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BROKER REVIEW

ALVEXO

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June 15, 2020 | 

JOHN K MWANIKI |  0 Comments | 

3044 Views

ALVEXO BROKER REVIEW

Our Pick

Mimimum Deposit

$500

Crypto

currency
currency
currency
currency
currency

Regulation

country

Our Score

9.4

Started in 2014, in Cyprus, Alvexo is a leading trading platform which attributes its fast growth to several trading commodities, interactive website, and educational materials. With the site targeting both novice and professional traders, it has a variety of accounts trading different assets based on experience and needs.

The company provides one of the most involving onboarding process. It allocates dedicated customer personnel to every account for a limited period. The trader can use this period to know everything about the site.

However, the site comes with a higher minimum deposit and trading fees that might be a little tough for most traders. Also, over 79% of traders lose when trading with Alvexo.  

Pros

Cons

Proper educational materials

Not available in the US

Offer micro slots

High minimum deposits

Incredible customer service

Limited payment options

Easy to use website

Competitive leverage levels

Regulation and Security

By falling under an investment firm, VPR Safe Financial Group, the platform complies with all the financial regulations in Cyprus and the other European Union nations. It is regulated by the Cyprus Security and Exchange Commission with a license number 236/14.

Alvexo complies with the EU Directive to be part of an investor compensation fund, keeping investors safe from default by up to 20000 Euros. Following the EU’s Markets in Financial Instruments Directives, the site provides for investor protection through segregated client accounts.

The Financial Services Authority of Seychelles also regulates the platform among other several regulatory bodies. Still, there is a need for the clients to do proper due diligence to full-proof investment safety.

Fees

Trading at Alvexo is a little costly compared to most of the other trading platforms. The site collects spreads and other commissions from the different assets. The fees depend on the account type and the assets traded.

It also charges a commission on equity of around 0.025 to 0.015 per share. Acting as a count-party to the trading allows it to benefit from the losses of the traders.

The site also provides for payable swaps and corporation action applicable to the equity and index CFDs.

Account Types

Alvexo has up to 5 different trading accounts that come with distinct minimum deposit provisions and the available trading assets. The lowest is the Classic account that requires 50 GBP for a minimum deposit while providing spreads from 3.3 pips.

The account allows for trading of forex, index commodity, and cryptocurrency CFDs. The next account is the Gold, which provides for 5000 Euros as a minimum deposit with spreads of 2.2 pips. The account allows a stop-out level of 15% different from the classic one of 50%. The trading lot size in this account is 0.05.

The prime account, on the other hand, requires a minimum deposit of 10000 GBP with a minimum spread of 1.8pips. It also has an increase in trading lots to 0.25. The site also provides for an ECN Gold account that comes with a minimum deposit fee of 20000 GBP.

IT allows equity CFDs and comes with a spread of 0.0 pips. Lastly, the site provides the ECN VIP account as the most high-end. The minimum deposit is available upon request and allows for trading in all the commodities available on the platform.

Alvexo also provides for an Islamic account, run under the sharia laws. It provides for zero commissions and interests based on the Islamic faith.

Classic

Gold

Prime

ECN Gold

ECN VIP

Minimum deposit (GBP)

500

5000

1000

20000

Available on request

Spreads from (pips)

3.3

2.2

1.8

0.0

0.0

Leverage

Up to 300:1

Up to 300:1

Up to 300:1

Up to 300:1

Up to 300:1

Minimum Lot

0.01

0.25

0.25

0.05

0.25

Stop out level

Up to 15%

Up to 15%

Up to 15%

Up to 15%

Up to 15%

Financial Instruments

Commodities, forex, indices, cryptocurrency indices

Indices, Forex, Commodities, Cryptocurrencies

Indices, Forex, Commodities, Cryptocurrencies

Indices, Forex, Commodities, Cryptocurrencies, stocks, bonds

Indices, Forex, Commodities, Cryptocurrencies, Cannabis stocks, bonds, US&EU stocks.

Deposit and Withdrawal

The deposit and withdrawal platforms are areas where Alvexo does not get it right, compared to the other trading platforms.

Even though users have a variety of deposit options like bank wire transfer and credit and debit cards, the site does not provide extensive information. It provides for a dedicated deposit fee once the user logs in the account.

Withdrawing funds from the site are not one of the seamless processes. It requires verification by providing identification documents. The amount takes 3 -5 business days to reflect on the personal account.

Trading platforms

Alvexo operates on two leading trading platforms. The first is the renown MetaTrader 4, which is common among the other trading platforms.  This platform comes with advanced charts, built-in technical indicators, automated trading bots, fast execution, and order placement.

It is quite user-friendly and allows for easy monitoring of trading performance. The platform enables traders to use technical analysis in setting up automated trading.

The company also has an in-house web-based platform called Alexo WebTrader.  The platform comes with several functionalities like faster price updates, a secure deposit of funds, and integration with social media for speedier information updates.

Accessing this platform is quite easy immediately one login on the trading area.

Alvexo makes it easy to trade from mobile devices by providing mobile applications for both android and iOS.  The app comes with multiple features like access to market, charting, alerts, and daily signals.  

Alvexo also has high-end social network trading. It allows for interactions among the multiple traders from whichever country.

Communication enables traders to learn from each other by watching their trading tendencies. It also promotes collaboration and sharing of ideas.

The only concern that comes with Alvexo's trading platform is that it does not support most third-party plugins. This reduces its competitive edge.

Market and Products

Trading at Alvexo is the real deal as it provides for multiple assets that allow for trader diversification. With over 450 assets, the site has an extensive list of forexes, cryptocurrencies indices, and commodities that makes for convenient trading.

However, locating these commodities is not the easiest of tasks. The site lists only a few significant assets; thus, the user has to dig deeper into the pages for the multiple remaining ones. The more natural way to locate the assets, therefore, is using the search button.

The costs of trading depend on the assets and the account generally, though the site provides a spread of 2.2 pips for gold accounts, 1.8pips for prime accounts, 3.3pips for classic accounts, and 0 pips for the ECN VIP and gold accounts.

Product

Alvexo

Forex

USD.RUB, NZD.CHF, AUD.NZD, EUR.CZK, GBP.JPY

Indices

US Dollar index, DAX 30, E-mini S&P 500, Tadawul All Share Index

Shares

Aareal Bank AG, Associated British Foods, Goldman Sachs, GW Pharmaceuticals, 3M Company.

Crypto

BTC.USD, DASH.EUR, MXR.EUR, LTC.BTC

Commodities

Crude oil, coffee, copper, Netflix, natural gas, Gold, Saint Gobain

Customer Service

Alvexo boasts a reliable customer service with timely information to users at most times. It also has an in-depth blog dedicated to trading. The traders can get all the useful information and guidance from the blog.

The site provides a toll-free line for users in multiple countries. They have knowledgeable customer care personnel to assist users on the line.

Alvexo has an active social media presence on all the major sites. It also provides online contact forms and emails in multiple languages.

The site also allows TeamViewer access for customer assistance for those willing to share their screens with their support.

The only downside with Alvexo’s customer service is that it does not indicate the operational hours. Thus, one is never sure the most appropriate channel of communication to use at what time.

Also, unlike the other brokers, Alvexo does not have a detailed FAQ page, making it a little hard to access information faster.

Service

Alvexo

Live chat

Available

Blog

Updated

Multiple languages

Present

Phone

Available

Mail

Available

Detailed FAQ

Not well detailed or updated

Team Viewer

Available

Research and Education Materials

Alvexo has one of the most intense trainings and research facilities in the trading world. It has a team of experienced analysts who provide continuous market trends for millions of users. They offer different weekly reports and daily analysis.

The company also helps traders observe signal trading and other global market trends to make ideal market decisions. The site also provides an easy to access trading calculator with an economic calendar.

The Alvexo academy is another educational feature that sets it apart from the other competitors. The academy is home to multiple high-quality videos and written educational material. Besides, the site has an updated blog with in-depth articles for the use of the traders.

It also provides for tutorials, glossary, and a FAQ page.  All these materials are presented in a well-designed page with easy to read font and format.

The only concern that comes with learning in the academy is the marketing-centric setup. The learning materials are embedded with several marketing features, making it easily distracting.

Summary

Alvexo is a leading trading platform which has invested in several high-end features for the best trading experience. It provides several user accounts, depending on needs and budget. It also offers exceptional customer service.

It also has its fair share of concerns like high costs of services and little withdrawal and deposit information.

Ultimately, the pros outweigh the cons, which makes it a trading platform worth checking out. 

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