One of the largest Forex brokers in Europe is Alfa-Forex. The affinity of the company with the famous Alfa-Bank has certainly made it easier to break through on the foreign exchange market. Alfa-Forex is part of Alfa-Bank, and both are part of the investment conglomerate Alfa Group, which has stakes in banking, investment, insurance, waterworks, and even supermarket chains. Alfa-Forex has been operating since 2003.
In late 2015, Alfa-Forex completed its client transfer process into Alfa Capital Holdings (Cyprus), meaning from that moment and on it was regulated by CySEC – Cyprus Securities and Exchange Commission. CySEC is a regulator of financial markets operating on the foreign exchange and stock market (in Cyprus and EU countries) and enforces subsequent control, audits subordinate companies, detects offenses by the company and transfers materials for subsequent proceedings in government agencies, imposes penalties in case of violations (disciplinary and administrative). CySec regulates the business of HYCM (Europe) Ltd (license number 259/14).
While most of the client base is European based, Alfa-Forex accepts and welcomes clients from across the globe. When the decision to trade via Alfa-Forex is made, traders are given a choice from the following trading terminals:
All of the above platforms have dedicated mobile applications. With Zulutrade, the TradeWall option is available, with which you can see real-time transactions made by traders from the top of the ratings. Additionally, users are provided the opportunity to invest in PAMM accounts. The minimum deposit for a Zulutrade account is $300.
The following trading tools are available to traders:
The account type is determined by the platform you will be using. A demo account is also available in the event that you want to test how everything works and get a feel for the market first. Everything you need to know about these platforms:
Minimum deposit: $0
Leverage: up to 1:200
Spread: from 0.7 points
Minimum lot: 0.01
There are currently no bonuses or promotions in effect for Alfa-Forex
You can open an account on the broker’s site and register within a few minutes. The broker does not impose any requirements on the minimum deposit amount for customers, which will no doubt please some of the new traders who only a small amount of start-up capital to spare. The three currencies you can use with your account are the Russian ruble, euro and dollar. The account can be replenished using:
The withdrawal of the profits is possible via bank transfers. All transfers via Alfa Bank cards are made without a fee, while the rest have a commission applied to them. The waiting period is usually 2-5 business days long. If you are looking for a way to withdraw to your e-wallets here, you came to the wrong place.