An alloy can be made by mixing one metal with another, several metals together or mixing non-metallic elements with a metal(s). It is defined as a solid solution. This mixing is generally done at very high temperatures where the elements and metals are melted, mixed, and left to cool. The mixed elements have not combined chemically into a separate compound. The alloy has physical properties intermediate between those of the constituent metals; but the chemical properties of each element remain unaffected. An alloy can be separated by physical means (separated by melting). 

A compound is an association of several elements bound together by chemical bonds. Ideally there should be two or more elements to form a compound. It is not possible to obtain a compound by just mixing few elements together, but they are only achievable through specific chemical reactions. Therefore, it is also possible to obtain individual elements by breaking down a compound through other chemical reactions, as well. Compounds depending on their nature can be identified under different categories; molecules (elements bound together by covalent bonds), salts (elements bound together by ionic bonds), complexes (elements bound together by coordination bonds) etc. In some cases, many elements of the same type join together to form bonds, and they are known as polyatomic molecules. If two elements of the same type forms a compound, it is called a diatomic molecule.

You can find more information at the link I attached.

http://www.differencebetween.com/difference-between-alloy-and-vs-compound/

An alloy can be made by mixing one metal with another, several metals together or mixing non-metallic elements with a metal(s). It is defined as a solid solution. This mixing is generally done at very high temperatures where the elements and metals are melted, mixed, and left to cool. The mixed elements have not combined chemically into a separate compound. The alloy has physical properties intermediate between those of the constituent metals; but the chemical properties of each element remain unaffected. An alloy can be separated by physical means (separated by melting). 

A compound is an association of several elements bound together by chemical bonds. Ideally there should be two or more elements to form a compound. It is not possible to obtain a compound by just mixing few elements together, but they are only achievable through specific chemical reactions. Therefore, it is also possible to obtain individual elements by breaking down a compound through other chemical reactions, as well. Compounds depending on their nature can be identified under different categories; molecules (elements bound together by covalent bonds), salts (elements bound together by ionic bonds), complexes (elements bound together by coordination bonds) etc. In some cases, many elements of the same type join together to form bonds, and they are known as polyatomic molecules. If two elements of the same type forms a compound, it is called a diatomic molecule.

You can find more information at the link I attached.

http://www.differencebetween.com/difference-between-alloy-and-vs-compound/

an alloy is a mixture containing two or more metallic elements or metallic and nonmetallic elements usually fused together or dissolving into each other when molten. an example is brass. it is an alloy of zinc and copper....

a compound is a substance formed due to the chemical union (a chemical reaction) between two or more atoms or molecules...

It is completely misleading in materials science and solid state phys to differentiate alloys, intermetallic compounds  and compounds by looking at their miscibility ranges, and/or the nature of their binding forces (metallic, ionic and covalent etc.), which keeps them together to form of cohesive solid states having finite rigidity and some sort of  structure (short and/or long) for a given range of temperatures  and pressures.  In classical thermodynamics they were all called as mixtures. Important fact here is 'how one can differentiate,  the compounds & alloys, which are prepared from their constituents  by chemical processing at ordinary temperature or by high temperature melting and mixing procedures,   from the mechanical mixture prepared under the severe plastic deformation at room temperature or slightly above?  There are two terms Latin origin in Websters' :  misce're: capable to be mixed any ratio without separation of two phases.  Mixtura: mixing two or more components in varying proportion that retain their own properties.

Logically for me,  the end product is important if  I put the memory or history effects aside but not the way they are produced to get as a  final product!  Of course I know the importance of history in regards to their behavior in terms of mechanical and physical etc. properties.!! Best Regards.

An alloy is a material composed of two or more metals or a metal and a nonmetal.

A compound is a substance that results from a combination of two or more different chemical element s, in such a way that the atoms of the different elements are held together by chemical bonds that are difficult to break. These bonds form as a result of the sharing or exchange of electron s among the atoms. The smallest unbreakable unit of a compound is called a molecule

An alloy is can be homogeneous or heterogeneous.

But a composite is definitely heterogeneous - a matrix phase which is preferably a liquid and a dispersed phase which is preferably a solid.

An alloy is where there is complete mix of the properties of the constituents. It is not possible to break the alloy to get back its constituent constituents. Constituents lose their originality in an alloy.

Whereas in a Composite , the materials still regain their originality .You can take a CFRP and split it to get Carbon fibers and resin back,though not int he same phase that you added them.

An alloy is mostly isotropic. Whereas a composite is not,it depends on the stackup sequence.