Alchemy Markets Review – Truth About This Broker

This company offers a variety of trading services under FCA regulations. A troubling part is that only one part of the holdings has a license and others don’t. The whole corporation is under Alchemy Prime Holdings, based in the UK.

Under this parent company, you have Alchemy Prime LTD ( UK ), Alchemy Global Limited ( that is Alchemy Markets )Seychelles, and Prime Intermarket Asia Pacific Limited ( Vanuatu ). 

Our detailed Alchemy Markets broker review should clarify the company’s operations and help you decide whether you want to invest with the firm. So, read carefully to find out if they are investment scams or not.

In addition, we recommend reading our reviews about scam brokers Leadtradesfx and Finance Proof.

Is Alchemy Markets a Reliable Company? Broker’s Regulation

Broker Alchemy Markets is owned by a group of companies, those being:

• Alchemy Prime Limited
• Alchemy Global Limited
• Prime Intermarket Group Asia Pacific Ltd
• Alchemy Markets DMCC

When it comes to Alchemy Markets’ regulation, it depends on the entity. Alchemy Prime Limited operates under the FCA umbrella, under the domain alchemyprime.uk, active since 2014.

Alchemy Global Limited is an entity established in Seychelles that is regulated by the FSA and they are running the domain alchemymarkets.com.

Further, Prime Intermarket Group Asia Pacific Ltd is established in Vanuatu, under the domain fxpig.com, under a VFSC license.

Finally, we found mention of Alchemy Markets DMCC under the number 95681, but the UAE register showed no results.

In conclusion, Alchemy Markets Forex brokerage provides its services to EEA zone residents using their offshore domain alchemymarkets.com under no supervision. This violates ESMA rules and goes against the good business practices a company should follow under the FCA regulation.

In July 2022 a CNMV ( Spain ) issued a warning against Alchemy Markets. Alchemy Markets Broker is an offshore company working under Alchemy Group.

Alchemy Markets directly doesn’t have any license so far. Their payment provider company named Alchemy Group is FCA-regulated and that’s a speculative part.

Overview of Alchemy Markets Trading Software

Alchemy Markets broker provides a wide spread of options for trading. Mostly trusted ones. Meta Trader 4/5 and Fix API are fast and trusted apps for trading.

The availability of different options is always good because it gives a wide range of possibilities and trading tools.

The company offers access to both MetaTrader4 and its successor, MetaTrder5. MetaTrader has been known as the industry standard for several good reasons. 

This platform provides customers with a high level of customization, many technical indicators, and access to advanced functionalities such as trading bots and social trading. 

Trading Account at  Alchemy Markets

Customers can choose from one of the three Alchemy Markets account types:

• Classic – $1,000
• Premier – $5,000
• VIP – $50,000

Besides the commission, we weren’t able to find other differences. Alchemy Markets Demo account is available for those who wish to test the system.

However, you should know that trading with virtual funds can never be the same. The adrenalin rush is not the same, not to mention trading conditions.

In some cases, brokers can manipulate Demo accounts to make it look like you’ve won significant amounts, making you comfortable investing more real funds.

Method of Deposit and Withdrawal

When it comes to the deposit methods, Alchemy Markets has stated they offer the following ones:

• Visa or Master credit or debit card
• Wire transfer 
• Skrill
• Neteller
• Crypto
• UnionPay 

Although that is a good array of funding methods, they are still an offshore company that doesn’t have an official license. Withdrawing money from them can be a hard thing to do, so we do advise you to avoid them. 

How Offshore Brokers Execute The Fraud? 

Trading scams basically have the same principle that is being performed through different sites and by different agents.

Nonetheless, the core remains the same. The broker first gets your personal information if you have left it on some sketchy sites and then the constant harassment starts. It is important to note that scams like this one can happen to anyone. The agents calling you are persuasive professionals who scam people for a living. Even if you say no, they will continue to call you until you agree to make an initial deposit.

The ultimate goal is to compel you to invest at least once, and after you may suspect they are no more than a scam the trap is fully shut and they will do anything to keep your money.  

Alchemy Markets Summary

Alchemy Markets is an offshore based broker targeting people all around the world. In terms of regulations, it is safe to say they do not follow any Tier1, so your funds will not be safe while working with them. This broker is trying so hard to pass as a good company and they are even claiming to be regulated by FCA, which of course is not the case.

We advise you once again to think twice before taking any risks while investing money and keep in mind that legit brokers will ask for as little as $10 in order for you to start trading. 

Doing proper research is a must if you are new to the world of trading as many phony brokers pop up overnight. Don’t get played by the fairytales they are going to tell you and be careful with your investments.   

FAQs About Alchemy Markets Broker