Alrakamiya Broker Review
Alrakamiya is an online brokerage platform operating through the domains alrakamiya.com and alra-kamiya.link. The company claims to have been active for over 8 years and to be registered in Cyprus. However, no verifiable registration details or company identifiers are available. Independent reviews suggest that the project only began operating in 2025. There is no transparent information regarding legal entities, ownership, or official contact details on the broker’s website.
Regulation and Licensing
Alrakamiya claims to be regulated by major authorities such as the FCA (UK), DFSA (UAE), VFSC (Vanuatu), and CSSF (Luxembourg). However, these claims are unsubstantiated. Public records from these regulators contain no entries related to Alrakamiya. In addition, the Central Bank of Russia has officially listed Alrakamiya as a firm exhibiting signs of illegal activity in the financial markets. This indicates that the broker is operating without a valid license in jurisdictions where financial services require authorization.
Markets and Instruments
Alrakamiya positions itself as a CFD broker offering access to a variety of financial instruments:
- Forex currency pairs
- Equities of major global companies
- Precious metals
- Cryptocurrencies
- Stock indices
- Commodities
While the platform advertises wide market access, actual availability and execution of these instruments cannot be confirmed without opening a trading account.
Account Types and Trading Conditions
The broker advertises three account tiers:
- Standard — minimum deposit of $100, basic features, leverage up to 1:100
- Advanced — minimum deposit of $1,000, access to more markets including cryptocurrencies, leverage up to 1:500, so-called “deposit insurance”
- Professional — minimum deposit of $10,000, 24/7 manager support, personalized trading conditions, maximum leverage up to 1:500
Alrakamiya does not disclose essential trading terms such as spreads, commissions, margin requirements, or order execution rules. The lack of transparency raises significant concerns.
Trading Platform and Features
The broker provides access to its proprietary web-based platform (WebTrader), available via browser. There is no integration with trusted platforms like MetaTrader 4 or 5. Basic charting tools, pending orders, and trade history are reportedly available, but no technical specifications such as liquidity sources, data feeds, or execution speed are provided. This limits the platform’s credibility and suitability for active or professional traders.
Deposits and Withdrawals
Alrakamiya supports several payment methods:
- Bank cards (Visa, Mastercard)
- Bank wire transfers
- E-wallets
- Cryptocurrencies (e.g., Bitcoin, Tether)
While deposits are reportedly processed within 48 hours, clients often complain about severe difficulties with withdrawals. Many report that once a withdrawal request is made, the broker demands additional payments (taxes, insurance, handling fees), and still fails to release the funds even after these are paid. There is no transparent fee structure or processing timeline for withdrawals published on the website.
Client Feedback and Complaints
User reviews of Alrakamiya are overwhelmingly negative. The most common complaints include:
- Inability to withdraw funds
- Demands for additional undisclosed fees
- Account blockages after withdrawal requests
- High-pressure tactics from so-called personal account managers
There is no verifiable evidence of any user successfully profiting or withdrawing funds from the platform. These patterns are consistent with high-risk or fraudulent operations.
Regulatory Warnings
The Central Bank of Russia issued an official warning against Alrakamiya, listing it among entities exhibiting signs of illegal financial activity. This is a strong indicator that the broker is not authorized to operate in the country and further suggests broader compliance violations. No regulatory agency has issued a valid license for this broker.
Conclusion on broker
Alrakamiya lacks transparency, proper regulation, and a proven track record. The absence of verified licenses, combined with misleading claims, poor user feedback, and official regulatory warnings, clearly indicates that this broker is not trustworthy. All available evidence suggests that Alrakamiya is a high-risk and potentially fraudulent operation. Traders and investors are strongly advised to avoid this platform and instead choose a regulated broker with a transparent history and clear legal standing.
