AlfaTrade Review 2018
AlfaTrade Video Review
AlfaTrade, operating mainly in the Eurozone region, reputed to be one of the best international online forex brokers in the world. They are based in London and are regulated and licensed by the UK’s Financial Conduct Authority (FCA) under the FCA registration number: 611346. Their core business is the provision of a safe and reliable trading environment for retail traders as well as institutional clients who want to trade in the spot forex market. There are several reasons why AlfaTrade is extremely popular with its traders. However, given the fact that there are very few ECN brokers around in the spot forex industry, the answer is obvious since AlfaTrade is an Electronic Communication Broker (ECN).
AlfaTrade Reliability – Is AlfaTrade a Scam?
For many people, trading the forex market is one of the best ways to earn extra income. With the advancement in computer technology and the internet, trading the spot forex market has become a simple but yet lucrative venture. Nevertheless, looking for an honest and reliable broker to trade work with remains a big challenge. Hence, it is not surprising that a reputable broker like AlfaTrade is highly sought after.
One of the main benefits of signing up with a broker like AlfaTrade is the fact that it is regulated by an internationally recognized financial regulatory body like the Financial Conduct Authority (FCA). As the main regulatory body looking after the state of Europe’s leading financial center, London, brokers who wants to be registered with the FCA needed to meet the stringent regulatory requirements imposed by the FCA.
Since AlfaTrade has already obtained its FCA registration number (FCA Number: 611346), traders know that AlfaTrade has already met the high standard required by the FCA. In addition, as a regulated broker under the FCA, traders of AlfaTrade are entitled to access the Financial Compensation Scheme (FSCS) should it ever be necessitated.
Another reason that traders are clamouring to sign up with AlfaTrade is the fact that it is an Electronic Communications Networks broker (ECN). ECN brokers are rare but popular among traders because the spread which they offer to their traders is probably the tightest spread around. Furthermore, ECN brokers do not earn from a widened spread but rather from a fixed commission for each transaction made by their traders. In other words, beside from a lower cost of transaction, ECN traders need not worry that there will be a conflict of interest emerging from their brokers trading against them.
Guardian Angel Service
Furthermore, to help their traders improve their trading skills further, AlfaTrade has provided them with a service called the “Guardian Angel”. With this service, AlfaTrade’s traders can monitor their trading activities in real time with the feedback provided by the Guardian Angel service. In fact, AlfaTrade is the first broker to ever provide this kind of service to traders.
Beginner traders are always hesitant as they usually have limited investment capital to start with. Given the fact that they are also prone to making mistakes during the initial stage of their trading careers, this makes their limited investment capital even more valuable. Hence, by relying on a monitoring service like AlfaTrade’s Guardian Angel, beginner traders can hope to leverage their trading capital to its maximum potential. While profitability is a good indication that one is on the right track, we always remember that having a reliable broker like AlfaTrade to with in the first place is crucial in helping us achieve the trading results that we want.
AlfaTrade is very aware that in today’s financial trading world, traders are more discerning and they are looking for a broker who can fulfill all their trading needs such as having a reliable platform, fast and efficient execution of trades, accurate real time pricing and depth of analytics. With all these in mind, AlfaTrade have provided their traders with a choice of several trading platforms that are designed to fulfil the varied needs of their traders. These include the popular and reliable industry standard platform MetaTrader 4 (MT4) which is packed with a full complement of technical trading tools as well as being capable of being customized with Expert Advisors (EAs).
Going with the flow of social trading development, AlfaTrade has also made a social trading platform available called Mirror Trader that will permit the lesser experienced traders to mimic their more experienced counterparts’ trading transactions. The mirror trading platform also allows traders to set their trading activities to automatic mode so no further intervention is required on the part of the trader.
And for those who wish to trade directly on the internet without having to download any software, AlfaTrade has also included a web based trading platform called the WebTrader. For traders wanting to trade while constantly on the move, they can also do so with their smartphones or mobile devices since AlfaTrade has made provisions to support mobile trading with the MT4Mobile trading app as well as making their website mobile friendly.
It should be noted that AlfaTrade is one of the very few brokers around that are willing to let non members view the trades of their social traders on a live basis. The main benefit of this is that traders can observe the right patterns to focus on with their analysis. To cut down the decision making time, AlfaTrade also provided a whole range of useful trading tools such as daily market analysis, an economic calendar and trading signals which traders can leverage to their benefit.
Following on from their objective of meeting all their traders’ needs, AlfaTrade has offered 3 types of trading accounts for traders to choose from. The most basic of these accounts is the “Standard” account which requires a minimum deposit of $500 to open. The second type of trading account is the “Premium” account. The minimum deposit requirement for this type of account is $2000. Lastly, the “Pro” account which requires a minimum deposit of $10,000 is designed for pro traders.
All the above-mentioned accounts allow the account holders to trade in spot forex and CFDs with a minimum size of 0.1 lot. As for the maximum leverage, they are capped at the ratio of 200:1.
Commission & Spreads
As for the cost of executing a trade, AlfaTrade takes pride in being able to offer their traders ultra tight spreads. The spreads offered might not be as low as that which some of the other brokers are advertising, although it should be noted that all of AlfaTrade’s spreads are realistic and reflect actual market conditions and are not manipulated in any way.
The spreads that are payable depend on the type of trading account which the trade holds. For Standard accounts, the spreads starts from 3 pips. Premium account holders get a slightly lower rate with the minimum spread starting from 2.3 pips. As for Pro account holders, the spreads which they pay starts from a minimum 1.7 pips.
Customer support service is available 24 hours per day from Monday to Friday. Available in 3 major languages such as English, German and Italian, those in need of assistance can contact the support team through email, live chat and the telephone.
As a FCA regulated broker, AlfaTrade’s traders can be assured of the legitimacy of its operation. Apart from the fact that AlfaTrade’s clients have their consumer rights protected with the force of the law, they are also entitled to compensation from the UK’s Financial Compensation Scheme (FSCS) if AlfaTrade runs into solvency problems.
- Choices of Trading Accounts
- FCA Regulated Broker
- Guardian Angel to monitor one trading performance
- No conflict of interest with this ECN Broker
- Social and Copy Trading is support with their Mirror Trader platform
- Free Daily Market Analysis and Trading Signals provided
AlfaTrade is indeed a top forex broker. They offer a comprehensive range of trading tools as well as educational resource which are geared towards making their clients even better traders.
|Regulated by||AFM, BaFin, CONSOB, FCA, FI, NBS|
|Headquarters Country||United Kingdom|
Trading Account Options
AlfaTrade Trading Features
|24 Hours Support||Yes|
|Support During Weekends||No|
Customer Support Languages
|Supported Trading Platforms||Mirror Trader, MT4|
|Guaranteed Stop Loss||Yes|
- 4.0Comprehensive Trading Tools ProvidedAmerigo Trevisani
- 5.0They have Social Trading capability as well.Ray Panetier
- 4.0They Have A Special Service Call The Guardian Angel Which Tracks Your Trading Performance In Real Time.Lucho Verdugo Olvera
- 5.0Authorized by the Financial Conduct AuthoritySenad Galić
- 4.0You Can Choose From One Of 3 Types Of Trading Accounts OfferedGustavo Ferreira Silva