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AlumFX

Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?

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    AlumFX broker review – empty promises and fraud, traders’ reviews

    Company AlumFX attracts attention with its approach and proposals, establishing itself as a reliable partner for traders. Founded with the aim of providing quality brokerage services, Sharaga strives to provide its clients with transparent and favorable conditions for trading in the global financial markets.

    Status

    SCAM

    Year of foundation

    2011

    Affiliate program

    No

    Regulation and jurisdiction

    FCA

    Website

    http://www.alumfx.com/ru/index.php

    Contacts

    +44 (0) 2079474999 

    [email protected]

    AlumFX Warnford Court 29 Throgmorton Street London EC2N 2AT

    Pros
    • Platform MT4
    Cons
    • Money scam
    • Fake FCA license
    • Lack of support
    Trading Platform

    MetaTrader4 (MT4)

    Currenex Classic

    Currenex Viking 

    WebTrader

    Mobile Platform

    Types of accounts

    Not provided

    Currency

    USD, EUR, AUD, GBP

    Deposit/withdrawal

    Credit cards Visa/Mastercard/Maestro

    Electronic wallets

    Cryptocurrency

    International payment systems PayPal, Skrill, WebMoney

    WireTransfer

    Min Deposit

    $200

    Leverage

    1:100

    S

    From 0.1 to 3.0 points (fixed and floating)

    Financial Instruments

    Cryptocurrency, currency pairs, indices, commodities, precious metals, shares of large international financial corporations, energy.

    Liquidity Provider

    Boston Prime, Currenex

    Order execution

    Market Execution

    About the broker AlumFX

    Company AlumFX was founded in 2011 and in a short period of time was able to reach the international level, establishing itself among the leading investment companies in the field of online currency trading. After several years of operation, the counterparty was rebranded and is now known as GCM Prime, continuing its activities. Name changes are typical for scammers and scammers. A new brand is an opportunity for scammers to clear their reputation.

    The broker is supposedly registered and regulated in the UK. The company’s head office is located in London, which underlines its commitment to international recognition and compliance with high business standards. However, there is no mention of the project in the registers. Scanned copies of licenses are also not provided AlumFX official website filled with nothing but empty promises.

    From the very beginning of its existence, the broker declared itself as a company created by professional investors for traders, which reflects its focus on the interests of clients and the provision of services that are maximally adapted to the needs of financial market participants. Main liquidity provider for FX Alum – Boston Prime Limited company, which guarantees clients access to high-quality and reliable quotes. However, there is not a single document confirming the authenticity of such a partnership.

    The project has a fairly solid legend, but even a superficial check of the scammers’ statements will reveal the lies. Conversations about FCA regulation and British registration must necessarily be supported by licenses, a certificate of incorporation – all this is missing.

    Terms of trading with broker FXAlum

    The office promises traders access to a wide range of trading instruments, including currency pairs, precious metals, company shares and other assets. The company uses STP (Straight Through Processing) technology, providing direct access to the market and liquidity providers, which guarantees high order execution speed and the absence of requotes.

    Of course, this is another lie. Sharaga operates illegally and therefore has no direct access to markets. Trading is carried out exclusively on internal kitchen servers.

    Sharaga offers different types of trading accounts, tailored to the needs of different categories of traders, from beginners to professionals:

    • Standard: for beginner traders with a small initial deposit;
    • Professional: with lower spreads and commissions for experienced traders who are ready to handle high volumes;
    • ECN: for direct market access and best prices from liquidity providers.

    The fake broker provides its clients with the opportunity to trade through the popular MetaTrader 4 (MT4) platform. However, all its advantages will not help in any way in terms of making money, since the scam uses quote manipulation to steal investors’ money.

    Sharaga talks about the following benefits of cooperation:

    • access to educational materials, including webinars, video tutorials and articles to help traders improve their trading skills;
    • daily market reviews and analytical forecasts from leading experts;
    • 24/7 support through various communication channels, including telephone, email and online chat;
    • transparent trading conditions thanks to the use of STP technology and openness of information about liquidity providers;
    • low spreads and commissions, which makes trading more profitable for clients;
    • the ability to use various trading strategies, including scalping and hedging.

    These are fake benefits that have nothing to do with real work with AlumFX personal account There is no point in registering, since this is a Forex kitchen, not a regulated broker. Trading conditions are described very superficially. Charlatans chose not to disclose information about spreads and commissions. Statements about the efficiency of support are a big exaggeration. Technical support functions as inefficiently as possible.

    Signs of AlumFX scam

    Studying available information about the company AlumFX reviews clients have identified several suspicious points and signs that may indicate potential risks for traders and investors:

    • One of the key factors that you should pay attention to when choosing a broker is the availability of a license from a reliable regulator. In case of AlumFX it was said about control by the FCA, but this is a lie. There is no information in the registers of the British regulator about the issuance of a license to the office in question. Scammers are simply trying to hide behind a reputable jurisdiction;
    • ambiguity or complete absence of information about the place of registration of the company, its legal address and contact information are also signs that raise suspicion. Such data should be easily accessible and transparent to all potential and existing customers;
    • a lot of negative reviews from clients who encountered problems with withdrawal of funds, technical failures of the platform, as well as the inability to contact the support service, indicate the unreliability of the broker. In case of AlumFX complaints about fraudulent schemes and loss of funds have been identified, which is a serious warning for potential clients;
    • if the company does not provide complete and clear information about trading conditions, commissions, spreads and other important aspects of the work, this indicates an attempt to hide unprofitable service;
    • reports of technical failures, delays in order execution or inability to access an account at critical times are also considered signs of fraud or at least poor quality of services;
    • Any promises of high returns without mention of the risks associated with Forex trading should be considered potentially deceptive. Trading on the market always involves the risk of losing funds.

    Scammers parasitize on the topic of Forex trading, promising stable earnings with AlumFX Investments into such projects is a priori a losing decision. The scammer uses aggressive marketing tools to attract people. In reality, the office doesn’t need spreads; the scammers make money from clients’ losses. Kitchen trade is always a conflict of interest.

    Expert opinion

    Eugene Rudenko

    The claim of British registration and financial regulation by the FCA turned out to be a lie. Fraudsters are guilty of falsifying documents. A review of the auditor’s registers confirmed that AlumFX – this is a banal money scam that does not deserve the attention of traders.

    Want to spread the word about your company or have you been in a negative review? Contact the portal editorial office right now

    Reviews about the broker AlumFX

    Customer reviews about the company AlumFX paint a rather alarming picture, pointing to serious problems in its work, which indicate the fraudulent origin of the project. Customers face various difficulties, ranging from hidden fees that were not agreed upon when entering into the contract, indicating a lack of transparency and possible misrepresentation on the part of the company. Problems with wide spreads and management of quotes by managers raise questions about the fairness of trading conditions and the ability of clients to make money despite their skills and strategies.

    Situations where the platform freezes at critical moments, especially when trying to close an order, leading to losses, highlight the technical unreliability of the service. Even more alarming are the descriptions of cases where clients are unable to withdraw their funds, experiencing delays in the cashout process or the complete disappearance of applications without any explanation. Lack of response from support and sudden closure of the site, leading to loss of access to funds, are clear signs of fraud, jeopardizing not only the financial well-being of customers, but also undermining trust in the online trading industry as a whole.

    These reviews reflect a general pattern of dissatisfaction and disappointment among customers AlumFX. No one has yet made money trading on the platform in question.

    The experience of practicing traders clearly shows why it is extremely dangerous to get involved with AlumFX review customer complaints are a clear demonstration of a guaranteed deposit loss.

    Conclusion

    A comprehensive review of the project confirmed that new and experienced traders should stay away from the broker AlumFX. The office simply prevents you from making money from trading. If you have lost your investment due to the fault of this company, be sure to contact our experts. Experts will help withdraw money from brokerage account in a completely legal way.

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    FAQ

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    How do customer reviews influence AlumFX on the company's rating?

    Customer reviews are one of the main criteria influencing the reputation and position of a broker in the ranking of reliable companies. You can view reviews about AlumFX on the main broker profile page.

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    How to write a review about cooperation with AlumFX Online Forex rating?

    You must register on the official Forex Rating website. This procedure is free and will take very little of your time. To confirm your registration, you will receive an email with a link where you will find detailed instructions on how to leave a review about the company AlumFX.

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