de | cn | ru

Al Trade Review - Is it scam or safe?

Al Trade Review - is alforex.com scam or good forex broker?

RATING: 2 / 0 REVIEWS Al Trade
Al Trade is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

 

Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads
Micro $20 0.01 1:500 From 1.0 pips
Mini $200 0.01 1:200 From 0.8 pips
Standard $2500 0.1 1:200 From 0.5 pips

 

Al Trade offers its clients a choice of three basic account types. All of them offer commission-free trading on the MetaTrader 4 (MT4) platform. Micro tradable lots are offered to both Micro & Mini account holders, who are unwilling to trade in large volumes. Besides, PAMM accounts are also available with this broker.

 

As regards the cost of trading, Al Trade claims that it offers tight variable spreads, starting from 0.8 pips on Mini accounts. When we tried out its demo account, however, spreads turned out to be fixed at 1.5 pips for the EUR/USD, which in fact is not bad at all. Most fixed-spread brokers usually provide a 2 or 3 pips spread for this currency pair.

 

The highest leverage levels available with this broker, are 1:500 (in the Micro account type). Bear in mind that the higher the leverage, the greater the risk.

 

The Company. Security of Funds

 

On-line since 2003, Al Trade offers trading in a number of currency pairs and various CFDs, as well as precious metals on the industry’s standard MT4. Binary options are also available on a separate web-based platform.

 

Behind this brand is AL Trade Inc., a London-based company, which is not regulated by any authority.

 

In case you are planning to invest more than 20 bucks, we would advise you to select a more reliable brokerage that is duly regulated and authorized to provide financial mediation services. For instance, regulation in Australia, and UK is well-balanced and there are a bunch of trustworthy licensed brokers there.

 

Trading Platforms

 

Al Trade supports the popular MetaTrader 4 (MT4) trading platform, available as a desktop download and mobile trading apps.

 

MT4 is the preferred trading software of most traders and that is why it is offered by most brokerages. The platform provides all the necessary tools and resources for traders to analyze price dynamics of financial instruments (such as advance charting options, built-in indicators, back-testing tools), execute trade transactions and create & use automated strategies (Expert Advisors or trading robots).

 

Promotions

At the time of writing this review, Al Trade offers a 60% deposit bonus up to $6000.

 

Methods of Payment

 

Al Trade offers its clients the following payment options: via credit/debit card, wire transfer, and WebMoney.

 

Conclusion

 

Al Trade is a London-based forex and CFD broker which operates for more than 10 years and yet, it is not licensed by FCA, nor by any other regulatory body. To sum things up, here are the advantages and drawbacks with regards to Al Trade:

                                           

Pros Cons
MT4 available

Not regulated

Low initial deposit No choice of trading platforms
High leverage levels  
Bonuses available  

 

Latest news about Al Trade
No news about Al Trade . Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for Al Trade

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru