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Alive Markets Review - is it scam or safe?

Alive Markets Review - is alivemarkets.com scam or good forex broker?

RATING: 1.5 / 0 REVIEWS Alive Markets
Alive Markets is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage Spread
Micro  $100 1:400

1.1 pips

Mini $1 000 1:500 N/A
Prime  $5 000 1:500 N/A
Luxury  $25 000 1:500 N/A
Islamic  $20 000 1:500 N/A

 

Alive Markets is a MetaTrader4 forex broker that offers five account types. The broker operates as an authorized representative of a company duly licensed to provide financial services in South Africa. Here are our impressions of this broker, after we made a thorough research on the company and tested its platform. Make sure you read it prior to investing with Alive Markets.

 

 

Alive Markets Advantages

 

Registered as AR by South Africa’s FSCA

Alive Markets is allegedly a trademark of GCMT SOUTH AFRICA (PTY) LTD., which is registered as an authorized representative of Blackstone Futures. The latter is licensed by South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA), and also operates the CMTrading brokerage brand.

 

 

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As a successor of the Financial Services Board (FSB), the FSCA is responsible for the licensing of financial service providers, and for ensuring that regulated entities comply with the relevant legislation. It also keeps a public register of regulated entities, as well as their authorized representatives, so that investors can look up whether a certain broker is authorized to provide financial services in South Africa.

 

MT4 available, attractive demo spreads

The presence of the MetaTrader4 (MT4) is always good news. The platform provides a full spectrum of trading tools and resources:  a number of built-in technical indicators, advanced charting package, wide range of Expert Advisers (EAs) and extensive back-testing environment. By using EAs traders may sit back, while the software does all the work, as these robots allow full automatization of trades.

 

 

>> Choose some of the best MT4 brokers <<

 

 

Furthermore, when we tested Alive Markets’ MT4 in demo mode, we saw the benchmark EUR/USd spread floating around 1.1 pips (no commission applicable), which is a really good pricing.

 


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High leverage levels

Clients of Alive Markets may use high leverage ratios up to 1:500, and demo account holders are even offered 1:1000. Leverage ratios that high will suit any trading strategy, that’s why we consider it an advantage.

 

Keep in mind that some jurisdictions cap leverage to significantly lower ratios than this (i.e. 1:30 in the EU, 1:50 in the US), because higher leverage involves greater risk of losses in excess of initial investments.

 

 

Alive Markets Disadvantages

 

Light regulation or a possible clone firm

 

 As we mentioned, this broker claims to be operated by a firm regaulated in South Africa.

   

 

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Generally speaking, regulation in South Africa is not among the strictest and most reputable ones. Furthermore, Alive Markets doesn’t have a license of its own, but acts as an authorized representative of a firm authorized by the South Africa’s Financial Sector Conduct Authority (FSCA). 

 

 

Besides, the broker’s website mentions that the company has offices in Belize and the US, which inclines us to suspect that Alive Markets is also registered offshore. Because of all the risks involved in trading with offshore brokers, we advise our readers to avoid them as a general rule. Besides, It is always best to trade with the company holding a license, and not with its representatives.

 

Another possible explanation of the fact that Alive Markets does't seem to have a local presence in the country where it is allegedly licensed is that it might be a clone firm. This is a popular tactic among fraudsters - using the details of a regulated firm with which they are not associated in any way. 

 

MT4 provided by a third party

When we downloaded Alive Markets’s to try it out, we saw that it is provided by a third party – the offshore forex brokerage ProFX Market. While this is not that unusual, it is still preferable that the company provides a platform of its own, or uses trading software from a reliable and licensed company.

 

Spreads not announced on website

Alive Markets has not announced any reference spreads, which is not a major flaw, as the broker offers free demo accounts and everyone can test its services for free. Yet, all decent brokers indicate their spreads on their websites as a part of their transparent pricing policy.

 

 

Conclusion

 

Overall, Alive Markets has left us with mixed feelings. On the one hand, it holds some sort of a license, supports the industry leading MT4 and appears to offer attractive trading conditions.

 

On the other hand, the broker doesn’t hold a license of its own, and it could be another clone firm. besides, its MT4 is provided by a third party, and the spreads are not announced on its website.

 

Do have in mind that the most reliable South African forex brokers are not only authorized by the FSCA, but also have licenses with other, more trustworthy financial governmental agencies such as UK’s FCA or Cyprus’s CySEC.

 

 

>> Top brokers legally operating in South Africa <<

 

 

And finally, here are the highlights of the present review of Alive Markets:

 

Pros Cons
Licensed as an AR in South Africa Lighter regulation
MT4 available, attractive demo spreads Related to a dubious brokerage
High leverage levels Spreads not announced on website

 

 

 

Latest news about Alive Markets
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Traders` reviews for Alive Markets

Spread

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Price feed

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Platform

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Deposit/Withdraw

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