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ALFATrade

AlfaTrade | 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
Founded2023
Registered Country/RegionSaint Vincent and the Grenadines
RegulationUnregulated
Market InstrumentsCurrencies, Stocks, Indices, Cryptos, Commodities
Demo Account✅
LeverageUp to 1:1000
EUR/USD SpreadFrom 1.5 pips
Trading PlatformWeb
Min Deposit$5 000
Customer SupportEmail: 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 accountsUnregulated
Diverse market instrumentsBlacklisted 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.

Is AlfaTrade Legit?

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 TypeMinimum DepositLeverageWithdrawal
Basic$5 0001:504 business days
Silver$10 0001:1003 business days
Gold$25 0001:2002 business days
Platinum$10 00001:4001 business day
Diamond$1 000 0001:1000Within 12 hours
Account Type

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.

BrokerEURUSD SpreadGBPUSD SpreadUSDJPY Spread
AlfaTrade1.53.53.0
FXTM0.40.70.7
FP Markets1.01.21.2
XM1.11.31.3

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.

Trading Platform

Deposit and Withdrawal

AlfaTrade does not explicitly state whether it charges fees for withdrawals and deposits. Its minimum deposit amount is 5,000 USD.

Payment MethodDeposit TimeWithdrawal TimeFee
Bank Wire2-5 business days2-5 business days$25+
Crypto24 hours24 hoursVary

Related broker

No Regulation
AlfaTrade
Company name:AlfaTrade
Score
1.30
Website:https://alfatraders.pro/
2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.30

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