ALB Prime is a forex broker registered on May 19, 2023, in Saint Lucia. It primarily offers financial trading services such as forex, commodities, precious metals, energy, indices, bonds, stocks, and cryptocurrencies to investors. The company is headquartered in Istanbul, Turkey. ALB Prime does not provide services to jurisdictions where it may violate local laws or regulations, including but not limited to the United States, Canada (including Quebec), Japan, Turkey, and Israel.
Corporate Registration Information and Regulatory Status:
The registered entity of ALB Prime in Saint Lucia is ALB Prime LTD, with its registered address at 1st Floor, The Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia, and registration number 2023-00177. Upon investigation, it was found that the company entity does not have any authorization or effective regulation from official financial regulatory authorities in any jurisdiction. Additionally, a similarly named entity was discovered in the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) during the search. According to Whois information, the broker's official website domain was registered on September 28, 2017.
The ALB Prime website claims, "The currency forex trading platform is provided online by albprime.com. All trading-related information on the albprime website is provided by ALB Group Holding. ALB Prime LTD is a registered brand of ALB Group Holding." Upon verification, only a UK-registered entity, "ALB GROUP HOLDINGS LTD," was found with a name similar to ALB Group Holding, but the relationship between the two could not be determined. Additionally, the ALB Prime website logo is identical to the logo of alb.com.
Account Opening:
To open an account with ALB Prime, users need to register a personal account. Clicking on "OPEN AN ACCOUNT" in the top right corner of the official website leads to the registration page. After filling out the account registration form and submitting it, the broker will send verification information to the user's provided email address. After successful verification, the broker will send the account password to the user's email. Users can then log in to their personal accounts using the account password. After logging in, a complete identity verification process is required before depositing funds and opening a trading account for transactions.
Account Types:
ALB Prime offers users both demo and live trading accounts. The minimum deposit amount is $100, and the minimum trading volume is 0.01 lots. For professional clients, the maximum trading leverage is 1:200, while for retail clients, the maximum trading leverage is 1:30. There are no trading commissions for forex, commodities, energy, indices, stocks, and precious metals, while cryptocurrency trading incurs a 0.4% trading commission.
Trading Platform:
ALB Prime provides users with the MT4 trading platform, available for desktop and mobile.
Deposits and Withdrawals:
ALB Prime only supports deposits and withdrawals using cryptocurrencies. Users can log in to the client area during deposit or withdrawal, navigate to "Deposit" or "Withdrawal" in the menu, and select the trading account for fund deposits or withdrawals.
Customer Support:
Users can contact the broker for customer support through phone at +90 212 337 02 90, email at info@albprime.com, and the online contact form on its official website.
Summary:
Traderknows advises investors that ALB Prime's entity registration information lacks transparency, and there is no evidence of effective regulation. Traderknows recommends investors choose trading platforms with transparent information, legitimate regulation, and a good reputation to avoid unnecessary financial losses. Currently, this broker is marked as "suspected fraud" on Traderknows.
