Who knows Alaric Trader?

Discussion in 'Retail Brokers' started by Hunterrosemary, Oct 18, 2017.

  1. Is this company reliable? Some of their offers are too good to be true.
  2. Agassi


    I am wondering the same.
  3. bramnil


    been with them for over a year now. haven't encountered any issues with trading/withdrawals.
  4. wtrader


    Hi bramnil,

    Recently encountering leverage restriction issues with Alaric. Are you facing the same?
    Do you know any other options to Alaric who provide better leverage and similar platforms?

    Kindly let know,
  5. bramnil



    No, I do not have any restrictions on leverage. It's as per our initial agreement.

    There are many companies that provide similar services but i would say almost none of them provide DMA. All orders go through scrapers (aka internalization), which prevents me from getting proper fills.

    What kind of issues are you exactly facing?
    MichTrade and bukowski like this.
  6. tomorton


    The company is based in Bulgaria.
    CIA World Factbook -
    "Despite a favorable investment regime, including low, flat corporate income taxes, significant challenges remain. Corruption in public administration, a weak judiciary, low productivity, lack of transparency in public procurements, and the presence of organized crime continue to hamper the country's investment climate and economic prospects."

    There is no way I would trade in any sense with a company based in Bulgaria.
    Van_der_Voort_4 likes this.
  7. bramnil


    I can pull dirt like that on any country. Simple googling will do the job.

    I hope you do realize that Bulgaria is part of EU and the broker is EU licensed. Based on your logic, one shouldn't trust EU in general. Oh and btw, i've been trading with Alaric for around 2 years now and haven't seen any organized crime against my account lol

    Anyways, the choice is yours my friend. But judging the whole country by reading a couple articles here and there is not the way to do it ;)

    MichTrade and bukowski like this.
  8. tomorton


    Not pulling dirt, this is acknowledged and evidenced information, should form part of any trader's due diligence before gaily despatching money to a country ranked as even more corrupt than Cyprus.

    Just because you made an amateur error but haven't had to pay the price yet shouldn't be an encouragement for others.
    Van_der_Voort_4 likes this.
  9. bramnil


    Alright mate. It's a free world and everyone has his own opinion.

    Oh and where did you see me encouraging others? I shared my opinion just like you did. So you are the one being an amateur here and keep bringing up the same argument about the "country being corrupted." I'll have to repeat myself. Based on your logic, one shouldn't trust any EU bank/financial institution because it all falls under the same law. I'm not sending money to a local bakery, I'm sending money to an EU LICENSED BROKER DEALER. If that doesn't ring a bell for you then I don't know what does.
    MichTrade and bukowski like this.
  10. tomorton


    I'm not talking about the EU, I'm responding to your endorsement for a broker based in Bulgaria. Bulgaria may be in the EU but it clearly isn't the EU, all the member states have their specific regulators, legislation, judiciary etc.

    Its the same in the US, there are national laws re business but enforcement and regulations vary from state to state. It would just as ridiculous to regard conditions in the whole of the US as the same as in e.g. Maryland.

    The opinion of the US Government and Transparency International is that Bulgaria is a country with high levels of corruption, weak levels of law enforcement and the risks these things brings to doing business there. With respect I don't know you but my opinion is its better to listen to their opinion. I wouldn't send my hard earned money where you have sent yours.
    #10     Aug 9, 2018