The website and customer support is available in; English, French, Arabic, Spanish, German and Italian. For those who are looking for functionality, Alvexo web trader will not be sufficient. For those who value accessibility, then WebTrader is the platform to pick. Alvexo trading platforms come with limited capabilities and traders will need other platforms to analyze markets. The broker has four trading account types which are named Classic, Gold, Prime, and Elite. As we can see, the classic accounts come with huge spreads from 2.9 pips which is just ridiculous.
- Our opinion is that we usually never trust this type of indicator as we don’t know on what metrics its based.
- Cryptoasset investing is highly volatile and unregulated in some EU countries.
- Alvexo also offers referral bonuses that allow current traders to earn great rewards by referring a friend or relative to the broker.
- Alvexo has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with.
- We want to ensure you have all the knowledge necessary to use the Alvexo trading tools confidently, from depositing and withdrawing funds to executing trades.
- In this Alvexo review, we take a deeper look to help us determine whether you should invest with them or not.
If any of this has sparked your interest, we recommend giving it a go. In general, Alvexo is a broker that performs solidly all-round in terms of the trading experience on offer. The combination of educational materials, trading resources, and impeccable customer service gives you the impression that Alvexo is a broker that is very much customer-focused.
For instance, using CFDs, you use the Alvexo trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. The next step involves submitting identification documents for Alvexo account validation and making a deposit. Once completed, Alvexo users can download the trading platform of their choice. Alvexo does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.
Although the company does not charge a penny for making deposits and withdrawals, it collects fees from commissions and spreads across available tradable assets. The fees Alvexo charges are high compared to other brokers in the forex industry. Commission charges for trading equity CFDs may vary from $0.015 to $0.025 per share, whereas for other assets, the costs may be as high as $50 per lot.
Nuvo Unveils Nuscription: Revolutionizing Blockchain Trading
This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. To evaluate brokers, we test the accounts, trading tools and services provided.
Alvexo UAE User Experience
It is important to be aware of the potential for loss and to only invest what you can afford to lose. However, remember that you won’t be able to make trades on Alvexo until you have passed compliance, which may take several days, depending on your circumstances. It’s essential to complete the Alvexo KYC compliance process as soon as possible to avoid any delays in accessing the Alvexo platform’s features. It’s worth noting that the expiration date of the proof of address document may differ for different entities under Alvexo Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience.
To comply with the regulatory requirements, Alvexo must also maintain its clients’ deposits in a separate bank account that is protected from negative balances. Traders can deposit and withdraw money from Alvexo using a wide range of deposit and withdrawal options. However, if you would like to do so, you must log in to the trading account and select the deposit fund under the deposit activity section at the top of the dashboard.
Alvexo Forex Broker Review
Alvexo which is owned by HSN Capital Group Ltd was established in 2014. According to the official site, Alvexo specializes in global financial markets. It continues to state that traders can trade in currency and CFDs in a safe environment.
Trade Commodities CFDs
We do not present any investment advice or guarantees for the accuracy and reliability of the information. Moreover, the multi-lingual staff stands after their clients with constant support and service delivery that is enabled through the range of established global offices. Yes, Alvexo is a regulated CySEC broker registered under the VPR Safe Financial Group Ltd’s name, so European clients are fully secured and covered by the broker.
Account Types
Alvexo will appeal to traders looking to speculate on popular financial markets through an easy-to-use web-based platform and mobile app. It’s essential to note that the trading instruments offered under the Alvexo brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the Alvexo trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
You can sign up for a demo account to acquaint yourself with Alvexo platform. Our team has endeavored to break down the complex world of trading with Alvexo into easily digestible information in this Alvexo review. We want to ensure you have all the knowledge necessary to use the Alvexo trading tools confidently, from depositing and withdrawing funds to executing trades. I think that most traders like the MetaTraders for good reason, but the design of this platform is different from that of the MTs.
These are simple yet effective tools that make it an easy interface to use and optimize profit for even new traders in trading with an efficient platform. Alvexo customer support or compliance department can be easily accessed through their live chat function, which can be found right at the bottom of the screen. The official website also provides its customers with contact numbers of the different offices in the United Kingdom (UK), France, Romania, Spain, South Africa, Italy, and Sweden. While Alvexo presents itself as a broker with a wide range of trading instruments and services, its lower-than-average rating from experts at Traders Union raises concerns. The online platform further processes withdrawal requests around the clock, offering several withdrawal methods.
Types of Alvexo Trading Platforms
There is access to majors, minors and exotics with different pricing depending on your account type. When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Alvexo terms and conditions. It’s important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them. Opening their website for the first time might feel a bit overwhelming, but there is no way to simplify it due to the wide array of offerings. Alvexo offers an advanced platform and strong options.I recommend taking the time to thoroughly explore their services.
As an EU member, the regulation of the European Union like cross border rules applies to Alvexo also. Therefore Alvexo has to comply with the Financial instrument directives of the EU and Anti-money laundering directive 4th edition accordingly. In the alvexo forex trading 2023, it has found that only CySEC regulates the Alvexo trade system, but the company claims for more approvals, which cannot be authenticated. Vpr safe financial group is a registered company from Cyprus with proper authentication and regulation followed, which implies an Alvexo also.
Both arms provide negative balance protection, but the fund protection schemes and leverage rates somewhat vary. It has a rich research department with adequate educational materials, hosts various annual events, and offers clients the leading MetaTrader 4 trading platform in addition to its proprietary WebTrade. The education Alvexo offers is another highlighted feature since it aims to obtain long-term customer satisfaction through forex and CFD trading. As is very much the industry standard these days, Alvexo runs the highly popular MetaTrader 4 software.
Additionally, the spreads are high and educational materials are only available for a limited time. The broker is a market maker who makes additional profits from the losses of its traders by acting as a counterparty to the open positions. Spreads may vary based on the account type, but they are extremely competitive. The Classic account spreads start at 2.9 pips, and it falls to as low as 0.1 pips for Elite account holders. The spreads on indices like FTSE 100 start at 3.5 pips for Classic account and 0.88 pips for Elite account.