| Forex broker | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 1970 |
| Head Office | г. Moscow, Masha Poryvaeva St., 7, p. 1, bld. 1 |
| Company owner | Alfa-Forex LLC |
| Types of support | [email protected]107078, Moscow, Masha Poryvaeva St., 7, bld. 1Live ChatHelp CenterFeedback form on the siteVkontakteTelegramWhatsApp |
| Phone Support | +7 (499) 215-79-79Mon. - Fri: 7:00 - 23:00 MSC 8 (800) 100-62-02The call is free +7 (495) 215-55-46Mon. - Fri: 7:00 - 23:00 MSC |
| Languages | Russian |
| Terminals | MetaTrader 5 (PC, Web, Mobile) |
| Brokerage commission | All commissions are embedded in the spread (the difference between buying and selling) and Swaps |
| Lot size | From 0.01 |
| Leverage | Until 1:40For investors recognized as qualified Until 1:49Leverage, at which there is a forced closing of positions (stop out) |
| Spreads | From 1.2 points |
| Free demo account | |
| Adjustable | Yes |
| Regulators | CENTRAL BANK OF RUSSIA |
| Licenses | Licensed Central Bank of Russia № 045-14070-020000 dated 20.12.2018 (Active) |
| Types of accounts | With and without netting on open positions |
| Margin call / Stop out | Stop out 85% |
| Peculiarities of trade | Safe Forex trading with a licensed Forex dealer |
| Order execution | Instant Execution (precise execution), Market Execution (at market price), Stop Orders, Limit Orders, Take Profit Orders, Trailing stop order (trailing stop), Exchange Execution |
| Methods of replenishment | Wire transfer, Bank card (Visa/MC/MIR), Alpha-Click |
| Withdrawal methods | Wire transfer |
| Number of assets | 34 |
| Types of assets | Currency pairsEUR/USD, GBP/USD, USD/JPY, USD/CHF, etc. |
| Account Currencies | RUB, EUR, USD |
| Liquidity providers | JOINT STOCK COMPANY "ALFA BANK", Alfa Capital Holdings (Cyprus) Limited |
| Mobile apps | |
| Weekend trading | No |
| Tournaments/competitions | No |
| Trader training | Webinars, market analyses |
| Contract Difference Commission | No |
| Swaps | Yes |
| PAMM trading | No |
| Analytics | Daily market reviews based on information from authoritative publications, Reuters and Bloomberg news agencies, official portals of Russian and foreign government institutions. Economic calendar, calculator and currency rates |
| Margin trading | Even more opportunities for substantial income |
| Affiliate Program | RegistrationAdditional income from attracting traders to the platform |
| Advantages | Good speed of opening and closing transactions (even telephone dealing is possible) No minimum deposit limits Safe Withdrawal Individual floating spread for each currency pair No commissions for opening and closing transactions Round-the-clock service from 00:00 Mon. to 23:55 Fri. (by Moscow time) |
| Disadvantages | Trading only currency pairs No cent, PAMM or ECN accounts Long wait for deposit/withdrawal of funds |
| Company requisites | Legal name: Limited Liability Company "AlfaForex Legal address: 20 Bolshoi Balkansky pereulok, bld. 20, bld. 1, Moscow, 129090. 1 TIN: 7708294216 CAT: 770801001 OGRN: 1167746614947 |
| Trading robots | Robots are allowed to trade |
| Date of update | April 4, 2024 |
| Overall assessment | 9.3/10 |
Alfa-Forex is this a scam? Review and Customers Reviews
Contents
On the Russian market Alfa-Forex is one of the most powerful forex brokersoffering clients favorable conditions for online trading. The connection with Alfa-Bank’s assets excludes any risks in terms of fraud from the brokerage company. Alfa-Forex is directly related to this credit organization. The fact is that Alfa Bank – is the sole founder of Alfa-Forex. Traders’ funds are kept in nominal accounts opened with this bank.
The company performs the activity of a forex dealer in over-the-counter settlement forward contracts. The broker assures that Internet trading on its platform gives an opportunity to receive stable earnings from fluctuations in exchange rates. But it is necessary to understand whether Alfa-Forex is a scam and a swindler, which is not worth messing with or it is a conscientious company. Let’s deal with these questions in our review.
Terms of trading with Alfa-Forex
This broker started working in 2016, which means it is not a newcomer to the market. In March 2018, Alfa-Forex Cypriot company announced that it had stopped serving Russians in order to obtain a permit to operate in Russia in the future. The company had to apply for an official license to the Central Bank of the Russian Federation. And in December 2018, the broker received a permit to operate as a forex dealer.
Now a subsidiary of Alfa-Bank is considered a legal member of the AFD – the Association of Forex Dealers. This is a self-regulating financial company that unites all the Forex organizations operating on the Russian market. Alfa-Bank is a part of banking group, the parent structure of which is ABH Holdings S.A. It is one of the largest investment holdings in Europe and CIS countries. Its history dates back to 1990. Professional development, attention to business ethics and customer orientation are important for this group. Therefore, working on the platform alfaforex.ruYou don’t have to worry about safety and quality of service.
A Forex dealer offers two types of trading accounts:
- account with netting – an agreement providing for agreed and reciprocal offsetting of counterparties’ obligations;
- account with no netting on open positions.
Alfa-Forex works according to the highest industry standards and offers users professional support and up-to-date analytics. This broker is distinguished by belonging to a brand with an impeccable business reputation, tight spreads and Russian licensing. One of the main directions of its development strategy is the improvement of products and services. And when the client has a question about the minimum deposit in rubles, the company declares the absence of any restrictions. The trading conditions here are as follows:
- trading instruments – 29 currency pairs (the range can be called limited, but it can meet the needs of most Forex traders);
- account maintenance in 3 currencies – RUB, USD and EUR;
- The minimum transaction amount is 0.01 lots (1000 base currency units);
- spreads from 1.7 pips;
- moderate leverage – 1:40 for investors recognized as qualified and 1:49 – leverage, at which there is a forced closure of positions (stop out);
- high stop out – 85% (if the trade will bring a material loss in excess of 15% of the amount invested in the opening of the position, it will close immediately).
As you can see, the conditions of Alfa-Forex cannot be called strong. But this is due to the requirements of the regulator – the Central Bank of Russia. Here you can trade only currency pairs. There is no cent and ECN-accounts. Unfortunately, there is no PAMM-accounts. Clients of this financial company cannot open them due to legal restrictions. Among the advantages of working with Alfa-Forex are:
- Good speed of opening and closing transactions (even telephone dealing is possible);
- No minimum deposit limits;
- safe and fast withdrawal of funds;
- individual floating spread for each currency pair;
- No commissions for opening and closing transactions;
- 24-hour service from 02:00 Mon. to 23:55 Fri. (on MSC).
The clients of this forex dealer can be individuals, but not individual entrepreneurs. It is important that the user has full legal capacity and is a citizen of the Russian Federation. On the site alfaforex.ru presents financial analytics. Here you can see the exchange rates of the Bank of Russia and Forex currencies, as well as market reviews. Information from sources whose reliability is beyond doubt is processed by the analytical department. The information is taken from authoritative publications, Reuters and Bloomberg news agencies, from official portals of Russian and foreign state institutions.
The “Analytics” section also includes an economic calendar. It covers real-time economic events and indicators from all over the world. It is published for information purposes only. It means that information from this calendar cannot be used when making trading decisions.
Alfa-Forex offers training as well. Beginner traders can participate in webinars, read market analyses and practice in their personal accounts on a demo account (Forex Trading Training). Over the past three months a series of webinars on creating trading strategies has been published. All parts can be viewed in the “Analytics” section. Also on the broker’s information portal there is a section “Market review”, where the current events affecting the market are collected.
Platform alfaforex.ru
Trading operations are performed through the free MetaTrader 5 terminal. This is a reliable platform where you can work in the Forex market in a single convenient environment. It has access to online quotes and interactive charts. Using this trading software, it is possible to conduct the analysis of quote charts, copy deals of other exchange players and use algorithmic trading programs. Advantages of MetaTrader 5:
- unified environment and powerful MQL5 language;
- 82 analytical tools – graphical objects and oscillators;
- more than 30 charts of currency pairs;
- Free database of technical indicators;
- timeframes from 1 minute to 30 days;
- support for all types of orders.
On the information portal alfaforex.ru there is a login to MT-Web. MetaTrader 5 allows you to do internet trading without an application. For trading in the forex market it is enough to have access to the Internet. Access to it must be stable, uninterrupted. The company’s website also has free applications for iOS and Android mobile devices. This allows trading currency pairs from anywhere in the world, at any time. Alfa-Forex clients can install trading software on their smartphones or tablets and trade 24 hours a day. Mobile versions also offer the most popular analytical tools, interactive charts and a full range of orders.
The world’s most popular trading terminal, MetaTrader, fits in the palm of your hand because you can take it everywhere you go. With it you can easily monitor your trading account, buy and sell financial instruments in 1 click!
Broker quotes
The liquidity provider of the forex dealer is two companies:
- Alfa Capital Holdings (Cyprus) Limited;
- JOINT-STOCK COMPANY “ALFA BANK”.
The first quotation provider is registered under the laws of the Republic of Cyprus under registration number 78416. The second quotation provider is located in Russia, in Moscow. The information coming from them helps compare asset prices. The current market quote is compared with a price/rate source that has analogues in the Russian and/or foreign exchange market. During the process of online trading it is important to note that during the night time from 23:55 to 01:30 Moscow time the price fluctuations of currency pairs can be absent. This is due to the fact that during this period of time the liquidity on the market of exchange-traded assets is limited.
Alfa Forex Demo Account
A demo account allows beginners to learn the basics of trading. It can be obtained only after completing the registration procedure on alfaforex.ru. It can be renewed an unlimited number of times. But if a client will not use a demo account for 90 days in a row, it will be closed automatically.
Mobile application
By installing the MetaTrader 5 for iOS or Android application on your tablet or smartphone, you can participate in trading. Thus, you will be able to keep abreast of the financial market and perform trading operations whenever it is convenient for you. The trading platform will always be with you! Download the application from the App Store or Google Play directly from the broker’s website. This will give you these opportunities:
- Internet commerce from anywhere in the world;
- round-the-clock trading – in a cafe, at home, on the road;
- investing morning, noon and night;
- high duration of operation on all exchange-traded asset markets;
- convenient PUSH-notifications.
With a mobile trading platform, you can use the most popular features and tools to make trades at any time. Work will progress even more efficiently than on the trading software with a standard interface. Use the tools of technical analysis, work with charts, open orders of all types, and view quotes in real time. With the mobile terminal all this is possible!
Bonuses at Alfa Forex
The company does not hold any promotions or offer bonuses to clients due to legal restrictions. Regular clients of Alfa-Forex can only hope that one day their favorite financial company will be able to make interesting bonus offers.
Affiliate Program
This program allows you to receive agent commission without having to trade on the Forex market. The company offers its partners unlimited opportunities to monetize their traffic. Here you can ensure a stable commission income. To do this, you need to register in your personal cabinet, log in and read the terms of the agency agreement. Then you will receive a unique link. Now you can attract clients, manage the number of transactions and receive remuneration. Advantages of the agent program:
- quality promotional materials;
- stable commission income, with no limits on size;
- reliability of payments from the dealer;
- No limits on the number of clients and transactions.
The agency fee is formed as % of the dealer’s commission on clients’ trading operations. Alfa-Forex evokes high confidence among wealthy investors. And it positively affects the volumes of trading operations, and the percentage of conversion of the partners’ traffic.
Deposit and withdrawal
Alfa-Forex offers to replenish the deposit via bank transfer (methods of bank transfer execution: Internet Banking, mobile bank, at the company’s branch). Deposits can be made in Russian rubles, dollars or euros. Funding the account at Alfa forex takes 1-2 working days, which is quite a long time. It is a pity that it is not possible to deposit funds to the trading account via electronic payment systems. It is also possible to withdraw money by bank transfer to the account in Alfa-Bank or other credit institution.
Complaints against Alfa-Forex
This broker is famous for its good opening and closing speed. And there is practically no slippage. But sometimes the connection with the trading software is lost. Many good things are written about Alfa-Forex, but usually without any specifics. There is little negativity. Having studied the reviews, we noticed that many traders consider Alfa-Forex to be a reliable company. There are few complaints, but still they are there. Basically, exchange players are dissatisfied with the long waiting period when depositing to the account and withdrawing funds from it.
There is no commission for opening or closing trades. But, judging by recent reviews of the broker’s activity, it is embedded in the spread. The minimum indicator is on average 1.2 points, and the maximum – 320. The Russian broker appeared at the end of 2018. But many are convinced that it is not a newcomer, but their old acquaintance Alfa-Forex (now called Alfa Capital), which has returned to the Russian market. However, in a year of operation of the company, there are almost no complaints about the malfunctioning of the trading software, execution of orders, non-payment of earnings and spread widening.
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Broker regulator
Alfa-Forex LLC is a licensed brokerage company, licensed by the Central Bank of Russia on December 20, 2018. The broker is included in the register of licensed forex dealers of the Bank of Russia and is a member of the SRO AFD “Association of forex dealers”. That is, this financial company operates legally, legally provides services in the territory of the Russian Federation.
- Check the perpetual license of a professional participant of the securities market to carry out the activities of a forex dealer №045-14070-020000, issued to Alfa-Forex by the Bank of Russia on 20.12.2018 (See);
- Check the certificate of SRO membership in AFD dated 24.12.2018. (Alfa-Forex LLC, No. 009) (See);
- Read the “User Agreement” on alfaforex.ru (See).
User Agreement alfaforex.ru
The “Agreement” of Alfa-Forex contains information about the company itself, general provisions, rights and obligations of the broker with users. The client can terminate the contract unilaterally, request copies of documents from the company representatives, withdraw funds from the special nominal account, etc. But the obligations should not be forgotten either. The trader must fill in the client questionnaire and other documents required of him by Alfa-Forex under the contract. And this cannot be done by third parties without the consent of the company itself:
A forex dealer may refuse to execute a client’s request if the client does not have a sufficient amount on the deposit. He may also reject the request to withdraw funds from the account. And he has the right to do this without explaining the reasons:
The “Agreement” specifies the terms of service, information on fees and tariffs. It is said that the client himself chooses the currency for online trading:
Also here we can see the order of the contract conclusion, the terms of quotations, terms of reporting to the traders. And the ways the client can contact the company’s representatives:
Before you start working with Alfa-Forex LLC, familiarize yourself with the risks associated with the conclusion, performance and termination of obligations under the framework agreement and individual contracts. In this way the broker will know that you are aware of all the risks involved in online trading.
Is Alfa-Forex a scam?
Alfa-Forex Although it works on the stock market for only 1 year, but it has already proved its reliability. Bank liquidity for trading instruments, market execution of transactions, popular trading software, convenient service, availability of a license for financial activity – all this testifies to the legality of the broker. Alfa-Forex LLC is part of a banking group that has access to the interbank market. But still warns exchange players about the possible expansion on the background of significant news and pronounced trends. There are no limitations on the trading account amount, which is very convenient for the novice traders. It is enough to have on deposit the sum which is enough for opening a position of the minimum volume (0.01 lot).
In addition, there is MetaTrader Market, which offers a universal selection of indicators and scripts. Trading robots relieve users from such routine work as analyzing quotes according to set parameters. They are able to conduct any number of trading operations according to a set algorithm. Also Alfa-Forex offers training, news, analytics and economic calendar. A fraudulent office would not try so hard to lure clients to their site. This broker, even though it hasn’t been on the Russian market for long, is clearly not a scam or a scam.
Conclusion
To summarize, it can be said that Alfa-Forex offers a convenient and high-quality service. Users deal with narrow spreads and do not pay any commissions. The company’s activity is rampant with the Central Bank of Russia, the broker has the appropriate license. There is a small selection of trading instruments on the site. There are no cent, PAMM and ECN accounts. But still it is a reliable broker with a good history! Leave your comments about Alfa-Forex activity, help us to evaluate the quality of this broker more accurately.
Reviews
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Feedback approved for publication Rate your review 0-11C - stability
Alfa forex dealer objectively refers to a good stable office. I have been trading with him for 2 years and I have no complaints. C-stability. The TU have not changed, the quality of service too. They even added 6 currency pairs since March (3 with Chinese, 3 with Turkish) and introduced online registration… Read more
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Feedback approved for publication Rate your review 000Normal broker
Many defend alpha forex, but I do not see anything particularly outstanding here. Well, really, an ordinary broker, through which you can trade forex. The TU are better, yes, but are they the best? For example from the spreads on the ruble pairs at night, I’m quietly giggling and I don’t know if anyone… Read more
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Feedback approved for publication Rate your review 1+10Find better options, make suggestions)
If you want to work with a reliable dealer with optimum conditions, you have to go to Alfa-Forex. The company’s main goal is to provide the best conditions for the clients and their clients with the best conditions. There is also a demo, but it is a dabble. As for the analytics, especially the online… Read more
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Feedback approved for publication Rate your review 000Very satisfied
I recently started trading forex and I chose the broker Alfa forex. The conditions are loyal to beginners: you can deposit any amount, and in three currencies. The order opens from 0,01 lot, it is cool. Inexperienced specialists do not train much, but there is a market analysis by a great analyst twice… Read more
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Feedback approved for publication Rate your review 000Despite the crisis and sanctions
In Alfa-Forex, everything is back on track despite the crisis and sanctions. It seems that the domestic forex dealer does not care about anything! They have written here about gaps and huge spreads on the ruble, and now everything is fine here as well. The conclusion – who wants to trade steadily, earn… Read more
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Feedback approved for publication Rate your review 000I recently traded with Alpha Forex
I didn’t have time to get a qualification, but for certified non-qualified people the conditions here are great. I can start with any deposit, and this is valuable because I have a lot of chances to drain the deposit (I look at things realistically). I can open accounts in different currencies and see… Read more
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Feedback approved for publication Rate your review 000Thank you to alpha-forex broker for your human approach
During the busiest period, they answered questions, answered the phone, and reported all the changes on the website and in the group. The currency spreads were very tight, and the gaps between sessions were huge. I have been able to withdraw a good profit from the ruble the other day, but I was able… Read more
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Feedback approved for publication Rate your review 000Alpha Forex is pleased that they work stably.
I was already afraid that forex would be shut down at the state level. They even have not changed their conditions, the deposit requirements have not increased and the minimum deal size has remained at 0,01. I really need such an island of stability now. You get neurotic when you are waiting for the… Read more
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Feedback approved for publication Rate your review 000For all this a solid 5
As a broker for forex out of the minimum remaining 🙁 alpha forex is close to ideal. Thanks for my qualification status, it will help me in other areas as well. About the broker: it gives me a normal trade. And by the way the only one so far who turned FACE to the trader. In December because of the trading… Read more
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Rate your review 0-1-1scam
I have been testing this company for several months. The result is a scam on traders, especially beginners. The chart is late. They redraw the chart too late, they really work for the plum. I had a lot to compare them with when I was working with them. There is very little sense in writing about this… Read more
Positive- No
Minuses- scammers
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Rate your review 0+10I also recommend trading with alpha forex
I also recommend trading with alpha forex. The broker is subject to the laws of the Russian Federation, that is why more tools and higher leverage are unfortunately not possible. But the broker really offers the best conditions – you can deposit as much as you can, start trading from 0,01 lot, plus very… Read more
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Rate your review 000Three months ago I had to leave...
Three months ago I had to leave my broker and switch to Alfa forex. The good thing is that here there are minimum requirements for trading, it brightens up the restrictions of the regulator a bit. The money can be credited to the account really quickly, but for this I had to get an Alfa Bank card. I… Read more
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Rate your review 000I think it smells like kerosene, and...
I think it smells like kerosene, and the Central Bank has decided to eliminate all offshore forex brokers. Therefore I advise everyone who has not yet switched to a Russian broker to do so now. The optimal broker among them is Alfa-Forex; this is objective. Minimum depo, transaction volume from 0.01… Read more
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Rate your review 00I don't recommend scalping through Alpha! There...
I don’t recommend scalping through Alpha! There is no effect at all. I agree, their conditions are normal in the short and medium term, but you can’t normally swing a deposit. I personally for scalping I use an offshore broker, while in Alpha I place mid-term positions. Analysts will help you.
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Rate your review 00I have a good brokerage company, maybe...
I have a good brokerage company, maybe even the best of all the licensed ones. They have a lot of handy features: demo account and training for beginners, the website is very handy and the CD is well organized (by the way, you can do currency conversion in it), accounts in 3 currencies, MT5 platform… Read more
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Rate your review 000I traded forex with Alfa forex almost...
I traded forex with Alfa forex almost as soon as it got its license. At first it was not very good, a lot of failures and glitches, and the support screwed up, to put it bluntly. I would not say that they were right, but now all drawbacks have been fixed and all bottlenecks have been eliminated. We have… Read more
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Rate your review 000I have not always had it smooth...
I have not always had it smooth with Alfa forex, but now I want to apologize to Sergey from technical support. Yes, indeed, it was not you who steamed me, I counted incorrectly myself. I found my mistake and apologize. I am sure that they think that I am a freak, but I still think that the support should… Read more
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Rate your review 000and how did you punish?)))...
and how did you punish?)))
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Rate your review 000I am a client of Alfa Bank
I am a client of Alfa Bank, so I ventured into forex through it as well. Of course I have nothing to compare it with, because I have not changed dealer since 19 year. For me the most important thing is safety and that in case of emergency I can find the ends. In this respect everything is very stable… Read more
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Rate your review 000As a forex broker, Alfa-Forex suits me...
As a forex broker, Alfa-Forex suits me fine. I would especially like to mention the analytics, which I use all the time. The analyst there is very smart. I am glad that every day they give me the market analysis for the morning and for the day. I have been trading mostly intraday and have been “rocking” my depo so it is just a present for me. I also got the web series about trading strategies but it is not very actual yet. I think they promise to do one for intraday traders as well. I`m waiting!
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Rate your review 0-10Back in the winter I decided to...
Back in the winter I decided to try trading through Alfa-Forex. I thought that since it was part of a big bank, everything should be perfect, but no way.
The service was simply disgusting. The adventures started with the fact that I had to have an Alfa Bank account in order to trade. Either stomp into… Read more
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Rate your review 000I've been in forex for a long...
I’ve been in forex for a long time. For exactly five years. Alfa Forex is my first and only broker. The trading conditions and financial conditions are of high quality. They do not prevent me from trading. In short I vote for Alfa forex for trading.
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Rate your review 0-10It's good that alfa forex has finished...
It’s good that alfa forex has finished their pamm system. I’m an investor here since the year 14, I think, when their pamm systems first appeared. I don’t buy them here, I don’t have any commission from them. I don’t think that they have any relation to their clients, but I think that their profitability… Read more
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Rate your review 000I use Metac on my computer, and...
I use Metac on my computer, and for hourly control of investments I use the alpha forex app on android. Good functionality – rates, pams, currency conversions. Everything I need is at my fingertips and works stably.
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Rate your review 000Do not respond in substance to my...
Do not respond in substance to my ticket 108265. Closed all positions not on margin call (occurs when the level is less than 20%). The level was more than 30% .
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Rate your review 0+10A good indicator of a broker's decency...
A good indicator of a broker’s decency is his reaction to claims. My illegally closed position was acknowledged as an error (due to apparent non-market) and it was restored. It took several hours to review the claim although initially they warned me about 3 days. I have never seen such speed, honesty… Read more
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Rate your review 000I work with alpha solely on the...
I work with alpha solely on the topic of currency conversion. I am involved in foreign trade and in order not to lose on sharp fluctuations in the price of goods I need to hedge, that’s why I buy currency in alpha – the spread is close to the market, no markups, it suits me fine.
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Rate your review 000The only thing that attracted me is...
The only thing that attracted me is the pamm-accounts) I am not able to trade myself and I do not want to. I invest from time to time in different accounts, of course it comes out differently, not always there is an income)) but in general I have small amounts stably. I recommend it! I do not need any… Read more
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Rate your review 000I don't understand why the rating is...
I don’t understand why the rating is so low? All the conditions are optimal for clients. And about the minimum deposit no words – $1. And it works for a long time and is known! In my opinion this is one of the best brokers in the market.
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