Established in 2014, Alvexo is headquartered in Cyprus. The broker is operating under VPR Safe Financial Group Limited and is regulated by Cyprus Securities Exchange Commission (CYSEC). The broker is committed to transparent services, accurate pricing, no re-quotes and cutting-edge performance. Unfortunately, the broker doesn’t accept clients from US at this moment.
The spreads vary for the account types. ECN accounts, for example, enjoy 0.1 pips on majors. Classic accounts designed for beginners see spreads starting from 3.3 pips on EUR/USD and USD/JPY.
Maximum leverage goes up to 400:1. On most commodities, however, the leverage is just 50:1. A standard lot equals 100,000 units of the traded currency pair; a mini lot equals 10,000 units; and a micro lot equals 1,000 units.
Registration to online account is immediate. Once you fill your details, you receive an email with your password and you are ready to go.
Alvexo offers over 140 currency pairs, indices, commodities and stocks. You can trade all of the available instruments, however to trade CFDs, you have to open ECN or Prime account. And the punch line is that the minimum deposit requirement for those accounts is $5,000 and $10,000, respectively. This rule is a bit stiff, you have to agree.
You have a choice of 3 different platforms with various advantages in each. Here are your choices reviewed below:
MetaTrader 4 (MT4) – one of the most popular trading interface today with complete set of technical indicators, advanced charting capabilities, various expert advisors, instant orders and multiple order execution.
WebTrader – flexible and comprehensive trading platform based online. There is no need to download or install anything on your computer. The platform is accessible from anywhere, anytime. Advantages include fast execution, one click trading, real time quotes and compatibility with social trading.
MobileTrader – for traders on the go, mobile version of the platform is incredibly useful. Compatible with iOS and Android, the platform features all the necessary tools and charts to make smart decisions.
Overall, Alvexo reviews its 4 major types of the real-money accounts, which are designed to fit every trader’s preferences and trading styles.
Demo Account – virtual cash is ready to be traded! Get your hands on some serious practice environment with the broker’s demo account. In fact, you can have both demo and live account at the same time to take advantage of the demo mode and test your strategies.
On a negative note, however, the demo account is time-limited to 1 month. It is time to change that, dear Alvexo owners, since most brokers today offer unlimited demo account. It’s not cool to force traders to go live if they are not ready yet, especially when your classic account (for beginners) require minimum deposit of $500!
Classic Account – best option for beginner traders who lack in experience. Minimum deposit requirement, however, is very high - $500. For a beginners account we expect the minimum deposit not over $200.
Gold Account – for experienced traders with minimum deposit of $2,500.
ECN Account – for dedicated professional traders with minimum deposit requirement of $5,000.
Prime Account – for advanced traders with advanced goals with minimum deposit requirement of $10,000.
Islamic Account – clients of Muslim faith are welcome to open the Islamic accounts without compromising Sharia law.
For those of us unsure which account to choose, the broker went one step ahead and created Account Generator widget on its website where you add some details about yourself and your financial preferences and, boom, you have an account suggested for you!
Deposits and withdrawals to the broker are processed by credit/debit cards, QIWI WALLET or wire transfer. During Alvexo review, the payment options definitely need some improvement. Where is Paypal and Skrill? Traders like a simple live, so make it so! Withdrawals take a minimum of 3-5 business days upon request approval.
Customer representatives are there to tackle your issues and questions with around the clock support in English and French. You have a selection of phone numbers to call to, email address and online chat.