Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
9/10 · CriticalSole genuine licence, a Comoros MISA brokerage registration, expired 16 June 2025 yet was still advertised as current into 2026; a claimed Seychelles FSA licence quoted under two different numbers appears nowhere on that register.
Identity & transparency
8/10 · CriticalA real entity is disclosed and is on the registrar's record, but the company number differs from its own legal document, the only address given is the phrase Global Village Seychelles against a Comorian incorporation, and no officers are ever named.
Withdrawals & conduct
4/10 · ModerateNo complaint of either class was found on any platform, so there is no reported withdrawal failure; the score reflects a deposit-taking platform with a live wallet that went dark leaving clients no published route to a balance, not an evidenced denial.
Reputation
7/10 · HighNo Trustpilot profile exists for the domain and nothing surfaced on Reddit, ForexPeaceArmy or Turkish complaint platforms; a total absence of client traces is a signal for a firm advertising a decade of history, though it falls short of a documented multi-platform pattern.
Website claims
9/10 · CriticalA Seychelles licence it never held under two conflicting numbers, Since 2016 and 15 years of experience against a 2023 incorporation, an Investor Compensation Fund that does not exist for this licence, and two different licence and company numbers across its own documents.
Operational history
8/10 · CriticalVerified operating age is about three years from the May 2023 incorporation and is an upper bound because the domain cannot be dated; advertised history exceeds that by roughly seven years with no named predecessor, and the operation is now defunct.
Who they are
A quick desk file on the company behind the brand.
- Brand: ALZA FX, trading as ALZA FX Trade in its own site footer.
- Legal entity: ALZAFX LTD, a company limited by shares under the Mwali International Business Companies Act 2014.
- Registered: Bonovo Road, Fomboni, Island of Mohéli, Comoros Union, through registered agent Moheli Corporate Services Ltd (P.B. 1257). Incorporated 24 May 2023.
- Company number: HY00623625 on the registrar's record. The company's own privacy policy gives HY00523625, one digit different.
- Website: alzafx.com. The domain has been deleted and no longer resolves.
- Only licence: Mwali (MISA) brokerage licence T2023305, issued 16 June 2023, end date 16 June 2025.
- Also claimed: Seychelles FSA authorisation under SD034 and, in the following line, SDX038. Neither is on the Seychelles register.
- Offers: Forex, CFDs, shares and crypto on an in-house web platform, in Turkish and Arabic. Seven account tiers from 500 to 250,000 US dollars, leverage 1:100 to 1:400, welcome bonuses of 5 to 20 per cent, and an account manager, trading signals and a direct line to a dealing room at the higher tiers.
- Not accepted: the European Economic Area, the United States, and British Columbia in Canada. Turkey was not excluded, and the site led in Turkish.
- Age claim: 'Since @2016' in the page title and 15 years of experience in the footer, against a 2023 incorporation and a footer copyright line reading 2023.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Mwali International Services Authority (MISA), Mohéli, Comoros
Financial Services Authority Seychelles
Mwali International Services Authority (MISA), Mohéli, Comoros
Why we reached this verdict
How the evidence adds up.
Four things decide this, and they are all on the public record.
- An expired licence sold as current. The Mohéli registrar's own verification record for ALZAFX LTD gives licence T2023305 an end date of 16 June 2025. Archived copies of the site from February, March and May 2026 still told visitors it was authorised under that number. The register's summary list also still shows an Active badge next to an entry whose own certificate ran out more than a year earlier, which is a reason to treat that badge with care rather than a defence for the broker.
- A Seychelles licence that was never held. The About page claimed regulation by the Seychelles FSA under SD034, and one sentence later under SDX038. Two different numbers for one licence is already a problem. We read the FSA's capital-markets register in full across all seven categories, including the complete securities dealer list, and no entity containing the word ALZA appears in any of them.
- A history that was invented. ALZAFX LTD was incorporated on 24 May 2023, which the company states in its own privacy policy and which matches a licence first issued three weeks later. The site advertised 'Since @2016' and 15 years of experience. That is an overstatement of roughly seven years, and its own copyright line said 2023.
- Its own paperwork does not agree with itself. The privacy policy names brokerage licence T2023291 and company number HY00523625. The registrar's record says T2023305 and HY00623625. T2023291 does not appear on the Mohéli brokerage register at all. The legal page also advertised an Investor Compensation Fund, and a Mwali brokerage registration carries no compensation scheme of any kind.
Behind all of it sits the licence itself. The Central Bank of the Comoros has said publicly that the Mwali International Services Authority register of companies is a fictitious entity with no legitimacy and no legal basis to issue licences to financial firms. So even the one permission ALZA FX genuinely obtained bought its clients no protection, could not have compelled a payout, and has now lapsed.
The end is as telling as the claims. The site served its last pages in June 2026. By late August 2026 alzafx.com was appearing on a bulk certificate alongside dozens of unrelated throwaway domains and answering on a parking host, the pattern of a lapsed name picked up for advertising revenue. Today the domain has been deleted from the .com registry outright. There was no closure notice, no transfer of accounts, and no successor site.
On the numbers, the weighted mean of the six scored dimensions is (9x2 + 8x2 + 5 + 7 + 9 + 8) / 8 = 7.9, giving 79 per cent. One item of hard weight sets a floor of 70, which the arithmetic already clears.
Two limits on our confidence are worth stating plainly. No regulator has published a warning naming this brand or this domain, and we found no client complaint of any kind. The grade is therefore built on documents, not on victims. We also cannot date the domain: the .com registry holds no record for a name that has been deleted, so the operating age rests on the company registration alone and is an upper bound.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Mohéli registrar's verification record for ALZAFX LTD gives licence T2023305 an issue date of 16 June 2023 and an end date of 16 June 2025, with alzafx.com as the recorded website. The site was still presenting the licence as current in 2026.
E2The Seychelles FSA capital-markets register contains no entity whose name includes ALZA, across all seven categories including the complete securities dealer list. The broker claimed authorisation under SD034 and SDX038.
E3The broker's own About page states it is regulated by the Seychelles FSA under number SD034 and, in the following sentence, under licence number SDX038.
E4The site ran under the title 'ALZAFX | Since @2016' and a footer reading 15 years of experience, while the same footer carried a 2023 copyright line and named MISA licence T2023305. The company was incorporated on 24 May 2023.
E5The company's own privacy policy gives company number HY00523625 and brokerage licence number T2023291, both differing from the registrar's HY00623625 and T2023305, and confirms incorporation on 24 May 2023 under the Mwali International Business Companies Act 2014.
E6Licence number T2023291, named in the broker's own privacy policy, does not appear anywhere on the MISA list of authorised brokerage companies, which does list ALZAFX LTD at T2023305 as entry 65.
E7alzafx.com returns a non-existent-domain response and holds no record in the .com registry, so the website, client logins and support channels are all gone.
E8Certificate records show the last certificates issued for alzafx.com and www.alzafx.com in June 2026, then the name appearing in August 2026 on a bulk certificate alongside around 45 unrelated throwaway domains, and on a ww38 parking host. That is the signature of a lapsed name taken over for advertising revenue.
E9Archived captures of alzafx.com run from 10 June 2024 to 10 June 2026 and show the ALZA FX brand throughout. There is no earlier capture and no sign the domain ever carried a different business, so no predecessor brand is inherited.
E10The contact page gives the firm's whole address as the phrase Global Village Seychelles, with a United Kingdom landline, a WhatsApp entry printed as nothing but a country code, and no street, building or suite, while the entity is incorporated at Bonovo Road, Fomboni, Mohéli.
E11Seven account tiers from 500 to 250,000 US dollars, leverage rising from 1:100 to 1:400, welcome bonuses of 5 to 20 per cent, and an account manager, trading signals and a direct line to a dealing room allocated by deposit size. The Gold tier is headed 25,000 dollars while its own minimum reads 10,000.
E12The legal documents page invites visitors to read about 'our Investor Compensation Fund'. A Mwali brokerage registration carries no compensation scheme, and no such fund exists for this licence.
E13The Central Bank of the Comoros has stated that the Mwali International Services Authority register of companies is a fictitious entity with no legitimacy and no legal basis or authorisation to issue licences to financial firms, and that a MISA licence gives a client no route to redress.
E14A complaint sweep found no reviews or reports of any kind: no Trustpilot profile exists for the domain, and nothing appeared on Reddit, ForexPeaceArmy or the Turkish consumer-complaint platforms. No fund-integrity complaint and no positive review were located.
ModerateSweep of Trustpilot, Reddit, ForexPeaceArmy and Turkish consumer-complaint platformsE15The registrar's brokerage list records ALZAFX LTD as entry 65 with licence T2023305 and the website alzafx.com, which matches the operation examined and confirms the entity genuinely obtained a Mwali registration.
E16The site carried an explicit risk warning that the forex market is largely unregulated and that clients should be prepared to lose everything they invest, and it excluded the European Economic Area, the United States and British Columbia from service.
E17No MetaTrader 4 or MetaTrader 5 server was listed for ALZA FX or ALZAFX LTD, consistent with an in-house web platform whose pricing and execution no third party could verify.
WeakSearch of MQL5 broker and server listings
The other side
The strongest case in this broker’s favour.
The case for the broker, stated as fairly as we can put it.
- The Mwali licence was real. This is not a firm that invented a registration out of nothing. ALZAFX LTD is on the Mohéli registrar's brokerage list, with a company number, an issue date and the correct website recorded against it. Plenty of operations never get that far.
- It disclosed a real entity. The site named ALZAFX LTD, published by-laws, terms, a risk disclosure and a privacy policy, and linked its licence straight to the registrar's verification page. Many weaker operators publish no verify link at all.
- It warned people. The footer told visitors the forex market is largely unregulated, that they should be prepared to lose everything they put in, and that cyber attacks, financial crime and company insolvency were among the risks. It also excluded the European Economic Area, the United States and British Columbia rather than selling into them.
- Nobody has publicly accused it of taking their money. We looked on Trustpilot, Reddit, ForexPeaceArmy and the Turkish consumer-complaint platforms, and found no report of a refused withdrawal, a frozen account or a demand for a fee to release funds. Not one. No regulator has listed it either.
- A quiet failure is possible. Small offshore brokers close. If ALZA FX wound down, paid its clients out and let the licence and the domain lapse, the record we can see would look much as it does. We cannot rule that out, and we are not asserting that client money was taken.
- Some of the mess may be incompetence. Two licence numbers, two company numbers, a tier priced at 25,000 in its heading and 10,000 in its body, a WhatsApp line printed as nothing but a country code: that is also what a carelessly assembled site looks like, not only a deliberate one.
What this does not rescue is the Seychelles claim. Telling Turkish and Arabic-speaking clients that you are regulated by a named national authority, under two different numbers, when that authority has never authorised you, is not an administrative slip. It is the single finding that keeps this verdict where it is.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this assessment, in either direction.
- Toward a lower risk: evidence that ALZA FX returned client balances before closing. A wind-down notice, a statement from the registered agent, or several former clients confirming they were paid out would change the conduct picture substantially.
- Toward a lower risk: the Seychelles FSA register showing an ALZA entity under SD034, which would retire the most serious finding here. We would also revisit it if the FSA confirmed the number had been held and surrendered.
- Toward a lower risk: a named predecessor domain with archive history back to 2016, which would turn the age claim from a false statement into a poorly explained true one.
- Toward a higher risk: any first-hand account of a withdrawal being refused, a balance being deleted, or a payment demanded before funds were released. A single credible, specific instance of that last one would push this to the top of the scale.
- Toward a higher risk: a warning or alert from any regulator naming alzafx.com or ALZAFX LTD, or an access-blocking decision by Turkey's Capital Markets Board.
- Toward a higher risk: a successor brand sharing the same entity, registered agent, phone number or site template. That would make this a rebrand rather than a closure, and the history would follow it.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
MISA licence verification for ALZAFX LTD (T2023305)
The registrar's own record, showing the licence end date of 16 June 2025.
MISA list of authorised brokerage companies
Entry 65 is ALZAFX LTD, with alzafx.com recorded as its website.
Seychelles FSA capital-markets register
Open the Securities Dealer tab and search for ALZA. There is no entry.
Background on what a MISA licence is worth
Quotes the Central Bank of the Comoros on MISA's legal standing.
Frequently asked questions
Quick answers about this broker’s safety.
Is ALZA FX a scam?
On the evidence, probably. ALZA FX told clients it was regulated by the Seychelles FSA under number SD034, and in the next sentence under SDX038, while no ALZA entity appears anywhere on that register. Its only genuine permission, a Mwali brokerage licence, expired on 16 June 2025 and was still advertised as current into 2026. The business has since shut down and its domain has been deleted.
Is ALZA FX a fraud?
We cannot say that as a fact, and we do not. No regulator has made a finding against it, no court has ruled on it, and we found no client reporting stolen money. What we can say is that it published regulatory claims that were not true and then vanished, and that we assess the risk of fraud as high.
Is ALZA FX regulated?
Not any more, and never meaningfully. It held brokerage licence T2023305 from the Mwali International Services Authority in the Comoros from 16 June 2023 until 16 June 2025. The Central Bank of the Comoros has stated publicly that this register is a fictitious entity with no legal basis to issue financial licences, so the licence gave clients no protection even while it was valid.
Can I still withdraw my money from ALZA FX?
Not through the platform. alzafx.com no longer resolves and the domain has been removed from the .com registry, so there is no site, no login and no support channel. Gather your statements and payment records and work through your bank on a chargeback or transfer recall, and report the loss to your national regulator.
Was my money safe with ALZA FX?
No. A Mwali registration carries no compensation scheme, no enforced segregation of client funds and no authority able to order a payout. The site nonetheless advertised an Investor Compensation Fund on its legal page, which does not exist for a licence of this type.
Who owns ALZA FX?
The operating company is ALZAFX LTD, incorporated on 24 May 2023 in the Autonomous Island of Mohéli, Comoros, through registered agent Moheli Corporate Services Ltd at Bonovo Road, Fomboni. No directors, shareholders or officers were ever named on the website, and the company's own documents give a company number one digit different from the registrar's.
How old was ALZA FX really?
About three years. The company was incorporated on 24 May 2023 and its licence was issued on 16 June 2023. The website claimed 'Since @2016' in its title and 15 years of experience in its footer, which is an overstatement of roughly seven years. Its own copyright line said 2023.
What is the MISA licence T2023305 actually worth?
Very little, and now nothing. MISA is the company registrar of a small autonomous island, not a functioning financial supervisor, and the Comorian central bank has disavowed it. It cannot issue warnings, suspend firms, impose penalties or bring cases. The licence also expired on 16 June 2025.
Is ALZA FX a clone of another broker?
No. We checked the registers and found no sign that it borrowed another firm's licence number, name or registration. The Mwali register records alzafx.com as the website against ALZAFX LTD, which matches the operation we examined. Its false claim was about the Seychelles FSA generally, not about impersonating a specific company.
Why are there no reviews or complaints about ALZA FX?
There is no Trustpilot profile for the domain at all, and nothing on Reddit, ForexPeaceArmy or the Turkish complaint platforms. For a firm claiming to date from 2016 and offering accounts up to 250,000 US dollars, leaving no client trace in either direction is itself a warning sign. It does not mean clients were treated well.
Who was ALZA FX targeting?
Turkish and Arabic speakers. The site led in Turkish, offered an Arabic version, and published a United Kingdom landline. It excluded the European Economic Area, the United States and British Columbia, but not Turkey, where it had no authorisation from the Capital Markets Board.
What should I check before depositing with any offshore broker?
Take the licence number from the website and type it into the regulator's own register yourself, then confirm three things match: the company name, the licence status and dates, and the website address. Both of this broker's regulatory claims fail that check in a couple of minutes. Treat a licence from a jurisdiction you have never heard of as no protection at all.
What we recommend
The practical takeaway from everything above.
What to do, depending on where you stand.
- Do not try to sign up or deposit. The site is gone. Any page, app, messaging group or 'account manager' still presenting itself as ALZA FX is not the original business and should be treated as an attempt to take money from people looking for it.
- If you still have a balance, document it now. Save your account statements, deposit receipts, bank or card references, chat logs and the names of anyone who dealt with you, before more of the trail disappears.
- Go through your bank, not the broker. Ask about a chargeback on card deposits and a recall on transfers, citing the date the service stopped. Card schemes work to deadlines, so raise it quickly.
- Report it where you live. Turkish clients should file with the Sermaye Piyasasi Kurulu, which has no record of this firm, and with the police. Clients elsewhere should use their own national financial regulator's reporting form.
- Ignore anyone offering to recover your funds for a fee. Collapsed brokers attract follow-up schemes that target the same victims. No legitimate service asks for an upfront payment to get your money back.
- For our records: mark the broker page as closed, record the licence as expired on 16 June 2025, and keep the report visible. Note that our country field is correct and our licence field was empty and should be corrected.
- Before any broker, not just this one: type the licence number into the regulator's own register yourself and check that the entity name and the website match what you are looking at. Both of the claims here fail that test in under a minute.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 1, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.