With 54B+ trading volume and 933K+ positions opened, Alvexo has grown to accommodate an ever-growing 300K+ members. This review will explore the broker’s regulations, online trading fees, safety policies, leverage, spread, deposit & withdrawal methods and account opening processes at Alvexo. In any case, Alvexo’s research and education resources include a collection of e-books, webinars, and a blog. It also offers access to annual events to educate traders as well as daily independent access to market news through its Financial Web TV. It also runs an online trading academy, which features educational articles and comprehensive tutorial videos. There are four different Alvexo account types, each with its own features designed to suit the needs and trading styles of different traders.
You can choose between the popular MetaTrader 4 (MT4) 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.
Alvexo Review
In contrast to trading fees, non-trading ones accrue due to non-trading activities on a trading platform. Alvexo non-trading fees are minimal and typically won’t burn a digital hole in your account. As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty. Some Forex brokers offer their own custom trading platforms for order processing and research, but many provide order access through integrated trading and research programs.
Top Features
In addition to the plethora of indicators you get built-in the platforms, there is a decent selection of additional trading tools to improve your market analysis capabilities. However, I think they could improve by implementing Trading Central and Autochartist. These are excellent tools which you can get through some other brokers such as Forex.com. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
Special Offers for Customers
I don’t always want to switch on my laptop just for a quick glance at the markets. The app lets me keep the markets in my pocket at all time and take them with me wherever I go. As a regulated broker, Alvexo must abide by strict financial requirements that include regular internal auditing and external monthly monitoring by a certified public accountant. The company is a member of the Investor Compensation Fund (ICF) and is subject to maintaining minimum capital requirements.
Please ensure you fully understand the risks and take appropriate care to manage your exposure. The broker is a regulated and licensed operation under the jurisdiction of the Seychelles FSA and CySEC. The fact that it works under adequate security and corporate practice standards as dictated by these bodies makes it a secure and trustworthy platform.
Non-trading fees also present a cost to clients, therefore, it is important that they are as low as possible. Alvexo does not charge any download fees, or deposit and withdrawal fees but it does charge swap, inactivity, and transaction fees. As mentioned earlier in the previous section of this review, the type of account you hold is the main factor that determines how high your spread rates will be. It has been observed that Prime and Elite account holders incur the lowest spread charges, whereas the spreads for a Classic account holder are the greatest. If we take a look at the AUD/NZD currency pair, the spread is from 14.9 pips on a Classic account, but that figure is slashed to 6.4 pips on an Elite account. Trustworthy forex brokers do not operate without a license as being licensed by a regulatory body legitimizes their financial dealings – ensuring customers that they will not be exploited or scammed.
- Essentially, any trader using this platform has access to the most essential tools required for trading in today’s fast-paced markets.
- Examine the requirements and components of each one, and then select the one that best suits your abilities and goals.
- All Islamic account holders are obliged to close any open CFD position within 45 calendar days of opening it.
- The Gold account is listed as the most popular account type on the platform, with spreads from 2.2 pips and the same maximum leverage as the other account types.
- The multilingual support team is knowledgeable, friendly, and responsive, ensuring that clients receive timely assistance through various channels, including live chat, email, and phone support.
- The process of account opening at Alvexo is fairly simple and consists of some steps before a trading account gets active.
Along with this, the broker is also regulated by two financial commissions which make the platform safer and more secure for the clients. After studying Alvexo trading services from the above-mentioned standardized criteria, it was concluded that this broker is reliable and safe as it is a regulated firm. Moreover, the user interface of Alvexo is also easy-to-use with the advanced MT4 trading platform. Similarly, the broker is efficient enough to provide strong support to inexperienced traders through a training academy and other educational resources.
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For example, for the same instrument such as American Airlines Group stocks – your spread can be from 0.6, 0.35, or even 0.1 pips depending on whether you are a Classic, Gold, Prime, or Elite client. Traders on Alvexo are able to deposit funds using either of the four methods, namely debit cards, credit cards, e-wallets, and bank wire transfers. This is a fairly diverse set of options, though others like crypto and internet banking are not supported. For instance, only QIWI WALLET is supported among e-wallets; debit card and credit card options are limited to Visa Electron, Maestro, Cash-U, and V-pay; and only Visa, Mastercard, and AmEx are accepted.
I thought that the articles were in-depth and appreciated how they are covering a variety of markets with technical and fundamental analysis. You can utilise these market updates to keep tabs on global current affairs, market reactions, inspire potential trade opportunities and as part of your alvexo forex broker overall trading strategy. Alvexo have a fast, clean and convenient online trading platform that runs directly in most modern web browsers without the need to download any additional software. Whilst Alvexo welcomes clients from across the globe, they are unable to accept traders from the United States and some other countries where there are stringent regulations in place. If your country is not accepted, please feel free to look at our broker reviews for an alternative option.
This section of our Alvexo review will take a look at each of these trading instruments. To find out the exact withdrawal fees customers are recommended to contact the customer service team. The firm mentions that the withdrawal fee depends on the account type and trading instrument however no estimated percentage of these fees is given. The withdrawal fee may be high enough to affect the overall trading cost for the client. The Elite Vip account is the most costly account on the Alvexo trading service platform.
Market Awareness
- Transactions are executed by the highest PCI-Certified (currently Level-1 but subject to upgrade upon availability) service providers and servers located in SAS-70 certified data centres.
- Alvexo operates under the regulatory oversight of the Cyprus Securities and Exchange Commission (CySEC), holding a license (236/14) that was approved on March 6, 2014.
- The minimum deposit amount required to register an Alvexo Professional live trading account is $500 USD.
- Opening an account on Alvexo is the first step to trading on the Webtrader, and it is a very straightforward process involving steps we will now outline.
- For example, for the same instrument such as American Airlines Group stocks – your spread can be from 0.6, 0.35, or even 0.1 pips depending on whether you are a Classic, Gold, Prime, or Elite client.
However, Alvexo lacks multi-factor authorization for accessing customer accounts, and that’s a significant downside. However, the platform does have very friendly customer support agents, and there are a variety of regional contacts for traders from different locations. Furthermore, traders can also access customer care in a variety of languages, including German, Spanish, and Italian. Essentially, any trader using this platform has access to the most essential tools required for trading in today’s fast-paced markets.
Rollover/Swap Fees
This section is the main access point to all the available trading instruments, and it is where traders can place trades and get a preview of instrument price movements through the charts tab. If a trader leaves their account dormant for a considerable duration of time, this will result in a charge known as the inactivity fee. This fee covers all the necessary costs of maintaining the account and offering real-time market data. Alvexo charges a monthly inactivity fee of $10 for every subsequent month if a trader performs no trading activity on their account for at least 3 months.
Conversion fees apply to any transactions involving financial instruments denominated in currencies other than those listed on a trader’s account. The conversion cost comprises the exchange rate and a markup fee the broker receives from the liquidity providers, and such costs are usually specified per transaction. Commissions are another type of fee that derive from trading activity, and they are charged in proportion to the volume of the relevant trade.
Before trading with any of the brokers, potential clients should ensure they understand the risks and verify that the broker is licensed. On the mobile device, traders can see all the information, history, tools, features etc. which are used through Metatrader4 or Web Trader. This way you can use the Alvexo broker at any time, only internet connection is required. Alvexo’s WebTrader offers a faster, clearer and smarter way to trade via your web browser. Trade Now or try our FREE Demo Account (65.92% of retail CFD accounts lose money). Available across multiple-devices with built-in tools for a faster, more powerful trading experience.