Alphanion Review: Is Alphanion.com a Scam?

Alphanion (alphanion.com) is a copy of Astobull, another forex trading scam with a slightly different look. It seems these are sister platforms whose main aim is to attract naïve investors. We have a platform that fails to generate any profit for investors. Even skilled traders are having a hard time withdrawing funds with the platform. And this is why we have to expose the risks that come with it. Please find out more in our exclusive ALPHANION REVIEW.

A Brief Summary of Alphanion

The about us section made us realize Alphanion is a clone trading platform. Everything about it is the same as the sister platform. Even the claim that the platform is available in eight different countries.

You would expect regulation with the platform claiming residence in Alexandria, Tennessee. But, unfortunately, there’s no U.S. crypto or forex regulator that seems to know this platform. And this is the reason why we have to warn investors from signing up.

You should avoid anonymity and unregulated platforms at all costs. But, unfortunately, we have a platform that fails to deliver results. So you have to be extra careful with what you read from cloned platforms.

Most of the relevant information about actual trading is missing from the platform. For example, we don’t have the platform’s background and history to check out. And this means we have to dig deeper to find out who actually owns the platform.

When investing with online platforms, you need to use advanced tools to help advance your course. And this means using the best forex trading bots the industry has to offer. So go for recommended forex bots that assure you trade smoothly.

Another critical aspect to check out is due diligence. It would be best if you found out what makes a platform tick. And this means having to learn what others are facing with the platform. Try and read reviews about the platform before committing funds to it.

Accounts Alphanion

Alphanion offers four account types to choose from. Of the four, one is a demo account where investors get a buy/sell option. We don’t recommend using such demo platforms as it doesn’t offer a real chance of trading.

What you need is an account that will cater to your needs. The three accounts include ECN, Family, and Standard accounts. Unfortunately, the platform remains muted when it comes to available account features.

You only get promises of getting exciting leverage and tight spreads. When you open an account, that’s when you realize the platform is fooling investors. You need to stay away from the platform or avoid losing everything.

We must call out the high leverage set by the platform. The maximum leverage is 1:1000, which is against regulation. You get minimum acceptable leverage of 1:500. And this is another reason to stay away from Alphanion.com.

Regulators have put a cap on leverage to protect investors. 1:100 is the maximum acceptable leverage in Europe. The United States sets maximum leverage of 1:50 for retail traders. Any platform going above the recommended leverage is putting your investment at risk.

Account Features

You will notice that the platform fails to give information on what to expect. A transparent platform will inform traders beforehand of account features. However, we believe the platform wants to take advantage.

Another issue with the platform is failing to mention the acceptable minimum deposit. You should know that regulators in nearly all jurisdictions have settled for $250. In Europe, the amount is €250.

Alphanion.com will claim that the more you deposit, the higher your chances of winning. Although trading requires patience and funds, you can even profit from $10. Therefore, we believe the platform wants investors to deposit more with them.

With unfavorable trading conditions, chances are you will lose funds. The high leverage and not-so-tight spreads will work against you. And this is the reason why we must expose the deplorable account features.

Affiliate Program

With the platform offering affiliates, contests, and promotions, you must tread carefully. Ensure you know that the platform you direct users to is compliant and trustworthy. Instead, what we have is a clone that rips off investors.

Don’t expect to earn any commission from the platform. Several affiliates have lost their reputation after directing users to the platform. Victims will blame you for the lost funds, and the law will see you as an accessory to online fraud.

Alphanion License and Registration Status

Alphanion is not a licensed platform and doesn’t show any registration signs. And this is a major problem for investors. The platform is free to operate without any regulatory framework as they wish.

And this is why you see high leverage and an unknown depository amount. You should check and confirm with regulators whether a platform enjoys compliance. Get to know the regulators that ensure all platforms adhere to strict industry guidelines.

These regulators include ASIC, BaFIN, CFTC, CNMV, CONSOB, and CySEC. Others include FCA, FINMA, FINTRA, NFA, and the SEC. Go for platforms that adhere to strict industry guidelines.

Are Funds safe with Alphanion?

Funds are far from safe with a platform that fails to offer investors a real trading environment. The platform also fails to segregate accounts as dictated by trading regulations. Your funds also don’t enjoy insurance cover.

Business Holder

We also don’t get to see any information on who owns or runs the platform. We have a platform that fails to deliver on its promise of transparency. An anonymous online investment platform should be the last option on your mind.

Despite claiming to reside in the States, there’s no proof of it. We don’t have a physical address to confirm their location. So instead, we have a platform that uses the U.S Jurisdiction to fool investors.

Client Testimony

Several clients have been venting their anger on social media platforms. Most seem to share the same story. After trading and making a profit, withdrawal becomes the major pain. None of them have been able to withdraw funds for the past few weeks.

Attempts to make contact with support have borne no fruits. Instead, it seems the platform is hell-bent on stopping members from withdrawing funds. Unfortunately, we can see that the same is also happening with their sister platform.

Contact and support

Despite claiming to have a strong support structure, we doubt it. The chat tab is another avenue for the platform to harvest personal information. After leaving your address and contacts, the platform sells them to marketing agents.

That’s why after signing up, you start getting promotional emails from different products and services. No one even subscribed for these emails, which is a clear breach of trust. So please stay away from such trading platforms.

Funding Accounts

Depositing funds with the platform is effortless, thanks to the numerous depository options. You can deposit funds via bank and wire transfer. Unfortunately, the platform doesn’t accept crypto deposits. Withdrawing funds remains the most significant hurdle facing investors.

You won’t get the chance to withdraw funds. Those who claim to do so are affiliates of the platform. The platform will accept withdrawals for small amounts. You have to have a huge balance for the platform to release a small amount.

Our Verdict

Please stay away from Alphanion.com. The platform will fail to observe any regulations and will likely shut down soon.

We recommend using affordable forex trading bots with a proven reputation. These bots offer transparency and a chance to win.

If you have any queries, drop a comment or write to us.