Alchemy Markets Review – Scam or Good Forex Broker?
Broker status
|
Regulated Scam Broker |
Regulated by
|
Unlicensed Forex Provider |
Scammers Websites
|
alchemymarkets.com / alchemyprime.uk / fxpig.com |
Blacklisted as a Scam by
|
N/A |
Owned by
|
Alchemy Prime Limited |
Headquarters Country
|
UK / Vanuatu |
Foundation year
|
2014 |
Supported Platforms
|
MT4, MT5, Fix API |
Minimum Deposit
|
$1000 |
Cryptocurrencies
|
Forex, commodities, indices, shares, cryptocurrencies, ETFs |
Types of Assets
|
BTC, ETH, XRP |
Maximum Leverage
|
1:500 |
Free Demo Account
|
Yes |
Are Alchemy Markets Legit Forex and Crypto Providers?
Broker Alchemy Markets is owned and operated by a number of companies.
- Alchemy Prime Limited
- Alchemy Global Limited
- Prime Intermarket Group Asia Pacific Ltd
- Alchemy Markets DMCC
It all depends on the entity when it comes to regulation of Alchemy Markets.
Alchemy Prime Limited is a FCA-affiliated company, operating under the domain alchemyprime.uk since 2014.
Alchemy Global Limited, an entity based in Seychelles without any regulations, runs the domain alchemymarkets.com.
Prime Intermarket Group Asia Pacific Ltd was also established in Vanuatu under the domain fxpig.com and a VFSC licence.
We found mention of Alchemy Markets DMCC under number 95681, but no results from the UAE register.
Alchemy Markets Forex brokerage offers its services to EEA residents by using their offshore domain alchemymarkets.com without supervision. This is a violation of ESMA rules, and it goes against the FCA regulations for good business practices.
Warnings against Alchemy Markets Broker
There were numerous complaints about the brokerage’s use of multiple entities to run its business, some offshore. EEA residents do not have the right to compensation funds or financial assistance for dealings with offshore firms.
This led to several regulatory bans. The first was issued by the Spanish CNMV. Alchemy Markets operated by Alchemy Global Ltd provides unlicensed financial services, according to the warning.
Are Alchemy Markets Brokers Active?
According to Alchemy Markets reviews the firm operates mainly in:
- UK
- US
- Spain
- Italy
- Australia
All entities, other than the UK, are part of an offshore zone. They are not subject to any regulatory regimes.
Are Alchemy Markets Demo Accounts Available?
For those who want to try the Alchemy Markets Demo Account, it is available. Trading with virtual funds is not the same as trading with real money. The adrenalin rush and trading conditions are not the same.
Brokers can manipulate Demo accounts in certain cases to create the appearance that you have won substantial amounts. This makes it easier for you to invest more real money.
Chargeback Is Your Solution!
A chargeback is the retroactive cancellation and refund of a charge made using your credit card, wire transfer or some other payment methods.
By putting together a compelling chargeback strategy from beginning to end, victims of online fraud have a relatively high probability of recovering some of all of their funds lost.
However, using a trustworthy service such as MyChargeBack is critical in this endeavour as a typical chargeback process can often be complex and drawn out without the right guidance.
Request a free consultation today by clicking the button below!
What is a chargeback?
Chargebacks are a way for your bank to recover funds from the merchant. We recommend that you contact us immediately to begin the process. We will have a free consultation to discuss how we can recover your money right away!
Alchemy Markets: Video
Below you will find a short video about Alchemy Markets. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Alchemy Markets!
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Copywriter with more than 10 years of experience. Wrote analytical content for one of the largest forex brokers in the world. Works as an editor-in-chief at assistance-refund.com
FacebookFAQ
- What Trading Platforms Are Available?
Alchemy Markets’ trading platform choice is quite broad as it suits one regulated brokerage. Customers can choose between industry standards, MT4 and MT5, as well as Fix API
- Is Alchemy Markets a Legit Broker and Should I Invest In It?
Alchemy Markets is an FCA-regulated entity. However, it also operates two offshore brands. One of these brands is unsupervised. Contact us if you are involved in the scheme and cannot withdraw funds.
- Does Alchemy Markets Offer a Demo Account?
Yes, Alchemy Markets offers a Demo account for their users to test the system.
- What Is Alchemy Markets Minimum Deposit?
Alchemy Markets requires its customers to deposit a high amount, $1,000.
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