Pros
  • Licensed broker, meaning that all financial operations are protected by law
  • No limit on the minimum withdrawal amount
  • Good liquidity
Cons
  • No support service on weekends
  • Only for Russian Traders
  • No cent account for beginners
  • Not possible to withdraw funds to electronic wallets

Reviewed broker: Alfa-forex

Note: Alfa-forex switched to purely Russian audience. The broker’s website is available only in Russian Language.

Established in 2004

Operated by Alfa Group

Location: Russia

Regulation: CBR (Russia)

US traders: not accepted

Trading Conditions

Trading instruments: CFDs, Metals, Commodities, Indices, Stocks, Forex

Tradable currency pairs: 15 (rather small selection for an online forex broker this size)

Diversity of available instruments, favorable terms, and high reliability make Alfa-Forex attractive forex bank broker of several past years. Clients get clients real bank quotes, large trading volumes, high-quality dealing, and integration with other products of Alfa Group.

Trading on the Forex market with Alfa-Forex is simple as convenient trading platforms and their mobile versions, an investment management app, personal analytics, and exclusive service for wealthy clients make trading enjoyable and efficient. 

Turn the stormy dynamics of the global economy to your advantage and earn on currency exchange rate fluctuations.

  • More than 160 instruments available for trading
  • Ruble pairs spread is really low—that is, 0.012 rubles
  • Exclusive liquidity 24/5 on ruble pairs
  • Instant execution of trading orders
  • MetaTrader4 and MetaTrader5 trading platforms
  • No fees on deposits and withdrawals through internet bank Alfa-Click

Account types: standard

Demo practice account: not available (extremely unusual and disappointing) 

Minimum trade size: 0.01

Maximum leverage: 1:200

Average floating spreads: starting from 0.7 pips for EURUSD

Scalping: allowed

Hedging: allowed

Expert advisors: allowed

One-click trading: yes

Stop out level: 20%

Trading Platforms

Just imagine the number of functions in a versatile tool, such as a good Swiss Army knife. Now think about getting a similarly versatile tool for trading. Today, this is very simple because MetaTrader 4 provides you with such a versatile tool. It is one of the most reliable, convenient and popular trading terminals.

Payment options for deposit and withdrawal

Minimum deposit requirement: $1

Payment methods review: credit cards, wire transfer, online payment system of Alfa Bank “Alfa-click”

Automated trading: available via Zulutrade

Educational Resources and Customer Support

Educational material: in Analytics section, the broker only lists the currency exchange rates and doesn’t provide any actual analysis of the market. Education section has a very short definition of what forex is followed by “open an account” block.

Customer support: online chat, email, phone

How was the rating of Alfa-forex 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-forex FX broker performance and features. 

Overall our online Alfa-forex 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-forex or you find inaccurate details Alfa-forex broker review please get in touch with us and the changes will be applied. 

Alfa-forex Details

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