Alvexo Reviews

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Alvexo Forex broker reviews

  • Website:
  • Year since: 2014
  • Headquarters: Limassol, Cyprus
  • Company registration: VPR Safe Financial Group Limited (reg.#HE 322134), Cyprus
  • Regulation: CySEC license 236/14

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4 Reviews

Dear Mrs. Basavaraj,

After carefully reviewing your comment within this website and commencing a thorough investigation of the said case please see the Company’s findings below;
Alex Petrou, your Senior Account Executive, had first contacted you on the 14th of January 2016 in order to introduce himself. He then continued to assist you in downloading all necessary programs/features, and explaining the platform and key terms such as Margin and Margin Requirements, showing you how to use the indicators (such as the RSI) after which you then proceeded to open trades from your side based on the knowledge received.

During the following phone call, made on January 22nd 2016, you and Alex had another trading lesson and you proceeded to close your still open positions in a $133 profit. You then solely proceeded to open further trades after the discussion was over.

Alex tried to contact you on January 28th, to which you didn’t respond, followed by an email to contact him to schedule an additional appointment.

On January 29th, Alex tried to contact you again after noticing that your account was on a Margin Call, with no respond. He followed by sending you an email stating that he tried to contact you and that your account was on a Margin Call and for you to contact him. You had responded the same day via email asking for Alex to call you the following day but as this was a Friday, and as you are aware that the markets are closed on a Saturday and Sunday, Alex then proceeded to contact you on Monday February 1st. Again, you had not responded to his call so he had sent you another email stating that he tried contacting you asking to respond with a suitable time for an appointment to discuss your trading progress.

On February 3rd, Alex had tried to contact you again and you had stated to him that you were busy and for him to call you the following day. You had then proceeded to send him an email the following day, shortly prior to your appointment, requesting to reschedule the appointment for the next day, the 5th of February.
Alex proceeded to call you, at the time scheduled, on February 5th to which you had not responded.

On February 8th, Alex tried to contact you again, to which you had not responded, so another email had been sent from his side for you to provide him with a suitable time for an appointment to discuss your trading progress.

On February 9th, you sent an email to Alex apologizing for missing the calls and stating that you had been busy. You both then followed to schedule an appointment for the same day. Alex called you at the scheduled time with no response again.

Alex Petrou contacted you again on the 11th of February 2016 to which you had not responded so sent you an additional email requesting to schedule an appointment.
On the February 18th, you sent Alex an email requesting that he contact you. Once he did, you became verbally abusive on the telephone, and did not allow Alex to respond nor discuss your trading account.

He then proceeded to contact you again on the 19th of February, you did not respond, so Alex sent you an additional email.
On April 18th, you called the Company requesting to speak to Alex Petrou. He began trying to explain to you once again the margin requirements and the reason why your account had reached a stop-out but you continued with highly abusive language stating that “It does not make sense to open $5 and $10 trades and my account going into negative balance”. At that point Alex repeatedly tried to explain margin requirements and why your account had reached this situation since you had opened positions and left them open unattended until they had reached a stop-out a week later on 29th of January 2016. Despite Alex’s efforts to contact you and assist you with your trades, prior to your account reaching a stop-out, you omitted to answer either phone calls or emails until after your account had reached stop-out. It took a further 6 weeks and 8 attempted phone calls and emails to try to succeed in getting hold of you.

Again, we would like to stress that customer satisfaction is as of high importance for Alvexo and as such we strive to accommodate every reasonable requirement made by our customers, that said, It does require cooperation from the customer’s end.

For any further clarifications, we remain at your disposal,

The Alvexo Compliance Team

An outright scammer! ….made 6 $5 trades and 1 $10 trade, initial deposit of $500 went into negative balance of -$194. The broker Alex that was “helping” me only was able to get me on the phone for a one 40mins lesson on using MT4 and told me to take care of my margin and said it was “absolutely fine” for now. The four trades made when I spoke to him made small profits and then he gave me another call a week later to make more trades “for practice”, two days later he calls me out of the blue and then leaves me an email to say that my margin is too low and that I should invest more money and they would add a 30% bonus. Next time I looked at the MT4 (because I missed the emergency call) my 2nd set of trades were at a “stop out” and had incurred huge losses. The adding up of the negative balance for each trade doesn’t even amount -$194 even when you add the initial deposit of $500 and the small profits the first 4 trades made. They harrang you until you make a huge deposit of $500 dollars initially that even competitve forex brokers do not demand. They make fake promises of being excellent teachers and promising a “first class” education for “investing”. Even if I had time constraints the lessons provided by the brokers are lacking in ingenuity and apparently according to customer services the trades should not be left open for more than a week. I even tried to retract my deposit because I could not trust them before I started trading but they were extremely polite and understanding of my situation. Within two weeks of starting to trade $500 was lost and now the account is in negative balance. The most ridiculous thing is that Alex said that the trades I made myself when he called me up to tell me to “practice” were the ones that made huge losses within 2-3 days of the trades being made. I had to avoid calls by Alex to “set the situation right” by asking me to invest more money. (Shocking that they claim themselves to be “regulated” – please bear in mind that I didn’t just lose the money due to bad trades that were made!). When I called them a couple of months later the customer service probably compliance – Rachael (Who was so understanding before I started the trades while registering the account) said that the trade that had made the biggest loss was a rupees (because she knew I was of Indian descent) while in fact the currency was RUB – russian rubles. Alex then contacted me and proceeded to insult me that I was not orignially from Ireland because I had poor english (He just knows that because my name is not Irish), while he himself cannot seem to communicate everything or does not want to clearly communicate it. He also said that I lost my money only to banks and the market and that they were just middlemen that work “without earning any profits/commission”. One of their famous quote/tip when you open an account with them says the following: “Margin Call or Stop-Out (closing automatically by the system) occurs when the Equity is lower from 25% (or other percent as determined by the Broker) of the Margin”, which means that pulling the plug for my margin and causing a stop out on my trades was in the hands of my “broker” Alex. Do not trust their services or false promises as they are a huge scam!