Alfa Forex
mgk global
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Alfa Forex was founded in 2011 and is headquartered in Cyprus, while mgk global was established in 2011 and is based in Cayman Islands. Alfa Forex holds licences including Securities and Exchange Commission (SEC), while mgk global is regulated by Financial Conduct Authority (FCA) among others. Alfa Forex serves 10,000+ clients worldwide; mgk global has 10,000+. The minimum deposit is $0 at Alfa Forex and $250 at mgk global.
| Feature | Alfa Forex | mgk global |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F278 |
| Founded | 2011 | 2011 |
| Country | Cyprus | Cayman Islands |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Alfa Forex and mgk global, directly affecting your bottom line as a trader. Alfa Forex has a lower barrier to entry with a minimum deposit of $0 (vs $250 at mgk global). Both brokers charge withdrawal fees. Alfa Forex applies inactivity fees on dormant accounts; mgk global does not. mgk global charges deposit fees; Alfa Forex does not. Overall, Alfa Forex scores higher on fees in our assessment.
| Feature | Alfa Forex | mgk global |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Alfa Forex offers MT4, MT5, cTrader, while mgk global supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Alfa Forex supports social and copy trading features, which mgk global does not offer. The two brokers are closely matched on platform offering.
| Feature | Alfa Forex | mgk global |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Alfa Forex and mgk global compare. mgk global runs regular live webinars; Alfa Forex does not. Both provide video tutorials. mgk global publishes daily market commentary; Alfa Forex does not. Both integrate third-party research tools. mgk global maintains an archive of past webinars for on-demand viewing. mgk global scores higher overall in education and research.
| Feature | Alfa Forex | mgk global |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Alfa Forex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while mgk global supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). mgk global uniquely supports PayPal and Skrill and Neteller among the two brokers. mgk global scores higher on deposit and withdrawal flexibility.
| Feature | Alfa Forex | mgk global |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Alfa Forex and mgk global offer live chat support. Both provide phone support. Email support is available at both brokers. Alfa Forex supports 2 languages and mgk global supports 8, giving mgk global broader global reach. Both brokers are comparable on support quality.
| Feature | Alfa Forex | mgk global |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |