Alpha Beta FX also is known as ABFX has seven trading accounts. It also features three different trading platforms. The provides facility to choose desired fixed and variable spreads, high or lower leverage levels, micro and mini lots and more. The broker also facilitates Islamic and Multi-Account Managers. The broker is situated on the islands of Saint Vincent and the Grenadines. The overall presentation may look good but the broker is unregulated and it is worrisome. This Alpha Beta FX review will cover every detail of this broker and give a complete picture of it.
About Alpha Beta FX:
The provided seven accounts are Micro, Active, Standard, Zero Spreads, Fixed, ECN, and Pro. The initial investment starting from $5, $100, $1000, to $25000 are required depending upon the choice of trading account. Leverage level of 1:100 to 1:1000 can be seen on the offered trading platforms. Spreads are fixed and variable that can be chosen depending upon the needs of traders. The broker claims to be situated in India and was established in 2009. It allegedly claims that it has branches in countries like London, Dubai, Hong Kong, Malaysia, and SVG. However, the company behind the brand Alpha Beta FX is registered as an international business company at SVG. There are several inconsistencies in the presentation on the official website. The broker claims to be regulated by ASIC of Australia and FCA of UK. However, this claim is false.
Three trading platform like MetaTrader, cTrader, and AlphaTrader are provided. These provided trading platforms are useful for different reading styles. Neat selection of payment methods are available including bank transfer, credit and debit card, also, electronic wallets like WebMoney, Perfect Money, Skrill, Neteller, FasaPay, and other. Close inspections of spreads provided shows that they are not that lucrative. They actually come around 2 pips on EURUSD pair.
Is Alpha Beta FX scam or legit?
The broker claims to offer several trading platforms and many trading accounts. However, the initial investment is not feasible. Also, the spreads provided and leverage offered are quite high. The broker falsely claims to be regulated by FCA and ASIC. It is an unregulated broker and it is a very risky affair to trade with it. Therefore, considering all of this we call Alpha Beta FX broker is a potential scam broker 2020.