Alchemy Markets Review

Richard Montana | November 17, 2022

Built by traders for traders, Alchemy Markets is an online trading broker that aims to provide retail and institutional clients worldwide with an exceptional trading environment and empower them to reach their full potential. The broker is made up of a team with a trading experience that spans back to the 80s and has traded on all major financial markets from Asia to North America. They offer a great selection of CFDs on currency pairs, stock indices, crude oil, precious metals, bonds, futures, energies, and cryptocurrencies. The minimum deposit required to start trading is not the lowest I have seen at $1,000. However, they do provide a free demo account if you want to get a feel for what they offer before making any financial commitment. I think they are certainly a broker worth considering for anyone who is looking to get no-nonsense market access in a regulated environment with good trading conditions.

Pros & Cons
  • 1000+ trading Instruments across 10+ asset classes
  • Intuitive and customisable MetaTrader platforms
  • Industry leading FIX API trading solutions
  • Managed accounts for investors and money managers
  • High quality signals via Trading Central
  • Good variety of account types
  • Deep liquidity pools and multi-asset execution
  • Commission-free FX trading
  • Spreads as low as 0.2 pips
  • Virtual Private Server (VPS)
  • Free demo trading accounts
  • Top-notch customer support
  • Cannot accept clients from certain countries
  • $1,000 minimum deposit is not the lowest
  • No Islamic accounts for Muslim traders

Summary

Based in London, United Kingdom, Alchemy Markets is a retail broker that provides you with the popular MetaTrader platforms (MT4 & MT5) for a seamless online trading experience across all of your devices. For those of you who are more demanding, they also provide FIX API platforms so you can get institutional trading conditions for your manual and automated strategies. Whatever your background or experience level, the broker has everything you need for trading multiple financial instruments across different asset classes. There is a nice selection of learning resources to educate beginners, useful trading tools to assist with your market analysis, and a knowledgeable client support team to answer all of your queries in a prompt and polite manner. Alchemy Markets also provides premium trading products and services with low spreads, fast execution, no requotes, transparency, and innovative technology.

AvaTrade Logo

Our #1 Broker 2022
AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Alchemy Global Limited is part of the group of companies “Alchemy Group” that are registered in different parts of the world. All companies operate independent of each other. The products and featured do vary between the entities. We will focus on the Seychelles entity for the purpose of this review as I think they offer more freedom to traders. Of course, the regulation may not be considered top-tier when compared to the UK entity, but you are free to choose which you feel most comfortable with. Interestingly, both Alchemy Prime Ltd and FXPIG are part of the same group of companies under common ownership. You can refer to my FXPIG Review for more information on them, another good broker with very competitive trading conditions for retail and institutional traders alike.

  • Alchemy Markets is a trading name of Alchemy Prime Limited who are authorized and regulated by the Financial Conduct Authority (FCA)
  • Alchemy Global Limited is registered in Seychelles pending license from the Financial Services Authority (FSA)

Funds

The broker should keep client funds in segregated bank accounts so they cannot be used for any purpose other than your trading. In addition, they provide negative balance protection, which can prevent clients from losing more than they have invested with the broker.

Countries

The broker offers its services to residents of countries and jurisdictions where the use of such services would not be contrary to any local laws or regulations. If you cannot open an account with them due to being in a restricted jurisdiction, please feel free to browse our broker reviews to find an alternative option.

Platforms

Alchemy Markets provides the user-friendly yet powerful MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for retail traders and FIX API for institutional and professional traders. These are some of the best trading platforms in my opinion and are provided by the majority of brokers in the industry. This means it can be easier to open an account with another broker down the line as you won’t need to learn a new platform from scratch.

MetaTrader Platforms

MetaTrader Platforms

Both MetaTrader platforms are simple yet packed with all of the advanced features you will need for analysing the markets, placing and managing trades. I find the platforms to be very similar in terms of the way they look and feel. That being said, MT5 has slightly more advanced capabilities and is probably considered more of a stock trading platform. MT4 remains the more prominent choice amongst forex traders. Regardless, as the platforms are so similar, once you know how to use one of them, you shouldn’t have any problems using the other. You get access to all of the platforms free of charge which is great.

Some of the key platform features include:

  • Over 300+ Products Available
  • No Trading Restrictions
  • 24/7 Crypto Trading
  • EA Trading Available
  • 100% STP execution
  • 0.01 Minimum Lot Size
  • Flexible Leverage
  • FXBlue & Trading Central Tools
  • PAMM
  • CopyTrading

MetaTrader 4 (MT4)

MT4 is designed for traders looking for an edge in their trading along with the simplicity of a modern platform. The platform offers a rich and user-friendly interface in a highly customizable trading environment to help improve your trading performance. The platform has enhanced charting functionality and sophisticated order management tools to help you control your positions quickly and efficiently. I actually still use MT4, primarily because it was the first platform that I became accustomed to and have never felt the need to switch to anything else. It does everything that I need it to and much more. I especially like the automated trading features which allow me to develop, test and run all sorts of automated trading strategies.

Alchemy Markets MT4 Platform

Alchemy Markets MT4 Platform

MT4 is widely regarded as one of the best forex trading platforms because it offers an easy-to-use user interface, various charts, and indicators. It supports the MQL language, which allows you to easily program indicators and Expert Advisors (EAs) – automated trading strategies that can trade the Forex market 24/5 with no intervention needed from your side. The MT4 trading platform is available in desktop, web, and mobile versions. I use the desktop version when I need to conduct in-depth market analysis and for automated trading. It has all of the functionalities that the platform can offer. The web platform has less functionality but is convenient for when you need to access your account on a device without installing any software. The MT4 trading app is ideal for me to keep track of my trades and the latest market news when I am not at my computer.

MetaTrader 5 (MT5)

MetaTrader 5 is the next-generation platform from MetaQuotes, aimed to allow multi-asset trading on stocks, futures, currencies, and more. The platform includes an impressive array of advanced trading tools such as depth of market pricing, over 80 technical indicators, 21 timeframes, and a redesigned language, MQL5 programming interface, with more comprehensive features and libraries. I think it is great how it supports up to 100 charts for you if you like to monitor all of your favourite symbols and set alert notifications so that you don’t need to keep switching between tabs. I have always been impressed that it has a multi-currency strategy tester so you can test your automated systems on different instruments using tick data. Another great feature is the built-in economic calendar where you can get the latest news releases from directly within the platform. As with MT4, it is also freely available on desktop, web and mobile.

Alchemy Markets MT5 Platform

Alchemy Markets MT5 Platform

FIX API

The Alchemy Markets FIX API enables you to connect directly to global liquidity and integrate it with any bespoke trading platform or GUI. This provides you with high-speed connectivity, ultra-low latency execution, and customised trading tailored to your trading requirements. Alchemy Markets provides one of the complete packages for your FIX API Trading, with access to over 300+ items across 10 asset classes, including various distinct price streams and dark pools. High-frequency traders may save more with the FIX API solution thanks to institutional raw spreads and a sliding scale commission depending on notional volume. I think any professional trader would be impressed with this setup, it is certainly one of the best I have seen from any broker that I have tested over the years.

  • FIX API 4.4
  • Institutional STP Execution <10ms
  • Sliding Scale Commission Based on Volume
  • No Trading Restrictions – All Strategies Welcome
  • Over 300+ Products Across 10 Asset Classes
  • Multiple price feeds / liquidity pools
  • Minimum Account Size $25,000

Tools

The broker provides you with various powerful trading tools to enhance your overall trading experience. These tools include a forex calendar, trading calculators, VPS, one-click trading functionality, and PAMM accounts that allow you to follow the strategies developed and tested by other traders. That being said, the provided platforms are already packed with a fantastic selection of tools. Not to mention there are more tools than you could ever try out available to purchase from the MQL marketplace which you can access from either of the MetaTrader platforms. You can also develop your own or hire a freelancer to code them for you. The best tool they have in my opinion is Trading Central. I think it is great that they have implemented this third-party software that is excellent for automatically generating trading signals based on your own customised analysis.

CopyTrading (PAMM)

The Alchemy Markets CopyTrading service enables you to replicate strategies without the use of plugins or a VPS. Anyone can easily open PAMM accounts and start copying trades. The Alchemy Markets CopyTrading Dashboard provides Strategy Providers with a real-time view of all their live customers’ KPIs, including performance, exposure, open trades, and much more, without requiring them to visit multiple platforms or websites. In a single easy solution, you can manage your clients, track your performance fees and earnings, and take control of your copy trading business. It’s worth mentioning that past performance does not promise an ensured performance in the future, so you should do your due diligence before copying trades from any other trader. I always prefer to trade manually by myself as I think this is the best way to improve your trading skills and to develop a more personalised trading strategy.

  • Quick and Easy Setup
  • Personalized Performance Website
  • Unique Signup Links
  • Customizable Fee Structures
  • Multiple Allocation and Risk Tools
  • Fast Payouts via Bank Wire and Credit Card
  • 100% STP Execution
  • 2000+ Products

Trading Central

This is a fantastic bit of kit that can help to drive confident decisions with simple, actionable trading plans. Trading Central has been a market leader for technical and fundamental research for over 20 years, providing unique tools across FX, Equities, and Derivatives. Their tools and research help clients validate new trading opportunities, manage risk, or learn about new products and markets.

  • Market-leading technical analysis supplied straight to your platform
  • You can know Pivot Points, Support, and Resistance in no time & choose a direction accordingly
  • Featured Ideas: Get trading signals & analysis on your favourite trading pairs
  • Candlesticks Patterns: Technical Formations & Candlestick patterns in real-time on your charts
  • Sentiment Trader: View real-time client sentiment & positioning data across your favourite trading instrument
  • Correlation Matrix: Compare your favourite pairs to see how they are correlating with each other
Trading Central

Trading Central

Economic Calendar

Alchemy Markets’ economic calendar is more than just your average calendar of upcoming events. It tracks economic events for over 38 countries and provides historical performance, charting, and analysis for historical news events for the past 5 years. You can track the historical movements of EURUSD 15 minutes, 1 hour, and 4 hours after every NFP announcement for the past 5 years. I am really impressed with how this calendar differs from the standard with the unique insights it can provide to help you with your trade decisions.

Virtual Private Server

A Virtual Private Server (VPS) allows traders to run automated trading strategies 24 hours a day 7 days a week with the fastest possible connectivity as your strategy is hosted next to Alchemy Markets’ server in LD4. The Gold VPS is the global standard for VPS solutions, with the ability to run up to 3 MT4/MT5 instances concurrently while the Platinum VPS Solution offers a more robust solution for traders who run more than 3 MT4/MT5 instances at once. For more information on how you can qualify for a free VPS, you can contact Alchemy Markets support and they will be happy to help you get setup.

Education

This is one area that I found the broker to be significantly lacking. I couldn’t source any educational content on the website but you can always open a free demo account to practice trading online. It may be that they are catering towards a more experienced clientele. However, if you do want as much educational content as possible, Admirals have a good selection.

Markets

Alchemy Markets have a great choice of trading instruments with over 1,000 to choose from including Forex, Indices, Commodities, Stock CFDs, ETF CFDs and Cryptos. In my opinion, these instruments are more enough for most traders. Whatever your interest, there should be something for everyone to trade.

Accounts

The broker offers a good variety of account types to support traders with different strategies. I think this is better than a one size fits all as we all have different needs. Some of you may want tighter spreads for scalping and others may prefer to trade without any commission fee. Regardless, I feel that there is an account for all types of trader. They do not impose any restrictions on your trading so you are free to scalp, hedge and use automated systems. The accounts are separated according to your chosen platform. I generally found the spreads and commission fees to be very good and no more than the industry standard. However, the minimum deposit of $1,000 is quite high compared to many brokers and may price some of you out of opening an account with the broker. If that is a case, you may want to look at Trade Nation as they have a $1 minimum deposit.

The following live trading account options are available for you to choose from:

  • MetaTrader 4: Classics, Premier, & VIP accounts
  • MetaTrader 5: Classic & VIP accounts
  • Demo Accounts: Practice trading with the risk

Support

Alchemy Markets give you access to 24/5 support with an experienced and knowledgeable team that is polite and prompt in response. The support team can be reached via the following contact channels: telephone, email, and Live Chat. I found them to be easy to deal with and like how they are dedicated to giving you the right support when you need it the most. This is something that is surprisingly often overlooked by some brokers.

Funding

I was pleased to see that there is a good variety of payment methods accepted for both account deposits and withdrawals at Alchemy Markets. I like how they support digital wallets as this can be a quick and easy way to fund your account. I often use this avenue as sometimes I need quick access to my funds if there is a trading opportunity that I need to try and take advantage of. In this instance, I wouldn’t want to be waiting around days for a bank transfer to clear.

  • Bank wire transfers
  • Credit/Debit cards
  • Electronic payment gateways

Compare Broker Features

Compare Brokers (vs Our Top 3 Brokers)
This BrokerAvaTradeIGIC Markets
Founded200619742007
RegulatedADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSAASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFAASIC, CySEC, FSA, SCB
Min. Deposit$100$250$200
CommissionFrom $0From $0From $0
SpreadsFixedVariableVariable
Leverage1:4001:2001:500
InstrumentsForex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFsForex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFsForex, Commodities, Crypto, Stocks, Indices, Bonds
PlatformsMetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTradeMetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX APIMetaTrader 4, MetaTrader 5, cTrader
FundingBank Transfer, Credit/Debit Card, E-WalletsBank Transfer, Credit/Debit Card, E-WalletsBank Transfer, Credit/Debit Card, E-Wallets
TradeTradeTradeTradeTradeTradeTradeTrade

Conclusion

Overall, I am really impressed with many aspects of Alchemy Markets. They give you access to trade a great range of financial markets using advanced yet user-friendly trading platforms. The FIX API solution is ideal for professional traders whereas managed accounts support investors and money manager alike. The broker has the technology and infrastructure to deliver tailor made solutions that are customised to meet the unique demands of each client they serve. You can take advantage of very competitive trading conditions, including low spreads, fast execution speeds and low fees. I like how there is a good variety of account types and funding options. The Trading Central software and option of a VPS are also standout features from my perspective. Despite the many positives, I think there are a few areas where Alchemy Markets could improve. The minimum deposit required to start trading is quite high at $1,000 and there is a lack of educational content for beginners. That being said, they can be a good broker for experienced traders who are looking to trade in a regulated environment with customised trading solutions.

Alchemy Markets Logo

$1,000

Alchemy Markets give you professional access to trade hundreds of instruments including Forex, Stocks, Cryptos, Indices and Commodities. They have a good range of platforms, quality trading tools and accounts for a personalised trading experience.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

Avatar photo

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.