ByAlpha customer reviews

Updated: April 3, 2026
ByAlpha
Views98
Summary
Multiple reviewers accuse the broker of being an outright scam: aggressive account managers (named Adena Friedman and Renato) pressured users to deposit more funds, took control of trading without proper consent, and used a limited or manipulable chart interface. Several users report no paperwork, no automated withdrawal system, and that withdrawals must be authorized by the account manager; requests to withdraw led to shouting, insults, threats, abusive WhatsApp messages, and ultimately account blocking without notice. Comms came from many phone numbers and different company names, and the firm falsely claimed affiliations (e.g., with Alpha Group). Reviewers say the company is unregulated, unresponsive to emails, refuses to return investments, and gives rude, unprofessional service; one reviewer described receiving threatening texts and having their account frozen. Overall consensus: lost funds, no recourse, and strong warnings to avoid this broker.
Burst
18.12.2024 | 18:16

This website is definitely a scam!! DO NOT GO ANYWHERE THIS!!! Stolen my life saving!! Sucks, Check the website on my Display picture section to get refunded

lucas
17.11.2024 | 06:50

I was really impressed by the entire set up of Seven-News .com, they brought a fresh approach and i got a good results from them.

Nikolaos Traikapis
27.10.2024 | 09:14

This Company is a scam 100%. Save your money and stay away from those scammers. I have lost my money and the same will happen to you too. They are rude and they are not willing to return the investments.

Sùsannah
25.10.2023 | 11:57

Stay away. I was contacted by Adena Friedman and Renato. Both kept pushing me to invest. No paperwork, rude responses. So unprofessional. Adena insults you, is rude. I have requested to close my account but low and behold, you can't email them ... SCAM company - do not listen when they say, anything about trust pilot reviews. I have been bombarded by phone calls from both these people - different numbers with different company names. KEEP AWAY.... Do not listen to them, all bullsh@t!! They say they are part of the Alpha Group - I contacted them and they said, they are nothing to do with Alpha Group....

A Haji
18.09.2023 | 19:05

Please stay away from this broker. This broker is 100% a scam no doubt about it. I blindly opened an account with them on 14/09/23 and stupidly invested 250 Euros as a trial. 5 minutes after I had funded my account, my account manager by the name of Adena Friedman contacted me and said that I did not need to do anything and that she will trade on my behalf as she had 10 years of experience in trading and analyzing markets. From 14/09 to 18/09/23 my account grew from 250 Euros to 277.47 Euros from the trades that she took. Their chart is doggy as you can’t actually see what is going on. All you can see are the currency pairs but not the candlestick chart. Evidently, this is a chart that they can manipulate and can make you lose your money in a second. On 18/09 my account manager (Adena) called me and asked me to invest more money as she did not like to waste time on small accounts. I said to her that I wanted to withdraw some money just to see how easy it was to withdraw money from the account. As she heard the word withdrawal, she got very angry and started shouting. She would not let me talk. She would just talk over me. She concluded by saying that it was not permissible to withdraw money from such a small account. When I told her that I would complain to financial ombudsman, she replied: "do whatever you want". As I was still arguing with her, she hung up on me. There is no automatic withdrawal system with this group. Every withdrawal must be authorized by your account manager. Dear investors, please, please, please keep your money in your bank account where you can withdraw and use it at any time you want and spend it on whatever you want. Once you invest your money into this broker, you will not see a penny back. Be careful! This broker is not registered with Financial Industry Regulatory Authority. Once your money is gone it is gone. I wish I gave my money to charity. It is too late for me but it is not too late for you. On the 25th of September 2023, I received a threat and a warning text message on my WhatsApp from the so called account manager who presented herself as Adena Friedman. And these were her words: “Hello Ahmed. I will ask you a couple a question. Since We are opening a case in behavior of the words that you directed to me and to our company. SINCE WE ARE THOSE SCRUBS persons what is the reason that you made this investment.to show us how smart you are using professional words ? We think that you are the most stupid person from the moment that you start those conversation with someone that you don't have idea with what are you dealing and what those words can bring you. If someone have stole your money before. Is not our fault that's your problem. So keep the words inside of your mouth in the moment that you speak with us. You had the possibility to operate with us and to know more about trading. Because if you will be smart you will not lose the money. Now before coming here and to tell us what we are because you are making a huge mistake. Those words that you tell to us go tell them that stole your money”. “If you are learned to see a lot of license. Then am sorry your problem again. We have one license. We don't mind if you trust us or not”. I was like, really? To be honest, I was struck dumb by the text and could not believe my eyes as I was reading it. I just wondered, how could a representative of a company write such a message and use the language she used. There is no taste and no professionalism in it whatsoever. And, apart from it being poorly written, it expresses anger and the sense of willingness to take avenge. The reason for all this is just because I asked to have my money back. Do you think that was enough? No, it wasn’t. On the 26th of September 2023 my account was blocked without notice or warning. This indicates that they know that they can do anything they want with your account and your money and you can do nothing against them because they are not regulated. Conclusion: I know that I cannot get my money back but I hope that my negative experience, with this scammer, will help prevent others from falling into their trap and losing their money. After this warning, if you give this scammer a chance to scam you, you will have no one to blame but yourself.

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