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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

4.6
/ 5

Alfa-Forex review

trusted
Updated on Oct 30, 2024
|
8 mins read

Overview

Alfa-Forex Broker is a well-established Russian-based online forex trading platform offering various financial instruments, including forex, CFDs, and cryptocurrencies. The company was founded in the year 2016. The...
See full overview for Alfa-Forex
Countries
Devices
Max insured
Yes
Our Verdict
4.6
/ 5
Commissions & Fees
4.9
/ 5
Deposit & Withdrawal
4.3
/ 5
Customer Support
4.7
/ 5
Account Opening
4
/ 5
Regulation & Safety
4.9
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • Regulated by the Central Bank of Russia, ensuring a high level of security for client funds.

  • Offers a wide range of assets, including forex currency pairs, commodities, indices, stocks, and cryptocurrencies.

  • Competitive spreads start from 0.1 pips.

  • Multiple trading platforms are available, including MT4, MT5, and Alfa-Forex Trader.

  • Customer support is available in multiple languages via email, phone, and in-person visits.

Cons

  • Not available for US clients.

  • A limited selection of account types to choose from.

  • No social trading or copy trading options available.

  • No bonuses or promotions are offered to clients

General details

Type of accounts
Unlimited Demo Accounts
Swap free accounts
Cent accounts
Trading platforms
METATRADER 5
Execution Model
STP
Deposit currency
USD
EUR
RUB
CHF
Regulatory complience
Deposit payment systems
Withdrawal payment systems
Support Languges
Russian
Autotrading
MT5 EA MQL.5 Signals
Contact details
[email protected] +44 (0)20 3800 0120

Customer reviews

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Accounts

Type of Trading Accounts for Alfa-Forex

Alfa-Forex offers a range of trading account types to cater to the needs of different traders. Here are the available account types:

  • Unlimited Demo Account: Alfa-Forex also offers an unlimited demo account for traders to practice and improve their trading skills without risking any real money. The demo account provides traders with access to all trading instruments and features of the live account. Traders can use the demo account unlimitedly and reset their account balance at any time. This feature is beneficial for beginner traders who want to gain experience and confidence in trading before opening a live account.
  • Standard Account: The Standard account is suitable for beginner and intermediate traders. It requires a minimum deposit of $100 and offers competitive spreads starting from 1.2 pips. Traders can access all trading instruments and use any trading strategy, including hedging and scalping.
  • ECN Account: The ECN account is suitable for advanced and professional traders. It requires a minimum deposit of $20,000 and offers tight spreads starting from 0 pips. Traders can access all trading instruments and use any trading strategy, including automated trading.
Metatrader 5 - Alfa Forex
Scalping
Hedging
Trading with expert advisers
Trading 24 hours a day
Trailing stop
Mailing the documents
Trading Platforms
METATRADER 5 MetaTrader 5 Mobile
Deposit currency
USD
EUR
RUB
Trading instruments
Forex
1:40
Number of currency pairs: 10
AUD
CAD
CHF
JPY
NZD
GBP
NOK
RUB
MXN
ZAR
Stop Out
85%
Minimum position size
0.01 units
Maximum position size
No limit
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
100%
Locked Margin Level
50%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on Alfa Forex trading platforms include:

  • Metals
  • Energies
Currencies
60

Frequently asked questions

Find the right answer to your question below.

Is Alfa-Forex a scam?

No, Alfa-Forex is not a scam. It is a legitimate forex broker with licenses from reputable regulatory bodies.

How to Open an Alfa-Forex Trading Account?

To open an Alfa-Forex trading account, visit their website and complete the registration form.

Can traders from the United States trade with Alfa-Forex?

Traders from the United States cannot trade with Alfa-Forex. Due to regulatory restrictions, the broker is not authorized to provide its services to clients based in the United States.

Is Alfa-Forex Affected By the Ban on Russia?

According to research as of March  2023,  it appears that the ban on Russian forex brokers has been lifted for four forex brokers in Russia, including Alfa-Forex, which is a licensed forex dealer in Russia. Therefore, Alfa-Forex is not currently affected by any ban on forex trading in Russia.

Alfa-Forex compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
Alfa-Forex
  • Free VPS hosting
  • Specialized trading accounts
  • 4.6
    / 5
  • 4.3
    / 5
  • N/A
  • N/A
  • 4.9
    / 5
  • N/A
  • N/A
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    / 5
  • CBR
  • Yes
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Alpari
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
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    / 5
  • 4.5
    / 5
  • $5
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    / 5
  • $0
  • $0
  • 4.5
    / 5
  • No
  • No
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Exness
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Free VPS hosting
  • 4.9
    / 5
  • 4.9
    / 5
  • $10
  • 1:2000
  • 4.8
    / 5
  • $0
  • $0
  • 4.6
    / 5
  • FCA, CYSEC
  • No
  • See review
RoboForex
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • 4.9
    / 5
  • 5
    / 5
  • $10
  • 1:2000
  • 4.8
    / 5
  • 1%
  • $0
  • 4.9
    / 5
  • No
  • Yes
  • See review
  • 3.9
    / 5
  • 3.6
    / 5
  • N/A
  • N/A
  • 3.9
    / 5
  • N/A
  • N/A
  • 4.8
    / 5
  • Yes
  • No
  • See review
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