I like how it is available through most brokers which can be useful if you plan to switch brokers at a later date. In our Alvexo review today, we are going to look into the features that make Alvexo stand out as well as the ones that make it less appealing to some FX traders. The firm was launched in 2014 and its headquarters are in Limassol Cyprus. Like every other FX broker, Alvexo strives to give the good quality services. However, at times and in some areas, the quality of services it offers its clients is not good enough.
Although plans and leverage rates differ slightly, negative balance protection is available at both branches. As noted earlier in this Alvexo Review, Alvexo is honored to offer traders a platform to trade and gain knowledge simultaneously. The Alvexo review has covered all the essentials of the trading platform, emphasizing its features and fee structure and showing you how to set up an account in minutes. With a wide range of educational materials and strict CySEC supervision, Alvexo is undoubtedly a better brokerage for beginners and advanced users. As well as its web platform, Alvexo offers MT4 support, making it one of the best MT4 brokers for traders who want to trade Forex.
All you have to do is click on “start learning to trade” and open the tab full of articles and video tutorials. The portal provides a commission-free trading structure for all Classic, Prime, and Gold members. In addition, an inactivity fee equal to 10 units of the base currency may apply. Alvexo also charges exchange commissions on overnight positions or positions left overnight. With its mobile app, Alvexo makes it easier for its clients to negotiate on different assets with their company with the help of the mobile app. You can download the app from the App Store or Google Play Store for free, and it is compatible with both iOS and Android devices.
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. As we have already mentioned in this forex manual backtesting, Alvexo provides traders with a platform where they can both trade and learn simultaneously. We offer a wide range of educational offerings, including trading signals, news, webinars, eBooks, economic calendars, and even a Financial Web TV that is available on Alvexo’s website. Additionally, because the platform is licensed and regulated by CySEC in the EU, traders are able to reap the benefits of its reputation for security. Alvexo, offers 5 different kinds of accounts, namely classic, gold, Prime, and ECN.
Spreads can change depending on the type of account used but can be as low as 2.9 pips on the classic account. In particular, the spread is the only commission charged; no additional transaction fees apply. Alvexo offers five distinct account types, all of which has less-than-ideal trading conditions. The Classic account requires a minimum deposit of €500 and spreads start from 3.3 pips. Only Forex, commodity, index, and cryptocurrency CFDs are granted in this account type. Therefore, the asset selection is severely reduced from the advertised 450+ assets.
Alvexo Pros and Cons
Alvexo doesn’t charge a deposit fee or withdrawal fee, which is ideal for saving money in the long term. However, Alvexo does charge a small inactivity fee of 10 units of your base currency (i.e. $10) after three months of no trading. Notably, this fee is charged for every additional month of inactivity until a transaction occurs on your account. This teletrade metatrader 4 is also confirmed by the results on the comparison portal Trustpilot, where Alvexo received 3.9 out of 5 stars with a “great” rating after 373 reviews. In general, 77% of all users have rated the broker with 5 stars and Excellent. Both jurisdictions offer negative balance protection, but leverage ratios and deposit protection programmes vary.
We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. You can open an account by applying online, which you can do by clicking the green “open account” link on the homepage.
This is a suitable option especially if you are a beginner as you can familiarize yourself in a simpler way. Let us imagine for a moment if a trader has any questions about the platform’s features, fees, bonuses, or functionality. A trader who encounters this problem is advised to contact the customer support department of the broker, which will gladly assist them. A support staff member will generally respond quickly, is extremely responsive, and is efficient when it comes to dealing with problems when they arise. As of today, Alvexo has introduced a new minimum account amount of $250 for its platform.
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Our sales representative clarified the ECN account conditions and advised you to start with half of the amount you intended to start off with. So, as an inexperience person they pushed me to open a Gold Account without information about charges etc. They should have sent me signals on my email or mobile phone but unfortunately neither that is working with them. Click the ‘Deposit Funds’ button and choose the amount you’d like to deposit (minimum €500).
This platform is truly advantageous for sophisticated and advanced traders because the top-tier accounts provide low fees and have better tools. The trading dashboard is truly revelatory because it can be tailor-made to the needs of a particular trader. You can put up anything you deem necessary up there, which can invariably improve your trading prowess. The wide range of asset forex software development choices enables seasoned traders to broaden their portfolios and increase their trading capabilities. However, this inadvertently has unappealing consequences concerning commissions and spreads. They really have tide spreads but just on Eur/Usd and Usd/Jpy but comission…to get to Break Even point You need 1.9 pips so if you add spread the total cost is more then 2 pips.
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. Safety of your funds is of primary importance with accounts also having negative balance protection. They are focused on providing a personalised and reliable service whilst implementing the latest advanced innovative technologies to ensure you can trade in a safe and powerful trading environment. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms. Alvexo is a reliable broker that has great offering in different assets.
Acquiring new clients for an online trading brokerage has never been easier than with Alvexo Partners. The program has a high conversion rate and features some of the highest paid commissions in the industry. Demo accounts are available for you to test the different trading platforms and conditions before opening a real account.
Deposits and Withdrawals
The EUR/USD is listed with a spread of 3.3 pips in the Classic account; this is reduced to 1.4 in its ECN account, but a commission between $13 and $18 applies. Commission charges for equity CFDs range between $0.025 and $0.015 per share, and certain assets are priced as high as $50 per lot. This broker is a market maker and also profits from traders’ losses where it acts as the count-party to the positions taken. The broker performs STP execution with a broad range of account types and an ECN account feature which is excellent for algorithmic and active trading. Kindly note that hedging, guaranteed stop loss, social and copy trading are not available at Alvexo brokers. Apart from the demo account Alvexo offers, there are the popular Classic, Gold, Prime, and Elite accounts among the five types of accounts.
Alvexo UAE User Experience
However, most traders choose credit card or PayPal because the money is credited immediately and is available for trading. The MT4 platform also provides access to breaking financial news and traders can also code their own EAs to help automate trading. Forex brokers which do not provide research tools are usually geared towards seasoned and professional traders, who will rely more on the broker’s analytics offering to execute trades. Newbie traders will want to find a broker which offers enough research and training tools in order to acquire the necessary skills to make profitable trades. Forex analysis is used by retail forex day traders to determine to buy or sell decisions on currency pairs.
We do not present any investment advice or guarantees for the accuracy and reliability of the information. Lastly, Mobile App allows trading at any time with ease and convenience with all symbols and functions through full modification features covering your trading needs by any mean. Alvexo is owned and operated by VPR Safe Financial Group Limited a Cyprus Investment Firm supervised and regulated by the Cyprus Securities and Exchange Commission . In addition, there is another entity of Alvexo, which operates under HSN Capital Group Ltd, supervised and regulated as a Securities Dealer by the Financial Services Authority of Seychelles. Do not use if you are new because you will not get any guidance or help in making right trades. As a duly regulated Investment Firm abiding by the regulatory requirements of our competent authority, under no circumstances does the Company provide investment advice.
Let other traders know if this service is worth checking or should be avoided. The minimum withdrawal amount is $100 and the methods are credit cards, wire transfers and e-wallets such as Skrill and Neteller. In another section, they say that withdrawals take between 4 and 7 business days but the quote above is a bit worrying because basically, they say they don’t know when the money will reach you. The education section has enough information to prepare newbies for trading but won’t turn anyone into a professional trader. They have enough articles to cover the basics of Forex, CFDs, economic indicators, strategies, etc. but also a Daily/Weekly Market Review. However, the freshest daily news entry was 5 days old at the time of our visit but the weekly updates were given for the current week.
They provide a variety of account types along with a range of trading tools and trading academy. Spreads start from 2.2 pips whilst there is zero commission charged. Account holders get 2 months free 1 on 1 support, access to SMS trading signals/analysis and daily market review. The ECN VIP account is available upon request and can be customised according to individual requirements. Spreads start from zero pips whilst there is a $13 round turn commission charged.
The deposit details have been tabulated below for the Alvexo reviews. Traders were not offered any bonuses or promotions at the time of this Alvexo review, most likely because regulation does not allow these offerings. The brief market updates represent a solid service provided by Alvexo.
Alvexo Company Overview
As a result, cryptocurrencies such as Bitcoin are traded in real-time. If you need to contact Alvexo’s customer support or compliance department, you can do so easily through their live chat service that you can find at the bottom of the page. You can also find contact numbers for the various company branches on the official website, which are located in the United Kingdom , France, Romania, Spain, South Africa, Italy, and Sweden.
Personal account manager to ensure the complete satisfaction of the clients. Note that only ECN account such as the ECN VIP account holders can trade on US and European stocks. Forex – 58+ forex currency pairs such EUR/GBP, EUR/USD, and GBP/USD. Indices – CFD indices trading, including DAX and FTSE, is another instrument at Alvexo. By submitting your review you agree to the REVIEWS.io terms & conditions. Until then, the following 3 alternatives have been highly recommended by AtoZ team for anyone looking to make an informed decision when picking out a broker.
If you opt to get it via wire transfer, it will take longer than that. Alvexo only uses Euros and US dollars for these kinds of transactions. If you want to test your demo account, you will be credited with a virtual amount of 50k British pounds. You can use this to trade with the different assets without any fear of losing real money. This way, you can trade without using real funds and not worry about losing money.
You can access real-time market quotes and price feeds, view charts and manage positions from the palm of your hands on both Android and iOS devices. The Alvexo app is freely available to download from the relevant app stores or directly from the website. The support reps have full knowledge of all the issues or queries you may encounter about the platform or trading itself and provide answers promptly. It might be challenging for a particular caller because of the time difference and availability of reps that speak the same language as the one needing assistance.