Min Deposit
USD 20
Regulators
Not Regulated
Trading Platform
MT4
Crypto
No
Total Pairs
30
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
AL TRADE offers a safe and reliable environment for online trading and aims at providing competitive trading conditions through low spreads, mobile trading, and other advantages.
A Quick Overview of our AL Trade Review:
- ✔️Who is AL Trade?
- ✔️Safe or Scam
- ✔️Pros and Cons
- Leverage
- Accounts
- Market Instruments
- Fees
- Deposit and Withdrawal
- Trading platforms
- How to open an account
- Customer Support
- Education
The AL TRADE platform is equipped with the latest functions and parameters that provide clients with a personalized service tool. Multilingual teams of experienced professionals with expertise in trade, finance and IT provide their services to clients.
Who is AL Trade?
According to research in South Africa AL TRADE or ALForex was established in 2003 and has its headquarters in London, United Kingdom.
AL TRADE offers its corporate and private clients round-the-clock trading with various currency pairs, as well as in Gold (Spot), Silver (Spot), and CFD on DAX futures through the MetaTrader 4 trading system online and in real-time.
An AL TRADE account offers trading with currencies, Binary Options, precious metals (Spot), or CFD for DAX futures and all of these instruments are accessible through a single trading terminal. Clients can trade accounts in Euros or US dollars.
Customers have full control over the ability to close or hedge positions in order to reduce risks.
Safe or Scam
One of the best benchmarks to measure the safety of a broker like AL TRADE is to establish which regulating authorities are watchdogs over its actions.
AL TRADE Inc., a London-based company, is not regulated by any authority.
AL TRADE Inc. is an independent currency market maker that offers its clients tax-free jurisdiction and full confidentiality. AL TRADE Inc. does not report to any taxation agency on customer trading or divulge any other confidential customer information.
Min Deposit
USD 20
Regulators
Not Regulated
Trading Platform
MT4
Crypto
No
Total Pairs
30
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Pros and Cons
| PROS | CONS |
| 1. MT4 available | 1. Not regulated |
| 2. Low initial deposit | 2. No choice of trading platforms |
| 3. High leverage levels | |
| 4. Bonuses available |
Leverage
Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.
AL TRADE offers a maximum leverage ratio of 1:500 (in the Micro account type).
Accounts
A forex account at AL TRADE is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.
Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.
Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.
AL TRADE offers a choice of three basic account types – Micro, Mini or Standard accounts. All of them offer commission-free trading on the MetaTrader 4 (MT4) platform.
Micro tradable lots are offered to both Micro and Mini account holders, and PAMM accounts are also available.
Account types and features:
Micro Account
Minimum deposit $20
Maximum leverage 1:500
Average spreads from 1.0 pips
Mini Account
Minimum deposit $200
Maximum leverage 1:200
Average spreads from 0.8 pips
Standard Account
Minimum deposit $2500
Maximum leverage 1:200
Average spreads from 0.5 pips
Market Instruments
The most popular market instruments available from most brokers for trading include:
Forex:
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices:
Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.
Precious metals:
The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy:
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.
AL TRADE offers more than 30 forex currency pairs, CFDs, binary options, Metals (gold and silver) and other trading instruments.
Fees
Cost depends on different factors, like spread and margins, and AL TRADE clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.
AL TRADE claims that it offers tight variable spreads, starting from 0.8 pips on Mini accounts. Average spreads on the Micro account are from 1.0 pips and from 0.5 pips on the Standard account.
Deposit and Withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.
AL TRADE offers its clients the following payment options: via credit/debit card, wire transfer, and WebMoney.
The minimum deposits required for the different accounts are $20 for the Micro, $200 for the Mini, and $2500 for the Standard accounts.
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Trading platforms
The forex trading platform provided by AL TRADE to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
AL TRADE provides the popular MetaTrader 4 (MT4) trading platform, available as a desktop download and mobile trading apps.
MT4 provides all the necessary tools and resources for traders to analyze the price dynamics of financial instruments, execute trade transactions and use automated strategies.
How to open an account
Similarly to a bank, to register a forex trading account with AL TRADE for the first time, you will be required to go through a basic “know your customer” process, which will allow AL TRADE to ascertain that your submitted details and ensure the safety of your funds and account details.
Customer Support
Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.
In the case of AL, TRADE customers can reach the support team via phone during business hours.
Education
Before starting to trade, potential clients of AL TRADE should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
AL TRADE offers basic information and explanations about forex trading to new customers.
Research
To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitable as possible.
With AL TRADE they have access to the expertise of an experienced team and tools provided by the trading platform.
Awards
Being an awarded company instills extra confidence by traders. Although AL TRADE is acclaimed by customers, there is no indication of awards won on its homepage.
You might also like: AL TRADE Account Types Overview
You might also like: AL TRADE Demo Account
You might also like: AL TRADE Fees and Spreads
You might also like: AL TRADE Islamic Account Overview
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You might also like: AL TRADE Sign up Bonus
Conclusion
AL TRADE can be described as a company with advantages but also several drawbacks.
AL TRADE is a London-based forex and CFD broker which has been operating for many years, yet it is not licensed by FCA or by any other regulatory body.
Traders access the market using AL MetaTrader 4 trading system that features an advanced technical analysis system and a trading terminal operating in real-time mode.
AL TRADE’s services include low spreads, mobile trading, and other trade advantages like
the ability to work with different financial instruments in a single account and to trade in different currencies.
A free demo account is offered for those wishing to measure how risky Forex trading may be or how it works.
Min Deposit
USD 20
Regulators
Not Regulated
Trading Platform
MT4
Crypto
No
Total Pairs
30
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Disclaimer
AL TRADE warns potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.
Before deciding to trade with AL TRADE, potential Traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
AL TRADE warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence AL TRADE cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
FAQs
TRADING ENVIRONMENT
- How many instruments can I trade with AL TRADE?
You can trade several different instruments with AL TRADE, which include the following:
- 30 forex currency pairs,
- CFDs,
- Binary options,
- Metals (gold and silver).
- Which platforms are supported by AL TRADE?
AL TRADE provides the following popular trading platforms:
- MT4
- Does AL TRADE offer leverage?
Yes, AL TRADE offers maximum leverage of 1:500
- What spreads can I expect with AL TRADE?
AL TRADE offers spreads from 0.5 pips. If details on the website is not comprehensive, more information can be obtained from the customer support service.
- Does AL TRADE charge commission?
No, more information on commissions can be obtained from the customer support service.
- Is AL TRADE regulated?
No.
- Is AL TRADE a recommended forex trading broker for experts and beginners?
AL TRADE offers a fair trading environment for all types of traders.
- What is the overall rating out of 10 for AL TRADE?
5/10
ACCOUNTS
- What is the difference between a demo and live trading account?
A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.
Does AL TRADE offer a demo account?
Yes
- How long is the demo account valid?
The demo account can be used for 90 days.
- Which live trading accounts does AL TRADE offer?
- Micro Account
- Mini Account
- Standard Account
- What are the available deposit currencies for a live trading account?
USD, EUR, RUR, GBP,
DEPOSITS AND WITHDRAWALS
- What is the minimum deposit for AL TRADE?
$ 20
- How do you make a deposit and withdrawal with AL TRADE?
AL TRADE offers the following deposit and withdrawal methods:
- Credit/debit card,
- Wire transfer
- WebMoney.
Withdrawals can be done via:
- Credit/debit card,
- Wire transfer
- WebMoney.
- Does AL TRADE charge withdrawal fees?
No, but fees from financial institutions may apply.
- How long does it take to make a withdrawal?
Depending on bank services it may take several days for the money to be available.
AL TRADE AT A GLANCE |
|
| Broker’s Name | AL TRADE |
| Headquartered | London, United Kingdom |
| Year Founded | 2003 |
| Regulating Authorities | Not regulated |
| Countries not accepted for trade | United States |
| Islamic Account (Swap Free) | No |
| Demo Account | Yes |
| Institutional Accounts | No |
| Managed Accounts | No |
| Maximum Leverage | 1:500 |
| Minimum Deposit | $20 |
| Deposit Options | Credit Card, PayPal, Wire Transfer |
| Withdrawal Options | Credit Card, PayPal, Wire Transfer |
| Platform Types | MT4 |
| OS Compatibility | Web, Windows and mobile |
| Tradable Assets | 30 forex currency pairs,
CFDs, Binary options, Metals (gold and silver). |
| Languages supported on Website | Arabic, English, German, Italian, Russian |
| Customer Support Languages | English, Russian, German, Italian, Arabic |
| Customer Service Hours | 24 hours per day five days a week |
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