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Alfa Financials

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Operating status: SCAM

Website: https://www.alfafinancials.co.za/

Broker violations and abnormal records
  • 2021-07-06 BrokersView has reviewed that Alfa Financials is an unregulated forex broker
    Alfa Financials claims to be the trading name of Ala Financials (PTY) LTD which is regulated by the South African Financial Services Board (FSB License No. 45695). But the regulator that approves licenses for the brokers in South Africa is the Financial Services Conduct Authority (FSCA) rather than FSB. We checked on FSCA and found the company is in its register. However, the regulatory status is abnormal and the official regulatory status is lapsed. So Alfa Financials is not regulated or overseen by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    Alfa Financials claims to be the trading name of Ala Financials (PTY) LTD which is regulated by the South African Financial Services Board (FSB License No. 45695). But the regulator that approves licenses for the brokers in South Africa is the Financial Services Conduct Authority (FSCA) rather than FSB. We checked on FSCA and found the company is in its register. However, the regulatory status is abnormal and the official regulatory status is lapsed. So Alfa Financials is not regulated or overseen by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.