Alpha Trader appears to be either a scam or an extremely risky entity, one you should avoid like the plague. The company claims that its official website is alphatraderfirm.com, and that it is owned by a legal entity called Alpha Trader Firm LLC, allegedly registered in Wyoming, USA.
However, things start to look suspicious when you actually paste the domain alphatraderfirm.com into your browser. Instead of taking you to the claimed official site, it redirects you to an entirely different domain: alphafunded.com.
Curious about this redirect, I reached out to Alpha Trader Firm via their Live Chat and asked if they were affiliated with alphafunded.com. The representative flatly denied any connection, stating that Alpha Trader has no relationship whatsoever with alphafunded.com. They emphasized that the two are entirely separate entities and reiterated that all legitimate Alpha Trader services, including simulated trading evaluations, are only accessible through their official site, www.alphatraderfirm.com.
Yet, despite this insistence, the alphatraderfirm.com domain continues to redirect to alphafunded.com, which they claim to have no association with.
To dig deeper, I asked why messages sent through the Live Chat feature on alphafunded.com were being received by Alpha Trader. The representative responded with vague excuses, calling it a “technical error” and thanking me for raising the issue, an attempt to deflect rather than clarify.
Changing The Story
Later, I pressed them again, asking for a straightforward answer of either YES or NO if they are associated with, related to, or own alphafunded.com. This time, the representative changed their story, claiming that “some of their services” use the domain. I insisted on a clear YES or NO answer, but instead of responding, the representative abruptly ended the chat.
This evasiveness strongly suggests that Alpha Trader (alphatraderfirm.com) is a highly questionable platform, if not an outright scam. It also implies that the secondary domain, alphafunded.com, is likely under their control, despite their repeated denials.
Is Alpha Trader Formerly Alpha Trades?
To add to the concern, it’s worth noting that a similarly named domain, Alpha Trades (www.fx-alphatrades.com), was blacklisted by the UK’s Financial Conduct Authority (FCA) back in 2022.
What Alpha Trader Claims To Be
Alpha Trader presents itself as a platform designed to offer simulated trading environments, emphasizing that its services are strictly for educational and assessment purposes.
Importantly, Alpha Trader asserts that it is neither a traditional trading platform nor a prop trading firm. It maintains that it does not engage in real trading, offer investment products, or provide financial services. Instead, all trading activities are said to take place in demo environments using virtual funds, meaning no live trades or actual investments are involved.
Despite this lack of real trading, the platform claims to issue real payouts to traders who successfully complete its trading skills evaluation and assessment programs. When I reached out to customer support, I was told that these payouts are made via bank transfers or cryptocurrency. However, upon reviewing the company’s official website myself, I noticed a discrepancy: the site indicates that payouts are issued only through cryptocurrency and one other method that does not include bank transfers.
Finally, Alpha Trader states that its primary source of revenue comes from the evaluation fees paid by traders who wish to participate in its assessment programs.
Alpha Trader’s Supposed Trading Skills Evaluation and Assessment Program Types
- 1-Step Program – One challenge with an 8% profit target. Fees: $249 (25k), $349 (50k), $549 (100k), $899 (200k).
- 2-Step Program – A two-stage evaluation program with 10% and 5% profit targets. Fees: $249 (25k), $299 (50k), $499 (100k), $899 (200k).
- 2-Step PRO Program – Another two stage evaluation program with 8% and 4% profit targets, including news and weekend trading. Fees: $399 (25k), $499 (50k), $699 (100k), $999 (200k).
- PayWhenYouPass – $100k account with a 5% target. Fees: $149 plus a $349 activation fee after passing.
Please note that the amounts shown in the respective programs, such as $25k, $50k, $100k, and $200k, are claimed to represent simulated trading account sizes. These figures are said to reflect virtual balances used within simulated trading environments, not actual funding.
According to the company, the evaluation programs are not free. The stated fees, ranging from $249 to $899, are said to be required in order to access these programs. Again, this is based solely on the company’s own representations.
If a participant successfully completes and passes one of these evaluation and assessment programs, the company claims it may offer discretionary financial rewards. These payouts are allegedly drawn from internal company revenue, not from any real trading profits.
Additionally, the company asserts that all challenge fees are refundable after the first payout. This, too, is based entirely on their own statements and has not been independently verified.
Alpha Trader’s Purported Tradeable Assets
- Commodities
- Crypto
- Indices
- Forex
Further, Alpha Trader claims to be available for all countries except the following:
- Japan
- Russia
- Afghanistan
- Botswana
- Myanmar
- Congo
- Cuba
- Ethiopia
- Iran
- Iraq
- Kenya
- Lebanon
- Libya
- North Korea
- Pakistan
- Somalia
- Sri Lanka
- Sudan
- Syria
- Trinidad & Tobago
- Tunisia
- Vietnam
- Yemen
- Zimbabwe
Alpha Trader and Tradelocker
On the topic of trading platforms, Alpha Trader claims that TradeLocker is their current platform provider, replacing MT4 and MT5. While I confirmed it on TradeLocker, the integration with this trading terminal does not automatically mean a trading platform is entirely safe.
As much as Tradelocker itself is generally authentic, platform safety depends on many other factors, such as user fund protection policy, regulatory compliance, and transparency.
Final Thoughts
In summary, evidence gathered from direct communication with Alpha Trader’s official support suggests that this platform is either highly risky or outright fraudulent.
First, it is neither registered nor regulated by any financial authority, yet it collects money from individuals under the guise of trading skills evaluation and assessment programs.
Secondly, the company was vague and evasive when I questioned them about a secondary domain, repeatedly denying any connection despite clear evidence to the contrary.
Traders are strongly advised to avoid both the platform and its associated secondary domain entirely.
Alpha Trader FAQ
1. Does Alpha Trader truly issue refund fees?
Answer: While the company claims that challenge fees are refundable after the first payout, there is currently no verified user testimonial confirming refunds.
2. Does the company offer payouts through bank transfers as well?
Answer: No. While AT claims to do so, my investigation uncovered that it pays only through crypto and Rise.
3.What is the support contact for Alpha Trader?
Answer: Support@TheAlphaTraderFirm.com
4. Is Alpha Trader a prop firm?
Answer: Not exactly. The fake Alpha Trader prop firm vibes floating around out there shouldn’t mislead you into thinking that it’s a genuine proprietary trading firm. It might look like one on the surface, but the reality is quite different.
Read this article on prop firm scams and the top 6 worst schemes.
5. How do I report this platform?
Answer: If you lost your money, go to this page to file a complaint.