Alpha Takeovers

I found Alpha Takeovers through a podcast recommendation and the initial impression was positive. But since last summer later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.

The spread at Alpha Takeovers is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after my brother mentioned them and initially thought the platform was good - until I started trading seriously.

I wanted to transfer my portfolio from another broker to Alpha Takeovers. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.

I joined Alpha Takeovers through a financial advisor and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.

I had a dispute with Alpha Takeovers and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.

After for the past six months with Alpha Takeovers 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.

Alpha Takeovers 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.

Alpha Takeovers 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.

I closed a profitable position at Alpha Takeovers and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.

The platform at Alpha Takeovers is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since I opened my account last year of dealing with this, I have had enough.