Here at NewsBTC we recently partnered up with one of the world’s leading Forex brokers – AlfaTrade. The company, headquartered in St Vincent and the Grenadines, was founded in 2010 by AlfaTrade group Limited with the goal of becoming the “traders choice” broker in the industry. From what we’ve seen, and from what we have read, the company has been successful in its goal. Our review follows…
Company Name : AlfaTrade Limited
Website : www.alfatrade.com
Founded in : 2010
Regulation : FCA (AlfaTrade UK Ltd)*
Minimum Deposit : 500 USD
Languages available : English, Chinese, Spanish, Russian, Arabic
*AlfaTrade SVG is part of the company brand but is not regulated as per FCA guidelines.
AlfaTrade offers account types based on minimum deposit requirements. The first type – a standard account – has a minimum deposit of $500 and offers a trader access to spreads starting from three pips. The second type – the premium account – requires a minimum deposit of $2000 and offers traders access to breast starting from 2.3 pips. Finally, the pro account, requires a minimum deposit of $10,000 and gives a trader spread starting from 1.7 pips. All types offer maximum leverage of 200:1, and instruments available include Forex, contracts for difference on metals and also on indices. Minimum lot size 0.1.
As has become industry-standard over the past 10 years, AlfaTrade offers its clients free and unlimited access to the well-known MT4 platform. Users can gain access to the platform on both desktop and mobile (through the MT4 mobile app). In addition, AlfaTrade also offers a mirror trading facility – which allows users to copy the trades of successful traders automatically through their platform.
At the company’s website you can find a range of useful tools – access to all of which is free. These tools include an economic calendar, trading signals and daily market analysis. In addition, the company also offers a unique “guardian angel” tool that provides real-time feedback on your trading progress. This can be especially helpful when analysing results in order to optimise your strategy. Further to the tools offered, AlfaTrade also provides a free educational resource to its clients, and the facilities to open a free demo account on the MT4 platform.
AlfaTrade offers a range of support options both on and off-line. Users can speak with the brokerage directly through live chat on the website or through the telephone number listed on its contact us page. Further, there are a range of support emails designed to direct your query to the correct department.
All said, AlfaTrade looks to be – as described earlier – one of the industry’s top brokerages. Through its deep range of trading tools and educational resources, its use of industry-standard software and its various account types (as well as regular promotional bonuses), both beginner and more experienced traders can get an edge in the foreign exchange market.