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Alvexo Review: Regulation, Deposit, Withdrawal

Alvexo Review: Regulation, Deposit, Withdrawal and Bonus

RATING: 2.6 / 0 REVIEWS Alvexo
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Trading Accounts

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Spreads
Classic $500 0.01 1:300 3.3 pips, fixed
Gold $2 500 0.05 1:300 2.2 pips, fixed
ECN $ 5000 0.05 1:300 From 0.1 pips + 1.8 pips commission
Prime $10 000 0.25 1:300 From 1.8 pips

 

Alvexo offers its clients a choice of four basic account types.  All of them offer leverage up to 1:300 and trading signals for free on the MetaTrader 4 platform (as well as on WebTrader, powered by Sirix). Micro lots are available for trade on all account types, except the Prime one. Spreads and commissions (if any) vary by account type and are reviewed in detail below.

 

The Company. Security of Funds

 

 

Company Country Regulation
VPR Safe Financial Group Cyprus CySec


Alvexo offers trading in wide range of currency pairs, precious metals, as well as share, index and commodity CFDs on indices, commodities and American and European stocks. The company behind the brand, VPR Safe Financial Group Limited is a Cyprus Investment Firm that is licensed by Cyprus Securities and Exchange Commission (CySEC) since 2014. It has offices in UK, France, Sweden, Romania, Italy, Spain, Bahrain, and South Africa.

 

CySEC requires Cyprus Investment Firms to maintain net tangible assets of at least €730,000, to keep customer funds in segregated accounts, separated from the company’s operating funds, and to provide reports on trades and accounts on a regular basis, among other things.

 

As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which can pay compensation up to €20,000 EUR per person, If the company ceases trading or becomes insolvent.

 

Moreover, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services in all EU Member States.

 

Trading Conditions

 

Minimum Initial Deposit

In order to open an account with Alvexo, traders have to invest a minimum of $500. Such minimum initial amount relatively high, as many other Cyprus-based brokers require less. For instance, leading EU brokerage XM demands just $5 from its clients as a start.

 

Spreads & Commissions

Alvexo offers both fixed and floating spreads, which vary by account type. Unfortunately, all of them appear comparatively high. Fixed spreads on Classic and Gold account types are above 2 pips for the EUR/USD pair, and variable ones on the prime account start at 1.8 pips.

 

The best spreads are available on ECN accounts, starting from 0.1 pips on EUR/USD, however, a commission of 1.8 pips applies, so trading costs are still high.

 

By comparison, XM’s average spreads on the commission-free accounts amount to 1.7 pips on EUR/USD, while the ones on the Zero account type are averaged 0.1 pips on EUR/USD and involve commission of $5 per standard lot (per side).

 

For more information, you may look up real-time spreads of 15 leading brokers here.

 

Leverage

The maximum leverage level offered by Alvexo is 1:500, which is a high ratio. However, many Cyprus-based brokers offer similar or higher leverage levels - for example, XM provides leverage up to 1:888. For further information, you can check out a list of brokers, providing leverage equal to or exceeding 1:500 here.

 

Undeniably, high leverage provides opportunities of earning good profits on a small deposit. Nonetheless, we advise traders to be careful when using it, as higher leverage also involves greater risk of losses, which may even exceed the initial investments. 

 

Trading Platforms

 

Like most brokers, Alvexo supports the MetaTrader4 (MT4), available as a PC, and mobile versions. Besides, it offers a web-based platform, powered by Sirix.

 

MT4 is an internationally acclaimed trading terminal, offering a full spectrum of trading tools and resources: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work.

 

The Sirix web platform, on the other hand, is simple and easy to use and does not require installation of any software.

 

 

 

Methods of Payment

 

Payment methods available to Alvexo clients are quite limited: credit/debit cards, bank wire transfer and CashU. Popular e-wallet payment systems, such as Skrill & Neteller are not supported by this broker.

 

Currencies accepted: USD/ EUR.

 

Conclusion

 

Alvexo is a well-regulated forex & CFD broker that utilizes the popular MT4. Unfortunately its spreads are above average. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

 

Pros  Cons
Well-regulated Wide spreads
High leverage levels offered   Relatively high initial deposit required
MT4 available   Limited payment methods
ECN environment offered High ECN commission 

                                                                                                                                                                               

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Traders` reviews for Alvexo

Spread

Pros

Cons

 

 

Slippage

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Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

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