According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- СB RF
- 1991
Our Evaluation of Alfa-Forex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Alfa-Forex is a broker with higher-than-average risk and the TU Overall Score of 4.12 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Alfa-Forex clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Alpha Forex is a suitable company for those who prefer to trade in popular currency pairs. A simple website interface and a popular trading terminal make the broker convenient for beginners and experienced traders.
Brief Look at Alfa-Forex
“Alfa-Group” — is the one of the biggest investment groups in the Russian Federation. This company has started its activity in the year 1989. Present days, this broker can offer top-class and secure trading, as well as the possibility to make additional earnings via the partner program.
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- the company has a license; therefore all financial operations are protected by law and are carried out following the standards set by the regulator;
- there is no limit on the minimum withdrawal amount;
- good liquidity;
- quite attractive trading conditions.
- the support service does not work on weekends;
- no cent account;
- it is not possible to withdraw funds to electronic wallets.
TU Expert Advice
Author, Financial Expert at Traders Union
Alfa-Forex offers access to popular currency pairs through the MetaTrader 5 platform, providing NDD and demo accounts with USD and EUR as base currencies. Traders enjoy attractive conditions like low spreads on EUR/USD, automatic trading options, and no minimum deposit requirement. Additionally, the company supports withdrawals via Visa, Mastercard, and bank transfers, with no extra fees, making it accessible for both beginners and experienced retail traders within its operational regions.
However, Alfa-Forex faces challenges including no weekend support, the lack of cent accounts, and the restriction on withdrawing funds to e-wallets. Its low regulatory safety score and absence of ECN accounts may deter risk-sensitive or advanced traders. Consequently, Alfa-Forex may be more fitting for those focusing on limited Forex trading rather than traders needing a more diverse asset selection or robust regulatory assurance.
Alfa-Forex Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 5 |
|---|---|
| 📊 Accounts: | NDD, Demo |
| 💰 Account currency: | USD, EUR |
| 💵 Deposit / Withdrawal: | Visa, MasterCard, Bank transfer |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:40 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0,01 |
| 💱 EUR/USD spread: | 0,4-1,4 pips |
| 🔧 Instruments: | Currency pairs |
| 💹 Margin Call / Stop Out: | 100% / 85% |
| 🏛 Liquidity provider: | Alfa Bank |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market execution |
| ⭐ Trading features: | Partner program; Good liquidity; Automatic trading. |
| 🎁 Contests and bonuses: | No |
Alfa-Forex Key Parameters Evaluation
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Regulation and safety
Alfa-Forex has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 34 years
- Not tier-1 regulated
- Not regulated
Alfa-Forex Security Factors
| Foundation date | 1991 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Alfa-Forex is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker Alfa-Forex have been analyzed and rated as Medium with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
- Deposit fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Alfa-Forex with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Alfa-Forex’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Alfa-Forex Standard spreads
| Alfa-Forex | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,4 | 0,5 | 0,1 |
| EUR/USD max, pips | 1,4 | 1,5 | 0,5 |
| GPB/USD min, pips | 1,5 | 0,4 | 0,1 |
| GPB/USD max, pips | 2,1 | 1,4 | 0,5 |
Does Alfa-Forex support RAW/ECN accounts?
As we discovered, Alfa-Forex does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Alfa-Forex. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Alfa-Forex Non-Trading Fees
| Alfa-Forex | Pepperstone | OANDA | |
| Deposit fee, % | 0-1 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Deposit and withdrawal
Alfa-Forex received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Alfa-Forex provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bank wire transfers available
- No withdrawal fee
- Low minimum withdrawal requirement
- Bank card deposits and withdrawals
- PayPal not supported
- Only major base currencies available
- Deposit fee applies
What are Alfa-Forex deposit and withdrawal options?
Alfa-Forex provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Neteller, BTC, USDT.
Alfa-Forex Deposit and Withdrawal Methods vs Competitors
| Alfa-Forex | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are Alfa-Forex base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Alfa-Forex supports the following base account currencies:
What are Alfa-Forex's minimum deposit and withdrawal amounts?
The minimum deposit on Alfa-Forex is $0, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Alfa-Forex’s support team.
Markets and tradable assets
Alfa-Forex offers a limited selection of trading assets compared to the market average. The platform supports 41 assets in total, including 41 Forex pairs.
- 41 supported currency pairs
- Copy trading platform
- Futures not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by Alfa-Forex with its competitors, making it easier for you to find the perfect fit.
| Alfa-Forex | Plus500 | Pepperstone | |
| Currency pairs | 41 | 60 | 90 |
| Total tradable assets | 41 | 2800 | 1200 |
| Stocks | No | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | No | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products Alfa-Forex offers for beginner traders and investors who prefer not to engage in active trading.
| Alfa-Forex | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Trading platforms & tools
Alfa-Forex received a score of 7.25/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- Free VPS for uninterrupted trading
- One-click trading
- MetaTrader is available
- Trading bots (EAs) allowed
- No access to API
- No access to a proprietary platform
- No access to cTrader and its advanced tools.
Supported trading platforms
Alfa-Forex supports the following trading platforms: MT4, MT5. This selection covers the basic needs of most retail traders. We also compared Alfa-Forex’s platform availability with that of top competitors to assess its relative market position.
| Alfa-Forex | Plus500 | Pepperstone | |
| MT4 | Yes | No | Yes |
| MT5 | Yes | No | Yes |
| cTrader | No | No | Yes |
| TradingView | No | Yes | Yes |
| Proprietary platform | No | Yes | Yes |
| NinjaTrader | No | No | No |
| WebTrader | No | Yes | Yes |
Key Alfa-Forex’s trading platform features
We also evaluated whether Alfa-Forex offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features
| 2FA | Yes |
| Alerts | Yes |
| Trading bots (EAs) | Yes |
| One-click trading | Yes |
| Scalping | Yes |
| Supported indicators | 38 |
| Tradable assets | 41 |
Additional trading tools
Alfa-Forex offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
Alfa-Forex trading tools vs competitors
| Alfa-Forex | Plus500 | Pepperstone | |
| Trading Central | No | No | No |
| API | No | No | Yes |
| Free VPS | Yes | No | Yes |
| Strategy (EA) builder | No | No | Yes |
| Autochartist | Yes | No | Yes |
Mobile apps
Alfa-Forex supports mobile trading, offering dedicated apps for both iOS and Android. Alfa-Forex received 2/10 in this section, which suggests limited user interest or weak performance of the apps.
- User-friendly interface
- Weak user feedback on iOS
- Weak user feedback on Android
We compared Alfa-Forex with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
| Alfa-Forex | Plus500 | Pepperstone | |
| Total downloads | No data | 10,000,000 | 100,000 |
| App Store score | No data | 4.7 | 4.0 |
| Google Play score | No data | 4.4 | 4.0 |
| Mob. 2FA | No | Yes | Yes |
| Mob. Indicators | No | Yes | Yes |
| Mob. Alerts | No | Yes | Yes |
Contacts
| Foundation date | 1991 |
|---|---|
| Regulation |
СB RF
Licence number: 045-14070-020000 |
| Official site | alfaforex.ru |
| Contacts |
8 (800) 100-62-02
|
Comparison of Alfa-Forex with other Brokers
| Alfa-Forex | Eightcap | XM Group | RoboForex | TeleTrade | NPBFX | |
| Trading platform |
MT5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | MT4 |
| Min deposit | $1 | $100 | $5 | $10 | $10 | $10 |
| Leverage |
From 1:1 to 1:40 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:200 to 1:1000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | 1.00% | No |
| Spread | From 1.4 point | From 0 points | From 0.8 points | From 0 points | From 0.2 points | From 0.4 points |
| Level of margin call / stop out |
100% / 20% | 80% / 50% | 100% / 50% | 60% / 40% | 70% / 20% | No / 30% |
| Order Execution | Instant Execution, Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Instant Execution, Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | Yes | No |
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