Alfa Mercati has been flagged by Commissione Nazionale per le Società e la Borsa for "Unregistered/Unlicensed entity offering financial products or services|Genera...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Alfa Mercati has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Portfolio tracking tools|Clean UI|Competitive fees
Cons: Limited social trading features
After spending since I opened my account last year trying to make Alfa Mercati work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Easy withdrawals|No hidden fees
Cons: Research section could be deeper
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Alfa Mercati recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Reliable uptime|Clean UI
Cons: Some tools only available on higher tiers
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Alfa Mercati is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Blocked my account|No legitimate license|Fake returns
I lost a significant amount because Alfa Mercati did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: No hidden fees|Regular updates|Multi-device support|Tax reports included
Cons: Minor UI glitches occasionally
Alfa Mercati changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Intuitive for beginners|Clear documentation|Wide product range
Cons: Alert system is basic|Limited demo account features
Alfa Mercati offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Comprehensive tools|Automated trading options|Segregated accounts
Cons: No phone support on weekends
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Alfa Mercati has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises
I have been trying to close my account with Alfa Mercati for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Instant funding|Transparent fees|Market news feed|Intuitive for beginners
Cons: Minor UI glitches occasionally
After for about three months with Alfa Mercati I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Demo account available|Stable platform|Multi-currency support
Cons: Onboarding videos are outdated|Minor UI glitches occasionally