AlfaTrade Review

AlfaTrade

* Ranked #17 of 316 in DailyForex's top broker list

Info

Name : AlfaTrade
Website : alfatrade.com
Established : 2010
Country : United Kingdom
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Demo Account
  • Choice of Trading Accounts

Disadvantages

  • No Bonuses or Promotions

AlfaTrade Review

AlfaTrade Review

AlfaTrade, founded in 2010, is a Forex broker owned by Alfa Trade (UK) Ltd. It is located in London, UK and is FCA (Financial Conduct Authority) authorized and regulated. Since its inception, AlfaTrade has gained a global reach of more than 150 countries throughout the world.

At AlfaTrade traders can select over 200 Forex and currency pairs, commodities, such as oil, gold silver, both major and minor indices and stocks.

Accounts

AlfaTrade offers three different account types, which are geared to all kinds of investors and can accommodate any amount of investment funding. With a minimum deposit of $500, a trader can open the Standard account and receive specific benefits. The minimum spread for this account is 3 pips.

AlfaTrade Account Types
AlfaTrade Account Types

Micro lots are available in the Premium account which can be opened with a minimum deposit of $5,000. The minimum spread for the Premium account is 2.3 pips. Investors with $50,000 and more are entitled to open a VIP account where the spread is reduced to 1.7 pips.

All three of the above trading accounts have access to Forex, CFD's in Indices and metals. They can all be used with the MT4, MT4 mobile and Mirror Trader platforms and they all can take advantage of leverage are up to 1:200.

I was pleased to see when doing this review that a demo account is available for traders wishing to practice Forex trading without putting their own money at risk.

Features

One of the nicest features I have seen in quite awhile is the chart of trading conditions. Currencies are divided into categories of FX Majors, FX Crosses, FX Exotics, Metals, Commodities and Indices and the columns are clearly defined in terms of average spreads, leverage, margin, minimum lot size and other trading conditions. This chart eliminates the guessing that can occur when traders are not aware of all the factors involved in each trading product.

Among the list of other market tools is the Guardian Angel which is accessible directly from within MT4. The AlfaTrade Guardian Angel provides real-time feedback on a trader’s trading progress, including feedback on his/her strategy's success and how they can improve it for future trading. This feature gives traders the confidence to trade more effectively by offering personalized feedback and advice on past activity.

Traders can sign up to receive trading signals either to their mobile device or their email. They also have access to autochartist, a powerful market-scanning tool that identifies chart and Fibonacci patterns throughout the trading day and automatically places the trades.

Education

AlfaTrade Educational Courses
AlfaTrade Educational Courses

The company’s website offers traders a range of useful tools and access to all of them are free. There are additional educational tools such as market analysis which is provided on a continuous basis. An updated economic calendar is posted with all the events and conferences being held throughout the world.

AlfaTrade Market Analysis
AlfaTrade Market Analysis

AlfaTrade Economic Calendar
AlfaTrade Economic Calendar

Also in the education section, viewers have the opportunity to watch a series of interesting and instructional videos on a number of different subjects. These videos are colorful and clear and offer useful information for all traders.

AlfaTrade Videos
AlfaTrade Videos

The videos are divided into sections such as Trading Tools, ECN, Social Trading, Trading Strategies and more. The Forex VOD unit offers additional videos for beginners and advanced traders. There is also a unit entitled ‘Terms’ where traders can benefit from an individual video on each important Forex term including ‘Pips,’ ‘Long and Short,’ ‘Take Profit Order,’ and others.

Additionally, AlfaTrade offers its account holders the opportunity to participate in informative webinars given by an expert team of speakers.

The online ebook is fun to read and I was surprised to see that I could access it totally without having to register or log in. The chapters of the ebook include interesting subjects such as Trader’s Psychology and Behavior, Essential Concepts and Terms, Tips for Successful Trading, Trading Tools and more.

Deposits/Withdrawals

Funding to AlfaTrade accounts can be made via all major credit cards, wire transfers and online payment programs such as Skrill, Neteller, WebMoney, CashU and others.

AlfaTrade has introduced a new and efficient automated system to withdraw money while accessing funds very easily at the same time. Funds are re-deposited in the same accounts from where they came.

Customer Support

Traders can contact an AlfaTrade representative via email and by telephone in England, Germany and Italy. An online form is also provided and Chat is available during trading hours.

The AlfaTrade website can be read in English, Russian, Japanese, Portuguese, German, Spanish, French and Italian.

Conclusion

All in all, AlfaTrade looks to be one of the industry’s top brokerages. With its deep range of trading tools and educational resources, its use of industry-standard software and its various account types, both beginner and more experienced traders can get an edge in the foreign exchange market.

Advantages

  • Demo Account
  • Choice of Trading Accounts

Disadvantages

  • No Bonuses or Promotions
Review info :
Broker reviewed : AlfaTrade Rating : 8 out of 10
Reviewed By : Review Date :