FxAlta is an unregulated broker that we advise against trading with, despite the seemingly attractive deals it offers.
FXAlta claims to be operated by Mortiz Ltd and FXALTA LTD, the former purportedly regulated by the Labuan Financial Services Authority (Labuan FSA) with reference number LL16964 while the latter by the Mwali International Services Authority (MISA) with reference number T202295. It also mentioned Ceuda Investments Ltd claiming to be regsitered in Cyprus. However, our investigation suggests that Mortiz Ltd and Ceuda Investments Ltd are not in the registries of the Labuan FSA and the Cyprus Securities and Exchange Commission (CySEC). Although we did find FXALTA LTD in the MISA register, it is important to note that this authority doesn't regulate forex activities. As such, FXAlta is misrepresenting regulatory status to deceive unsuspecting investors. In addition, the Italian Companies and Exchange Commission (CONSOB) has ordered this broker's website to be blacked out since it offers financial services illegally. You can check the full warning here.
Regarding your question, we strongly suggest you drop the idea of dealing with FXAlta since it is not subject to any effective oversights in forex markets. Entrusting this broker with your funds or trading with it is highly risky, as there are no safeguards in place to prevent fraud or theft. Therefore, investors are suggested to stay away from unregulated brokers like FxAlta and opt for fully regulated ones instead.
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