Founded in 2022, Alpha Markets is a Cyprus-founded broker that offers Contract-for-Difference (CFD), indices, and commodities trading to South African investors.
The brokerage company offers 1:500 leverage on all its trading accounts with minimum deposits ranging from USD 5 to USD 9. Additionally, Alpha Markets allows its traders to maximize MetaTrader 5 – arguably the most preferred trading platform by most traders.
This makes Alpha Markets ideal for South African traders – or at least they thought.
In this article, you’ll understand Alpha Markets’ regulatory compliance. Explore whether this broker is legit and regulated in South Africa as of 2024.
Is Alpha Markets a Legit Broker in South Africa?
On its website, Alpha Markets claims its incorporation in South Africa as a juristic Representative of Pal Life (Pty) Ltd.
Providing insurance products and financial advisory services, Pretoria-based Pal Life is regulated and authorized by the Financial Sector Conduct Authority (FSCA). The company bears a Financial Service Provider license with the number 43259.
Upon checking the FSCA FSP search, it’s confirmed that Alpha Markets is indeed a representative of Pal Life.
However, these indirect regulations from the FSCA don’t guarantee the investment security you need.
Aside from questionable regulations, Alpha Markets exudes several red flags as a brokerage service provider, including:
- Inaccessible platform
- Extremely vague service information
- Absence of segregated accounts
- No guaranteed funds
What Does Alpha Markets Do?
Claiming to cater to all traders, Alpha Markets allegedly offers access to major financial instruments, including CFD, indices, and commodities.
However, Alpha Markets’ website failed to include details or, at least, a list of securities offered. The inaccessibility of Alpha Markets platforms further makes it impossible to discern the validity of available instruments.
Alpha Markets, Jason Noah, and the Alpha Males
Given its name, Alpha Markets claims its dominance in the South African financial markets.
Its website is packed with content about being a leader of the pack – hence being an Alpha. Such information is insignificant to trading and brokerage services.
Additionally, Alpha Markets is claimed to be represented by Jason Noah – a South African finfluencer. While his influence is there, we cannot guarantee his investment expertise.
How to Contact Alpha Markets?
Alpha Markets’ contact information lacks accessibility.
Finding the contact information you need requires time, as it is scattered throughout the website.
| Website | https://www.alphamarkets.io/ |
| Phone number | +27 12 980 0035 |
| [email protected] [email protected] | |
| Physical Address | Building B, 169 Corobay Ave, Menlyn, Pretoria, 0181 |
However, a website visitor will be welcomed by a contact popup that redirects you to their WhatsApp account.
Remember, social media platforms like Facebook, Telegram, and WhatsApp are breeding grounds for unethical brokers. Given their unregulated nature, brokers run wild at these platforms, often deceiving unsuspecting investors.
Read more: How Fraud Brokers Use Social Media to Scam Traders [2024]
Alpha Markets Trading Accounts
Alpha Markets offers four trading accounts – all seemingly attractive as they’re affordable and profitable with high-leverage offerings.
Here are the trading accounts offered by Alpha Markets:
| Account Type | Minimum Deposit | Trading Fee | Leverage | Bonus |
| Classic Account | USD 5 | Starting from 1 pip | 1:500 | 0% |
| RAW Spread | USD 9 | USD 10 commission | 1:500 | 0% |
| Alpha100 | USD 5 | Starting from 0 pip | 1:500 | 100% |
| Alpha Micro | USD 5 | Starting from 0 pip | 1:500 | 0% |
Alpha Markets offers demo accounts to new users to familiarize them with the market dynamic and its trading platform.
Here’s a quick guide on how to access the Alpha Market demo account:
Step 1: Create an Alpha Markets account
Step 2: Fill in the necessary registration details, including full name, country, phone number, and email address.
Step 3: Log in to your Alpha Markets accounts
Remember, the demo account will only become accessible once you have already created an Alpha Markets account.
Does Alpha Markets Worth Your Attention in 2024?
Despite offering affordable and accessible trading accounts, Alpha Markets lacks the regulatory compliance needed to ensure your investment security.
In fact, this South African broker raises several red flags, including the inaccessible platform, vague financial service description, and the absence of guaranteed funds. These factors should give you pause when thinking of transacting with Alpha Markets.
To find a reputable and credible online broker, consider joining a verified online trading community. This allows you to tap into the genuine experiences and practical knowledge of expert traders, preventing you from dealing with questionable brokers.
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