Alpha Alliance Inc. Review

Investors Alert Alpha Alliance Inc. – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)

Introduction to Alpha Alliance Inc.

Alpha Alliance Inc. is a company that claims to be located in Vancouver and Toronto and to offer trading services in cryptocurrency. According to its website, it provides access to various digital assets, such as Bitcoin, Ethereum, Litecoin, and Ripple, through its online platform. It also claims to have a team of experts who can help clients with their trading strategies and portfolio management.

However, Alpha Alliance Inc. is not registered to trade in, or advise on, securities or derivatives in BC, as confirmed by the British Columbia Securities Commission (BCSC)  . This means that it is not authorized or supervised by any regulatory authority in the province and that it may not comply with the laws and rules that protect investors. The BCSC has issued an investment caution against Alpha Alliance Inc. and has urged BC residents to exercise caution when dealing with firms that are not registered or regulated in BC.

Products and Services offered by Alpha Alliance Inc.

According to its website, Alpha Alliance Inc. offers the following products and services:

– Trading platform: A web-based platform that allows clients to buy and sell various cryptocurrencies using different payment methods, such as credit cards, bank transfers, and e-wallets. The platform also claims to have advanced features, such as market analysis, trading signals, and risk management tools.

– Trading accounts: Four types of accounts that vary in terms of minimum deposit, leverage, spreads, commissions, and access to educational resources and customer support. The accounts are: Basic ($250), Silver ($1,000), Gold ($5,000), and Platinum ($25,000).

– Trading education: A section on the website that provides articles, videos, webinars, and e-books on various topics related to cryptocurrency trading, such as market trends, technical analysis, trading strategies, and risk management.

– Affiliate program: A program that rewards clients for referring new customers to Alpha Alliance Inc. The program claims to offer commissions of up to 35% of the referred clients’ deposits.

Financial institution & regulatory license of Alpha Alliance Inc.

Alpha Alliance Inc. does not disclose any information about its financial institution or regulatory license on its website. It only states that it is “operated by a group of companies” and that it is “subjected to the laws of the country where it operates”. However, it does not specify which country or countries it operates in or which laws it follows.

As mentioned earlier, Alpha Alliance Inc. is not registered or regulated in BC or any other Canadian province or territory. This means that it does not have a license from the Investment Industry Regulatory Organization of Canada (IIROC), the national self-regulatory organization that oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. It also means that it does not have a license from the Canadian Securities Administrators (CSA), the umbrella organization of Canada’s provincial and territorial securities regulators that coordinates and harmonizes regulation for the Canadian capital markets.

Trader’s Reviews and Customer Service of Alpha Alliance Inc.

There are very few online reviews or testimonials about Alpha Alliance Inc. from actual traders or customers. The ones that are available are mostly negative and warn potential investors about the company’s fraudulent practices and poor customer service. For example, some reviewers claim that they have been scammed by Alpha Alliance Inc., that they have not been able to withdraw their funds or close their accounts, that they have been pressured to deposit more money or upgrade their accounts, and that they have been ignored or blocked by the company’s representatives.

The customer service of Alpha Alliance Inc. seems to be very limited and unreliable. According to its website, the company can be contacted by phone (with numbers for Canada, UK, Australia, South Africa, Singapore, Hong Kong), email ([email protected]), or live chat (only available during working hours). However, some reviewers report that they have not been able to reach anyone by phone or email or that they have received vague or unhelpful responses.

How to Safeguard Against Fraudulent Brokers

Fraudulent brokers are those who operate without proper registration or regulation, who misrepresent their products or services, who use deceptive or manipulative tactics to lure investors, who fail to provide adequate disclosure or protection of investors’ funds or information, or who engage in any other illegal or unethical activities that harm investors.

To safeguard against fraudulent brokers and avoid scams, investors should follow these tips:

– Check the registration status and disciplinary history of any firm or individual offering investment products or services in BC using the National Registration Search tool provided by the CSA .

– Research the firm or individual using online sources, such as the BCSC’s Investment Caution List , the IIROC’s Investor Alerts , the CSA’s Investor Alerts , or other reputable websites, such as the Better Business Bureau or Trustpilot.

– Be wary of unsolicited offers, promises of high returns, pressure to act quickly, requests for personal or financial information, or demands for upfront fees or payments.

– Read and understand the terms and conditions of any contract or agreement before signing or investing. Ask questions and seek independent advice if anything is unclear or suspicious.

– Keep records of all communications and transactions with the firm or individual. Report any problems or concerns to the BCSC or other relevant authorities as soon as possible.

Conclusion

Alpha Alliance Inc. is a company that claims to offer trading services in cryptocurrency, but is not registered or regulated in BC. The BCSC has issued an investment caution against it and has urged BC residents to exercise caution when dealing with it. Investors should be aware of the risks and red flags associated with fraudulent brokers and should take steps to safeguard their interests and avoid scams.