- Licensed and Regulated by SCA, Dubai Chamber of Commerce and Industry and the Economic Department of Dubai
- Fast execution and liquidity
- Automated withdrawals of trading profits and secured funds deposits in segregated accounts
- Extremely high minimum deposit requirement of $5,000
- USA traders not accepted
- Difficult to open demo account
Broker in review: Alfa Financial
Established in 2010
Location: Dubai
Alfa Financial is a pioneer and global provider of online trading services, regulated by the Central Bank of United Arab Emirates. At Alfa Financial we ensure that our clients enjoy a one-to-one relationship focused on maximizing trading capabilities for successful investment. With our fixed spreads, standard leverage, low margin and dedicated customer support we are recognized for our integrity and credibility.
50+ CURRENCY PAIRS – MAJORS, CROSSES AND EXOTICS
24 HOURS A DAY. 5 DAYS A WEEK
LEVERAGE UP TO 1:100
TRADE THE MOST LIQUID MARKET IN THE WORLD
Account, Payments and Trading Conditions
- Advanced platforms and a custom-trading environment tailor-made for a diverse clientele.
- A fair and ethical trading environment for all clients regardless of their net capital worth, the size of their investment, or their account type.
- Licensed and Regulated by SCA, Dubai Chamber of Commerce and Industry and the Economic Department of Dubai since 1993.
- Fast execution and liquidity, automated withdrawals of trading profits and secured funds deposits in segregated accounts.
- Efficient client coverage 24/5.
- High leverage/ low margin requirements – offering traders leverage of up to 1:100.
We have always used cutting-edge technologies to help our clients to maximize their profit potential and execute their trades seamlessly. Our user-centric trading platforms complete with in-depth training for first-timers provide quick and easy access to the markets for retail investors and corporations.
Trading instuments: 50+ CURRENCY PAIRS – MAJORS, CROSSES AND EXOTICS
Demo account: yes. Potential customers are highly recommended to practice their trading skills with virtual money on AX1 Trader Demo, for at least a month, before starting to trade in a live account with real money. Each user gets virtual $25000 on account opening and this virtual money can be used for practicing for a period of 30 days.
Trading platforms: AX1Trader, MetaTrader 4
Web-based platform: not available. In order to trade with Alfa, you have to download the respective software. There is no other way to trade.
Minimum deposit: The broker requires an initial deposit of $5000 to open a live trading account after you have completely read, understood, and acknowledged how to use our trading platforms by using AX1 Trader Demo.
Live Trading accounts are usually set up within 1 business day, once all the forms are filled and submitted along with the supporting documents.
Payment options: wire transfer
Currency pairs: 50
Trade sizes start as low as 0.01 lots which are also known as a micro lot, they then go up in increments of 0.01 lots so the next trade would be 0.02 lots and then 0.03 lots. There wasn’t any information surrounding the maximum trade size, however, we would recommend not trading in sizes larger than 50 lots, as the bigger a trade becomes the harder it is for the markets or liquidity provider to execute the trade quickly and without any slippage.
| PRODUCT | SYMBOL | CONTRACT UNIT | CONTRACT SIZE | INSTRUMENT TYPE | INITIAL MARGIN | TICK SIZE | CONTRACT MONTH |
|---|---|---|---|---|---|---|---|
| EURUSD | EURUSD | Currency | 100000 | Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| GBPUSD | GBPUSD | Currency | 100000 | Currency | 1000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| AUDUSD | AUDUSD | Currency | 100000 | Exotic Currencies | 1000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| NZDUSD | NZDUSD | Currency | 100000 | Exotic Currencies | 1000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDCAD | USDCAD | Currency | 100000 | Currency | 1000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDCHF | USDCHF | Currency | 100000 | Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDJPY | USDJPY | Currency | 100000 | Currency | 1000 | 0.01 | Spot – T+2 – Max. 360 Days |
| AUDCAD | AUDCAD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| AUDCHF | AUDCHF | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| AUDJPY | AUDJPY | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.01 | Spot – T+2 – Max. 360 Days |
| AUDNZD | AUDNZD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| CADCHF | CADCHF | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| CADJPY | CADJPY | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.01 | Spot – T+2 – Max. 360 Days |
| CHFJPY | CHFJPY | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.01 | Spot – T+2 – Max. 360 Days |
| EURAUD | EURAUD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| EURCAD | EURCAD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| EURCHF | EURCHF | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| EURGBP | EURGBP | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| EURJPY | EURJPY | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.01 | Spot – T+2 – Max. 360 Days |
| EURNZD | EURNZD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| GBPAUD | GBPAUD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| GBPCAD | GBPCAD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| GBPCHF | GBPCHF | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| GBPJPY | GBPJPY | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.01 | Spot – T+2 – Max. 360 Days |
| GBPNZD | GBPNZD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| NZDCAD | NZDCAD | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| NZDCHF | NZDCHF | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| NZDJPY | NZDJPY | Cross-Currency | 100000 | Cross-Currency | 2000 | 0.01 | Spot – T+2 – Max. 360 Days |
| EURMXN | EURMXN | Cross-Currency | 100000 | Exotic Currencies | 4000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| EURTRY | EURTRY | Cross-Currency | 100000 | Exotic Currencies | 6000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDDKK | USDDKK | Currency | 100000 | Exotic Currencies | 4000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDINR100K | USDINR10 | Currency | 100000 | Exotic Currencies | 6000 | 0.001 | Spot – T+2 – Max. 360 Days |
| USDMXN | USDMXN | Currency | 100000 | Exotic Currencies | 4000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDNOK | USDNOK | Currency | 100000 | Exotic Currencies | 4000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDSEK | USDSEK | Currency | 100000 | Exotic Currencies | 4000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDSGD | USDSGD | Currency | 100000 | Exotic Currencies | 4000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDTRY | USDTRY | Currency | 100000 | Exotic Currencies | 6000 | 0.0001 | Spot – T+2 – Max. 360 Days |
| USDZAR | USDZAR | Currency | 100000 | Exotic Currencies | 4000 | 0.0001 | Spot – T+2 – Max. 360 Days |
Spread types: fixed
Spreads: 1 pip
Maximum leverage: 1:100
Commissions: $15 per round-trip trade
Customer support: phone, skype, email
Advantages of Trading with Alfa Financial Review
- Advanced platforms and a custom-trading environment tailor-made for a diverse clientele.
- A fair and ethical trading environment for all clients regardless of their net capital worth, the size of their investment, or their account type.
- Licensed and regulated by the Central Bank of the U.A.E., Dubai Chamber of Commerce and Industry and the Economic Department of Dubai since 1993.
- Fast execution and liquidity, automated withdrawals of trading profits and secured funds deposits in segregated accounts.
- Efficient client coverage 24/5.
- High leverage/ low margin requirements – offering traders leverage of up to 1:100.
How was the rating of Alfa Financial performed compared to other brokers?
This 2023 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Alfa Financial FX broker performance and features.
Overall our online Alfa Financial review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Alfa Financial or you find inaccurate details Alfa Financial broker review please get in touch with us and the changes will be applied.
Alfa Financial Details
