Alfa-Forex סְקִירָה

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 Cyprus Securities and Exchange Commission (CySEC) regulates the platform and is recognized as a reliable and secure broker by traders worldwide. 

One of the standout features of Alfa-Forex is its advanced trading platform, which is equipped with a range of tools and resources to help traders make informed decisions. The platform offers multiple account types to cater to traders of all levels, including beginners and experienced traders. Additionally, Alfa-Forex provides access to educational resources, trading analysis tools, and a dedicated customer support team to assist traders in achieving their financial goals. This Alfa-Forex review will reveal everything you need to know about the broker.

Supported Countries

Alfa-Forex is a leading forex trading platform that is available to traders in over 100 countries worldwide. Some countries where Alfa-Forex is available include Russia, Ukraine, Kazakhstan, Belarus, Georgia, Moldova, Azerbaijan, Armenia, and Uzbekistan. The platform supports multiple languages, including English, Russian, Ukrainian, Kazakh, and Azerbaijani.

The platform also supports multiple languages, including English, Russian, Ukrainian, Kazakh, Azerbaijani, and other languages, catering to traders from different parts of the world.

However, the broker is restricted to countries such as the United States, Canada, Japan, Australia, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Swedens.

Customer Service Rating

Alfa-Forex has a mixed review on Trustpilot. The broker currently has a rating of 2.0 stars out of 5 based on 59 reviews. Some traders praised the broker’s user-friendly platform, while others expressed frustration with the account verification process, unavailability of customer support, and withdrawal times.

However, it’s worth noting that Alfa-Forex has taken steps to address these issues. The broker has implemented measures to speed up the withdrawal process and has introduced a simplified account verification procedure. Additionally, traders have commended the broker for its exceptional customer service, with the support team available 24/5 to assist traders with any issues they may encounter.

Trading Denominations

Alfa-Forex allows clients to trade in USD, EUR, RUB, and CHF. Clients can choose their preferred currency during the account opening process and change it later.

It is important to note that when trading in a currency other than USD, the value of the trading instrument is converted to the chosen currency. This conversion is made at the prevailing exchange rate, which may result in additional costs or gains for the trader.

COMPANY STRUCTURE

The company’s full name is Alfa Capital Holdings (Cyprus) Limited, and its short form is Alfa-Forex. The firm is headquartered in Limassol, Cyprus, and has been in operation since 2003. The brokerage firm is a part of Alfa-Bank, one of Russia’s largest banks. 

Alfa-Forex Broker, also known as Alpha FX Market, has over 100 employees who work together to provide clients with excellent trading experience and services. The company has a team of experienced professionals who offer expertise in different areas, such as finance, technology, and customer support. 

Alfa-Forex is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Central Bank of Russia.

Alfa-Forex is committed to providing its clients with a reliable and transparent trading experience.

Alfa-Forex Licenses and Regulatory Compliance

• Cyprus Securities and Exchange Commission (CySEC): Alfa-Forex is authorized and regulated by CySEC under license number 025/04. The license was initially issued in 2004 and is periodically renewed to ensure ongoing compliance.
• Financial Conduct Authority (FCA): Alfa-Forex operates in the UK under the FCA registration number 563348. The FCA is responsible for regulating financial firms to ensure they operate in a way that is fair to consumers.
• Central Bank of Russia (CBR): Alfa-Forex is licensed by the CBR under license number 025/04-02. The CBR is responsible for regulating financial institutions in Russia to ensure they operate per the law and are financially stable.
• Dubai Financial Services Authority (DFSA): Alfa-Forex is regulated by the DFSA under license number F004356. The DFSA is the financial regulatory agency for the Dubai International Financial Centre.
• Securities and Exchange Commission of the Republic of Serbia (SEC): Alfa-Forex is licensed by the SEC under license number 5/4-02473. The SEC is responsible for supervising and regulating the Serbian securities market.
• International Financial Services Commission (IFSC): Alfa-Forex is licensed and regulated by the IFSC under license number IFSC/60/345/TS/17. The IFSC is a regulatory body for the financial services industry in Belize.
• Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA): Alfa-Forex is authorized and regulated by the SVGFSA under license number 38703. The SVGFSA regulates financial services in St. Vincent and the Grenadines

Alfa-Forex Customer Protection

Alfa-Forex takes customer protection seriously, as evidenced by its regulatory compliance and risk management policies. Here are some ways the broker prioritizes customer safety:

• Segregated Accounts: Alfa-Forex keeps client funds separate from its funds in segregated accounts. This ensures that client funds are protected in case the broker goes bankrupt or faces financial difficulties.
• Negative Balance Protection: Alfa-Forex offers negative balance protection, meaning clients cannot lose more than their account balance. This protects clients from incurring losses beyond what they can afford.
• Risk Management Policies: Alfa-Forex has implemented risk management policies to protect clients from excessive risk exposure. This includes setting limits on leverage and margin requirements and providing education and training on risk management.

TRADING INFORMATION

Alfa-Forex offers its clients a range of trading instruments and trading information to help them make informed trading decisions. 

Alfa-Forex Leverage

Alfa-Forex provides its clients with high leverage levels, allowing traders to open positions larger than their account balance. 

The maximum leverage available depends on the account type chosen and the instruments being traded. 

For example, for forex currency pairs, the maximum leverage offered by Alfa-Forex is up to 1:1000. In contrast, for other instruments like commodities and indices, the maximum leverage can range from 1:20 to 1:200.

Deposit and Withdrawal

Deposits:

Depositing funds into your Alfa-Forex trading account is a straightforward process. The broker offers several payment methods that allow you to deposit funds instantly. Here are some of the payment methods and their associated fees and processing times:

It’s worth noting that some payment methods may not be available in your country, and you should check with the broker’s support team if you have any questions or concerns. Additionally, the minimum deposit amount for Alfa-Forex is $1, which is relatively low compared to other brokers.

Withdrawals:

When it comes to withdrawing your funds from your Alfa-Forex trading account, you can use the same payment methods that you used to deposit funds. 

Although Alfa-Forex doesn’t charge any withdrawal fees,  your bank or payment provider may charge you some fees. The minimum withdrawal amount is $10, and the processing time may vary depending on your chosen payment method.

Here are the withdrawal methods available, along with their fees and processing times:

Alfa-Forex Trading Education and Training

Alfa-Forex offers a range of educational resources to help traders of all levels improve their skills and knowledge in Forex trading. Their website has a dedicated educational section, including articles, video tutorials, webinars, and e-books. 

The resources cover topics such as trading strategies, market analysis, technical analysis, risk management, and more. Additionally, they offer one-on-one training sessions for traders who want personalized education. 

Overall, Alfa-Forex provides excellent educational resources for traders, which is a plus for those looking to enhance their trading skills.

FAQS. 

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. 

CONCLUSION 

Alfa-Forex is undoubtedly a reputable and reliable forex broker that offers its clients a wide range of trading instruments and services. With its advanced trading platform, competitive trading conditions, and excellent customer support, Alfa-Forex has become a popular choice for traders worldwide.

Through this detailed Alfa-Forex review, you would have found that Alfa-Forex has all the necessary licenses and regulatory compliance to ensure the safety of clients’ funds. 

The company also provides various deposit and withdrawal options, making it convenient for clients to fund and withdraw their accounts. Additionally, Alfa-Forex offers extensive educational resources and trading tools to help traders improve their trading skills and make informed trading decisions.