Scam Brokers

Alan Kirkhope Group – Can You Trust Them?

Chainbits Staff | Publish date: 08/27/2023 (Last updated: September 08, 2023 06:49 AM)

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Alan Kirkhope Group - DO NOT TRADE WITH THIS PROVIDER

2.4/10

$100

Minimum Deposit

updated 2023

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The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 Review - Regulated broker

Plus500CY Ltdauthorized & regulated by CySEC

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82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

Website URL: https://alankirkhopegroup.com

Founded: 2023

Regulations: No Regulation

Languages: English, All Google Translate Languages

Deposit Methods: Cryptocurrencies

Minimum Deposit: $50

Free Demo Account: Not Available

Number of Assets: 4,000+

Types of Assets: Cannabis Investments, Metals, Forex, Indices, Stocks, Energies, Cryptocurrencies

Trading Accounts and Conditions

The Alan Kirkhope Group does not offer their customers trading accounts. Instead, this broker offers clients Plans. Here is what they look like:

Silver Plan: The minimum investment in this plan is $50. The maximum investment is $499. The weekly profit is 7%. The duration is 7 days. There is a 10% referral bonus. You can only reinvest twice in this package.
Gold Plan: The investment range is from $1,000 to $100,000. The 26-day profit is 15%. The referral bonus is 10%.
Platinum Plan: The investment range starts from $5,000 and has no cap on the maximum investment requirement. There is a quarterly profit of 20%. The duration of this plan is 3 months. You are given a 10% referral bonus.

We have no information on the trading conditions; we do not know the spreads, leverage ratios, order execution methods, fees and commissions, etc.

Alan Kirkhope Group – Advantages

There are no advantages to trading with the Alan Kirkhope Group. This broker is a scammer.

Alan Kirkhope Group – Disadvantages

Here are all the reasons why the Alan Kirkhope Group is a scam operation:

Unregulated and Blacklisted Broker

The first sign that a broker is not honest is their lack of regulation. A broker that is regulated will provide their clients with all the relevant information clearly on their website. So, it will not be a problem to get information such as the name of the company that runs their website, their location, contact information and their regulation status and the name of the authority that regulates the brokerage.

Alan Kirkhope Group claims to be based in London, UK. However, there is no contact number provided. Just an incomplete looking address and a generic email address.

This broker claims to be a private limited liability company that was incorporated in 2020. However, there is no certificate of incorporate and neither does the broker mention where they were incorporated. The only reference to regulations is in their Terms of Use section, where the broker states that you are entering into an agreement in accordance with the applicable laws and regulations.

Since this broker claims to operate in the UK, it would stand to reason that they would be regulated by the UK’s financial authority, the Financial Conduct Authority.

We checked the FCA’s database, which is available online. We found out that this broker is not regulated by the authority at all. In fact, this broker is not even incorporated in the UK at all.

We also found out that the FCA has actually issued a warning against this broker, blacklisting the Alan Kirkhope Group for operating without authorization in their country.

When a highly reputed authority such as the FCA blacklists a broker, then you know that you are dealing with a scammer. This is not a broker that you should ever do business with.

Plus500

$100

Minimum Deposit

Start Trading

Read Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade

$100

Minimum Deposit

Start Trading

Read Review

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

No Trading Platform

While this broker talks about trading with confidence in various markets and claims to offer more than 4,000 tradeable assets, there is no mention of a trading platform anywhere on their website.

And after registering with them, we tried to access their trading platform to check for ourselves what the Alan Kirkhope Group had to offer. However, we were unable to access their trading platform at all – it was not there!

The trading platform (and the trading conditions) is one of the two key offerings a broker has. So, if it is missing, then a broker is essentially not a forex broker. And therefore, they are actually a scam operation.

A legitimate broker, in contrast, will ensure that they publicize their trading platform repeatedly and prominently on their website. And they will offer their clients the best possible one – usually the MetaTrader 5 or MetaTrader 4 software for trading.

With this broker, we have nothing, and this is another clear sign that we are dealing with a scammer.

No Trading Conditions

The trading conditions is the other half of a legitimate broker’s offering. So, if the trading conditions are missing, incomplete or disadvantageous, then you know you are dealing with a scammer.

With the Alan Kirkhope Group, we have no trading conditions at all. We do not know the cost of a trade (spreads plus commissions), the risk levels (leverage ratios), order execution methods or even the tradeable assets. Such lack of detail clearly spells a scam.

Plans that Promise Profits Offered

The clearest indication of a scam is when a broker promises their clients profits – the way the Alan Kirkhope Group does.

The forex and crypto markets are so volatile that losses are much more common than profits. In fact, regulated brokers are legally expected to publish what percentage of their clients have suffered losses while trading in the forex market; this figure ranges from 75% to 85%, which means that the majority of trades end in failure.

Therefore, a broker cannot in good conscience guarantee profits for their clients.

The plans and referrals that the Alan Kirkhope Group offers is more of a pyramid scheme designed to take your money and scam you with tall promises of guaranteed profits.

Issues with Payments

We also have issues with the fact that there is only one payment option – cryptocurrencies. Legitimate brokers offer their clients a wide variety of payment options. When only crypto payments are the option, then you know that you are dealing with a scammer. Such payments are permanent and anonymous, perfect for scammers, and that is why they are offered by them.

Conclusion

The Alan Kirkhope Group is nothing more than another scammer in the market. This broker cannot be trusted.