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Alvexo is a Forex broker located both in Cyprus and in the Seychelles, whose activities are regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of the Seychelles (FSA). The Alvexo broker accepts clients from all over the world, with the exception of the United States and some other countries where restrictions apply.
Is Alvexo a regulated broker?
The Alvexo Group of Companies was founded in 2014. It includes two brokerage companies:
- Alvexo CY is located in Cyprus and is regulated by CySEC;
- Alvexo SEY is located in the Seychelles and is regulated by the FSA.
Keep in mind that Alvexo CY has some trading restrictions due to the influence of the European Securities and Markets Authority (ESMA). At the same time, Alvexo SEY accepts almost all traders and has no trading restrictions.
What is the maximum leverage in Alvexo?
The leverage for traders from EU countries is limited to 1: 30 for major currency pairs in accordance with the ESMA rules. However, international traders can open an account in the Seychelles and have the opportunity to use a leverage of up to 1:300.
What types of accounts does Alvexo offer?
After registration, new customers get a choice between four different trading accounts:
- Classic. The minimum deposit is 500 euros, the spread is from 2.9 points.
- Gold. The minimum deposit is 10,000 euros, the spread is from 2.2 points.
- Prime. The minimum deposit is 50,000 euros, the spread is from 1.8 points.
- Elite. Check the minimum deposit by calling the broker, the spread is from 0.1 points.
Spreads and commissions
Spreads on trading instruments start from a relatively high 2.9 points for a classic account to 0.1 points for an Elite account. Thus, Alvexo is a broker that does not offer the best spreads. Compared to competitors, the spreads here are at a high level, and spreads above 3 points really make trading unprofitable in short-term trading.
One of the main advantages of Alvexo is a fairly good selection of trading tools that the broker offers. You can choose from shares of more than 300 companies registered in the United States, Great Britain and the EU. In addition, the broker also offers a fairly wide selection of currency pairs, cryptocurrencies, major stock indices and commodities.
Alvexo Trading Platforms
As for trading platforms, Alvexo offers the popular MT4 platform in addition to its own proprietary mobile trading application available for Apple and Android devices. The most noteworthy is that the mobile application is configured to receive daily market analysis (signals) from the broker, as well as real-time warnings and certain risk management functions that are not available on most other mobile trading platforms. In addition, traders have access to the convenient Alvexo WebTrader platform for trading via a browser.
What is the minimum deposit in Alvexo?
The minimum deposit in Alvexo is 500 euros. Deposits are accepted via bank transfer, credit and debit cards, as well as Skrill and PayPal e-wallets.
In conclusion, we can say that Alvexo does not have the best spreads in the industry, although they are still daleks from the worst. One of the advantages is the broker's mobile trading platform, which is quite convenient and multifunctional for a proprietary platform. Thus, this broker may be a suitable choice for new traders who like the opportunity to trade on their phone on the road.
Before choosing a broker, we recommend that you read the reviews of Alvexo, as well as see our rating of Forex brokers.
|General information of Alvexo|
|Year of foundation||2014|
|Trading Platforms||MT4, WebTrader|
|EURUSD Spread||2.9 pips|
|Base currencies||USD, EUR|
|Assets||Currency pairs, stocks, indices, commodities, cryptocurrencies|
|Deposit replenishment||BankTransfer, Visa/MasterCard, Skrill, PayPal|
|Payment for inaction||—|
- The year of Foundation 2014
- Head office address 1 Agias Fylaxeos Street, Limassol 3025 Cyprus
- Maximum leverage 1:300
- Min. Deposit $500
- Regulation CySEC, FSA
- Trading platform
- Payment system to enter Bank Transfers, Debit/Credit Cards , PayPal, Skrill
- Payment system for withdrawal Bank Transfers, Debit/Credit Cards , PayPal, Skrill
- Number of trading instruments 58
- The number of CFD instruments 300
- The number of metals 2