Alterspots Review – Fictive Platform, Fake Signals, and Much More

Alterspots brokerage ostensibly claims to operate within the legal framework of the United Kingdom, according to their Terms and Conditions. However, crucial details about ownership and address are conspicuously absent, serving as a swift caution against placing trust in this company.

Despite this, Alterspots manages to ensnare some inexperienced traders, exploiting their lack of knowledge. Our comprehensive Alterspots review brings to light the inherent risks and flaws associated with this company.

Legal Information: Legitimacy or Scam?
With undisclosed headquarters and legal identities, verifying their registration becomes a challenge. Legitimate brokerage firms typically possess Tier 1 licenses such as FCA, ASIC, or BaFin, providing traders with a sense of security. However, an exhaustive search across Tier 1 regulatory databases yields no positive results. Instead, Alterspots appears on a warning list exposed by the Canadian Manitoba Securities Commission and reposted by the CSA in Canada.

Identifying Alterspots’s Targets:
This company, registered in August 2023 according to who.is, primarily targets traders in Canada, Italy, and the United States. Fortunately, these countries are subject to strict regulations, suggesting that Alterspots’s operations may not endure. However, community involvement is crucial, and individuals are encouraged to share their experiences in the comments or seek refund assistance.

Traders’ Reviews:
Alterspots reviews, though limited, shed light on the company’s manipulative practices. Operating through dubious auto-trading software campaigns like Quantum AI, they entice clients with fictive profits. Subsequently, boiler room agents coerce additional deposits, complicating withdrawals when traders seek to cash in on purportedly exorbitant profits.

Financial Considerations:
Alterspots’s trading conditions remain unclear, with the only known cost being a 6% commission. Other fees, spreads, and overnight swaps are undisclosed, adding to the ambiguity. The unknown leverage, despite the claim of offering negative balance protection, requires a deposit exceeding $50,000.

Bonuses and Features:
While the company doesn’t transparently disclose bonus offers, their Terms and Conditions indicate that bonuses are subject to specific terms. Traders should remain vigilant about bonus policies, often laden with conditions requiring substantial turnovers for withdrawals. Alterspots offers no advanced trading features, and without regulations, the legitimacy of trading signals and educational courses is questionable.

Trading Platform and Assets:
Alterspots provides only web-based platform access across all accounts, deviating from reliable platforms like cTrader or MetaTrader. The tradeable instruments may seem attractive, but the lack of regulations raises doubts about the accuracy of asset details and prices.

Account Types and Mobile Access:
While most services in the account types appear fictive, Alterspots accepts deposits above $250, with escalating account types requiring higher amounts. The absence of mobile apps is a significant drawback, forcing traders to access their accounts via browsers.

Demo Account, Education, and Withdrawal:
The absence of a demo account coupled with limited educational resources, comprising only video materials and glossaries, diminishes the value of Alterspots’s offerings. Withdrawal instructions are notably absent, contributing to concerns about transparency and potential manipulation.

Customer Support:
Alterspots’s customer service is limited to email communication, leaving traders dependent on hope for a response, especially when seeking withdrawals.

Key Takeaways:
A recently registered investment firm without regulations, opaque conditions, unknown ownership, and negative reviews signal red flags. Trusting Alterspots is discouraged, and individuals are urged to contact us promptly. Our refund team can provide step-by-step guidance through the refund procedure, starting with a free initial consultation.