Alpha Capital Group Bans 150 Trader Accounts Over Group Trading

Reason for Ban: Single Computer ID Linked to Over 300 Accounts

Recently, prop firm Alpha Capital Group faced customer backlash after blocking and banning 150 trader accounts. The company stated that this widespread account suspension was due to suspected violations of platform rules, specifically "group trading" and "account management practices."

In a social media statement on Sunday, Alpha Capital Group disclosed that they discovered over 300 accounts associated with a single "computer ID."

This ID is a unique identifier for each personal computer and smartphone, suggesting that someone might have created hundreds of accounts on the platform.

Alpha Capital Group explained: "Our investigation found that this device ID might be related to the Myfxbook connected to these accounts. Unfortunately, this triggered our system to flag these accounts, resulting in incorrect violation notices being sent to the affected traders."

The company stated that they plan to complete their investigation this week (6/10), reach out to each banned trader, and reinstate accounts that were "erroneously banned."

In their Sunday statement, Alpha Capital Group assured: "All affected accounts will receive an email notification today, and this issue will be resolved tomorrow."

Alpha Capital Group Rebounds from February Setback

In mid-February this year, due to regulatory pressure, Alpha Capital Group, along with several other prop firms, temporarily suspended new account openings and trading challenge eligibility for U.S. clients.

This industry turbulence stemmed from MetaQuotes (provider of the MetaTrader platform widely used by prop firms) suspending its licensing and partnerships with multiple companies in the sector.

However, Alpha Capital Group announced in late May that they were reopening to U.S. investors. They launched a separate service called Alpha Futures and partnered with a Seychelles-registered broker.

Reference:Prop Firm Alpha Capital Bans 150 Traders Due to Group Trading Allegations