Alfa Forex Account Types

Alfa-Forex offers one account type which can be traded in three different ways, each depending on the selected trading platform. Traders can choose between MetaTrader 4, MetaTrader 5 and ZuluTrade. 

Overall Rating

• 3.6/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

CySEC, CBR, SEC, FINRA

Trading Platform

MT4, MT5, Zulutrade

Crypto

Yes

Total Pairs

33

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Choose your quick section of our Alfa Forex Account Types below.

Alfa-Forex Account types – 6 key points quick overview:

1. Alfa-Forex Overview
2. Alfa-Forex Account Types
3. Alfa-Forex Account Features
4. Alfa-Forex Demo Account
5. Alfa-Forex Islamic Account
6. Alfa-Forex Pros and Cons
7. Conclusion
8. Frequently Asked Questions

Here is an overview of the Alfa Forex Account types as well as the treading features and benefits offered for each account.

Alfa-Forex Overview

Alfa-Forex is a leading global Forex broker first established in Russia but headquartered in Cypress. The broker has a special focus on traders from the European Union, Russia, and CIS. The broker has established a reputation as a reliable partner for dozens of banks and financial companies, while the interests of its clients are protected by the European standards adopted by its regulator, Cyprus Securities, and Exchange Commission (CySEC). The broker works hard to differentiate itself in the Forex trading industry, and to this end continuously develops new and improving existing financial products that allow for enhanced trading with maximum efficiency.

Alfa-Forex is a significant division of the Alfa Group, which was established in 1989 as one of the largest privately owned financial-investment conglomerates in Russia. At this point, the reliability of Alfa Group is rated A++ by Expert RA, a well-known rating agency. Being part of such a large and well-established parent company afford several significant benefits to Alfa-Forex clientele by working with one of the largest financial groups in Europe. Importantly, the high foreign exchange liquidity of a European bank rated ‘AAA’ allows traders to easily open and close positions of any value. This means that there are no restrictions when working with your investments on the Forex market.

Alfa-Forex is well-considered in the Forex trading industry for its high level of reliability, with thirty years of successful operations as part of the largest privately owned financial-investment conglomerates in Russia. The broker has extensive industry experience, a good reputation, and hundreds of thousands of global clients, all of which contribute to Alfa-Forex’s stable national and international outlook. The broker’s consortium has received AA- ratings from FitchRatings, with capital of more than R907.32 (exchange rate at the time of writing) billion and high foreign currency liquidity allowing the free opening and closing positions at any volume.

The full MetaQuotes suite of platforms represent innovative trading software that provide traders with access to more than 80 graphs and technical analysis tools. Users of both MetaTrader 4 and MetaTrader 5 can also change the timeline of the charts, ranging from 1 minute to 1-month graphs. Traders can program their own robot so that it opens and closes positions based on pre-established market conditions. Alfa-Forex only requires a deposit that is enough to trade the smallest contract size (0.01 lots), and spreads come in at around 0.7 pips for major currency pairs with commission-free trading across the broker’s accounts.

The broker’s website is a feature-rich platform that provides the live exchange rates and prices of each currency pair that they offer to account holders. Added to this, there are daily and weekly economic calendars that outline major events from all over the world. Users can customize the list based on country, category, and volatility, and choose the date range that you prefer and monitor upcoming (as well as previous) events. Beginner traders are afforded comprehensive educational material. This consists of video webinars about trading strategies, how the currency exchange market functions, and Q&A sessions where analysts interact with account holders.

Furthermore, a calendar of upcoming webinars is posted on the broker’s website, and it also offers training courses that are developed and designed by the Bank of Russia, which is the central bank of that country. Overall, traders of all varieties and experience levels are well catered for by Alfa-Forex. The broker provides numerous analytical features for advanced traders, and beginner traders can enjoy a variety of educational opportunities. The varied platform selection means that a wide range of trading strategies are supported, with copy trading also available from the ZuluTrade platform. This feature-rich trading environment is guaranteed by safe and secure regulation, for a well-supported and streamlined trading experience.

Alfa-Forex Account Types

Alfa-Forex offers one account type which can be traded in three different ways, each depending on the selected trading platform. Traders can choose between MetaTrader 4, MetaTrader 5 and ZuluTrade. Alfa-Forex offers a free demo account by which traders can test out the features of their selected platform against the trading conditions provided by the broker. Muslim traders can elect to open an Islamic, swap-free account, which will not incur interest on positions held open overnight

Alfa-Forex Account Features

Those trading with the MetaTrader 4 platform will have the following features:

Those trading with the MetaTrader 5 platform will have the following features:

The ZuluTrade platform has the following features:

Alfa-Forex Demo Account

The demo account from Alfa-Forex gives access to the MT4 trading platform. Using this software, beginner traders will be able to become better acquainted with its many features, charts, indicators, and time frames before using it in a live trading environment on the Forex market. Those who are already acquainted with the MT4 platform can use the demo account to test its features against the trading conditions provided by Alfa-Forex.

Alfa-Forex Islamic Account

Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law. With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide. Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.

Traders who wish to open an Islamic Account should apply directly to the accounts department via the email address supplied on the broker’s website. From here, you will be required to provide supporting documents that prove your religious status. The spread cost on the Islamic Account will be the same as that for the standard account, with average spreads starting at 0.7 pips for the EUR/USD.

Overall Rating

• 3.6/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 0

Regulators

CySEC, CBR, SEC, FINRA

Trading Platform

MT4, MT5, Zulutrade

Crypto

Yes

Total Pairs

33

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Alfa-Forex Pros and Cons

Conclusion

Alfa-Forex offers one account type which can be traded in three different ways, each depending on the selected trading platform. Traders can choose between MetaTrader 4, MetaTrader 5 and ZuluTrade. 

Alfa Forex Account Types vary according to what traders require, Alfa Forex works hard to differentiate itself in the Forex trading industry, and to this end continuously develops new and improving existing financial products that allow for enhanced trading with maximum efficiency.

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Frequently Asked Questions

How many instruments can I trade with Alfa-Forex?

Alfa-Forex offers traders a wide range of asset classes which consist of the following:

• Forex
• Metals
• Commodities
• Indices
• Stocks
• CFDs

Which platforms are supported by Alfa-Forex?

MetaTrader 4, MetaTrader 5, and ZuluTrade.

Does Alfa-Forex offer leverage?

Yes. Traders within the EEA will be able to apply for a maximum leverage of 1:30 as per ESMA regulations. Traders elsewhere and professional traders can apply for a maximum leverage of 1:200.

What spreads can I expect with Alfa-Forex?

Alfa-Forex charges standard spreads that start at 0.7 pips for EUR/USD.

Does Alfa-Forex charge commission?

No. Alfa-Forex appears to offer trading which is free of commissions.

Are there additional charges on the Islamic account?

No.

Is Alfa-Forex regulated?

Yes. Alfa-Forex is regulated by the Cypress Securities and Exchange Commission (CySEC), which requires that brokers have special protocols in place to ensure the protection of client funds.

These include the storing of client funds in segregated accounts with top-tier banks as part of the anti-money laundering policy which prevents misappropriation on the broker’s part.

Furthermore, Alfa-Forex participates in a client compensation scheme, whereby clients will be covered for their deposits in the unlikely event of broker insolvency.