Alfa Forex Guide – Read our In-Depth Alfa Forex Review
This Alfa Forex review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Alfa Forex review does not apply to US users.
If you're a new entrant in the world of trading and broker, so many details will be perplexing for you. Getting into the area of trading requires expert analyzing skills and comprehensive understanding. You will get proficient at all the concepts of broker since you keep trading. For starters, you have to select the ideal broker who will be transparent with you always.
Within this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment program will create hefty returns. Alfa Forex is one such stage that will take you along with your investment to great heights. It's crucial that you know about Alfa Forex until you trust them with your cash.
Our entire Alfa Forex Review covers everything you will need to know about trading with Alfa Forex. A fantastic broker can multiply your initial investments and provide you favorable profits. If you would like to make profits, you should trade with a brokerage service that aligns with your investing goals.
There is no sure-fire method to guarantee profits; thus, you must carefully assess your broker before you choose them. It's a frequent misconception that all agents are the same, but that's not correct. Wrong judgment, in the beginning, can set your investments at risk.
Alfa Forex is a broker that has forged its way successfully to the broker world. Within this review, we've tried to collate a number of the vital aspects of Alfa Forex. This review will allow you to know whether Alfa Forex is a fantastic fit for your investments or not. We have tried to breakdown all of the qualities and charges for your advantage.
Alfa Forex Review, Table Of Contents
- Who are Alfa Forex?
- Benefits Of Trading With Alfa Forex
- Everything you should know about trading with Alfa Forex
- Is Alfa Forex Safe To Trade With?
- Pro's & Con's Of Trading With Alfa Forex?
- Compare Brokers Similar To Alfa Forex
- Regulation And Licencing In More Detail
- Alfa Forex Awards
- Minimum Deposit Required For A Live Account With Alfa Forex
- Alfa Forex Commission And Fees Explained
- Compare broker fees against Alfa Forex
- Alfa Forex Withdrawal Fees Explained
- Alfa Forex Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Alfa Forex?
- Alternatives To Alfa Forex
- Frequently Asked Questions About Alfa Forex
Who are Alfa Forex?
Alfa Forex is a forex broker headquartered in Cyprus and provides a range of instruments for online trading. Since its beginning in 2011, Alfa Forex has emerged as a leading player in the industry of online brokerage. Alfa Forex includes an extremely competitive and full-featured trading website that is focused on currency, indices, metals, sharesand commodities.
Over the past 10 years, Alfa Forex has grown into one of the leading online brokers.
After establishing in 2011, their customer base has become as big as 10,000+ clients.
Alfa Forex is the favorite for many traders.. Our Alfa Forex review found that they're an excellent choice for automated trading solutions. They're most appropriate for investors that are searching for an assortment of assets. Social and automated trading options are the heart at Alfa Forex.
Technology plays a substantial role at Alfa Forex. Alfa Forex features trading on MT4. Alfa Forex is fair, transparent, and also a well-regulated broker by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). Their outstanding array of tools will be beneficial for the majority of traders. Third-party partnerships also provide in-house analysis.
The educational department at Alfa Forex is very enlightening for new dealers as it allows them to have a closer look at the financial markets. Alfa Forex caters to all types of traders and are a must-have broker for any well-diversified approach to online trading.
If you feel that Alfa Forex is not right for you then at the bottom of this Alfa Forex review you wil find a lot of alternatives to Alfa Forex.
What you should know about trading with Alfa Forex
Alfa Forex is a dynamic platform that offers various techniques of online trading. These tools cover the monetary markets substantially. The Majority of the brokerage platforms offer less procedures than Alfa Forex
If you wish to exchange with Alfa Forex, you will need a minimum deposit of $0. This deposit is required if you would like to start trading with Alfa Forex. This 2021 Alfa Forex review will direct you safely about trading with them.
Alfa Forex is as versatile as another brokerage platform. Alfa Forex is excellent for traders that want a manageable range of low-cost services. The programs offered by Alfa Forex are third-party, white-label offerings. All traders can choose from MT4.
Together with everything, Alfa Forex has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time over which a trade has to be kept available. The brokers provide premium customer service that rewards customers with advantages.
Many less reputable brokers try to pressurise users into bigger funding for superior services. Alfa Forex, on the other hand, is much more focused on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the more benefits will come along.
Alfa Forex accounts are available globally and provides outstanding service everywhere they have clients. There are only a select few countries where Alfa Forex accounts are not available. Traders in the following countries cannot open or use a Alfa Forex account:
Is Alfa Forex Safe To Trade With?
Launched in 2006, Alfa Forex has been in operation for 10 years, they have a head office in Cyprus.
Alfa Forex is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). These figures have rules that mandate that trading platforms have measures in place to maintain investor's assets secured. This usually means that Alfa Forex users do not need to be worried about their money since it's segregated and safely stored in established banks. SSL encryption simplifies each user's personal information also.
You can make use of a choice for Two Factor Authentications (2FA) with Alfa Forex for heightened safety. An SMS with the confirmation code will be sent to your mobile phone. You'll be asked to enter this code to log into your account.
Another concern with fiscal brokers with respect to safety may be manipulation of trading. This is highly disadvantageous to users on these platforms. Nonetheless, this is more prevalent in the case of Market Maker brokers who compete with users on the platform.
Pro's & Con's Of Trading With Alfa Forex
Every online trading platform has a few ups and downs, and no Alfa Forex review would be complete without having a balanced approach. This Alfa Forex review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
Alfa Forex Pro's
- Alfa Forex is trusted by 10,000+ clients
- Alfa Forex doesn't charge inactivity fees
- Alfa Forex doesn't charge deposit fees
- Alfa Forex doesn't charge CFD fees
- Alfa Forex offer trading on MT4
- Alfa Forex offer 30 trading instruments
- Alfa Forex trades major forex pairs
- Alfa Forex trades minor forex pairs
- Alfa Forex trades exotic forex pairs
- Alfa Forex can communicate in
Alfa Forex Con's
- Alfa Forex does not offer Negative Balance Protection
- Alfa Forex does not offer Guaranteed Stop Loss
- Alfa Forex charge withdrawal fees
- Alfa Forex doesn't offer trading on cryptocurrencies
Alfa Forex Review - Compare Brokers Similar To Alfa Forex
|Alfa Forex||Charter Prime||SpreadCo||Hugos Way|
|Headquarters||Cyprus||Australia||London||St. Vincent and the Grenadines|
|Regulated By||Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA)||Financial Conduct Authority (FCA)||Financial Conduct Authority (FCA)||None|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk|
Alfa Forex Review - Regulation And Licencing In More Detail
Alfa Forex is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).
Alfa Forex, as a company, has a strong set of rules for ensuring fair trading onto its platform. For information encryption purposes, it provides an industry-standard secure socket layer (SSL).
As per the organization's privacy regulations, client information is never to be shared with some other institutions or individuals. Including credit history and other financial information.
Alfa Forex Review - Awards
- At the time of writing this Alfa Forex review, they had not received any awards.
Alfa Forex Review - Minimum Deposit Required
The minimum deposit that you need to begin on Alfa Forex is $0. This is an adequate amount for people just beginning. You can create more advanced residue as you go along. However, ensure you understand how to make the most of your cash before investing in larger amounts.
Alfa Forex Review - Commission And Fees Explained
Alfa Forex is an online brokerage platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled much better. In other words, an internet broker isn't necessarily influenced by the number of customers they have.
But this does not necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for a variety of services to earn money. There are primarily 3 different types of fees for this objective.
The first sort of charges to keep an eye out for are trading fees. When you make an actual trade, like buying a stock or an ETF, you are billed trading charges. In such cases, you are spending a spread, financing speed, or a commission. The kinds of trading charges and the rates differ from broker to broker.
Commissions can be fixed or determined by the traded quantity. On the flip side, a spread refers to the gap between the buying and selling cost. Funding or overnight prices are people that are charged when you hold a leveraged position for longer than daily.
Aside from trading charges, online brokers also bill non-trading fees. These are dependent on the activities you undertake in your account. They're charged for operations like depositing money, not trading for long periods, or withdrawals.
In general, Alfa Forex does not charge high fees compared to other online brokers. For operations other agents charge for, they do not charge a brokerage fee, or they charge a lesser amount. This is beneficial for those who regularly exchange, for example weekly or daily trading.
But, non-trading fees charged by Alfa Forex are comparatively competitive. Consequently, you are charged more for non-trading activities on your trading accounts, such as deposits and withdrawal. These aren't about the purchase and sale of assets.
This Alfa Forex review breaks down each of the applicable non-trading fees for you in detail.
Compare broker fees against Alfa Forex
|Alfa Forex||Charter Prime||SpreadCo||Hugos Way|
Alfa Forex Review - Withdrawal Fees Explained
Alfa Forex charges a withdrawal fee when you make a bank transfer. Each time you move money back into your bank accounts, these withdrawal charges become applicable.
Withdrawal of cash is possible at any time from your Alfa Forex account. You can withdraw up sums to the amount of your account balance, keeping aside the perimeter utilized. One thing to remember is that you don't always need to have any money in your account.
In addition, the withdrawn money will be moved directly to the account you use to make deposits. Therefore, if you used a credit card for deposits, then the withdrawn money is going to be sent into the card. Alfa Forex will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing cash in different currencies from USD, a conversion fee is also important. The conversion fee will be dependent on the money you are choosing to withdraw in.
Alfa Forex Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions that run through your head while open an account with Alfa Forex. An inactivity fee is an amount charged to registered traders that have not engaged in purchasing or selling for some time. The period regarded as inactive is determined by the broker.
The inactivity fee differs from 1 broker to another and isn't standardized. If a dealers account doesn't have a buying or selling transaction, it's maintained by the broker as an inactivity charge. The traders have to pay this fee under conditions and terms that they had agreed while registering.
Alfa Forex doesn't charge inactivity fees so you are free to pop in and out of your account as needed
Even if no fees are implied by Alfa Forex, it's best for you to close the account if you are inactive. Inactivity fees aren't just charged by broker firms but also many financial services.
For other trading platforms, the inactivity fee depends upon the type of account you have selected. The inactivity fee is subjected to a lot of circumstances and needs to be disclosed clearly by the broker beforehand.
Alfa Forex Review - Deposit Fees Explained
When you transfer money into your trading account from the bank account, a deposit fee can be charged by the broker. Most agents don't charge too much money for this particular operation.
Alfa Forex doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the Alfa Forex trading platform is simple. You just have to finish a single-user profile questionnaire to begin depositing money into your trading account. You will need to give an identity proof and proof of residency to deposit substantial amounts.
Alfa Forex Review - Compare Broker Deposit Methods
|Alfa Forex||Charter Prime||SpreadCo||Hugos Way|
What Can You trade With Alfa Forex?
Note: Alfa Forex provides many different trading instruments due to regulatory restrictions in various countries. Trading instruments offered will differ depending on the country of residence of the client.
Alfa Forex has a wide variety of over 30 instruments available for you to trade with.
If trading forex pairs is of interest to you then Alfa Forex offer over forex pairs.
Compare Alfa Forex, Charter Prime, SpreadCo & Hugos Way below.
Alternatives To Alfa Forex
If, after studying this Alfa Forex review, Alfa Forex does not quite meet your needs check out these Alfa Forex alternatives.
We have scoured the internet to find the best alternatives to Alfa Forex. Click on the links below to find out more.
Frequently Asked Questions about Alfa Forex
Can I try Alfa Forex before I buy?
Yes, you can most certainly try Alfa Forex before you buy. Alfa Forex provides demo accounts for the ease of beginner traders. You can use this feature to build your faith in the system and yourself and your trading strategies.
If you sign up to get a demo account on Alfa Forex, you may set out using a decent amount of virtual currency. It is to establish a feeling of security and confidence in you until you choose to invest your own money.
With this virtual Alfa Forexdemo account, you can experiment in any way, to whatever period you desire. You can also start positions, test different trading approaches, and much more.
Alfa Forex specifies on its official website which you are able to trade real time stocks in a demo account.
Is Alfa Forex safe?
It is possible to drop all your worries because we believe that Alfa Forex is totally safe to use. It's in compliance with all the principles of Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).
Even so, Alfa Forex doesn't provide assured stop-loss protection.
Why does Alfa Forex ask for my passport?
The reason that Alfa Forex asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Alfa Forex has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Alfa Forex must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Alfa Forex?
The process to start trading withAlfa Forex is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Alfa Forex website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Alfa Forex is $0. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Alfa Forex.
The best way to kickstart your trading career with Alfa Forex is to open a demo account facility before risking any real money
What funding methods do Alfa Forex accept?
There are multiple methods to fund your account with Alfa Forex. The process is effortless and quick, with different payment methods at your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing funds. You have to keep in mind that PayPal isn't available in every place. The currencies Alfa Forex
Is my money safe with Alfa Forex?
Yes, your cash is safe and secure with Alfa Forex. As you already know, Alfa Forex works with proper conformation to. It's established plenty of steps to protect all its own investors.
Alfa Forex safeguards its customers' private and sensitive information under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you want to further protect your account, it is possible to empower Two-Step Verification as well. It takes an SMS affirmation for you to get your accounts.
Is Alfa Forex trading good?
Yes, trading via Alfa Forex is a pleasant and good experience indeed. It is a great and intuitive platform with useful features for your ease. In addition, you can even gain access to a vast collection of educational resources and assistive material to kickstart your trading expertise.
If you remain skeptical, you can start a eToro demo account and assess the trustworthiness of the platform for yourself.
Which Countries does Alfa Forex support?
Alfa Forex operates across the globe. However, due to regulations there are some countries that Alfa Forex does not accept clients resident in
Is Alfa Forex legit?
Alfa Forex is a legit company headquarted in Cyprus since 2011. They are regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA). Alfa Forex is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Alfa Forex a good broker?
Alfa Forex is an excellent agent, and its users can vouch for this. The highlight of this platform is its fast order execution on trades.
You will discover the clean design of the platform and the commendable features a pleasure to work with.
Is Alfa Forex a trustworthy broker?
Yes, Alfa Forex is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Alfa Forex?
The minimum deposit to open a live account with Alfa Forex is $0
How long do Alfa Forex withdrawals take?
Normally, withdrawal of money from Alfa Forex is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Alfa Forex to show in your bank account.
Are Alfa Forex regulated?
Alfa Forex are regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA)
Is Alfa Forex a market leading broker?
Alfa Forex is currently among the business leaders. It has over 10,000+ registered customers and over 10 years of experience on its own record. They're among the world's leading trading platforms and a dominant figure in the Fintech revolution.
It majorly owes this standing to its unbelievable platform and broad selection of tools plus resources so that you can put money into capital markets.
Is Alfa Forex a con?
No, Alfa Forex is not a con. They are regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and must adhere to their rules. Thus, it is safe to say that Alfa Forex is not a scam.
Can you make money with Alfa Forex?
Through Alfa Forex, several traders make a great deal of cash. However, on average, through continual trading, you also can create between 2% - 10% profit a month.
This may seem to be a small number, but over the entire year, this adds to a significant number of gains. Even though Alfa Forex provide you all the tools to make money, they can't guarantee you will gain.
Does Alfa Forex have fees?
Yes. To begin trading with Alfa Forex, you need to deposit $0. Certain commissions while trading also applies. Any processing fees from your bank might need to be incurred by you.
When was Alfa Forex founded?
Alfa Forex was founded in 2011 in Cyprus. Alfa Forex is regulated by Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA).
How many people use Alfa Forex?
Alfa Forex is a worldwide recognised agent with 10,000+ clients.
Where is the Alfa Forex head office?
Alfa Forex has its head office in Cyprus
Does Alfa Forex offer negative balance protection?
No. Alfa Forex doesn't provide negative balance protection. If your balance is unfavorable, Alfa Forex indicates you contact client services. For this, you are able to correct any imbalances within your account.
Does Alfa Forex offer guaranteed stop loss?Alfa Forex unfortunately, does not offer guaranteed stop loss. Alfa Forex gives a chance for its dealers to close their trades at their given price. Aside from that, Alfa Forex doesn't offer guaranteed stop loss.
Does Alfa Forex allow scalping?Yes, Alfa Forex do allow scalping. Many traders throughout the world choose Alfa Forex for their scalping services. They offer trading on MT4 which allow this.
Does Alfa Forex allow hedging?
Yes, Alfa Forex does allow hedging.
Can you trade energies with Alfa Forex?
Yes, you can trade energy stocks with Alfa Forex
Can you trade agricultural shares with Alfa Forex?
Yes, you can trade agricultural stocks with Alfa Forex
Can you trade cryptocurrency with Alfa Forex?
No, unfortunately you cannot trade cryptocurrency with Alfa Forex
Can you trade metals with Alfa Forex?
Yes, you can trade metals with Alfa Forex
Can you trade UK Shares with Alfa Forex?
Yes, you can trade UK shares with Alfa Forex
Can you trade US Shares with Alfa Forex?
No, unfortunately you cannot trade US shares with Alfa Forex
Can you trade Japanese Shares with Alfa Forex?
No, unfortunately you cannot trade Japanese shares with Alfa Forex
Can you trade German Shares with Alfa Forex?
Yes, you can trade German shares with Alfa Forex
Does Alfa Forex accept bank transfers?
No, Alfa Forex does not accept bank transfers.
Does Alfa Forex accept credit cards?
No, Alfa Forex does not accept credit cards.
Does Alfa Forex accept PayPal?
No, Alfa Forex does not accept PayPal.
Does Alfa Forex accept Skrill?
No, Alfa Forex does not accept Skrill.
Does Alfa Forex accept Payoneer?
No, Alfa Forex does not accept Payoneer.
Does Alfa Forex accept Neteller?
No, Alfa Forex does not accept Neteller.
Does Alfa Forex offer Live Chat customer support?
No, Alfa Forex does not offer customer support through live chat.
Does Alfa Forex offer phone customer support?
No, Alfa Forex does not offer customer support over the telephone.
Does Alfa Forex offer email customer support?
No, Alfa Forex does not offer customer support through email.
What languages can Alfa Forex communicate in?
Alfa Forex has the ability to communicate and support customers who speak:
Does Alfa Forex have a wikipedia page?
No, Alfa Forex does not have an official wikipedia page.
Does Alfa Forex offer demo accounts?
Yes, Alfa Forex offers demo accounts so you can learn their systems before risking any real money.