Alvexo Company OverviewTrading PlatformsAssetsSpreads & FeesLeverageMobile AppsPayment MethodsDemo AccountBonuses & PromotionsRegulation & LicensingAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursCustomer SupportUser SecurityAlvexo VerdictAccepted CountriesAlternatives to AlvexoFAQ
Alvexo is an online forex broker offering a range of tradable assets, multiple accounts, and varied educational resources. Here we’ll explore the broker’s trading platform, mobile app, signals offering, and more. Read this review to find out whether Alvexo is right for you.
Alvexo Company Overview
Alvexo was founded in 2014 and is owned by VPR Safe Financial Group Ltd. Its headquarters are in Limassol, Cyprus, but the company also has an office in Paris.
Alvexo boasts over 450 tradeable instruments and has thousands of clients worldwide, from France to Singapore and the UAE. The broker is the official partner of Norwich City FC.
Alvexo is registered with the Cyprus Securities & Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.
Trading Platforms
Alvexo offers two trading platforms – MetaTrader 4 and a web-based alternative. The downloadable MT4 platform is widely used amongst financial traders and is suitable for clients of all experience levels.
Features include:
30 technical indicators & 9 timeframes
Graph & chart tracking
Customisation tools
Multiple order types
Instant execution
real-time alerts
Market signals
Alvexo MT4 trading platform
Alvexo also offers an award-winning WebTrader platform with no download required. The web-based option is available on any device with an internet browser while the interface is user-friendly and easy to navigate.
Assets
Alvexo clients can trade in multiple financial markets:
Forex – 58+ currency pairs including GBP/USD and EUR/GBP
Indices – Trade on the world’s leading indices including the FTSE and DAX
Shares – Major shares available from a host of international companies such as Alibaba, IBM and Netflix
Commodities – Trade Brent Oil, Copper and Natural Gas
Cryptocurrencies – Trade on Bitcoin, Litecoin, Dash and Ethereum
Note only ECN VIP account holders can trade on European and US stocks.
Spreads & Fees
Spreads vary according to the account, however, they are competitive. The EUR/USD spread starts at 3.3 pips for Classic account holders and drops as low as 0.4 pips with the ECN VIP option. Spreads on major indices such as the FTSE 100 start at 3.53 points for Classic accounts and 0.88 points for ECN VIP accounts.
Classic, Gold and Prime members enjoy a commission-free structure. Other costs include an inactivity fee equal to 10 units of the base currency and swap fees on positions left overnight.
Leverage
Leverage for those trading in Europe is capped at 1:30. Clients operating under FSA regulations can utilise higher leverage, up to 1:300. Leverage should be utilised only when traders understand the risks involved.
Mobile Apps
Alvexo offers a mobile app to facilitate on-the-go trading. The iOS and Android apps are available to download free of charge from the App Store or the Google PlayStore. Once you have your member login details, you can trade commodities, indices, forex, and cryptocurrency. The app generally receives positive customer reviews and features include:
Daily signals
Charting suites
Real-time alerts
Risk management tools
Alvexo mobile app
Payment Methods
Clients can finance trading using credit cards, those accepted include VISA, MasterCard, American Express, and debit cards (VISA Electron, Maestro, CASH-U, V-Pay), electronic wallets (QIWI wallet), or wire transfer.
The minimum deposit is specific to the type of account held. For a Classic account, the requirement is $500, for a Gold or ECN account it’s $2,500, and for a Prime account, it’s $10,000. The broker does not charge any deposit or withdrawal fees.
Withdrawals take a minimum of 3-5 business days and wire transfers may take longer. Alvexo only enables transactions in US Dollars and Euros.
Demo Account
Alvexo offers a free demo of their web platform. Users will be credited with a £50,000 virtual balance. The practice simulator is a great way for traders to try new strategies and platforms in a risk-free environment.
Bonuses & Promotions
Alvexo offers a refer a friend promotional offer that awards users a $300 trading bonus upon the opening of a Classic account. Periodically, the broker also offers a first deposit bonus, the size of the which depends on the amount deposited. Always check bonus terms and conditions before you start trading.
Regulation & Licensing
Alvexo is a legitimate broker that is safe to trade with and not a scam. Alvexo (Europe), is operated by VPR Safe Financial Group Limited and regulated by the Cyprus Securities and Exchange Commission (CySEC). Alvexo’s global operation is operated by HSN Capital Group Limited and regulated by the Financial Services Authority of Seychelles (FSA).
Both jurisdictions offer negative balance protection but leverage rates and fund protection schemes vary.
Additional Features
A suite of additional features is available to facilitate education and trading. Users have access to a blog, analysis tools, market news, an economic calendar, plus market signals. There is also an academy offering tutorials, webinars, and articles to help users identify and trade the price difference.
Account Types
Alvexo offers five trading accounts; Classic, Gold, Prime, ECN Gold, and ECN VIP. The spread, leverage, minimum deal size and tradeable assets are specific to the account held. A Classic account offers spreads from 3.3 pips, leverage up to 1:30, and a minimum deal size of 0.01 lots. An ECN VIP account offers spreads starting from zero pips, leverage up to 1:300 (professional clients only), a minimum deal size of 0.25 lots, and a broader range of tradeable assets, including European and US stocks.
Benefits
If you take Alvexo vs the likes of eToro, FXTM, and Degiro, the broker performs well in the following areas:
Broad range of assets & markets
CySEC & FSA regulated
Tiered account options
Competitive spreads
Drawbacks
Alvexo could also improve its offering:
No MetaTrader 5 platform available
Not available to clients from the US
Some bad customer reviews
High minimum deposit
Trading Hours
Clients can access trading platforms 24/7. However, trading in certain products is subject to respective market opening times. Trading out of hours can bring with it less trading volume and wider spreads.
Customer Support
Customer support is easily accessed via the live chat function, located in the bottom right of the screen. Alternatively, the contact telephone number is +35725030482. The broker’s customer service team is friendly, helpful, and responds quickly to queries.
User Security
Alvexo uses the standard security measures employed by online financial brokers. Trades are secured with 256-bit RapidSSL encryption and the entire system is fire-walled. Transactions are executed by the highest PCI-Certified service providers and servers are located in SAS-70 certified data centres.
Alvexo Verdict
Whilst it may not be market-leading, Alvexo is a good broker offering an immersive trading experience with easy to navigate platforms, multiple assets and accounts, plus competitive spreads. For active traders, in particular, the higher account tiers offer low trading fees and a wide range of financial instruments.
Accepted Countries
Alvexo accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Alvexo from United States, Israel.
Alternatives to Alvexo
If you are looking for alternatives to Alvexo we have compiled a list of the top 5 brokers that are similar to Alvexo below. This list of brokers like Alvexo is in order of similarity and only includes companies that accept traders from your location.
Fortrade – Fortrade is a multi-asset broker offering a simple live account with advanced tools.
AdroFX – AdroFX is a regulated, global broker offering forex, CFD and crypto trading with MT4 access and attractive welcome bonuses.
EZ Invest – EZ Invest is a CySEC-licensed broker offering trading on the financial markets.
TP Global FX – TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
SimpleFX – SimpleFX is a CFD broker offering its own SFX WebTrader platform & low fees.
FAQ
Where is Alvexo regulated?
Alvexo is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker is also regulated by the Financial Services Authority (FSA) of Seychelles. Alvexo is a legitimate online broker and not a scam.
Does Alvexo offer a demo account?
Alvexo offers users a free demo account on their web platform. Users will receive a £50,000 virtual balance to test the broker’s trading services.
How much capital do I need to trade with this Alvexo?
The minimum deposit for a Classic account is $500. The higher account tiers require larger minimum deposits, in excess of $20,000.
Does Alvexo accept US clients?
No, Alvexo’s services are not available to citizens from the US. Clients from Israel are also unable to open a trading account.
How can I delete my Alvexo account?
To delete an account users will need to email a request form to info@alvexo.com. The customer support team will then process the request.