Alvexo – Is it scam or safe?

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Alvexo is the trading name of the Cypriot company VPR Safe Financial Group Limited that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). The CySEC license allows it to offer financial services, including forex.

However, there are some posts that inform about poor practices when the company takes commissions, executes orders and supports its customers. Customers reviews also show difficulties in withdrawing money.

So far, we haven’t received any complaints from clients of Alvexo.

If you feel frustrated by Alvexo and have something to share with us, please fill in the form below, describing your case:

8 Complains

  1. I received a lot of disappointment with Alvexo. I lost USD12,000 while I had a fully hedged account and all positions were closed without any notice or warning. I didn’t receive an official email from Alvexo, which is a margin call. They didn’t support me properly. Stay away!

  2. I wouldn’t call them a scam but I do not recommend Alvexo! They have arrogant managers who called me every day to deposit more funds. Live trading with alvexo is not so smooth and they execute orders with significant delays. Usually their customer support doesn’t care of you. They also delayed my withdrawal request but finally I got my money back.

  3. Initially I was happy they gave me a lot of support. However, along with the support they pressured me nonstop to invest more money. They were always telling me they would only guide me. One day the broker called me and announced something big was coming and now was the time to invest huge amount. I already received a lot of pressure to invest more money and I did it. And something big really happened: I lost all my money because the market went totally opposite of the brokers “predication.” And I blame for this the broker and the constant pressure to put more money. They manipulated me be this constant pressure and I cannot be positive after my account was broken. Three years of saving disappeared! So, now must be happy Alvexo! The job is done! I’ll never trust these scammers!

  4. Let me tell you my experience with Alvexo. Two words: Stay away! I lost $25 thousand within two months and this reflected my life and my health. I got a lot of bright promises when I was about to start trading including professional support. They assigned the biggest scammer I’ve ever seen as my personal ASSistant, Antonios, and his only duty was to make me invest more money. I deposited $2,500 initially and then they promised me a special training I deposited another $7,500. They gave me a Prime account and did ‘some kind of’ training, not even a time in a day. But they pushed me to invest another $4,000 in order to receive better training. In total: 80% of all deals we made together were losing. I started trading by myself and this Antonio never called me and never show my mistakes so I requested to be changed. They agreed but only if I would invest another $11,000. Everything seemed to be ok now and I managed to win about $8,000 with my new assistant. A few days later they called me and threatened me to hedge my positions or they close my account. Then I was ill and couldn’t watch my account. During that time they did nothing, didn’t send me a single email. Finally, when my account was 0 they called me and blamed me for all the situation. Do not trust them! They do unrespectable actions. All they want is to invest more money and then you will lose all. Scammers!!

  5. I was trading with plus500 but decided to move to alvexo because I was attracted by their bonus campaign. I would like to emphasize that I never had any problems with withdrawing funds from plus500. They did this maximum in 5 days. I read about the bonuses in alvexo and opened an account with 1000$. Last night they called me and offered me to upgrade my account to gold plus 25% bonus. Wow, now I doubt is this real or they’re trying to scam me. Maybe it’s better to find another broker with MT4.

  6. When they called me offering the great opportunity to trade with Alvexo I was excited. I thought they would teach me how to trade and would show me some ideas. Well, the only I learnt was how to lose money. I was forced to open larger and larger positions. I even didn’t know existence of usd/ron but they showed me how to invest all my money in one position with this instrument. The best trading advises they gave me was not to use stop loss orders because they “do not allow the market to breathe” I lost almost $19,000 for just three weeks. I hope, this will save time and money of some other trader!

  7. They are scammers, I have been trading with this company since April 2018 they had a different name before they became WiseBanc I dealt with various account managers made some good progress had funds of over $132000.00 but was then given wrong trading advise, lost everything, then started again and last week I had about $28700.00 in my account, tried to withdraw $5000.00 got no reply and can also not log into my account at this stage. As mentioned in comment of Roelof I do not know what to do at this stage as I invested a substantial amount of money in this company with no returns. At this stage the funds in my account is more than my investment. Luckily I was introduced to a recovery expert Mr Robin Williams by a colleague who had the same experience with Coins247.com . God so kind Mr Robin Williams and his team worked relentlessly to recover 99% of my invested capital including my bonus. Feel free to reach out to him via his email address: [email protected] and he will guide on steps to take and retrieve your access to your investment.

  8. They want more money in and when you decline to take loans worth of €90,000.00 they’ll empty your investment account. That’s what happened to me. In the beginning it seemed to be ok, but when you want to take money out it is not possible. They say it takes long time to gather the money etc. There’s always excuse why you can not have your money back. I have contacted them via customer service and I never got reply in written. My first contact to them was the trading pause of seven weeks. I had that time on my account €85,654.00, suddenly when they started to do the trading, there was less that €20,867.00 left. I checked the trading history win loss report and there wasn’t loss enough that could’ve explained the disappearance of 60,567.0 euros. I was not able to get access to my invested capital including my bonus in the Bloombex account, God so kind, luckily as I was researching for how to get my funds back from the scam broker, then I came across a comment on the broker reviews website, that talks about a recovery expert, on binary,forex,crypto and bitcoin trade recovery, Mr Nathan Harold, he was to guide me the process to get my funds from the scam investment broker Bloombex option trade. Him and his team worked relentlessly to get my refund.
    Feel free to reach out to him , if you had same experience via his email address: [email protected] and he
    will guide you on steps to take and get your invested capital including your bonus back.

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