Unveiling the AlfaBTC Scam: Is Your Money at Risk?

AlfaBTC advertises itself as a “reliable online trading platform, which has been tried and tested by millions of traders from all over the globe” on its website, which is intended to foster confidence. In truth, however, this website is nothing more than a scam, and a rather cunning one at that, as they seem to be trying to con traders by fraudulently using the credentials of a legitimate and duly regulated UK company. This website is an example of a clone.

Is AlfaBTC a Licensed Broker?

In the “Affiliates and Regulations” section of the website, Alfabtc claims to be affiliated with three Swedish, UK, and Canadian companies: Agenta Investment Management AB, Cryptopay Limited, and ASSET MANAGEMENT L.P. The Finansinspektionen in Sweden, the Financial Conduct Authority (FCA) in the UK, and “Canadian Securities Administrators” licenses are designed to provide peace of mind and maximum money security.

OK, but Alfabtc has no connection to any of the following firms. Take FCA-licensed Cryptopay Limited in the UK. Cryptopay Limited’s only permitted domain name, cryptopay.me, does not match alfabtc.com.

Alfabtc is a “clone website,” where criminals exploit the licensing credentials and other corporate data of a legitimate and regulated organization, in this instance FCA-licensed Cryptopay Limited, to deceive traders.

Why Should Not You Trust an Unlicensed Broker?

You run the risk of losing all of your money if you fall for a scam to open an account and fund it with an unlicensed broker, not because you made poor trading decisions, but rather because you won’t be able to withdraw even a single penny.

Warnings From Financial Regulators

As this company is just founded in 2022, this is not yet get any warning from any regulatory authority. But, as the way this company operates we are getting reports against the this is not so far that it will soon be warned.

Leverage and conditions

The AlfaBTC website’s account type descriptions exclude details on fundamental trading factors like spreads and leverage. There is just an outrageously high minimum deposit requirement of 10,000 EUR. In contrast, most regulated brokers’ minimum deposits never go below 100 EUR/USD/GBP. Even with as little as $10 USD, you may start trading with several reputable platforms.

Minimum Deposit and Withdrawal Terms of AlfaBTC

Apart from the fact that the minimum deposit requirement is just $250 USD, which is around the same amount as the requirements of most brokers anyhow, not much regarding payment methods could be inferred from the Alfabtc presentation.

Platform Offered by AlfaBTC

Alfabtc claims to provide a cutting-edge, web-based trading platform, but we were unable to access it. Just keep in mind that your new broker is clearly not to be trusted if they do not provide you with any tested and dependable trading software, such as the industry standard MetaTrader4 and MetaTrader5, as we are dealing with outright fraud in any case.

Victim of AlfaBTC Scam? Report Your Story To Us.

Are you a victim of AlfaBTC scam? Submit a report to us. We will provide you with a free consultation and some recommendations on your lost fund recovery process.

If you have lost money to companies like CMTPro, Binetrix, or Antares Trade, please report it today by bellow form.

File A Complaint Against Scam Brokers

Ways to Make a Deposit

AlfaBTC accepts payment from Bitcoin only and that is why we are assuming this is a scam. As we see most scammers want to use Bitcoin transaction as it is irreversible and non-traceable.

Country Serving by AlfaBTC

Canada, Sweden, the UK, the Netherlands, and Norway.

What Do Traders Think Of AlfaBTC?

When we went to Trustpilot to verify evaluations of traders, we saw a notice that said, “We suspect these ratings link to review seller networks that purchase and sell phony reviews.”

Therefore, everything positive you read about AlfaBTC services on forums might possibly be a fraudulent review. Be aware that fraudsters often use bots and purchase reviews to draw in more investors, steal their money, and then vanish.

Final thoughts

Since you should never make deposits using cryptocurrency, we highly suggest you to stick with more traditional payment methods, particularly while you are trading online.


  1. Is AlfaBTC trusted?

No, AlfaBTC cannot be trusted. They don’t have any regulation or license to operate in the UK.

  1. What is the problem with an unregulated broker?

Since they are well hidden behind fictitious offshore businesses, you have no prospect of finding the real owners of an offshore broker and taking them to court.

  1. Is it possible to recover my scammed money?

Yes, most of the time, it is possible. Organizations like Report Scammed Bitcoin help people to successfully recover their lost funds.

  1. Can MT4 trades be faked?

No, this is not possible to fake MT4 trades.

  1. How do I know if a forex broker is real?

If the broker can be found in the regulatory database, you can tell that the broker is real.

    Online Trading Complaint Form



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