Pros
  • 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
Cons
  • 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.

Regulation: CENTRAL BANK OF UAE

Trading Conditions

Trading instruments: Forex, CFDs, Futures, Metals

Trading pairs: 50+

Maximum leverage up to 1:100

Fast execution and liquidity, automated withdrawals of trading profits and secured funds deposits in segregated accounts.

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.

Live Trading accounts are usually set up within 1 business day, once all the forms are filled and submitted along with the supporting documents.

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.

PRODUCTSYMBOLCONTRACT UNITCONTRACT SIZEINSTRUMENT TYPEINITIAL MARGINTICK SIZECONTRACT MONTH
EURUSDEURUSDCurrency100000Currency20000.0001Spot – T+2 – Max. 360 Days
GBPUSDGBPUSDCurrency100000Currency10000.0001Spot – T+2 – Max. 360 Days
AUDUSDAUDUSDCurrency100000Exotic Currencies10000.0001Spot – T+2 – Max. 360 Days
NZDUSDNZDUSDCurrency100000Exotic Currencies10000.0001Spot – T+2 – Max. 360 Days
USDCADUSDCADCurrency100000Currency10000.0001Spot – T+2 – Max. 360 Days
USDCHFUSDCHFCurrency100000Currency20000.0001Spot – T+2 – Max. 360 Days
USDJPYUSDJPYCurrency100000Currency10000.01Spot – T+2 – Max. 360 Days
AUDCADAUDCADCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
AUDCHFAUDCHFCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
AUDJPYAUDJPYCross-Currency100000Cross-Currency20000.01Spot – T+2 – Max. 360 Days
AUDNZDAUDNZDCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
CADCHFCADCHFCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
CADJPYCADJPYCross-Currency100000Cross-Currency20000.01Spot – T+2 – Max. 360 Days
CHFJPYCHFJPYCross-Currency100000Cross-Currency20000.01Spot – T+2 – Max. 360 Days
EURAUDEURAUDCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
EURCADEURCADCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
EURCHFEURCHFCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
EURGBPEURGBPCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
EURJPYEURJPYCross-Currency100000Cross-Currency20000.01Spot – T+2 – Max. 360 Days
EURNZDEURNZDCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
GBPAUDGBPAUDCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
GBPCADGBPCADCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
GBPCHFGBPCHFCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
GBPJPYGBPJPYCross-Currency100000Cross-Currency20000.01Spot – T+2 – Max. 360 Days
GBPNZDGBPNZDCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
NZDCADNZDCADCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
NZDCHFNZDCHFCross-Currency100000Cross-Currency20000.0001Spot – T+2 – Max. 360 Days
NZDJPYNZDJPYCross-Currency100000Cross-Currency20000.01Spot – T+2 – Max. 360 Days
EURMXNEURMXNCross-Currency100000Exotic Currencies40000.0001Spot – T+2 – Max. 360 Days
EURTRYEURTRYCross-Currency100000Exotic Currencies60000.0001Spot – T+2 – Max. 360 Days
USDDKKUSDDKKCurrency100000Exotic Currencies40000.0001Spot – T+2 – Max. 360 Days
USDINR100KUSDINR10Currency100000Exotic Currencies60000.001Spot – T+2 – Max. 360 Days
USDMXNUSDMXNCurrency100000Exotic Currencies40000.0001Spot – T+2 – Max. 360 Days
USDNOKUSDNOKCurrency100000Exotic Currencies40000.0001Spot – T+2 – Max. 360 Days
USDSEKUSDSEKCurrency100000Exotic Currencies40000.0001Spot – T+2 – Max. 360 Days
USDSGDUSDSGDCurrency100000Exotic Currencies40000.0001Spot – T+2 – Max. 360 Days
USDTRYUSDTRYCurrency100000Exotic Currencies60000.0001Spot – T+2 – Max. 360 Days
USDZARUSDZARCurrency100000Exotic Currencies40000.0001Spot – T+2 – Max. 360 Days

Customer support

There is a live chat option as well as customer service desk office hours, the ability to request a call back and email access.

Payment options

Payment methods: only bank wire transfer

Minimum deposit: The broker requires ridiculous initial deposit of $5000 to open a live trading account.  For this reason, we don’t recommend this brokerage for those new to the Fforex market.

How was the rating of Alfa Financial performed compared to other brokers? 

This 2024 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

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