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Al-Giz Review | "The Broker With Industry-Leading Prices" or a Scam?

by Kevin Berry
Rating: 
  1.9/5   Reviews: 3
Al-Giz - logo

Al-Giz proudly claims itself as the broker with industry-leading prices. Traders are promised spreads starting from a mere 0.2 points and an advanced platform. Well, let’s see if these promises hold water and if there are any signs of a scam lurking around. Check out the conclusions in our review.

Highlights

🏛️ Country Singapore
⚠️ Regulation
🖥️ Website https://al-giz.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit €250
⚖️ Minimum and Maximum Leverage From 1:25
⚙️ Trading Platform WebTrader
📨 E-mail support@algizclub.online
📞 Phone

First Impression of Al-giz.com

The Al-Giz website is certainly quite peculiar. We still haven’t figured out the meaning of their logo, why they opted for such dull colors, or what happened to the name. Is it an abbreviation or something else? What does it signify? Moreover, the overall menu design is not very user-friendly. It’s worth noting that some sections are missing on the site, and the arrangement of others is not particularly convenient. There are also numerous questions regarding the broker’s documents. Additionally, various awards are presented here, which seems quite dubious. However, it is worth mentioning that at least there is a risk warning.

Al-Giz - website

Partnership and Bonuses

Al-Giz offers several types of bonuses, including no-deposit, welcome, insurance, and standard bonuses. Their sizes start from 20% of the deposit. However, there are important conditions that the broker sets, and they vary for each type of bonus. In other words, they cannot be withdrawn easily. Traders need to fulfill specific conditions and achieve a certain trading turnover.

Account Opening on Al-giz.com

Al-Giz has introduced a relatively simple registration form. You’ll need to provide your contact details and create a password, and no further details are required. The company doesn’t even send a verification code to your email or phone number. The absence of additional verification steps poses a potential risk of unauthorized access and increases the vulnerability to fraudulent activities.

Register

Combining the client portal with the trading terminal, as observed in Al-Giz’s platform, presents certain drawbacks. Firstly, this integration may lead to a lack of separation between essential account management functions and the trading interface, potentially causing confusion for users. Secondly, it increases the risk of disruptions in accessing critical account information or executing trades if there are technical issues with the trading terminal.

Al-Giz - Client Portal

Furthermore, the Client Portal itself appears to offer a minimal set of functions, providing only the necessary features without additional tools or resources that could enhance the overall user experience.

Verification

To access all features on the platform, users are required to undergo a verification process. After completing the initial registration, users are prompted to submit identification documents. These documents include a valid government-issued ID (passport, driver’s license) and proof of residence (utility bill, bank statement). Ensure that the documents submitted are clear, legible, and valid.

Once the documents are submitted, the Al-Giz team will review them for accuracy and authenticity. This review process may take a short period, during which users might be asked to provide additional information or clarification if needed.

Pros
  • The verification is necessary.
Cons
  • Deadlines for document verification are not specified.

Trading Software

Al-Giz’s trading platform has raised significant concerns. Traders have reported dissatisfaction with the platform’s interface, describing it as unintuitive and poorly designed. Navigating through the various sections can be confusing for both novice and experienced traders.

Clients who rely on in-depth technical analysis may find the platform lacking in advanced charting tools. The absence of certain indicators and drawing tools hampers the ability to conduct thorough market analysis.

Some users have experienced delays in order execution, leading to frustrations and missed trading opportunities.

Features Al-Giz MetaSwissX  TraderRepublic
Demo Account ✔️
Mobile App ✔️
Own Development

How Can I Trade With Al-Giz?

Al-Giz places significant emphasis on its trading conditions, portraying them as favorable and advantageous for traders. However, let’s examine whether these conditions live up to the company’s promotional claims.

All Info About Accounts

Al-Giz offers a total of six account types, including two VIP accounts and an Islamic account. The minimum deposit required is 250 euros, while the Standard account suggests funding with 5,000 euros. Surprisingly, the Standard account doesn’t significantly differ from the first one, except for a slightly lower spread and bi-weekly consultations with analysts. The Islamic account requires a substantial deposit of 10,000 euros, and the Investor account demands a minimum of 100,000 euros. The notable concern revolves around the noticeably elevated minimum deposit requirements on the platform.

Additionally, the platform imposes a leverage of 1:25, with the maximum value left unspecified. VIP accounts, on the other hand, provide access to PAMM accounts, personalized daily analyses, and the ability to trade cryptocurrencies with leverage.

Al-Giz follows a model where more extensive services are offered with higher deposit amounts. This approach is disadvantageous as it implies that clients with smaller deposits receive fewer benefits and features. It can lead to unequal access to essential tools and resources, creating a disparity among traders based on their financial capacity.

Such a strategy contradicts the principles of inclusivity and fairness within the trading community.

Pros
  • Islamic account.
Cons
  • High minimum deposits.

Market Analysis and Education With Al-Giz

As we previously highlighted, Al-Giz offers education and analytics in some of its accounts. However, beyond the fact that the quality and quantity of available materials depend on the size of your deposit, there’s another crucial aspect to consider. Have you noticed that all employees of this platform remain anonymous? In other words, there is absolutely no information available about whether they possess any credentials, diplomas, or the overall quality of their knowledge. There is not a single example of market analysis or webinar publicly accessible, which is atypical for reputable and licensed brokers. So, exercise caution when relying on their daily analysis. It might be wise not to fully trust it, given the lack of transparency regarding the expertise of the platform’s personnel.

Deposit, Withdrawal, and Fees

Al-Giz offers several methods for deposits, including Visa, Mastercard, Skrill, Neteller, and PayPal. Additionally, the user agreement mentions bank transfers. The same methods are used for withdrawals, with no specified commissions. However, the broker does provide information on withdrawal times. You’ll need to wait for 5 business days for your withdrawal request to be processed, followed by an additional 10 days for the funds to reach your account. Indeed, these timelines may seem excessive.

Features Al-Giz Bankefex FxPro
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

You can reach Al-Giz via email, and they provide an office address in Singapore. However, the limited contact information raises concerns about the accessibility of the broker. Having minimal means of communication may be problematic, as traders often prefer more channels for support and assistance.

Pros
  • There is an email.
Cons
  • The contact list is rather short.

Is Al-Giz Dangerous?

It’s time to explore another crucial aspect – the legality of the company’s services. Let’s delve deeper into this matter.

How Long Does The Broker Work?

In the ‘About Us’ section, there is catastrophically little information about Al-Giz, practically none. However, judging by the homepage, one might conclude that the company has been in the industry for several years. At least, it has managed to receive a few awards, or rather, it just wants to convince clients of that. In reality, none of the awards actually belong to them. It’s all fabricated. Moreover, we checked the data on the Whois service and found out that this broker only appeared in July 2023. So, its real track record is quite laughable.

Domain info

How Is Al-Giz Regulated?

The question of the project’s legitimacy is of great concern to us. The agreement states that the managing company of the project is Manaz Ltd, with a Singaporean address provided in the contacts. However, the Singapore registry does not list such a company. Furthermore, in the documents, it is mentioned that all relations with the broker will be governed by the laws of Saint Lucia. Yet, there is no record of such a legal entity in the Saint Lucia registry either. It appears that Al-Giz operates entirely unlawfully and without official registration. In this case, the broker has no license for operation, as legitimate companies are the only ones eligible for it. In summary, the services provided to traders here are purely illegal.

Legal data check

Features Al-Giz Vergomarkets LiquidChart
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Al-Giz?

You need to create an account on the platform, undergo the verification process, and fund your account. Once these steps are completed, you can start trading.

Is Al-Giz Legit?

No, this broker is not legitimate. It is not registered anywhere, and consequently, it has not obtained a license for its operations. It exists solely as a website on the internet, making it illegitimate. 

How Risky Is It?

Trading on a platform with an illegitimate broker is highly risky. Engaging with Al-Giz poses a significant risk of losing your funds.
Kevin Berry
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Expert Opinion

Al-Giz appears to be more of a fleeting online presence than a credible company, raising eyebrows with its surprisingly brief history. It’s less of a brokerage powerhouse and more like a mysterious corner store. Trading with such a shady setup is akin to playing financial roulette – high risk, minimal gain, and a questionable identity behind the scenes. My expert advice: ignore this blink-and-you’ll-miss-money operation.

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Al-Giz rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Al-Giz

NickInvestor December 21, 2023 - 19:48
Doubts
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Engaged with Al-Giz on social media, and they’re pushing hard for investments. As a newbie, I’m lost in this financial maze. Can I trust this place for investment? The relentless push for a deposit is unsettling. Any seasoned traders out there who can shed light on whether diving in here is a smart move?

Reply
Skeptic_83 January 3, 2024 - 12:06
Empty trophies, granny stocks
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Seriously? This broker is trying to convince us it’s a decorated champion? Just take a peek at their official site – it’s a sad excuse for a brokerage. Are those stock photos of retirees? Is this a broker or a retirement fund? Where’s any mention of a license? Oh, right, they probably don’t have one. Save yourself the trouble.

Reply
Tom January 25, 2024 - 03:47
Fake address. Fake company.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Algae has a fake address in Singapore. I called the virtual office that is also a registered there and they said there is no one named Alge here. This is a fake site. Do not give your money to them. Report them to the financial stock market police in your country.

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