Alfa Forex Review
- Excellent selection of trading platforms
- Wide array of tradeable assets
- Great customer care and support
- Highly regulated and reputable
- No cryptocurrency trading
- No demo account
Alfa-Forex is a large and successful international online trading brokerage who primarily services traders from the European Union, Russia, and Asia. The brokerage has nearly 30 years of experience in the financial trading industry as Alfa-Forex is apart of Alfa Group which was first established in 1989. Alfa-Forex provides both private and institutional counterparties with an extensive range of financial instruments to trade across the global markets in a safe, secure, and reliable online trading environment. To further prove Alfa-Forex’s excellence, they have been awarded numerous best broker of the year awards from multiple reputable financial awarding agencies. Alfa-Forex and Alfa Group are owned and operated by Alfa Capital Holdings and the brokerages primary headquarters are based out of Cyprus at Themistokli Dervi,5, Elenion Building, 2nd Floor, 1066 Nicosia, Cyprus. Since Alfa-Forex is based here, they are licensed and regulated by the Cyprus Securities and Exchange commission (CySEC) and operate in accordance with the Markets in Financial Instruments Directive (MiFID ll). Therefore, Alfa-Forex is clearly a highly reputable and viable online trading brokerage. However, with so many great trading brokers to choose from, how do you know if Alfa-Forex is right for you? Well, in our in-depth review we break down all aspects of this lucrative broker so that you can decide if Alfa-Forex is the right trading brokerage for you.
Alfa-Forex provides their traders with not one but five highly capable and sophisticated trading platforms to choose from. No matter what type of trader you are or what your experience level is, Alfa-Forex has a viable online trading platform for you. See the selection of trading platforms overviewed below.
MetaTrader Platforms (MT4, MT5, WebTrader)
Traders benefit by having the choice of all three of the most sophisticated trading platforms in the world. The MT4 trading platform is hands down the most popular and preferred trading platform for the trading of forex and delivers an unparalleled experience. The MT5 trading platform is an upgraded version of the MT4 platform that’s significantly better for the trading of numerous financial instruments. Traders can easily participate in all markets and trade thousands of financial assets all from one account and one platform. The MetaTrader WebTrader platform allows traders to trade from any device and any location as long as they have an internet connection because the platform is entirely web based.
This platform is one of the most popular social trading and copy trading platforms available and allows traders to follow and copy several trading strategies of the most successful traders. In total, traders have access to over a thousand signal providers from all over the world.
Mobile MetaTrader & ZuluTrade
The downloadable mobile MetaTrader and ZuluTrade application is available for free from the Apple App Store and Google Play Store for iOS and Android mobile devices. The platform features much of the same functionality as the platforms described above and allows for 24/7 trading and control of your portfolio.
Traders at Alf-Forex benefit from a wide variety of tradeable assets to choose from. Not only can traders participate in trading the forex markets, but they can also trade over 100 CFDs on a wide range of financial instruments including precious metals, natural resources, energies, and shares. See these markets overviewed below.
- More than 160 currency pairs
- Majors, minors & exotics
- 4 types of precious metals
- Instant execution
- Trade oil and natural gas
- Agricultural products
- Over 80 corporate stocks
Fees and Commission
The fees and commissions at Alfa-Forex are relatively low and very competitive with the industry standards. The trading fees imposed on traders are imposed via floating spreads on each trade. For the EUR/USD forex currency pair, the floating spread starts as low as 0.7 pips and averages at around 1 pip. This is very low, especially considering the broker does not charge any commissions. The spreads for other currency pairs are quite low as well and the same goes for most CFDs.
Security and Fairness
Alfa-Forex is a very secure, fair and reputable online trading brokerage as they have nearly 30 years of experience in the financial trading industry and are licensed and regulated by the Cyprus Securities and Exchange commission (CySEC) and operate in accordance with the Markets in Financial Instruments Directive (MiFID ll. The brokerage also holds their client funds in secured and segregated tier 1 bank accounts and undergoes periodic audits to ensure transparency and legitimacy of the broker. As well, Alfa-Forex employs top of the line security technology such as advanced SSL encryption on all transmitted data.
Another area of excellence is the brokerages level of customer care and support. Alfa-Forex offers customer support 24 hours a day, 5 days a week via a variety of methods including email and telephone support with call back functionality. As well, traders can browse the extensive support page that comes complete with numerous FAQs and informative articles and content. All in all, the level of customer support is very good.
Alfa-Forex is a globally recognized online trading brokerage that facilitates trading in a verity of lucrative financial markets. The brokerage features a selection of highly sophisticated trading platforms, favorable trading conditions, and low and competitive fees and commissions. As well, Alfa-Forex can be trusted to provide secure, fair and reliable online trading services as they have an excellent reputation and are highly regulated. All in all, if you’re looking for a viable online trading brokerage, Alfa-Forex could be the broker for you.
The following are the common questions that customers inquired about Alfa-Forex.
Is Alfa-Forex regulated?
Yes, it is regulated by the Cyprus Securities and Exchange commission (CySEC).
Is Alfa-Forex a scam?
No, Alfa-Forex is a legit broker with nearly 30 years of experience.
Where is Alfa-Forex based?
Alfa-Forex is based at Themistokli Dervi,5, Elenion Building, 2nd Floor, 1066 Nicosia, Cyprus.