AlfaTrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-06 16:27

Abstract：Founded in 2023, AlfaTrade is an unregulated broker registered in Saint Vincent and the Grenadines, claiming to offer trading on Currency, Stocks, Indices, Cryptos, and Commodities with leverage up to 1:1000 via a web-based trading platform. However, the minimum deposit requirement is as high as $5 000.

　　Note: AlfaTrade's official website: https://alfatraders.pro/ is currently inaccessible normal.

AlfaTradeReview Summary
Founded	2023
Registered Country/Region	Saint Vincent and the Grenadines
Regulation	Unregulated
Market Instruments	Currencies, Stocks, Indices, Cryptos, Commodities
Demo Account	✅
Leverage	Up to 1:1000
EUR/USD Spread	From 1.5 pips
Trading Platform	Web
Min Deposit	$5 000
Customer Support	Email: Support@alfatrading-markets.com

　　Founded in 2023, AlfaTrade is an unregulated broker registered in Saint Vincent and the Grenadines, claiming to offer trading on Currency, Stocks, Indices, Cryptos, and Commodities with leverage up to 1:1000 via a web-based trading platform. However, the minimum deposit requirement is as high as $5 000.

Pros and Cons

Pros	Cons
Provide demo accounts	Unregulated
Diverse market instruments	Blacklisted by the CNMV
	No reliable trading software
	Risky leverage ratios
	High minimum deposit requirements

Is AlfaTrade Legit?

　　AlfaTrade is completely unregulated. The brand of AlfaTrade differs from the domain it uses.

What Can I Trade on AlfaTrade?

　　AlfaTrade offers a variety of trading products including foreign exchange, stocks, indices, cryptocurrencies, and commodities.

Tradable Instruments	Supported
Currency	✔
Stocks	✔
Indices	✔
Crypto	✔
Commodities	✔

Account Type

　　AlfaTrade offers three different types of accounts and supports demo accounts.

Account Type	Minimum Deposit	Leverage	Withdrawal
Basic	$5 000	1:50	4 business days
Silver	$10 000	1:100	3 business days
Gold	$25 000	1:200	2 business days
Platinum	$10 0000	1:400	1 business day
Diamond	$1 000 000	1:1000	Within 12 hours

Leverage

　　AlfaTrade offers a maximum leverage of 1000:1 for Forex trading, which is significantly higher than the industry average. For stocks and indices, the leverage ratio is also set at 100:1, while cryptocurrencies have a lower leverage limit of 10:1. Gold trading with AlfaTrade allows for a leverage of up to 100:1. It's important to note that these high leverage ratios can amplify both profits and losses, making trading riskier.

AlfaTrade Spreads

　　AlfaTrade's spreads for major currency pairs are relatively high. Traders can expect a spread of 1.5 pips for EURUSD, 3.5 pips for GBPUSD, and 3.0 pips for USDJPY.

Broker	EURUSD Spread	GBPUSD Spread	USDJPY Spread
AlfaTrade	1.5	3.5	3.0
FXTM	0.4	0.7	0.7
FP Markets	1.0	1.2	1.2
XM	1.1	1.3	1.3

Trading Platform

　　AlfaTrade promotes its trading platform as an advanced web-based software, but in reality, it is quite generic. Many similar platforms offer only limited functionalities.