ALB Prime Overview
ALB Prime is a forex broker that was registered and established on May 19, 2023, in Saint Lucia. The company is headquartered in Istanbul, Turkey. The corporate entity registered in Saint Lucia is known as ALB Prime LTD, with its registered address at 1st Floor, The Sotheby Building, Rodney Bay, Gros-Islet Saint Lucia. The enterprise registration number is 2023-00177.
Domain Registration of ALB Prime
Information obtained from a Whois query indicates that the broker's official website domain was registered on September 28, 2017, and has been in existence for six years as of now.
Is ALB Prime legit or a scam? Does ALB Prime have any regulatory licenses?
ALB Prime LTD lacks authorization and effective regulation from any financial regulatory body in any jurisdiction. Furthermore, a search revealed the existence of a company with the same name in the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA).
On the broker's official website, it is stated, "The currency forex trading platform is provided online by albprime.com. All trading-related information on the albprime website is provided by ALB Group Holding. ALB Prime LTD is a registered brand of ALB Group Holding." Traderknows only found one entity registered in the UK with the name "ALB GROUP HOLDINGS LTD," closely resembling ALB Group Holding, but the relationship between the two cannot be confirmed. Additionally, the logo on ALB Prime's official website is identical to the logo on alb.com. Therefore, the authenticity of the information provided by ALB Prime raises doubts.
Employees of ALB Prime
ALB Prime has disclosed information about only one member of its corporate staff.
Trading Software Provided by ALB Prime
The official website of the broker offers a download link for the MT4 trading software, available for both desktop and mobile platforms.
Reputation and Client Complaints
A user from Indonesia, with a service duration of 0-3 months with ALB Prime, has given a negative review, describing being directed to ALBPrime.com after registering on ALB.com. The user claims that, after successfully depositing funds and making profits, his attempt to withdraw was met with a loss of communication with the company. The user strongly advises other investors to avoid this broker.
User "Franca" from Turin, Italy, although not having used ALB Prime's services, perceives the practices of ALB Prime as unethical. He shared his experience of attempting to open an account but being denied, speculating that it might be because he is a profitable trader, and ALB Prime may not favor profitable traders.
ALB Prime lacks the necessary regulatory licenses, which serves as a warning signal. The broker is suspected of engaging in unauthorized operations, posing potential risks to clients' funds. It is advised that investors steer clear of unregulated investment platforms, as these platforms may shut down at any time and lack transparency and trustworthiness.
Trading Products Provided by ALB Prime
ALB Prime primarily offers investors trading services for a variety of financial assets, including forex, commodities, precious metals, energy, indices, bonds, stocks, and cryptocurrencies. The broker provides users with both demo and live trading accounts, with a minimum deposit of $100 and a minimum trade volume of 0.01 lots. For professional clients, the maximum trading leverage is 1:200, while for retail clients, it is capped at 1:30. There are no trading commissions for forex, commodities, energy, indices, stocks, and precious metals. However, cryptocurrency trading incurs a 0.4% transaction commission.
Contact Information
Investors can contact ALB Prime through various methods such as: phone, email and online service.
Conclusion
ALB Prime is a forex broker with opaque entity registration information and lacks valid regulation. The broker has not disclosed any critical information regarding user fund security. Currently, this broker is listed as "Suspected Fraud" on Traderknows. We hereby advises that ALB Prime is a highly risky forex broker, and it is recommended to steer clear of this platform to avoid potential financial losses.
