UK investors not to invest with this broker. We do not recommend trading with AlphaBinary as this broker was suspected of being a scam. If you have already signed a contract or sent money to this scam broker, please contact btc-scam as soon as possible to get in touch with the Fund Recovery specialists to withdraw funds to AlphaBinary. If you have already lost money from a broker without withdrawal, contact us for advice.
Some fraudulent brokers claim to be regulated and registered by a government agency that does not control or regulate forex companies. A number of unregulated brokers like AlphaBinary have been reported to cheat people. Forex trading scams usually mimic the selling approach of a reputed broker or investment firm. The growing number of scammers in the foreign exchange market makes even traders doubt real brokers.
If you choose a broker, remove AlphaBinary from your list and select only a regulated and duly licensed broker. The above information is not enough to start trading with AlphaBinary. He can cause huge losses to his clients and therefore, in our opinion, is a potential scammer. AlphaBinary hides most of the trading conditions and raises suspicions. Obviously, AlphaBinary did not do any of the above, and could not even be regarded as a broker, but just a scam in the foreign exchange market. This is why it is important to learn more about AlphaBinary before opening an account and sending money or submitting any documents. We recommend that all investors and traders avoid AlphaBinary and other Vanuatu brokers.
For further reading, please see AlphaBinary: scam