Financial Commission Warns Against Alfafond for Suspicious of Scam and Defraud

The Financial Commission, an external dispute resolution (EDR) body dedicated specifically to FX, announced last week that it had added the brokerage company Alfafond to its warning list, for the Commission was notified by concerned traders regarding Alfafond and its associated website.

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According to the Commission, the information was provided by potential customers of Alfafond. Then, the institution concluded that the indicated company and associated website were suspicious of being used to scam and defraud traders and investors.

Accordingly, the Commission advised not to carry out business with the entity, either individuals purporting to represent this broker on social media and in private messages on popular messaging apps.

Previously, Fazzaco learned that the Financial Commission partnered with the identity verification service firm GetID​ to help the Commission’s broker members streamline customer onboarding.