My Alfa Bank Experience: A Cautionary Tale

My Alfa Bank Experience: A Cautionary Tale

Hello there!

I've been around the block a few times when it comes to investing. I used to be really into it, studying both the theoretical and practical aspects. Some of my friends got hooked, and it looked like an addiction. People were putting in their life savings, only to lose it all. Others took out loans and ended up in debt. And then there were those who got caught with their pants down when the market crashed. I realized it's basically a casino, and investors have little to no protection, even in court. I made up my mind to avoid dealing with the big fish.

After all my trading, I had both wins and losses, but I didn't make a killing, so I decided to call it quits. But here's the thing - Alfa Bank came along with a sweet deal for their new clients. It was hard to believe, but they offered a monthly payment of 1,000 rubles for five months, totaling 5,000 rubles. All you had to do was open a brokerage account, top it up with 1,000 rubles, and buy some stocks.

But that's not all the fine print. Once the bank deposits the 1,000 rubles, you have to use it to buy stocks, or the next payment won't come through.

Over the course of six months, I accumulated almost 6,000 rubles, plus my initial investment. I didn't do any active trading, just watched the market and ended up with a loss of 500 rubles, which is 8.3% of my portfolio. And that's not all - the financial rollercoaster is a daily occurrence.

I also have a complete analysis of my portfolio for the entire period, which shows the income from my investments. However, it doesn't take into account the gift rubles and the stocks I bought with them. It only considers the 1,000 rubles I deposited.

I diversified my portfolio by investing in different companies across various industries, all within a budget of 1,000 rubles. I didn't want to overdo it, but even so, most of my funds were gift money. It didn't quite work out, and I'm not too bothered about it, to be honest.

The most ridiculous thing about this promotion is how Alfa Bank chooses who gets to use the privilege and who doesn't. I shared the link with a friend, and he opened a brokerage account just a week later, completed all the requirements, but the bonus didn't arrive the following month. We dug deeper and found out that this offer isn't available to everyone, with some pretty weird conditions. To me, it's either all or nothing, and this selective approach is unfair.

I've got some issues with the app, as it's not compatible with all phones, so I have to access it through a saved link on my desktop. The interface is pretty basic, and I've never seen anything like it before. I used to trade with another well-known bank, but I'd monitor charts on my computer from their website. It's really inconvenient to do it on my phone, as it doesn't display entry or exit points, and the chart is basically useless. It's so uninformative and often confusing.

Even when I set the daily time frame, it shows me all the candles for months, and I'm wondering why I'm looking at this.

I was left scratching my head when I saw the tabs at the top - they're just a bunch of useless links. The 'Review' tab, for instance, just shows the bank's own rating, which had me laughing out loud. I mean, come on, it's an Alrosa promotion that's been steadily declining over the past six months, and they're still touting it as a 'profitable' deal.

The 'News' tab, on the other hand, is a total snooze-fest. They're always saying things like 'the market is moderately growing' - code for 'it's not plummeting, but it's not exactly soaring either.' And when they mention a 'small correction,' you can bet your bottom dollar the market is about to tank.

The margin trading feature is a real head-scratcher. It's like they're trying to get you to take on more debt and rake in those commissions. But first, you have to go through some training and pass a test to get approved. I'm not a fan of credit schemes, especially when even experienced traders have gotten in over their heads.

Dividends? More like a joke. Some people try to buy dividend-paying stocks to make a quick buck, but let's be real - the stock usually tanks and loses value faster than the dividend payout. And sometimes the board of directors even decides to suspend dividends altogether.

So, I decided to cut my losses and get out of there. Investing is not a game, and this app is not worth the hassle. If you're looking for a better broker, there are plenty of other options out there. Alfa Bank needs to step up their game and attract some real talent, not just try to lure people in with fake promises.

My Verdict

I would not recommend Alfa Bank to anyone. The app is clunky, the interface is basic, and the features are limited. The promotion they offered was a joke, and the fine print was ridiculous. I'm glad I got out when I did, and I would advise others to do the same.

I'm extremely disappointed with my experience with Alfa Bank. I thought they would be a reputable and trustworthy broker, but they fell short in every way. If you're looking for a reliable and user-friendly trading platform, look elsewhere.