In addition to the Classic Account, there are also other account types with various spreads, but on the Classic Account, the spread can be down to as low as 2.9 pips. There is only one commission charged, the spread, and no other fees are assessed on any transaction. Alvexo is primarily a CFD broker and provides many of the same services as stockbrokers, including a web-based trading platform, a mobile app, and even MT4 support for forex trading. As Alvexo essentially offers CFDs, the platform’s commissions are built into the spread quoted for each asset. Spreads can change depending on the type of account used but can be as low as 2.9 pips on the classic account.
The next account is named Gold, with a minimum deposit of 5,000 EUR, followed by Prime that requires a deposit of 10,000 EUR, and ECN Gold Account with a minimum deposit of 20,000 EUR. They also offer an ECN VIP account but you will have to contact them directly to find out the required deposit. All this is too steep in my opinion, so Alvexo looks like a brokerage for traders with deep pockets but I am not sure the perks that come with a higher tier account are worth the extra investment. Alvexo offers two trading platforms – MetaTrader 4 and a web-based alternative.
Regulation and Security
As per this Alvexo review, the website offers education and research to all traders. The research field includes market updates, an economic calendar, trading signals, trading calculators, and blogs. On the other hand, the education segment includes tutorials, articles, a FAQ section, and a glossary.
So go through our review and get a better insight into the working of the trading platform. Furthermore, I found the customer support team are prompt, polite and efficient with their responses. In terms of markets, I found the range of instruments to be reasonable but not as substantial as top brokers like Swissquote who have thousands of tradeable assets. You can trade contract for differences on around 450 instruments in multiple asset classes including from Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds & CFDs.
This broker labels its Gold account as the “Most Popular”, but it requires a €5,000 minimum deposit. The only significant change remains a reduction in the minimum spread to 2.2 pips. Equity CFDs remain missing, https://forexbroker-listing.com/ the minimum trade size has been increased from 0.01 lots to 0.05 lots, and the stop-out level is reduced from 50% to 15%. Spreads start from zero pips whilst there is a $18 round turn commission charged.
Withdrawals come in time, the support team is responsive and responsible. You can enjoy a pleasurable trading experience with easy to use, engaging and powerful platforms that work seamlessly across your devices. You can choose between the popular MetaTrader 4 trading platform or the proprietary Alvexo web trader and mobile app. I personally use MT4 as it was the first platform that I really became accustomed to and have never felt the need to change. I like how it is available through most brokers which can be useful if you plan to switch brokers at a later date.
Additional Alvexo Plus services are also available to all users at Alvexo. The services include Trading Central, academy, Financial Web Tv with the latest news, webinars, trading signals, e-books, economic calendar, economics events and breaking news. Traders can enjoy the Alvexo Plus service based on the account type.
Gold account holders have access to Alvexo Plus for 60 days with three monthly consultations with a specialist. Alvexo Plus members can receive up to 5 personal consultations per month for 120 days. There is an MT4 plug-in available, as well as four trading calculators. It is important to note that each calculator accurately determines the broker fees, profits, and losses.
- You won’t get charged any deposit or withdrawal fees from the brokers side although some fees may be charged by payment providers when using certain methods.
- Over 450 assets including Forex, indices, commodities, equities, and cryptocurrencies are available at Alvexo.
- I had a lot of free time so I thought of doing some trading for fun and see if I’m good at it.
- In addition, NASDAQ and other exchanges have multiple indexes that track U.S. technology stocks listed on the NASDAQ, namely the United States Tech100 index.
Nothing on this website should be considered a recommendation or endorsement. We are not responsible for any losses you may incur, by investing with a company mentioned on this website. Always verify that your broker, is licensed by your local financial regulator. It’s so nice that Alvexo offers varied accounts that can fit any kind of trader, at any level of expertise. I started off with a Classic account and eventually upgraded all the way through to Prime account.
The majority of platforms provide an application for iOS as well as Android, allowing customers to stay connected wherever and whenever they like. Deposit sizes are available upon request only, but given the structure implemented, they will likely exceed €50,000 since the minimum lot size was increased to 0.25 lots. Once logged in, users can employ all the eye-catching features that MT4 is known for, such as numerous order types, 30 different technical indicators, and nine chart timeframes.
We specialize in global financial markets and enhance the trading experience of our customers by utilizing leading trading systems. With respect to your comments, we would like to highlight that we are a duly regulated Investment Firm abiding by the regulatory requirements of our competent authority. After complete the Alvexo review, we conclude that Alvexo is a trading environment more suited for experienced traders. The calls are mostly tailored so that new traders should get an idea on how to begin the trading, while for the experienced level of traders, it assists at an advanced level of skill set.
Brokers By Licenses
The spreads appear to be set at 0.0 pips on the account page, contrary to information found elsewhere, although this is clearly not the case. This pair of currencies has a trading spread of 1.4 pips and a commission of $18 per lot. Brokers make additional profits from the losses of their traders by acting as counterparties to open positions. Their spreads may differ depending on the type of account, but they are highly competitive.
Alvexo online trading lacks social trading and copy trading features. It has a rich research department with adequate educational materials, hosts various annual events, and offers clients the leading MetaTrader 4 trading platform in addition to its proprietary WebTrade. The education Alvexo offers is another highlighted feature since it aims to obtain long-term customer satisfaction through forex and CFD trading. Alvexo trading platform is a forex and CFD trading website established in 2014.
What Can You Invest in and Trade on Alvexo UAE?
Read detailed review to know about this platform whether to use or not. Withdrawals to a credit card can only be made up to the amount deposited via that card, and otherwise they need to go to a bank account. Alvexo also offers an award-winning WebTrader platform with no download required. The web-based option is available on any device with an internet browser while the interface is user-friendly and easy to navigate. Bitcoin and other cryptocurrencies are enabled by blockchain technology to transfer funds and store value.
You may need to verify your account to remove limits on methods in some countries. All funds deposited into your trading account must be under the same name. I have tested many brokers over the years and I didn’t find them to have the lowest spreads or commission fees. They hold client funds in segregated fiduciary bank accounts away from the company funds so that they cannot be used for any other purposes. These funds exist off the company’s balance sheet and cannot be used to pay back creditors in the unlikely event of default of the Company.
They also have a section for cryptocurrencies, which contains 14 pairs . It’s not the most we’ve seen but it’s a nice addition to an already big asset basket. Minimum deposit for new accounts is $500, and there are 4 different account types which offer various benefits. They offer in total more than 450 underlying assets for CFD trading.
In addition, traders can also take advantage of the Alvexo Plus service, depending on the type of account they have. With Alvexo, you can perform currencies, commodities, indices, equities, and cryptocurrencies trading. While this robust asset selection allows most retail traders to diversify their portfolios adequately, its downside is that it leads to unacceptable spreads and commissions. The MT4 trading platform is offered by Alvexo, but it lacks many of the add-ons offered by other brokers that can turn this platform into a true powerhouse.
There are no withdrawal charges as well, however, make sure to check with your payment provider as there are some internal fees that might appear by the payment providers. Alvexo is a highly regulatedbroker with a good reputation that provides flexible trading conditions, a variety of platforms, and pricing built into a spread or commission charge. Under this broker model, Alvexo does not act as a market maker or take on positions from clients itself, so that substantially reduces their conflict of interest with clients. For a Classic account, the requirement is $500, for a Gold or ECN account it’s $2,500, and for a Prime account, it’s $10,000. Alvexo offers a refer a friend promotional offer that awards users a $300 trading bonus upon the opening of a Classic account. Periodically, the broker also offers a first deposit bonus, the size of the which depends on the amount deposited.
Additionally, the regulatory rules followed by Alvexo require it to keep client deposits in a separate bank account with negative balance protection. On the Prime account, a minimum deposit of €10,000 is required to receive a spread reduction of 1.8 pips. Apart from the 0.25 lot minimum, no other conditions have changed.
This is normal part of the KYC procedure that online brokers conduct. Once the accounts team have verified your account, you will be able to fund it using any of the convenient deposit methods and you can then commence trading. The Alvexo trading academy has a selection of fun and easy to digest trading videos that can help you to learn some of the essentials of trading. Topics include technical analysis, types of markets, charts and more. I enjoyed browsing through each of the videos but I didn’t actually learn anything new as they only really cover the basics. However, if you are a new trader then they can give you a great way to learn about the markets.
By offering traders leading trading technology, Alvexo aims to ensure that trades can be executed instantly, something that will appeal to traders of all types of experience. A minimum deposit of €10,000 is required for the Prime account in order to receive 1.8 pips spread reduction. There are no other changes to the conditions other than the minimum lot size of 0.25 lots. Besides having access to Trading Central Academy Financial Web TV, students can also keep up with the latest news, webinars, trading signals, e-books, economic calendars, and economic events.
The Alvexo Plus package is available to Classic account holders for 30 days with a personal consultation. Alvexo Plus is available for 60 days, along with three monthly consultations with a specialist. In addition, members of Alvexo Plus can receive up to five personal consultations per month for a period of 120 days.
The holder of a cryptocurrency trade does not need to hold the asset, nor does a portfolio on an exchange need to be created. Alvexo provides no information regarding deposits and withdrawals on their website which is highly unusual. The absence of this critical component presented the final piece to conclude that this broker operates a trading environment that should be avoided. The economic calendar returned a blank section, while the four trading calculators are better presented as an MT4 plugin for a proper deal ticket. Still, the mix of different font sizes, colors, and overall design created an interrupted read, as did endless adds for Alvexo products. Alvexo customer support or compliance department can be easily accessed through their live chat function, which can be found right at the bottom of the screen.
The official website also provides its customers with contact numbers of the different offices in the United Kingdom , France, Romania, Spain, South Africa, Italy, and Sweden. Trades with alvexo are real and not a fake one, please have a realistic profit target with a realistic account type and good capacity that will enable a successful long term trading. Additional features of this broker include a signal service, market news, educational content, trading blog, etc. The way that the Scam Broker Investigator reviews a broker to know if they are a scam or legitimate, is by verifying that they have a valid brokerage firm license. The reason why investors only invest with a licensed broker, is because that is how you know that your funds are kept safe in a segregated bank account.