Alphabanc (alphabanc.com.au) has been flagged by ASIC (Australia) for "Unlicensed". Investor Alert warnings: https://moneysmart.gov.au/check-and-report-scams/investor-alert-list#!alphabanc-alphabanc-co-uk--1737 and https://moneysmart.gov.au/check-and-report-scams/investor-alert-list#!alphabanc-alphabanc-io--1738
Addresses: 24-26 City Quay Dublin Docklands Dublin D02 NY19 Irelan... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: alphabanc.com.au.
The reporting at Alphabanc (alphabanc.com.au) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Stable platform|Great customer service|Market news feed
Cons: Email notifications too frequent|Website design could be more modern
The spread at Alphabanc (alphabanc.com.au) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after a family member had a good experience and initially thought the platform was good - until I started trading seriously.
Pros: Risk management tools|Good mobile app
Cons: Slow to add new assets
Alphabanc (alphabanc.com.au) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Wide product range|Economic calendar
Cons: Mobile app could be improved|No dark mode on mobile
Alphabanc (alphabanc.com.au) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: High security standards|Tax reports included|Customizable dashboard
Cons: Desktop app not available on Linux