Alliance Reserve

Alliance Reserve is an intriguing firm, heralding a revolution in financial markets. Quite a strange statement from an ordinary CFD broker, right? During this review, we will look at what services this project offers and whether there is a common scam behind its innovative strategies.

Overview of Alliance Reserve

Before any online collaboration that involves depositing your own funds, it’s important to ask yourself some questions. So, is this broker trustworthy? What makes it special and why should I register there? In this article, you’ll find detailed answers that may shed light on your doubts.

Broker History

“Alliance Reserve has been in business for over 20 years and during this time we have built a reputation as a reliable and trusted broker.” Well said, but we would be wary of rushing to invest money here after only beautiful words. On the official website, there are no documents about incorporation of the company, no recommendations from users, or other achievements that a broker with such a significant period of work should undoubtedly have. These numerous omissions rightly raise questions regarding the reliability of this brokerage firm. Go ahead!

Alliancereserve.com Website

The best thing about this fruit of programmers’ work is its design: calm, modern, and quite simple. Although, to be honest, creators use a very boring template with predictable images. Skyscrapers, bitcoins, a person working on a laptop, all that. A kind of successful success, without any extra thought. At least the programmers have done a good job of optimizing the site, since its pages load quite quickly, without lags.

Apparently, Alliance Reserve has tried to create the appearance of a useful resource filled with a variety of information about trading. You can learn something interesting for yourself from training videos, a glossary, FAQ, as well as other seemingly important menu items. However, this impression is deceptive and nothing more than a foggy veil hiding emptiness.

Educational topics can be useful for absolute laymen who heard the word trading yesterday morning. Well, at least the broker provides KYC and AML policies, as well as Terms and Conditions, which its lazier colleagues often neglect.

Registration Process and Personal Account

When it comes to signing up, it’s really easy to register on Alliance Reserve’s website. You need to follow several steps:

• Enter your personal data (name, surname, email, phone number, country).
• Come up with a password.
• Accept the Terms.

Please note, you don’t even need to confirm your email or enter a code from the message. This deceptively easy registration process is puzzling, since lack of two-factor verification inevitably entails two serious drawbacks regarding potential work with the broker. First of all, your account with all the funds invested and earned will be extremely vulnerable to hacker attacks. Equally important, the creators of Alliance Reserve can freely register hundreds of bots on their platform to turn trading in their favor.

So, after registration, you will be able to download the platform (it weighs ~ 66 mb) or start trading on Webtrader. Your personal account also allows you to:

• Change password.
• Deposit/withdraw money.
• View history of trading/monetary transactions.
• Contact a manager via feedback form.

Such a primitive set of functions is typical for many pseudo-brokers. Why doesn’t Alliance Reserve provide promised accounts with different conditions? Where are the guides for working with the software? An online chat or maybe a verification form with questions regarding your investment experience, in general, everything that reputable Forex brokers have? None of this.

By the way, what about verification? Alliance Reserve does offer identity verification by uploading an unknown number of documents with unknown requirements. There’s no mistake here. We cannot state which of the 12 documents indicated on the screenshot below will be requested from you. Would you like to play a guessing game?

The AML policy adds little. It states that you are required to provide proof of identity and address for security purposes. Some, but not exhaustive, examples of confirming documents are given. The verification period isn’t specified.

Oops, there’s a catch! Alliance Reserve allows you to deposit/withdraw funds without any verification, which we’ll talk about later.

Trading Platform

When it comes to the broker’s platform, one can say that it exists on the same incomprehensible conditions as verification. The firm describes it in general terms, which are as slippery and streamlined as a rock at the bottom of a river. Actually, we don’t know its creator, so it’s highly unlikely that Alliance Reserve developed the software on its own. Downloading an unknown MSI file to our desktop from a dubious website that ignores any security guarantees would be an extremely stupid step on our part, and we don’t recommend you do such an action.

Another significant disadvantage is the lack of a mobile application in official stores. Moreover, the mobile app doesn’t exist in principle, or they don’t want to show us one. One way or another, we only have to deal with the web version. Similar to Alliance Reserve’s home page, the platform is unimpressive, because it’s obsolete and too corny, but basically functional.

Since the broker did not provide a guide on working with the software, we’ll try to do it ourselves. The header contains several functional buttons that you can use to:

• Top up your account balance.
• View main characteristics of your account.
• Change language (12 popular languages represented).
• Check notifications.
• Change the color theme.

Well, an experienced trader is unlikely to call these settings of Alliance Reserve’s terminal outstanding and cutting-edge. The platform’s functionality is also underwhelming. You are allowed to:

• Change the type of graph and cursor.
• Draw lines.
• Use a standard set of indicators without the opportunity to upload your own.
• Set timeframes from 5 seconds to 1 month.

There are no advanced settings or customization. Moreover, before our very eyes, connection to the server was interrupted every now and then, after which the terminal booted up about 10-15 seconds. There’s no need to say what sad consequences such a careless attitude towards stability of the platform during real trading can lead to.

Contacts

A list of contact methods isn’t dizzying, either. Alliance Reserve chose not to provide a phone number or office address. Live chat or social media are also missing. So, you can contact managers only through email support@alliancereserve.email or feedback form.

It’s a little funny that the broker lists support hours as Monday to Friday 04:00 – 01:00 GMT, while the home page proclaims 24/7 support. Another negligence and pitfall.

Analysis of Services Offered by Alliance Reserve

So, we discussed general information, such as design, contacts, registration, trading platform, etc. Let’s talk about the services provided.

Funding and Withdrawal

In the FAQ section, the broker claims that depositing is possible in three ways:

• Credit cards.
• Wire transfers.
• Electronic payments.

Content managers were so kind that they even described step-by-step instructions for replenishing your account. Unfortunately, Alliance Reserve is contradicting itself again. When we delved deeper into payment issues, we were quite surprised.

If you click the “Deposit funds” button, you will be presented with three options, the differences between which can barely be felt by your fingertips. First, they are called the same “credit card” and a few extra touches are added:

1. Secured. To ensure transfers, an unidentified payment system Payepo is used, which has earned negative marks on Internet and has been blacklisted by cyber agencies. Well, all you need is to indicate the depositing amount, card details, and then confirm the transfer. The amount is at your discretion, but not less than 11 and not more than 2,000 dollars.
2. Payment Secured. Here, you should indicate your ID, personal and contact information. The deposit amount doesn’t change, is equal to $250.
3. No extra mark. In this case, please provide your ID, email, details. The deposit amount doesn’t change either and is equal to $200.

In short, it looks like some kind of chaos. Why did Alliance Reserve produce three almost identical options for transfers from cards? Where is replenishing truly secure? Why is the top-up amount fixed? For example, to switch to a Silver account with a deposit of 10 thousand dollars, you need to make at least 5 transactions. So convenient!

However, if we turn to withdrawing funds, the picture becomes completely hopeless. According to FAQ, you can withdraw money from your account by using the same method you deposited it: a credit card or a wire transfer. As Alliance Reserve assures, it takes you about 5 days. At the same time, “Withdrawal policy” contains some intriguing instructions:

• Withdrawing is proceeding only via cryptocurrency.
• Minimum withdrawal amount is 50 dollars.
• Processing time ranges from 7 to 10 business days (ridiculous for crypto transfers).

Indeed. Alliance Reserve’s personal account offers withdrawals only through cryptocurrencies: Bitcoin, Ethereum, as well as two stablecoins (USDC, USDT). Imagine a plot twist for a person who topped up through a regular bank card and found out that its money could be withdrawn through crypto, which he has never dealt with! Not to mention a shady scam side of anonymous crypto transfers.

Finally, there are many tax-related pitfalls in terms and conditions. For example, the Alliance Reserve has a tax on dormant accounts: for 60 inactive days, 99 euros is charged. Also, the brokerage company came up with “night tax”, “Additional Fees and Expenses” (to extinguish unknown legal expenses), and “Fees in connection with Third Parties”.

After that, it’s worth starting to really doubt the safety of all your funds. When it comes to withdrawing, they have the right to charge extra money for “commissions” without asking you or explaining anything.

Trading Conditions

On the official website, there are five types of accounts: Basic, Silver, Gold, Platinum, and VIP. In fact, we have nothing to say about them, since we won’t waste time on a meaningless retelling of inadequate tariffs.

However, the important note is Alliance Reserve adheres to a policy of luring inexperienced traders through a variety of additional paid services. For example, if you invest more money, you get higher leverage, tighter spreads, and gradually discover new possibilities such as education on Professional Trading Tools, exclusive trading events, and other nonsense. Fraudsters often use this technique, deceiving those who don’t understand trading at all.

By the way, Alliance Reserve extends very strong leverage (up to 1:500). However, authoritative regulators usually prohibit even 1:100, since in Europe leverage trading is permitted up to 1:30. ‌That’s another proof of the company’s unreliability.

Unique Features

Alliance Reserve differs from other sloppy boiler rooms except in its attempt to create an educational center. The broker offers many different e-books and videos, which in theory could help you learn trading or improve your skills. Besides, the project has one more unique feature and offers mid-grade traders a debit card with which they can allegedly transfer cryptocurrency into dollars without delays. However, we haven’t seen functionality for ordering such cards anywhere on the website.

Is Alliance Reserve Trustworthy and Reliable?

So, while reviewing the broker’s services, we discovered so many problems and shortcomings that we lost count of them. It’s time to finally find out: is it worth trusting this company?

Assessing Legitimacy

On Alliance Reserve’s resource, it’s impossible to find the license or any legal certificates. Apart from that, the company doesn’t have a legal entity. In other words, it exists only as an anonymous site. In Terms and Conditions, it is written that “the broker is regulated by the laws of saint vincent and the grenadines”. Let’s not remind content creators that names of countries are written with a capital letter, instead, let’s check a small piece of information. The Grenadines has an open register of legal entities, however, Alliance Reserve is missing there. Ergo, no one body doesn’t regulate it.

Established Track Record

The project owners wrote that Alliance Reserve has been in business for over 20 years, but we reveal that its domain was only registered in 2022, which means they just lied. The broker didn’t even bother buying an older domain. Most likely, in December 2023, this candy wrapper will disappear without a trace.

Implications for Traders

After analyzing all the drawbacks and advantages of Alliance Reserve, it’s quite obvious that this is a scam. The pseudo-broker has no regulation, has existed for less than a year, and a careful study of its official website makes you raise your eyebrows. It’s better to choose a more reliable brokerage firm and not enter into any contact with such brazen fraudsters.

Strengths and Weaknesses