Read our Alpha Bull Markets review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an alphabullmarkets.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Alpha Bull Markets is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Alpha Bull Markets in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Alpha Bull Markets Review Conclusions
Making the Alpha Bull Markets review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Alpha Bull Markets review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Horrible decision by investing in this platform. I was promised immediate withdrawals from IB Advisor but nothing of that sort happened. Had my funds and trading profits stuck for more than a month, and after sending a mail literally everyday, they transferred only my initial deposit back, not profits. Very bad experience. Highly suggest to invest in platforms that have good reviews and are backed/regulated by either local government or a trustworthy financial services regulation body.
Lost all my money on this company. They keep putting higher lots to risk our money. This is so bad. The money all going to their account. All the lots they are suggesting to us and we have to keep it. They show profits and make us comfortable and at last, we lose everything. The only thing which I cannot understand is that they are doing it all on the Metatrader 5 Live account. Is it possible to start a dummy account on such a live account?
Thank you for this article. I read it too late.
I invested around $18,000 and they made good profit at the beginning.
then suddenly, they reduced the leverage and increased the spread (4 times) to cause me lose all the open trades. I lost around $15,000 over the night.
now they are refusing to refund the cash unless I cancel the bonus given. I requested to cancel and they are not processing my request.
I believe will follow the method mentioned in this article and see what will happen.
I read your article too late, but i will share it with everyone
i have invested USD 5000 with them where my profit reached plus 1300USD in one week, later on i asked to withdraw 5000 USD where the agent call me and asked me to wait until i close my position and convince me to open a new trade for buy and sell oil and since im not an expert i lost all my money with them in this deal and i now im in MINUS.
when i asked an expert people of that deal they have told me that the agent made this deal to make you loose your money and to force you invest more by increasing your free Margin. so at the end it was a game to take my money as i have request a withdrawal.
They are calling people in UAE from local phones convince them to invest and claim that they are regulated.
i lost USD 5000 Which are equal to 2 months Salary.
All people in UAE should know about this Fraudulent company.
Thanks for sharing this information. But would like to know, is there any remedy?
Is it possible to file complaint to police for fraud and scam. Or file complaint in DIFC?
Anybody aware of the process/ procedure to take action on this scam?
Is is worth filing complaints? Will it really useful to take action against such companies? Are they doing all these within legitimate rules?
Please advice.
Regards,
Tushar
In my case since the funds was done through wire transfer through Central bank system, I have lodge a complaint to Central bank against them and the beneficiary account as they are not even the beneficiary, they are so clever as the funds reached am account with a free zone company.
I encourage all of you to lodge a complain to Central bank through your bank In case your payment done through wire transfer or directly in UAE Central bank website.
Dammm! Too late ! I paid around 24K usd to these guys !
What all options available ? Complain with the bank ? And also to the central bank ?
Thanks Dani Elias for sharing such valuable information on this fraud company.
I need to ask you and others whether can we Lodge a complaint in local police. Will they entertain us?
Do we have a valid and solid ground to take action against them? I sometimes feel, the police may blame us on why we haven’t check the authenticity of beneficiary or verified the details, before we start investing with them.
Do your suggestion of lodging a complaint with central bank will have any benefits? If they ( fraud company) found the account/s are blocked by Authority, they may open an another account and trap many others innocent investors.
Please advise the other suggestion to take action.
Regards,
Tushar
Dear PPR have you done this transaction recently?
If money still in account, close the active trade and request for withdrawal. And if not accepted by them, then you can look for further action.
Who is your RM? Is it Akshay?
Please all of you share your RM name.
Regards,
Tushar
Shubam/Sahil
Mine is full negative now, lost $15000 in 2 seconds ! I’m sure they did something in the backend !
Dear PPR,
Your lose is very huge.
Is this happened in market crash in past 2 days? Did he advised you to put buy trade for gold deal when it was already very high. And then market crashed.
Since they have all the tips that market is going to be down, but they deliberately, misleading there investors to call for reverse trade which make them lose all their investment.
Since your lose is ver high.Now what are you planning to do? Are you serious to take any action. I am looking for some way out to take action on them and recover the fund. But I don’t have any clue how we can deal with situation. If all of us here take this matter seriously and if we all can co-ordinate with each other to find the way out, we can look forward to recover our fund.
@PPR
what they did is simple. they change the spread and leverage while the trades are open. then your trades will be closed with big loss.
I don’t really understand why they do this and what they gain if you lose your money.
But if you don’t have any open trades, you can request a withdrawal and you will get the remaining amount. I did the same and got the remaining money back.
Mine too is Shubham. He is a complete fraud.
I have found something here – https://www.youtube.com/watch?v=Rkq9qb7eSDw
Not so sure if they are doing it the same way. As far as I understood, no money is going to the forex. The thing is we have no proof to show that they are illegit.
I have emailed SCA and the police. Nobody replied. Seems that we have to go directly there.
I am going for filing a complaint. But they will not take this into consideration if it is only me. If you are with me, please consider below. Go there directly. Don’t just email and wait for reply. It does not work.
Please file the case to
1) Securities and Commodities Authority – https://www.sca.gov.ae/en/home.aspx
2) Dubai Financial Services Authority – https://www.dfsa.ae/your-resources/consumer/complaints
3) Police – https://www.dubaipolice.gov.ae/wps/portal/home
We have to be quick as they will vanish soon once they have enough money. They might be having a target. Also, the RM name which I mentioned might not be there at all. He might be using a fake name.
There is a sales team for them which is another company name – Exponential Growth. They don’t even have a website. Their location is here as I got from one of the guys there who by mistake gave me – 1707, Lake Central, Business Bay, UAE.
Let’s see if we are lucky enough we will get the amount back. One lesson I learned: Never be greedy and never run behind money. Be steady in your life and don’t follow behind a millionaire magic wand.
Hi all,
Just to update you with my situation which might be useful to others.
– I sent them a request to cancel the bonus added to my account.
– I closed all open trades (winning or losing) it cost me around $15000 loss. but overall loss from the first amount deposited was $8000.
– I requested full withdrawal of the remaining amount in my account.
after all the above, they transferred the remaining amount to my account.
the key here, DO NOT OPEN ANY OTHER TRADE. if you have any open trade, you cannot withdraw your money.
Hope you can save whatever remaining money for you and invest elsewhere.
Hi Husam,
It is possible in your case only as there was still a balance. What they do is making us go towards a negative point. By the time we know that this is a scam, we will be at loss and cannot retrieve any money.
As I told, no money is going to the Forex as per my research. It is all going to them. Otherwise why they make us lose the trade if it’s on a commission basis. This is not how stock marketing works. Usually, the Stock Market Experts keep Stop Loss and they take real care about the account not to lose more. Here there is no limit to loss.
Its possible in Metatrader 5 server by adding a hack to just put any amount even millions and show a dumb trade like shown here – https://www.youtube.com/watch?v=Rkq9qb7eSDw
They can give a credit of millions to you. We all will believe it is really happening. But it’s not.
@Husam Hussein
I am struggling to withdraw my remaining money from them. Long way back i placed a request but they are not responding neither RM. I don’t understand with the bonus you mentioned. I am in continuous follow up with RM but no response. I have not opened any trades after i placed withdrawal request. could you please help me if you any measn of communication with them email, calls etc.
[email protected]
thanks
Sujith
Very big Scammers
@ Alan Walker
I have done some research. We do not have much option to get our money back.
You have not share your RM name. The office address will not be beneficial.
Now I have observed that they have opened a new account with Mashreq bank. So that mean they are very clever and 2 steps ahead of everyone.
But it’s pity that such scamster can not be penalized.But it is important that we should create awareness amongst people so that other innocent people will not be trapped by them.
Tushar
Hello Tushar,
I have mentioned it already but it is not approved yet by the moderator from Personal Reviews. There were links in that message. The link I shared shows how anyone can put millions in the application and but nothing happens. It does not go from their account. It is just numbers running through.
RM’s name is Shubham same as the guy PPR here in the comments.
Thanks Alan for sharing such a vital information.
I am also planning to lodge a complaint. From your response, I understand that you have already attempted to lodge a complaint. But the Authorities did not entertain you, unless you have more victims with are ready to file complaints.
Please advise how to go about it. Let us approach police together.
I urge others in this list too , who are willing to join, please let us take initiative and contact authorities.
Awaiting response from Alan and others.
Tushar.
@Tushar,
@Alan,
@Sujith,
I’m ready to join you if planning to open a case against them. I have screenshots clearly showing that they changed the spread amount to cause losses for an open trade.
Maybe it’s better to deal with it legally by deploying a lawyer.
you can contact me on my personal phone or email:
Husam
0565154783
[email protected]
Is this safe?
Worst and crap brokers!! Specially a guy call suvam!! He is a scam! He always ask u to hedge.. dont go woth this brokers.. they will take ur hard earning money..
I lose my 25k dollar in 4 months. Never ever got chance to withdraw. My broker suvam always ask me to hedge the position. He never ask me to have SL or TP. He always ask me to deposit more money but never ask me to withdraw. I was told that i will get a proper training from the broker but he never teached me anything. He is a thr worst broker i have ever encountered. He is rude!he is not helping!! Alphabull is a worst company to do trading i will not recommend anyone to do trading with your company.
Worst & bunch of cheaters..UAE Government should take action against these rogues
Gents,
My account is now showing disabled ,
Is there any email contact to request to activate it ?
Do you guys faced similar status before ?
Appreciate your comments
Thanks / Juvaiz
It is 2024 and they are still at it. I deposited money with them and they won’t give it back unless I deposit more!