Alpha FX-Overview of Minimum Deposit, Leverage, Spreads

General Information

Alpha FX is allegedly a broker incorporated in Hong Kong that provides its clients with multi-trading platforms (MetaTrader5), leverage up to 1:300, variable spreads on over 100 tradable assets, and a choice of four different account types, as well as MAM service and 24×7 customer support service.

Market Instruments

Alpha FX advertises that it offers more than 100 trading instruments in financial markets, which include but are not limited to forex, CFDs, stocks and commodities.

Account Types

There are four live trading accounts offered by Alpha FX, apart from demo accounts, namely Jessie ECN, Chris STP, Jordan ECN and Bernie STP. Opening a Jessie ECN account requires the minimum initial deposit amount of $1,000, while the other three account types with the much lower minimum initial capital requirements of $500, $200 and $100 respectively.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Jessie ECN or Jordan ECN account can experience the maximum leverage as high as 1:200, while the Chris STP or Bernie STP account can enjoy the leverage of up to 1:300. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are influenced by what type of accounts traders are holding. Alpha FX reveals that clients on the Jessie ECN account can enjoy raw spreads with a commission of $8, the Chris STP account can experience spreads of 10 pips with no commission, the Jordan ECN account with raw spreads and a commission of $15, while the Bernie STP account with spreads of 20 pips and no commission. Also, different asset classes are equipped with different spreads and commissions. For example, the spread for forex is as low as 0.2 pips, while the spread for CFDs starts from 0.4 pips. The commissions for stocks start from $3, while commodities with a commission as low as $1.25.

Trading Platform Available

When it comes to trading platforms available,Alpha FX gives traders the worlds most widely-used MetaTrader5 platform, available on Windows, the Web, iOS and Android. MT5 is known as one of the most successful, efficient, and competent forex trading software. While with the MT5 Mobile app, trading can be done from anywhere and at any time through the right mobile terminals.

Deposit & Withdrawal

From the logos shown at the bottom of the home page on Alpha FX‘s official website, we found that this broker seems to accept payment methods including Skrill, Transfer Wise, PayPal, Bank Transfer and Visa, yet we have no way to confirm if these methods are all really available. The minimum deposit requirement is $100. According to the information displayed on its site, money can be withdrawn by automatic money withdrawal or by a wire transfer. Note that automatic money withdrawal is possible only using the same payment methods that the money has been deposited to the client’s account. As for the processing time of withdrawal requests, withdrawal with wire transfer can be processed within 2-7 working days, while a wire transfer to the clients banking account usually takes 2-3 working days.

Customer Support

Alpha FXs customer support can be reached by telephone: +16503050125, email: support@alphaforexmarkets.com or send messages online to get in touch. Besides, you can also follow this broker on some social media popular platforms like Facebook, Twitter, LinkedIn, YouTube, Instagram and Telegram. Company address: Office 2204,22/F 299QRC, 287-299 Queens Road Central, Hong Kong.