Hi, I understand that Alfa Financial is regulated in UAE, should I be concerned about potential scam problem if I residing outside of UAE?

https://www.alfafinancials.co.za/ 

Alfa Financials is not regulated by any financial authorities and should be avoided at all events. 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 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 are unsafe and cannot be protected by any laws. Therefore, it is a scam.

We would recommend you to stay away from Alfa Financials and any other unregulated brokers, since they are not subject to necessary laws and principles of operation, resulting in a high risk to trade with them.