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4.12/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Regulation:
  • СB RF
Foundation date:
  • 1991
19
users picked this broker in 3 months
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Our Evaluation of Alfa-Forex

4.12/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Traders Union icon

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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Advantages of trading with Alfa-Forex:
  • 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.
Disadvantages of Alfa-Forex:
  • the support service does not work on weekends;
  • no cent account;
  • it is not possible to withdraw funds to electronic wallets.

TU Expert Advice

Andrey Mastykin

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

Video Review of Alfa-Forex

User Satisfaction i

Score:
4/10

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Shaik
3 years ago

I chose Alfa-Forex because of the license of the Central Bank of the Russian Federation. Of course, it guarantees the safety of funds, but I also noticed some disadvantages of working with a broker regulated at this level. First, there is a low shoulder. Secondly, electronic payment systems are not available. If these two points are not too important for you, then Alfa Forex will suit you. The broker has enough currency pairs. Spreads are average for NDD accounts. Education, analytics, demo account - Alfa-Forex has it all. Support is via Telegram and WhatsApp. In addition, the company has revised the requirements for the size of the minimum deposit, and now there are none, so you can start with any amount. My main broker now, although there are shortcomings.

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shahri_purba
4 years ago

Mego high-speed withdrawal of money. I would like more options for trading, because so far, it's pretty boring. But it's stable. This also applies to earnings, rather stable results for a company with a not yet clear regulation situation.

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pao-pao
4 years ago

I've been an Alfa-Forex client for about 4 months. I've lost more than $1,000, but decided to go on and deposit $3,000 more to keep trading. The money was credited instantly, I won back my losses, but as soon as I ordered withdrawal of the whole amount, my request was declined with no reason at all. Later they told me there were no trading orders on my account, so I couldn't prove my profits. I have all the videos! screenshots! Run away from them not to get in trouble!

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maurille
4 years ago

Sorry to say it, but Alfa-Forex isn't to be trusted at all. I've been trading for 2 months, and my account grew from $150 to $270. I requested profit withdrawal, and support agents decided to overwhelm me with their calls. They tried to manipulate me and made me reopen some trades. Eventually after a week or so, they informed me that my account balance was insufficient to complete the withdrawal. That's a typical scam brokers that should be long closed.

Score:
We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria
2.5/10

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.

Advantages
  • Negative balance protection
  • Track record over 34 years
Disadvantages
  • 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

Attention! It's your choice to work with regulated or unregulated brokers, but please consider the risks carefully. Unregulated brokers might offer lower fees and flexible trading options, but they lack investor protection, have a higher fraud risk, and no guarantee of withdrawals. Thoroughly research before deciding.
Score:
We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria
5/10

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.

Advantages
  • No inactivity fee
  • No withdrawal fee
Disadvantages
  • 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
Score:
This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology
5.2/10

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.

Advantages
  • Bitcoin (BTC) accepted
  • USDT (Tether) supported
  • Minimum deposit below industry average
  • BTC available as a base account currency
Disadvantages
  • Deposit fee applies
  • Only major base currencies available
  • PayPal not supported

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.

Score:
The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change.
4/10

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.

Advantages
  • Copy trading platform
  • 41 supported currency pairs
Disadvantages
  • Futures not available
  • Crypto trading not available

Alfa-Forex 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
Score:
This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles.
7.25/10

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.

Advantages
  • Trading bots (EAs) allowed
  • Free VPS for uninterrupted trading
  • MetaTrader is available
  • One-click trading
Disadvantages
  • No access to a proprietary platform
  • No TradingView integration
  • No access to API

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
Score:
This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones.
2/10

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.

Advantages
  • Android and iOS apps
Disadvantages
  • Mobile alerts not supported
  • Low app installs across iOS and 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 Bybit Eightcap XM Group TeleTrade NPBFX
Trading
platform
MT5 MetaTrader5 MT4, MT5, TradingView MT4, MT5, MobileTrading, XM App MT4, MT5 MT4
Min deposit $1 No $100 $5 $10 $10
Leverage From 1:1
to 1:40
From 1:1
to 1:500
From 1:30
to 1:500
From 1:1
to 1:30
From 1:1
to 1:500
From 1:200
to 1:1000
Trust management No No No No No No
Accrual of % on the balance No No No No No No
Spread From 1.4 point From 0 points From 0 points From 0.8 points From 0.2 points From 0.4 points
Level of margin call
/ stop out
100%  /  20% No  /  50% 80%  /  50% 100%  /  50% 70%  /  20% No  /  30%
Order Execution Instant Execution, Market Execution Market Execution Market Execution Market Execution Market Execution, Instant Execution Instant Execution, Market Execution
No deposit bonus No No No No No No
Cent accounts No No No No No No

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