Regulation AFM , NBS , BaFin , FCA , FI , CONSOB
Accepts US Clients: No
Min. Deposit: $250
Platforms: Mirror Trader , MT4 , MT4 Mobile , Webtrader
|Type of Broker||ECN , No dealing desk , STP|
|Islamic Account (Swap Free)|
|Deposit Options||Bank Wire Transfer , Credit Card , Neteller , Skrill , Webmoney|
|Withdrawal Options||Bank Wire Transfer , Credit Card , Neteller , Skrill , Webmoney|
Bonus & Rewards
|No Deposit Bonus|
|Bonus for First Deposit|
|Is the Bonus Based on the Volume of the Transaction?|
|Platform Type||Mirror Trader, MT4, MT4 Mobile, Webtrader|
|Streaming News Feed|
|Trade From Charts|
|Guaranteed Stop Loss|
|Guaranteed Limit Orders|
|Interest on Margin|
|Customer Support Languages||English|
|Customer Service Hours||24h|
|Place Trades Over the Phone?|
AlfaTrade - Overview
Operating mainly in the Eurozone region, AlfaTrade reputed to be one of the best international online forex brokers in the world. They are based in London and are regulated and licensed by the UK’s Financial Conduct Authority (FCA) under the FCA registration number: 611346. Their core business is the provision of a safe and reliable trading environment for retail traders as well as institutional clients who want to trade in the spot forex market. There are several reasons why AlfaTrade is extremely popular with its traders.
However, given the fact that there are very few ECN brokers around in the spot forex industry, the answer is obvious since AlfaTrade is an Electronic Communication Broker (ECN).
AlfaTrade is very aware that in today’s financial trading world, traders are more discerning and they are looking for a broker who can fulfill all their trading needs such as having a reliable platform, fast and efficient execution of trades, accurate real time pricing and depth of analytics. With all these in mind, AlfaTrade have provided their traders with a choice of several trading platforms that are designed to fulfil the varied needs of their traders. These include the popular and reliable industry standard platform MetaTrader 4 (MT4) which is packed with a full complement of technical trading tools as well as being capable of being customized with Expert Advisors (EAs).
Going with the flow of social trading development, AlfaTrade has also made a social trading platform available called Mirror Trader that will permit the lesser experienced traders to mimic their more experienced counterparts’ trading transactions. The mirror trading platform also allows traders to set their trading activities to automatic mode so no further intervention is required on the part of the trader.
And for those who wish to trade directly on the internet without having to download any software, AlfaTrade has also included a web based trading platform called the WebTrader. For traders wanting to trade while constantly on the move, they can also do so with their smartphones or mobile devices since AlfaTrade has made provisions to support mobile trading with the MT4Mobile trading app as well as making their website mobile friendly.
It should be noted that AlfaTrade is one of the very few brokers around that are willing to let non members view the trades of their social traders on a live basis. The main benefit of this is that traders can observe the right patterns to focus on with their analysis. To cut down the decision making time, AlfaTrade also provided a whole range of useful trading tools such as daily market analysis, an economic calendar and trading signals which traders can leverage to their benefit.
Following on from their objective of meeting all their traders’ needs, AlfaTrade has offered 3 types of trading accounts for traders to choose from. The most basic of these accounts is the “Standard” account which requires a minimum deposit of $500 to open. The second type of trading account is the “Premium” account. The minimum deposit requirement for this type of account is $2000. Lastly, the “Pro” account which requires a minimum deposit of $10,000 is designed for pro traders.
All the above-mentioned accounts allow the account holders to trade in spot forex and CFDs with a minimum size of 0.1 lot. As for the maximum leverage, they are capped at the ratio of 200:1.
Commission & Spreads
As for the cost of executing a trade, AlfaTrade takes pride in being able to offer their traders ultra tight spreads. The spreads offered might not be as low as that which some of the other brokers are advertising, although it should be noted that all of AlfaTrade’s spreads are realistic and reflect actual market conditions and are not manipulated in any way.
The spreads that are payable depend on the type of trading account which the trade holds. For Standard accounts, the spreads starts from 3 pips. Premium account holders get a slightly lower rate with the minimum spread starting from 2.3 pips. As for Pro account holders, the spreads which they pay starts from a minimum 1.7 pips.
Customer support service is available 24 hours per day from Monday to Friday. Available in 3 major languages such as English, German and Italian, those in need of assistance can contact the support team through email, live chat and the telephone.
As a FCA regulated broker, AlfaTrade’s traders can be assured of the legitimacy of its operation. Apart from the fact that AlfaTrade’s clients have their consumer rights protected with the force of the law, they are also entitled to compensation from the UK’s Financial Compensation Scheme (FSCS) if AlfaTrade runs into solvency problems.
- Choices of Trading Accounts
- FCA Regulated Broker
- Guardian Angel to monitor one trading performance
- No conflict of interest with this ECN Broker
- Social and Copy Trading is support with their Mirror Trader platform
- Free Daily Market Analysis and Trading Signals provided
AlfaTrade is indeed a top forex broker. They offer a comprehensive range of trading tools as well as educational resource which are geared towards making their clients even better traders.