Min. Deposit: $500
EUR/USD Spread: Fixed
Accepts US Clients: No
Web trading: Yes
Mobile trading: Yes
Live chat: Yes
Currencies accepted: USD, EUR
Alvexo is a fairly new investment and forex brokerage firm that provides a great environment for financial trading. You can invest in currencies and engage in CFD trading using the services of Alvex. The firm is founded by hi-tech professionals and market veterans according to the website. The firm was launched in 2015, but it claims that you can trade anywhere and anytime using the latest software innovations. Alvexo services international clients except for those from the USA, North Korea, Yemen, and Iran.
LICENSING AND REGULATION
The operating company of Alvex is VPR Safe Financial Group Limited, which is recognized as a Cyprus Investment Firm (CIF). It is regulated by the Cyprus Securities and Exchange Commission (CySEC) with registration number HE 322134.
CySEC is one of the authoritative bodies for investment firms. The financial crisis that gripped Cyprus in 2013 lead to several modifications in the regulation requirements. Several forex firms opted to go out of business because of the rigorous demands of the regulations. However, Alvexo obtained its license in 2014, indicating that it is a strong business. You should always do business with a regulated and licensed firm. In that aspect, Alvexo is a good choice.
Compliance with CySEC regulations indicates that Alvexo stores client funds in multiple segregated accounts. This will ensure that your money is not taken out of your pocket to run the brokerage firm business. It also provides different types of orders so that you protect your investment. It is the responsibility of the traders to follow efficient money management practices. Trading currencies and CFD is extremely risky and you should not dive in without a strong trading strategy.
A forex broker offering multiple trading options is always a better choice. Alvexo offers four different types of accounts – classic, gold, ECN, Prime. Each of the account types has different benefits and features and is suitable for traders with varied trading goals. Beginners will not be interested in depositing large amounts of cash and they may not know how to use advanced trading tools. Experienced traders, on the other hand, expect something of value in return from the broker when they invest a large sum of money. The Classic account includes a basic package with a minimum deposit of $500. Spreads start from 3.3 pips and it varies according to the traded commodity. A 15% educational bonus is offered for classic traders. Even classic account holders can enjoy leverage up to 400:1 and get free trade signals. Gold account requires a minimum deposit of $2500 and spreads start from 2.2 pips. Gold traders can get one-on-one support and get the economic calendar on their mobile. ECN account has a minimum deposit requirement of $5000 and traders can enjoy the tightest spreads starting from 0.0 pips. In addition to the benefits of Gold account, ECN account holders will get a Dealing room direct line. Prime Account is suitable for highly efficient traders who have no time for any distraction. You can open a Prime account if you can deposit $10,000 first. Prime account holders can get access to advanced trading tools including detailed technical analysis reports.
BONUS AND OFFERS
Classic account holders can get a bonus of 15% and Gold account holders can get a bonus of 25% after the first deposit. Promotion details for the season can be checked at the website. Alvexo provides benefits for clients who are ready to bring in more investors. You can become an IB partner to help your clients realize their investment goals. You can choose an investment plan that fits the needs of your clients. You can then hand over the processing to Alvexo while you collect your commissions. You can collect your commissions in various ways to have a lucrative relationship with Alvexo.
Alvexo provides all the three types of trading platforms – web-based, downloadable and mobile based trading platform. The web-based platform is accessible from any computer or laptop on any network. It provides one-click trading and guarantees high-speed execution. Real time quotes will help you to take advantage of the actual market conditions. If you prefer downloading trading software to your computer, you will be impressed with the standard MT4 trading platform. You can execute multiple order execution types using the MT4 platform. Chart based trading and position keeping will help you to stay on top of the market. The trading platform is designed to instantly respond to signals and trading alerts. The MT4 platform is compatible with automation tools which will ensure hassle free trading. You can use automated tools or completely automate trading using Expert Advisors. The mobile version of the trading platform is also loaded with all the features you can find in a powerful trading platform. All symbols, functions and order types are available with the mobile version. You can enjoy complete and unrestricted access to your portfolio from your smartphone or tablet. Alvexo guarantees no downtime of their mobile app. The intuitive and convenient user interface can help any trader to easily trade currencies, stocks, and commodities using a mobile phone or tablet. Additional trading and analysis tools are greatly helpful for all types of traders. Trading signals are accurately compiled twice a day which can be used to develop your own trading strategy. These trading signals are available free of cost to all traders registered with Alvexo. The Economic calendar is useful for investors who want to know the latest and updated investment opportunities. Handy trading calculators are useful during trading to make quick decisions.
DEPOSIT AND WITHDRAWAL OPTIONS
You can deposit funds in USD or EUR using major credit cards, debit cards, and bank wire transfer. Third party payment systems are also available, but you have to check whether they are available in your jurisdiction. Deposits and withdrawals are processed without any fees. To ensure quick withdrawal, you have to verify your identity first.
COMMISSIONS AND SPREADS
Alvexo doesn’t charge commissions for trading currencies. Competitive spreads are available for all types of accounts. ECN account holders can enjoy lowest spreads in the range of 0.1 pips. The EUR/USD has a standard spread of 3.3 pips for classic account holders. The spreads vary according to the account type to facilitate traders trading in high volume to enjoy tighter spreads. All the currencies are given a leverage of up to 400:1 while you can get a leverage of 100:1 for various commodities. For trading stocks, Gold account holders have to pay a commission of $15 per lot while Prime account holders need to pay only $13 per lot. It is important to understand the cost of trading so that you don’t end up losing your profit in spreads and commissions.
Alvexo specializes in providing customer support in various languages. You can contact the customer support team nearest to your location to get a precise response. The customer support team is available 24 x 7 and they can be reached via phone or email. If you need quick solutions, you can use the live chat feature on the website. Traders with gold, ECN, and Prime account can get one-on-one support from dedicated professionals. You can also find numerous educational material at the website to help you get started as a forex trader.
Some traders may not be interested in choosing a new forex broker. However, Alvexo is a licensed and regulated forex broker and there is no need to worry. As the brokerage firm was launched recently, it is regulated by only one authoritative body. In the future when the firm expands its business, we can expect Alvexo trying to register with several authoritative bodies in different jurisdictions. There is not a lot of information about CFD products on the website. Alvexo is an ideal choice for traders looking for competitive spreads and high leverage. The demo account is useful to practice your trading skills. If you follow Sharia laws, you can take advantage of the Islamic accounts.
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