Alfa Forex

Alfa Forex Information

Alfa Forex is a Russian brokerage company mainly focuses on forex trading. Spread is tight for the major EUR/USD from 1.4 pips, and can go very wide to 3200 pips for the exotic EUR/TRY.

Trades are executed on the world-recognized MetaTrader 5 platform to enhance customer experience. The broker also offers a series of analytical tools such as an economic calendar, calculator for traders to catch market trends efficiently. What's more, educational resources such as glossaries enable traders to develop fundamental knowledge about investment.

However, it's worth noting that the company's license by CBR is suspected to be fake clone, degrading its legitimacy and credibility significantly.

Pros and Cons

Is Alfa Forex Legit?

BP Prime is currently regulated by CBR (Central Bank of Russia) in Russia, with a license numbering at 045-14070-020000.

However, the license is suspected to be a fake clone, indicating that the broker might be pretending to be another reputable financial firm to conduct possible scam activities. You should be extremely wary about this.

Regulated Country	Regulator	Current Status	Regulated Entity	License Type	License No.
	CBR	Suspicious clone	Общество с ограниченной ответственностью «Альфа-Форекс»	Retail Forex License	045-14070-020000

What Can I Trade on Alfa Forex?

Alfa Forex claims to offer trading in 41 currency pairs, from the major EUR/USD, GBP/USD, to exotic pairs like USD/TRY, EUR/TRY, etc.

Account Type/Fees

Alfa Forex offers a demo account for traders to practice their trading strategies and get familiar with the company's platform before real trading. Nevertheless, there's limited information about live accounts. We can only get information about trading conditions such as minimum deposit, leverage from nowhere.

Live trading is transacted in CNY, USD, EUR and RUB.

The broker offers tight spread for the major currencies. For example, spread is from 1.4 pips for EUR/USD and 2.1 pips FOR GBP/USD. But be careful about the exotic pairs, spreads can be extremely wide and surge to 3000 pips for USD/TRY and 3200 pips for EUR/TRY.

One favourable condition is that the broker does not charge commissions for opening or maintanence of accounts.

Trading Platform

Alfa Forex only offers a the industry-leading MetaTrader 5 platform for clients to execute trades and catch up with market trends. The platform is renowned for its user-friendly interface, automatic execution and analytical charting tools.

You can access the platform through web, or download an app from Windows, iOS and Android devices.

Deposit and Withdrawal

Alfa Forex accepts payments in several methods, each with different deposit/withdrawal currencies, fees and processing time.

• Deposit:

• Withdrawal