ALFATrade

Note: AlfaTrade's official website: https://alfatraders.pro/ is currently inaccessible normal.

Founded in 2023, AlfaTrade is an unregulated broker registered in Saint Vincent and the Grenadines, claiming to offer trading on Currency, Stocks, Indices, Cryptos, and Commodities with leverage up to 1:1000 via a web-based trading platform. However, the minimum deposit requirement is as high as $5 000.

Pros and Cons

Is AlfaTrade Legit?

AlfaTrade is completely unregulated. The brand of AlfaTrade differs from the domain it uses.

What Can I Trade on AlfaTrade?

AlfaTrade offers a variety of trading products including foreign exchange, stocks, indices, cryptocurrencies, and commodities.

Account Type

AlfaTrade offers three different types of accounts and supports demo accounts.

Leverage

AlfaTrade offers a maximum leverage of 1000:1 for Forex trading, which is significantly higher than the industry average. For stocks and indices, the leverage ratio is also set at 100:1, while cryptocurrencies have a lower leverage limit of 10:1. Gold trading with AlfaTrade allows for a leverage of up to 100:1. It's important to note that these high leverage ratios can amplify both profits and losses, making trading riskier.

AlfaTrade Spreads

AlfaTrade's spreads for major currency pairs are relatively high. Traders can expect a spread of 1.5 pips for EURUSD, 3.5 pips for GBPUSD, and 3.0 pips for USDJPY.

Trading Platform

AlfaTrade promotes its trading platform as an advanced web-based software, but in reality, it is quite generic. Many similar platforms offer only limited functionalities.

Deposit and Withdrawal

AlfaTrade does not explicitly state whether it charges fees for withdrawals and deposits. Its minimum deposit amount is 5,000 USD.