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Alfa Financial Review - is it scam or safe?

Alfa Financial review - Is scam or good forex broker?

RATING: 2.5 / 0 REVIEWS Alfa Financial


Alfa Financial is a forex and CFD broker licensed to operate in the United Arab Emirates. The broker offers a good variety of currency pairs, CFDs and futures with a leverage of up to 1:100 and a choice between AX1 Trader and the MetaTrader4 trading platforms. Here are some details about their offer.


Account type Min. deposit Max. leverage Spreads
Standard Account $10 000 1:100 n/a


Alfa Financial Advantages:


Regulated in UAE


Alfa Financial, which is owned by Alfa Financial L.L.C., is authorized and regulated by the Central Bank of the U.A.E. as a Financial and Monetary Intermediary. That means the broker has a license to offer its services in the United Arab Emirates. 


The Central Bank of the U.A.E. has a relatively strict regulatory regime, with a  minimum operational capital requirement for at least 1 million dirhams or about 272 000 USD. For comparison the minimum operational capital requirement with all regulators throughout EU, such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) is 730 000 EUR. 


Besides, here you may also check our list of FCA regulated brokers, where among other benefits your deposit will be insured for up to 50 000 GBP:


>>FCA Regulated Forex Brokers<<


A variety of currency pairs, CFDs and futures


Alfa Financial offers nearly 40 currency pairs, including majors, crosses and exotics like USDZAR, USDTRY, USDSGD, USDSEK, USDNOK, USDMXN, USDINR and USDDKK. And they also offer CFDs on precious metals, commodities and indices, as well as futures on currencies like the Australian Dollar, British Pound, Euro, Swiss Franc, Japanese Yen, New Zealand Dollar and the Canadian Dollar, indices like Nikkei, DAX, FTSE and EBUND, precious metals like gold and silver, energy products like Brent crude, crude oil, natural gas etc., commodities like corn, wheat, coffee and sugar, and various other futures contracts that are traded regularly in the market. But as there are no crypto assets in the list, here you may also check our list of brokers offering Bitcoin CFDs:


>>Bitcoin Forex Brokers<<


Leverage of up to 1:100


Leverage of up to 1:100 is perfectly enough to fit even the most aggressive trading style. Still you should keep in mind that higher margin trading comes with a higher risk so you should use leverage with caution.


MetaTrader4 supported


With Alfa Financial you have a choice between two trading platforms - AX1 Trader and MetaTrader4 


AX1 Trader is a highly flexible exchange trading software with lots of modules, providing a wide range of customizable solutions. MetaTrader4 on the other hand is probably the most popular trading platform with user friendly interface, advanced charting tools, lots of market indicators and even trading robots with which one can easily run automated trading sessions. Here you may also check our list of brokers supporting the metaTrader4:


>>MT4 Brokers<<


Alfa Financial Disadvantages:


Excessive minimum deposit requirement


Alfa Financial asks for a minimum deposit of 10 000 USD and that in our view is excessive. Have in mind that with most brokers you can open a trading account with about 250 USD, while with some well established companies like FBS and IG you can start trading with virtually 5 USD.


No information about the payment methods accepted


That is also a negative point as we are not sure how you will be able to deposit and withdraw funds with  Alfa Financial. Most brokers accept payments with major cards like VISA and MasterCard, bank wire and e-wallets like Neteller and Skrill. And some even accept payments with crypto coins so here you may also check our list of brokers accepting bitcoins:


>>Forex Brokers Accepting Bitcoin<<


We were not able to immediately open a demo account


As we were not able to open a demo account, we can not discus the spreads offered by Alfa Financial. Just have in mind that starting spreads are considered attractive only below 1,5 pips. And here you may also check our list of brokers offering tighter spreads:


>> Lowest spread forex brokers<<




The fact that Alfa Financial is regulated by the Central Bank of the UAE means that you will not have to worry about the safety of your deposit. The presence of MetaTrader4 is also a positive sign, as well as the option to trade with a relatively high margin. Still we have not seen the spreads and the minimum deposit requirement is definitely excessive.

Latest news about Alfa Financial
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