Alliance Trader Review: Is It Legit or Scam Broker?

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Alliance Trader is an offshore broker, operating from Jamaica, and providing day traders access to the US stock market.

The broker’s website and operations is overseen by a company called Alliance Investment Management Limited.

On their platform, day traders can access a wide range of stocks which are listed on the NYSE, NASDAQ and several other exchanges.

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Also, Alliance Trader does not implement Pattern Day Trading restrictions, This rule is synonymous with stock brokers regulated by the SEC.

The Patter Day Trading (PDT) rule is designed to protect your capital and for the greater good of your trading account.

By trading with Alliance Trader, you have an enabling environment to overtrade and possibly ruin your account.

The broker currently has phone numbers in the US and Jamaica where they operate, although they claim that US traders are not allowed on this platform.

Since Alliance Trader is an offshore broker that seemingly offers some benefits, some traders who want to circumvent the PDT rule might be tempted to open an account here.

But before you do so, read this review and make an informed decision.

Alliance Trader review

The broker’s website has been around since 2004, which suggests that they’re popular or (should be popular ) on the internet.

Their website used to be called Alliance Investment Management Limited.

The advantages that this broker is using to lure traders and investors is that cash accounts can be opened with $1,000 while margin accounts require $2,000.

This offer is definitely attractive because most (if not all) US stock brokerages require at least $25,000.

Also, the other benefits that they tout on their website include the following:

1.4 to 1 buying power on margin accounts for intraday trading

2.Zero annual fees

3.No trade restrictions for securities bought or sold intraday

4.Commissions are allegedly competetive

Alliance Trader Trading Software and Fees

Alliance Trader provides the popular DAS Trader Pro software for desktop trading.

Users can also opt for the web or mobile versions of the software (DAS Active Web and DAS Mobile Web).

These trading software solutions ensure fast and easy execution, thanks to user-friendliness and direct access trading capabilities.

In terms of pricing, the broker charges various commissions and fees depending on trading volumes, type of stock being traded and other factors.

Other fees associated with using Alliance Trader platform are as follows:

Type of TraderConditionsFees
StarterUp to 400 units, $0.015 per unit thereafter$4.95
MaxUp to 2000 units, $0.01 per unit thereafter$8.95
Ultraminimum of 3,000 trades monthly required$9.95

The broker has also provided a page on their website where all the fees and charges can be found.

The use of software and data will also attract separate fees.

According to Alliance Trader’s marketing materials, these fees are paid on a monthly basis, ranging from $10 to $200 per month.

Exchange fees will also apply, so traders should keep in mind all the fees they will pay to continue using this broker’s services.

Conditions for opening an account

This stock broker has the usual KYC conditions for opening an account with them.

This may discourage some traders who want privacy.

Otherwise, if this is something that does not bother you, opening an account may require filling out an application form and sending it together with your ID and credit card statement.

Complaints about Alliance Trader

The major complaint that some traders have raised is that this broker charges a lot of fees, which can quickly add up.

To solve this problem, simply find a broker that charges less fees.

Secondly, they’re willing to provide a demo account for simulated trading.

However, trading on a simulator with this broker is restricted to 2 weeks.

After the 2 weeks, this account will be deactivated.

Depending with how much practice you’ve had, you may find yourself not as perfect if you transition right away into a live account.

My advice is that you should find a broker that will let you demo trade for a significantly long time.

Don’t open a trading account if the broker is quick to stop your trading on a simulator.

Also, brokers who discourage simulator trading portray a bad image for their brand.

They’re suggesting that they want your money right there and then. They’re greedy to some extent.

Other concerns include security and safety of user information on their platform.

According to one trader, Alliance Trader exposed emails of their clients while doing a scheduled Backoffice upgrade.

They claimed that this broker ended up sending mass emails to their clients where the recipient accidentally received over 100 different email addresses.

This breach of data security could be a concern to some traders.

And if technical upgrades look like this, then chances are that the broker could also expose your credit card details. Who knows?

Other services offered by this broker

They provide asset management and financial advisory services.

It’s not clear what terms and conditions apply when these folks manage your account.

Also, we do not know what returns and risk to expect since this information has not been provided on their website.

Should you open an account with Alliance Trader?

This depends with what you want from a broker.

We have always warned traders against using offshore brokers because the regulations in the jurisdictions where they operate are often weak.

Other than this, the fees for using the services of Alliance Trader could be relatively higher than some of the popular brokers around.

Since this review has discussed most of the things concerning this broker, you should now consider the pros and cons carefully.


We would like to see a lot of meaningful feedback from people wo have used this broker, since they’ve existed from almost 20 years now.

I do suspect that their fees are also higher compared to other established brokers in this game.

Also, if the offshore thing does not bother you, this would mean taking your chances because a margin account can be opened for $2,000 only.

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