Alfa Financials Scam?

[Marcelo Rosa]

I landed on this page after reviewing the approved brokers for currency trading at the Central Bank of UAE's website. I then googled Alfa Financials (which appears to be #1 on their list) and came across this thread. Thank you for saving me. I lost an incredible amount of cash with Plustocks. Anyways, coming back to here, one will and can file a complaint with the Central Bank of UAE about Alfa Financials. The link is here: https://www.centralbank.ae/en/index.php?option=com_jumi&fileid=45&Itemid=59
Do not let them walk away with your hard earned money. These people depend on hard-working individuals to think that they have to be resigned to their fate and accept the circumstances and conclusions. I say this because on my part I filed a complaint against my broker with the London Police and it had some effect. All the best and thank you once again.... whoever you are out there.

I'm happy you did your research before investing into Alfa Financials and that this thread helped you, they are scammers and unfortunately they are still out there, I recently met a guy who told me that made over $60K from their system, but at the same time, I know 3 more investors who lost $20K or more with Alfa, but they didn't file a criminal report and I already told them to do that, so it's their choice. It doesn't make sense several clients lose money and others make money, so in order to avoid the worst, don't invest in this company. Thanks for the link, if you know anyone who needs to file a criminal report, it could be helpful.

 

[ForexDubai]

Scam/Fraud alert ALFA Financials/Kerford Investments

We have waited over 1 month for withdrawal of money from this broker. We have discovered bad things about this people during this time.

1) HH Sheika Moaza is not involved she just local sponsor who is unhappy with the business.
2) Chairman Aboobacker and managemnt Mr. Shamsu is convicted felons.
ASSETS OF PUTHANKOTE VADAKEVEETIL ABOOBACKER'S FAMILY & COMPANIES SEIZED IN UNITED STATES.
The investigation in USA is concerned with the activities of P.V.Aboobacker, Richard J Kapsch, P.V. Veetil Muhammed Shamsudheen, Forex International Corporation, Chicago Forex Limited and others believed to be involved in this grand international felony, and focused on violations of the Internal Revenue Code, mail & wire fraud offenses and money laundering. For more details, contact: invisiblesleuth@gmail.com
Friday, November 11, 2005
The funds in bank accounts held in the name of 'Chicago Forex Ltd.' and 'Forex International Corp.' in Harris Bank, La Salle Bank and Burling bank were seized. Among the bank accounts confiscated were those held in the name of Puthankote Aboobacker, his brother, Muhammed Abdul Kareem Faisal (also known as P.V.Faizal ), his daughter, Sara Aboobacker, his wife, Razala Aboobacker, his brother-in-laws, Kandoth Firoz Hussain, Kandoth Shiraz Hussain and Niyaz Hussain. All the funds contained in the bank accounts in USA of the following companies were also seized: Reymount Investments Ltd. (Jersey), Reymount Investment Ltd. (BVI), Kerford Investments (UK) Ltd., Kerford Investments Inc., Kerford Investments Ltd. (BVI), Leader Far East Ltd., Leader Soft, RK International Inc. and Leader Holdings Inc. IN ADDITION TO THE FUNDS HELD IN 34 BANK ACCOUNTS, 6 PROPERTIES AND 2 VEHICLES WERE ALSO CONFISCATED BY THE US GOVERNMENT.
The investigation in US is concerned with the activities of P.V.Aboobacker, Richard J Kapsch, P.V. Veetil Muhammed Shamsudheen, Forex International Corporation, Chicago Forex Limited and others believed to be involved in this scheme, and focused on violations of the Internal Revenue Code, mail & wire fraud offenses and money laundering.
Also Manager Shamsu responsible for millions money stolen from Kerford Investments UK in JLT in 2015, many cases pending.
3) Kerford Investments is no registered with Central Bank in UAE. ALFA Financials should just intriduce clients to Kerford Invetments UK.
4) Kerford Investments bank account in UAE is freezone company, not licensed for take client money.
5) Kerford investments website now say Panama head office but we sign account opening for BVI company.
6) ALFA Financials office in Abu Dhabi not registered with Central Bank UAE. Only Deira office.
7) No managment in Deira office to help give back money. Aboobacker left country.
8) many people loose money from them https://www.forexpeacearmy.com/community/threads/alfa-financials-scam.44634/

Don't invest with them.. Withdraw all you money from these company now.....

 

[A.N.M]

Guys, Alfa financials is definitly SCAM.
Your money goes to their personal bank account and its not linked to the market.!! Simply they are pushing you to loose your capital because they hold it in their hands.
3 of my friends were cheated by alfa's staff all in the same way and later on we came to know about whats going on!
ALFA FINANCIALS IS ONE OF THE WORST COMPANIES IF ITS NOT THE WORST.

 

[FxMaster]

Guys, Alfa financials is definitly SCAM.
Your money goes to their personal bank account and its not linked to the market.!! Simply they are pushing you to loose your capital because they hold it in their hands.
3 of my friends were cheated by alfa's staff all in the same way and later on we came to know about whats going on!
ALFA FINANCIALS IS ONE OF THE WORST COMPANIES IF ITS NOT THE WORST.

It will be good if you can open a new thread in scam folder along with the details of your problem with them.

 

[Arukbabu]

I've been with Alfa now almost 3 months. I can provide some information that this review is missing. Firstly, I registered for a demo account through the AX1 software directly. After playing around in their software for a few weeks, I found it favorable to MT4 in some ways, for example it has some readymade scripts that work well. I did open an account with them after some time and thinking. they take bank transfer to open account.. I've had no issue with them. profit withdrawal is very fast. I tested a full withdrawal as well and it came in 2 days which is ok. though the leverage they offer is up to 1:100, For the spread of EUR/USD i found the spread to be 1.5 fixed. their spreads are higher in general than other companies, but they are all fixed, so I've found it can be very advantageous when market is particularly volatile.

 

[Arukbabu]

I've tried Alfa for almost half year now so I think I can make an informed review on them. To open the demo account initially i downloaded their software and made a demo account from there. The spreads in the demo were quite high, but when I called them and asked about it, they said it was made to be higher in demo accounts. After 2 months of using a demo account, I decided to open an account with them and went to their office in person. They were able to make an account according to my needs, providing instruments that I wanted. The spreads are fixed and their signals are reliable most of the time. Overall I'm quite satisfied with them. I've had no issue withdrawing my profit, and they are responsive if I have any issue.

 

[ForexDubai]

I've tried Alfa for almost half year now so I think I can make an informed review on them. To open the demo account initially i downloaded their software and made a demo account from there. The spreads in the demo were quite high, but when I called them and asked about it, they said it was made to be higher in demo accounts. After 2 months of using a demo account, I decided to open an account with them and went to their office in person. They were able to make an account according to my needs, providing instruments that I wanted. The spreads are fixed and their signals are reliable most of the time. Overall I'm quite satisfied with them. I've had no issue withdrawing my profit, and they are responsive if I have any issue.

Arukbabu...so have you been with ALFA 3 months or 6 months?? HAHA an employee trying to scam new business...l not get my money back after 2 years...joke that Dubai allows this company operate

 

[Muhammad Anwar]

I was new to forex a couple years ago, and I used to join few unregulated brokers and was very unsatisfied in that withdrawals with these companies was very slow and sometimes didn’t come at all and I got scammed. So I started looking for a regulated broker and decided on alfa financials after a lot of research. It’s a good broker, and I’ve tested the withdrawal as well and it takes 2 days only. That was my main concern in finding a trustworthy broker so I’m quite happy.

 

[ForexDubai]

I was new to forex a couple years ago, and I used to join few unregulated brokers and was very unsatisfied in that withdrawals with these companies was very slow and sometimes didn’t come at all and I got scammed. So I started looking for a regulated broker and decided on alfa financials after a lot of research. It’s a good broker, and I’ve tested the withdrawal as well and it takes 2 days only. That was my main concern in finding a trustworthy broker so I’m quite happy.

Scam/Fraud alert ALFA Financials/Kerford Investments

We have waited over 2 years for withdrawal of money from this broker. We have discovered bad things about this people during this time.

1) HH Sheika Moaza is not involved she just local sponsor who is unhappy with the business.
2) Chairman Aboobacker and managemnt Mr. Shamsu is convicted felons.
ASSETS OF PUTHANKOTE VADAKEVEETIL ABOOBACKER'S FAMILY & COMPANIES SEIZED IN UNITED STATES.
The investigation in USA is concerned with the activities of P.V.Aboobacker, Richard J Kapsch, P.V. Veetil Muhammed Shamsudheen, Forex International Corporation, Chicago Forex Limited and others believed to be involved in this grand international felony, and focused on violations of the Internal Revenue Code, mail & wire fraud offenses and money laundering. For more details, contact: invisiblesleuth@gmail.com
Friday, November 11, 2005
The funds in bank accounts held in the name of 'Chicago Forex Ltd.' and 'Forex International Corp.' in Harris Bank, La Salle Bank and Burling bank were seized. Among the bank accounts confiscated were those held in the name of Puthankote Aboobacker, his brother, Muhammed Abdul Kareem Faisal (also known as P.V.Faizal ), his daughter, Sara Aboobacker, his wife, Razala Aboobacker, his brother-in-laws, Kandoth Firoz Hussain, Kandoth Shiraz Hussain and Niyaz Hussain. All the funds contained in the bank accounts in USA of the following companies were also seized: Reymount Investments Ltd. (Jersey), Reymount Investment Ltd. (BVI), Kerford Investments (UK) Ltd., Kerford Investments Inc., Kerford Investments Ltd. (BVI), Leader Far East Ltd., Leader Soft, RK International Inc. and Leader Holdings Inc. IN ADDITION TO THE FUNDS HELD IN 34 BANK ACCOUNTS, 6 PROPERTIES AND 2 VEHICLES WERE ALSO CONFISCATED BY THE US GOVERNMENT.
The investigation in US is concerned with the activities of P.V.Aboobacker, Richard J Kapsch, P.V. Veetil Muhammed Shamsudheen, Forex International Corporation, Chicago Forex Limited and others believed to be involved in this scheme, and focused on violations of the Internal Revenue Code, mail & wire fraud offenses and money laundering.
Also Manager Shamsu responsible for millions money stolen from Kerford Investments UK in JLT in 2015, many cases pending.
3) Kerford Investments is no registered with Central Bank in UAE. ALFA Financials should just intriduce clients to Kerford Invetments UK.
4) Kerford Investments bank account in UAE is freezone company, not licensed for take client money.
5) Kerford investments website now say Panama head office but we sign account opening for BVI company.
6) ALFA Financials office in Abu Dhabi not registered with Central Bank UAE. Only Deira office.
7) No managment in Deira office to help give back money. Aboobacker & Shamsu left country.
8) many people loose money from them https://www.forexpeacearmy.com/community/threads/alfa-financials-scam.44634/

Don't invest with them.. Withdraw all you money from these company now.....

 

[FxMaster]

I've been with Alfa now almost 3 months. I can provide some information that this review is missing. Firstly, I registered for a demo account through the AX1 software directly. After playing around in their software for a few weeks, I found it favorable to MT4 in some ways, for example it has some readymade scripts that work well. I did open an account with them after some time and thinking. they take bank transfer to open account.. I've had no issue with them. profit withdrawal is very fast. I tested a full withdrawal as well and it came in 2 days which is ok. though the leverage they offer is up to 1:100, For the spread of EUR/USD i found the spread to be 1.5 fixed. their spreads are higher in general than other companies, but they are all fixed, so I've found it can be very advantageous when market is particularly volatile.

I've tried Alfa for almost half year now so I think I can make an informed review on them. To open the demo account initially i downloaded their software and made a demo account from there. The spreads in the demo were quite high, but when I called them and asked about it, they said it was made to be higher in demo accounts. After 2 months of using a demo account, I decided to open an account with them and went to their office in person. They were able to make an account according to my needs, providing instruments that I wanted. The spreads are fixed and their signals are reliable most of the time. Overall I'm quite satisfied with them. I've had no issue withdrawing my profit, and they are responsive if I have any issue.

I thought you came after 3 more months and then you wrote: "almost half year now". Man, you must double-check before you write anything to public platform.