Our Alfa-Forex Review
Alfa-Forex is an online forex broker operated by Alfa Group, which is a major Russian consortium with operations in insurance, banking, investment, and supermarkets. The Alfa-Forex platform was established in 2003. CySEC in Cyprus regulates Alfa-Forex. It also has a license from the Russian Central Bank, which it acquired in 2018. Additionally, the platform is compliant with the MiFID rules, which offers protection for clients. The platform offers its services throughout the EU, Russia, and the former Soviet States.
Alfa-Forex Account Types
Users of the Alfa-Forex broker pick an account based on the trading platform they choose. Currently, the platform supports the MT4, MT5, and ZuluTrade trading platforms. The platform also offers users a demo account, which allows them to test the platformโs features.
- MT4
To open the MT4 account, there is no minimum deposit requirement. Users have access to spreads of as low as 0.7 pips and leverage of up to 1:200. The minimum lot size for this account is 0.01.
- MT5
The MT5 account type comes with no minimum deposit amount. Spreads can be as low as 0.7 pips and leverage can be as high as 1:200. The minimum lot size is set at 0.01.
- ZuluTrade
To open a ZuluTrade account, users have to make a minimum deposit of $300. Leverage is set at a maximum of 1:100 and the spread goes to as low as 2.2 pips.
Tradable Assets
Users of Alfa-Forex have access to a decent selection of tradable assets. Users can access all of the major FX pairs with all account types. They also have access to commodities, with a focus on precious metals, British Stocks, Russian Stocks, and Eurobonds, CFDs, and Indices. In total, traders have access to 160 tradable instruments.
Withdrawals and Deposits
On Alfa-Forex, traders have access to numerous options when they want to make deposits and withdrawals. These options include credit cards, Yandex.Money, QIWI, WebMoney, bank transfers, and Alfa-Click, the online payments platform created by Alfa Bank. Users of the platform can make deposits and withdrawals in EUR, Russian Ruble, and USD. It takes 2-5 days to process a withdrawal request depending on the option you use.
Educational Resources
New traders using the platform will find access to a wide array of educational material that is designed to help them hone their trading skills. There are articles on technical and fundamental analysis, numerous webinars, ebooks, beginners, courses, a comprehensive glossary list, and much more. The information is systematically organized to ensure users can quickly access what they need.
Customer Support
Customer support on Alfa-Forex is offered 24/5 in Russian and English. The platforms customer support can be accessed via phone, email, or live chat. They can also be reached via their social media accounts on Facebook and Instagram.
Summary
Alfa-Forex is a reliable trading platform with a great reputation. User funds enjoy legal protections due to the CySEC license. It offers traders access to a wide range of trading instruments and comes with great research and educational material. In general, it is a great platform for both newbies and experienced traders.