Alpha Futures claims to be a fintech company focused on providing algorithmic trading solutions for global markets by utilizing artificial intelligence and algorithmic trading technologies. Headquartered in Singapore, the company operates in multiple key areas including stocks, equities, cryptocurrencies, contracts for difference (CFDs), and online gaming. However, the company's background is not straightforward, with a history of multiple rebrandings and a complex scam history hidden behind its façade.
Company Background
According to its official website, Alpha Futures was founded by Glen Bekker and has built a team of data scientists, financial experts, and software engineers to drive technological innovation and market expansion. Initially, the company concentrated on developing AI-based trading algorithms.
As technology advanced and market demand grew, Alpha Futures gradually expanded its business scope. The company now has operations in five areas: stocks, equities, cryptocurrencies, CFDs, and online gaming, aiming to provide customized trading solutions for different types of investors.
Complex Scam History
Recently, the Alpha Futures website announced a merger with Atmos Data to form a new company named Mathiques. However, the background of Mathiques is not simple; it is the successor to UEZ Markets, which advertised itself as an "AI Intelligent Fintech Platform." UEZ Markets collapsed and absconded in July 2023. Following this, reports emerged that UEZ Markets and the defunct FVP Trade were both managed by the same group of individuals, who have now rebranded themselves as "Mathiques," once again under the guise of artificial intelligence.
- Fraudulent Activities of UEZ Markets
UEZ Markets employed a series of fraudulent tactics to lure investors into their trap. The platform attracted clients through online advertisements, social media, telemarketing, and spam emails, mainly targeting inexperienced investors eager for quick profits. UEZ Markets promised high returns, which were entirely fabricated.
Additionally, UEZ Markets claimed to be regulated by the Australian Securities and Investments Commission (ASIC), but the platform was never authorized or supervised by any recognized regulatory body. They used false regulatory information and high leverage to attract investors, significantly increasing trading risks. Moreover, UEZ Markets had a non-transparent fee structure and exorbitant withdrawal fees, further harming investor interests.
- Fraudulent Activities of FVP Trade
Similar to UEZ Markets, FVP Trade was another platform that claimed to offer forex and cryptocurrency trading but was not authorized or regulated by any regulatory agency. It attracted numerous investors with false promises of high returns, eventually absconding after amassing large sums of money, causing severe losses to investors.
Advice and Preventive Measures
For investors already caught in scams, trading circle experts recommend stopping any contact with the platform immediately, saving all transaction records and communications, and reporting the company to relevant local and international regulatory authorities. Investors should also seek professional financial and legal advice to recover their lost funds where possible.
Moreover, investors can better protect their funds by choosing platforms regulated by reputable regulatory agencies and avoiding investment platforms that lack transparency and reliable regulatory information.
Conclusion
Behind the glamorous facade of Alpha Futures as a fintech company lies a complex history of fraud. The company's repeated rebranding and renaming actions indicate that it is not genuinely committed to providing algorithmic trading solutions for the global market but rather uses these technologies as a cover for illegal activities. Investors should be particularly cautious when choosing investment platforms to avoid falling into similar fraud traps.
Currently, this company is marked as a "Ponzi Scheme" on Traderknows.
