Alpha Financial Group experience: The crypto exchange test
Crypto exchanges are now a dime a dozen. Demand clearly determines supply. Since the various cryptocurrencies have secured a firm place in our everyday lives, there is also an increased demand for opportunities to access the sought-after virtual coins. But the large selection does not exactly make it easy to choose a suitable crypto exchange.
In our Alpha Financial Group test, we therefore take a very close look. Does Alpha Financial Group work seriously or are there suspicions of an Alpha Financial Group scam?
We also want to know what the crypto community has to say about the Alpha Financial Group app. So we also take a look at the Alpha Financial Group experiences and Alpha Financial Group reviews of other users.
Before you invest head over heels in a crypto exchange, you should first take a little time to research this provider. Because where people invest, there are also fraudulent providers.
First of all, we should clarify what there actually is for users to get from the Alpha Financial Group app. On the website, it quickly becomes clear that this is not just about trading cryptocurrencies. It is also about buying and selling:
Forex (currency pairs) is part of the offer.
There are generous levers of 1:400, which brings with it some risks, but also opportunities for big profits. As for CFDs, there are also indices and commodities.
Besides the commodities coffee and cotton, there are also natural gas and tin, among others.
The selection of cryptocurrencies is also dizzyingly large. In addition to the well-known Bitcoin, there is also Nem, Monero, Dash and many other cryptocurrencies.
So as far as the offer is concerned, most traders should feel at home here. This is because Alpha Financial Group offers far more than the average crypto exchange. Thus, the platform of Alpha Financial Group is not only suitable for beginners, but also for advanced traders who want to spread their wings further.
The client account
Opening a client account with Alpha Financial Group is free of charge. On the platform itself, traders then have access to chart analyses, market overview, economic calendar and financial calculator.
There are also several account types, depending on the deposit: Bronze, Silver, Gold, Platinum, Pre Diamond, Diamond and VIP. With VIP, the deposit is 250,000 euros. It is not clear whether a customer has ever reached this status. Moreover, the operators do not really explain whether the different account types bring advantages.
Of course, when choosing the right crypto exchange, it also depends on how high the fees are with the various providers. You should not be unsettled by the fees and costs, but first clarify what you intend to do on the crypto exchange:
Is it just to buy cryptocurrencies sometimes and let them rest as long as possible because you hope for a future increase in value?
Or is it more about actually actively trading the sought-after coins?
According to one's own focus, it makes perfect sense to also place the financial focus here.
As far as the fees at Alpha Financial Group are concerned, customers must first open an account in order to receive further information.
There is no information listed on the website that would provide information about the fees and costs.
Which deposit and withdrawal options are accepted?
In order to make trading digital currencies as pleasant as possible, you should make sure that there are sufficient deposit and withdrawal options available.
At Alpha Financial Group, the following options are available to customers:
Visa card and MasterCard and
Depositing and withdrawing with the Alpha Financial Group app should therefore not be a problem.
Rather, investing on the platform itself and in the cryptocurrencies entails many risks. So anyone who is not comfortable with the possible loss of 5,000 euros should not venture into this investment.
Let's now take a look at what clients can expect in terms of the platform. At Alpha Financial Group, the web-based trading platform is the main focus. There is not yet an app for smartphones.
However, providers who want to remain up-to-date in the long term should focus on creating an app. It is not clear whether clients can expect an Alpha Financial Group app in the future.
Especially for beginners, it is usually not so easy to distinguish a reputable platform from one that is not. That's why you should pay attention to a few points when looking at a website. On the one hand, customer support should definitely be available.
This is definitely the case with Alpha Financial Group:
There is not only the possibility to contact the support via a contact form, but also via an English telephone number.
Furthermore, you should look out for a detailed imprint. This is the first point of criticism of the Alpha Financial Group app. An imprint is missing here.
What can be found out about the operators is that the platform is run by the Swiss GVV Tec AG. The address is in Zurich.
However, when looking at the general terms and conditions, it also becomes clear that this crypto exchange is an unlicensed offer.
What do the testimonials look like?
We want to know what the crypto community has to say about Alpha Financial Group. So we took a closer look at the Alpha Financial Group experiences and Alpha Financial Group reviews on the web. Unfortunately, not all customer testimonials are positive. In addition to some positive Alpha Financial Group experiences, we also found some negative reviews.
The critical investors criticise facts that also played a role in our Alpha Financial Group test. These include the lack of an imprint and the general reluctance to provide valuable information on the website.
Alpha Financial Group Conclusion
In our Alpha Financial Group test, we had the opportunity to take a close look at this provider. Like any other crypto exchange, Alpha Financial Group has both advantages and disadvantages.
One of the disadvantages is certainly that there is no information on fees on the website. It is also likely to put off some customers that the offer is not licensed.
If you want to take a look at the advantages, you will definitely see the large range of CFDs and cryptocurrencies in the balance. No one can match this provider in a hurry. The deposit and withdrawal options are also satisfactory. However, anyone depositing here has to clear a financial hurdle of 5,000 euros.
Conclusion: We can neither give a clear recommendation nor a clear rejection for the Alpha Financial Group. It is up to each individual to decide whether they want to test the offer or prefer to go to a licensed exchange with a lower minimum deposit.
Recommended alternative to Alpha Financial Group: eToro
If you want to buy Bitcoin quickly, we recommend the broker eToro. In addition to a clear user interface, state regulation and copy trading, the big advantage of the platform is that both Bitcoin CFDs and real Bitcoin are available for trading. Moreover, with ~1.8% total costs, eToro also proves to be the top dog in terms of price.