Richard Montana | May 12, 2022
Table of Contents
Alvexo is an online broker that lets you trade a reasonable number of financial instruments with around 450 assets including CFDs on forex, stocks, commodities and cryptos. You can get direct access to the markets using versatile trading platforms for your desktop and mobile devices. I found the broker to have acceptable commission fees, decent spreads and reliable execution. There are some additional trading tools to help with your day trading activities and you can choose from a variety of account types depending on the strategy you are using. If you are a beginner, you may find the trading academy useful. I think the minimum $500 deposit is quite high when compared to many other brokers but they do have free demo accounts if you want to practice trading before making a financial commitment.
Broker Pros / Cons
- Commission free trading accounts
- Reasonable range of trading instruments
- Good choice of account types to choose from
- Trading academy is good for beginners
- Additional trading tools for market analysis
- Trading signals
- Islamic swap-free accounts
- Free demo accounts
- Excellent customer support
- Regulated brokerage
- Segregated client funds
- Negative balance protection
- Cannot accept clients from certain countries
- No fixed spread account options
- No live online chat support
- Minimum $500 deposit is quite high
- No MetaTrader 5 platform
- No cryptocurrency funding
- No managed accounts
- No FIX API trading
Founded in 2014 by a team of market veterans, Alvexo is a regulated online broker offering Forex, Commodities, Cryptocurrency, Stocks, Indices, Bonds & CFDs trading with thousands of registrations worldwide and billions in trading volume processed. They pride themselves on being a “real broker for real traders”. I feel they have the infrastructure to cater for both retail and institutional traders alike.
You can choose from a selection of intuitive trading platforms all of which stream real time buy and sell quotes on over 450 different assets. I found the platforms to be flexible and user friendly, with a range of trading tools that are great for assisting with your market analysis.
Alvexo are known for the education that they provide along with their service-oriented focus for all levels of traders. You can utilise a comprehensive selection of daily signals, market analysis, economic news, trading academy, webinars and seminars. This is a really generous selection and puts them amongst the best brokers when it comes to education.
They are focused on providing a personalised and reliable service whilst implementing the latest advanced innovative technologies to ensure you can trade in a safe and powerful trading environment.
I noticed that customer feedback from testimonials shared on the Alvexo website is very positive with clients emphasising the importance of the dedicated account managers provided and learning materials that have helped them to become more confident traders.
I like that Alvexo are regulated in a couple of countries but would like to have seen them regulated by what I would consider to be a top-tier regulator like AvaTrade are. That being said, I would still feel confident that my funds are safe and have no trouble trading with them. You can choose the entity that you want to open an account with during the signup process. The main different being the features and protections you can get, such as leverage and insurance.
Alvexo EU is a brand name of VPR Safe Financial Group Limited who are committed to protecting clients’ interests and security, in accordance with governing rules and guidelines.
Alvexo EU is supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 236/14 and company registration number HE 322134. This regulation covers all members within the European Union.
Alvexo Global is registered with the Financial Services Authority (FSA) of Seychelles with license no. SD030 and operated through HSN Capital Group Limited, with company registration number 8422417-1.
As a regulated broker, Alvexo must abide by strict financial requirements that include regular internal auditing and external monthly monitoring by a certified public accountant. The company is a member of the Investor Compensation Fund (ICF) and is subject to maintaining minimum capital requirements.
Alvexo have a collection of legal documents readily available for the public to download via their website. This can help potential investors conduct due diligence and includes regulatory policy papers, covering risk, privacy and investment policies.
They hold client funds in segregated fiduciary bank accounts away from the company funds so that they cannot be used for any other purposes. These funds exist off the company’s balance sheet and cannot be used to pay back creditors in the unlikely event of default of the Company. Safety of your funds is of primary importance with accounts also having negative balance protection.
Alvexo protects your data by ensuring platform integrity and client confidentiality via the use of the strictest safety protocols. Transactions and trades are protected with 256-bit RapidSSL encryption through a firewalled system. Transactions are executed by the highest PCI-Certified (currently Level-1 but subject to upgrade upon availability) service providers and servers located in SAS-70 certified data centres.
The broker operates in a constantly monitored environment to identify, assess, monitor and control any potential risks that may be associated with its activities. They are continuously evaluating their policies, standards and procedures in order to ensure the security of your funds. I really like how they go above and beyond to protect client interests and deliver a safe trading environment for all. The latest security measures used help to give me additional peace of mind.
Whilst Alvexo welcomes clients from across the globe, they are unable to accept traders from the United States and some other countries where there are stringent regulations in place. If your country is not accepted, please feel free to look at our broker reviews for an alternative option.
You can enjoy a pleasurable trading experience with easy to use, engaging and powerful platforms that work seamlessly across your devices. You can choose between the popular MetaTrader 4 (MT4) trading platform or the proprietary Alvexo web trader and mobile app. I personally use MT4 as it was the first platform that I really became accustomed to and have never felt the need to change. I like how it is available through most brokers which can be useful if you plan to switch brokers at a later date. MT4 is also great for running automated trading systems (expert advisors).
MetaTrader 4 (MT4)
Developed by Russian software company MetaQuotes, MT4 is the industry’s leading trading platform with millions of users worldwide. I think it has a quick learning curve which could make it a good option for beginners. You will find a vast range of built in tools for performing in-depth market analysis. You can customise the platform to be as simple or complex as you need it to be. This makes it a popular choice of platform for both new and experienced traders alike.
Some of the key MT4 features to look out for include:
- Market watch window with real time price quotes
- Multiple order types
- 9 timeframes from 1 minute to 1 month
- 30+ technical indicators & graphical objects for chart analysis
- Alert notifications via platform, SMS & email
- Automated trading systems with expert advisors (EAs)
- MQL programming interface to create custom indicators & EAs
- Strategy tester for back testing EAs
- Online community & marketplace
- Freely available on desktop (Windows / Mac) & mobile (iPhone / iPad / Android / Tablet)
Alvexo WebTrader Platform
Alvexo have a fast, clean and convenient online trading platform that runs directly in most modern web browsers without the need to download any additional software. You can just access it from any browser and login to your account. I like that it is available on all devices and is always up to date.
Some of the important features of the web platform include:
- Instant Execution for fast order placement
- Charting Suite with a broad range of technical analysis tools
- Real time asset data keeps you up to date with the markets
- Real time alerts to keep you informed with market movements
- Wide range of assets including Currencies, Stocks, Cryptos, Commodities & Indices
- Professional pre-researched trading signals delivered 3 times a day
- On-line precise account information
- Order management to review open positions & cancel pending orders immediately
Alvexo Mobile Trading App
You can also trade on the brokers very own cutting-edge, powerful and intuitive mobile trading app that implements the latest technologies for easy and convenient trading whilst on the go. You will find popular assets such as Apple, Google, Amazon, Facebook, major and exotic forex currency pairs, NASDAQ, Dow Jones, CAC 40, FTSE 100 and much more are available for trading directly from the convenience of your mobile device.
You can access real-time market quotes and price feeds, view charts and manage positions from the palm of your hands on both Android and iOS devices. The Alvexo app is freely available to download from the relevant app stores or directly from the website.
I am a big fan of trading apps. I find them ideal for checking my trades as and when I feel like it. I don’t always want to switch on my laptop just for a quick glance at the markets. The app lets me keep the markets in my pocket at all time and take them with me wherever I go.
I was impressed with the analytical tools available in the Alvexo app. They had some innovative tools for market analysis that you won’t find anywhere else. With the app, you can take advantage of the following features:
- Live daily trading signals
- Real time price quotes & alerts
- Full featured trading with risk management
- Advanced charting suite & analysis tools
- Create favourite lists for preferred assets
- Trading trends to gauge the popularity and sentiment of an asset from other Alvexo traders
- Track your account status at anytime
In addition to the plethora of indicators you get built-in the platforms, there is a decent selection of additional trading tools to improve your market analysis capabilities. You can also get access to trading signals and setup risk management. However, I think they could improve by implementing Trading Central and Autochartist. These are excellent tools which you can get through some other brokers such as Forex.com.
If you don’t have the time or knowledge to trade by yourself, then you can take advantage of thoroughly researched trading signals prepared by Alvexo’s professional analysts. They are delivered twice per day and can be accessed on your PC or mobile device and sent directly via SMS.
The signals I received were based on logical reasoning but they would require your own additional money management. I actually prefer to use my own strategies as I like to know exactly why a position was taken. It is very important to note that there is by no means any guarantee on the quality or results of these signals.
The website has an economic calendar that displays up to date listings of economic events, including the country impacted and level of impact. You can view previous, forecasted and actual results of each economic event. The calendar also includes filters to display the releases relevant to you. Economic releases are often used as part of a fundamental market analysis.
I think economic calendars are a vital tool and I often use them to see what is happening in the markets. You will find a calendar on nearly all broker websites. I would prefer to have it included within the platform as I feel that this makes it much easier to check.
The trading tools include a useful range of trade calculators that can help to improve your trading efficiency, evaluate your balance and portfolio, perform tasks quick and easy. The trading calculators include a currency convertor, profit calculator, margin calculator and pip calculator. I found them useful for performing basic calculations but they aren’t something that I would use on a regular basis.
One of the areas that I think the broker really excels in, is education. You can get access to a wide range of educational materials in their dedicated trading academy, including trading guides and video tutorials. These have been prepared by their team of professional economists, analysts and brokers. If you are a beginner, you will find these very helpful to get you started. If you already have some experience then I don’t think you will find anything new here. For advanced education, you could look at Admirals instead.
The market updates section of the website contains frequently updated daily and weekly market analysis. I thought that the articles were in-depth and appreciated how they are covering a variety of markets with technical and fundamental analysis. You can utilise these market updates to keep tabs on global current affairs, market reactions, inspire potential trade opportunities and as part of your overall trading strategy.
There is also a generous selection of trading articles for all levels of trader. I like that they are covering a range of important topics including trading strategies, platforms, market analysis and risk management. I think it is good how each article goes into detail including screenshots for a clearer explanation.
The Alvexo trading academy has a selection of fun and easy to digest trading videos that can help you to learn some of the essentials of trading. Topics include technical analysis, types of markets, charts and more. I enjoyed browsing through each of the videos but I didn’t actually learn anything new as they only really cover the basics. However, if you are a new trader then they can give you a great way to learn about the markets.
The glossary contains an A-Z of of popular trading terms along with an explanation of each. It can be very important to familiarise yourself with the most commonly used trading terminology.
In terms of markets, I found the range of instruments to be reasonable but not as substantial as top brokers like Swissquote who have thousands of tradeable assets. You can trade contract for differences (CFDs) on around 450 instruments in multiple asset classes including from Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds & CFDs. The main advantage of trading CFDs is that you can go long (buy) or short (sell) without needing to own the underlying asset. You are simply speculating on whether you think the price will rise or fall.
The limited selection should suffice if you are just looking to trade a few major currency pairs, popular cryptos or stocks of large companies. For those of you who want more choice, IG have over 17,000 instruments.
Another aspect of the broker that impressed me was that they have a great choice of flexible accounts to cater for individual trader’s needs. The account type that you opt for will determine your trading conditions and the duration of the services available to you. Thus, it is imperative to choose an account that best reflects your trading budget and requirements.
Each account type has a different spread so those with tighter spreads will most likely be preferred by scalpers compared to others with higher spreads which may be suited to swing traders. You can choose from accounts with low spreads and commission fees, or a spread mark-up with no commission fee. The Classic, Gold and Prime accounts have no commissions.
You should be aware that an ECN account is required if you need access to trade stocks. The maximum leverage on all accounts is 1:300. If you want more leverage then XM Group have up to 1:888 available for qualifying traders.
I have tested many brokers over the years and I didn’t find them to have the lowest spreads or commission fees. This might not make a difference to those of you who are investing for the long term but if you are an active day trader and want to try and save on costs as much as possible, you might want to consider IC Markets as an alternative option.
I would also prefer if you could get access to all accounts with the same deposit. Otherwise, I don’t think it is fair that you need deeper pockets for better trading conditions.
The classic account requires a minimum deposit of €500. Spreads start from 3.3 pips whilst there is zero commission charged. The minimum lot size required for this account type is 0.01. Account holders get 1 months free 1 on 1 support and access to trading signals/analysis.
The gold account requires a minimum deposit of €3,500. Spreads start from 2.2 pips whilst there is zero commission charged. The minimum lot size required for this account type is 0.05. Account holders get 2 months free 1 on 1 support, access to SMS trading signals/analysis and daily market review.
The prime account requires a minimum deposit of €10,000. Spreads start from 1.8 pips whilst there is zero commission charged. The minimum lot size required for this account type is 0.25. Account holders get 4 months free 1 on 1 support, access to SMS trading signals/analysis and daily market review.
ECN Gold Account
The ECN gold account requires a minimum deposit of €5,000. Spreads start from zero pips whilst there is a $18 round turn commission charged. The minimum lot size required for this account type is 0.05. Account holders get 6 months free 1 on 1 support, access to SMS trading signals/analysis, daily market review and daily live review.
ECN VIP Account
The ECN VIP account is available upon request and can be customised according to individual requirements. Spreads start from zero pips whilst there is a $13 round turn commission charged. The minimum lot size required for this account type is 0.25. Account holders get full access to the range of features available including unlimited free 1 on 1 support, access to SMS trading signals/analysis, daily market review and daily live review, meetings and direct line to senior account executives. This would be my account of choice simply because it has the lowest spreads which is important for my trading style.
Demo accounts are available for you to test the different trading platforms and conditions before opening a real account. You can practice your trading strategies risk free until you build the confidence to switch over to a real account.
Islamic swap-free accounts that comply with Sharia law are also available upon request. I think it is great that they welcome traders from all background with different religious beliefs. That being said, most brokers have an Islamic account option nowadays.
I respect how the broker puts such a strong emphasis on offering industry leading customer support to help you thrive. There is a knowledgeable customer support staff who understand the importance of prompt and efficient responses to all of your requests. They welcome all of your general and technical questions via an online form, telephone and email. The broker is headquartered in Cyprus with contact numbers in multiple countries to cater to different client’s geo-locations. I like how support is multilingual available in English, French, Portuguese, Italian, Russian & Arabic. This is as good a variety as I have seen from any broker.
There is also a dispute resolution process that can be used in case you have any dissatisfaction with services, account or activity issues. The customer support team strives to resolve any complaints in a prompt and satisfactory manner, within 1 business day. Based on my experience, I have found them to be very helpful and would not hesitate to reach out to them in the future.
Alvexo have a choice of methods for depositing and withdrawing funds to and from your trading account. This includes bank wire, credit/debit card, WebMoney & CashU. I would like to see them support some of the more popular digital wallets like FXTM do.
Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on methods in some countries. They do not accept third-party payments. All funds deposited into your trading account must be under the same name. This is pretty much the standard procedure with all brokers.
You won’t get charged any deposit or withdrawal fees from the brokers side although some fees may be charged by payment providers when using certain methods. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant. I prefer card payments as they usually give me quicker access to trading funds.
Accounts can be opened in USD, EUR. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. They could improve by adding support for some more currencies and also cryptos. For crypto funding, you can have a look at Hugo’s Way.
Opening a trading account with Alvexo is a simple process. There is a short online form to complete after which you will need to verify your email address. You will then need to upload a proof of identification such as a passport or drivers license and a proof of address such as a utility bill no more than 3 months old. This is normal part of the KYC procedure that online brokers conduct. Once the accounts team have verified your account, you will be able to fund it using any of the convenient deposit methods and you can then commence trading.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
Overall, I like that Alvexo is a regulated broker with a range of flexible platforms and account types to suit different trading strategies. However, I do feel there is small room for improvement. You can trade a range of over 450+ different assets with reasonable trading conditions and get free trading signals.
In addition to this, they give you free access to some useful trading tools and have an abundance of easy to understand educational materials to help those of you who are beginners improve your trading knowledge. Furthermore, I found the customer support team are prompt, polite and efficient with their responses.
However, they don’t have the lowest spreads or commission fees that I have come across. I think they could also improve by introducing the MetaTrader 5 platform and some more payment options. I would have liked to have the option to contact support over live chat. The minimum deposit is quite high at $500, considering brokers like Trade Nation let you get started with $500. Other than that, I think they can meet the basic needs of most retail traders.