Alvexo has been around since 2014 as an online brokerage service based in Limassol, Cyprus and specializing in providing a transaction service for forex and financial markets traders.
The broker is owned by VPR Safe Financial Group Limited that operates as an Investment Firm in Cyprus under CySEC’s oversight and has registration number HE322134, while Alvexo does business under CySEC’s license number 236/14.
Alvexo’s official website can be found at http://www.alvexo.com, and a home page screenshot appears below:
Please note that Alvexo does not accept U.S. clients. Therefore, those located in the United States should choose another top rated broker.
In addition to facilitating transactions in over 40 currency pairs in the forex market, Alvexo offers clients the ability to trade over 100 other assets, including commodities, stocks and indexes. Those opening the broker’s Prime and ECN accounts can also trade cryptocurrencies and CFDs.
An attractive feature of trading through Alvexo involves accessing top quality pricing and fast execution using its Straight Through Processing (STP) No Dealing Desk (NDD) broker model. ECN or Electronic Communication Network execution is also possible with the ECN account type the broker offers.
Although Alvexo charges volume-based commissions on some of its account types, the company allows the holders of certain account types access to very tight dealing spreads as a way of compensating.
Alvexo offers five different types of accounts: four live funded account types and a free demo trading account. The demo account comes complete with access to the broker’s proprietary web-based trading platform and is funded with $50,000 of virtual money.
Live accounts require a minimum initial deposit of at least $500 and can be funded through credit or debit cards, certain e-wallets or a wire transfer. The maximum leverage on live Alvexo accounts is 300:1.
Alvexo offers the following four types of live STP accounts:
- The Classic Account
Suitable for those with an initial deposit of $500, this account type has a minimum dealing amount of 0.01 lot and dealing spreads starting at 3.3 pips. No commissions are charged, with leverage of 1:2 to 1:30. Stop Out 50% and Margin Call 80%. Extra features include free trading signals.
- The Gold Account
Suitable for those with an initial deposit of $2,500, this account type has a minimum dealing size of 0.05 lots and dealing spreads starting at 2.2 pips. A volume based commission is charged, with leverage of 1:2 to 1:30. Stop Out 50% and Margin Call 80%. Extra features include: free trading signals, one-on-one support, an economic calendar, SMS capabilities, and technical analysis.
- The ECN Account
Suitable for those with an initial deposit of $5,000, this account has a minimum dealing size of 0.05 lots and dealing spreads starting at 0.0 pips. A volume based commission is charged, with leverage of 1:2 to 1:30. Stop Out 50% and Margin Call 80%. Extra features include free trading signals, technical analysis, a direct line to Senior Account Managers with one-on-one support, an economic calendar and SMS capabilities.
- The Prime Account
Suitable for those with a minimum deposit of $10,000, this account type has a minimum dealing size of 0.25 lots and dealing spreads starting at 1.8 pips. A volume based commission is charged, with leverage of 1:2 to 1:30. Stop Out 50% and Margin Call 80%. Extra features include free trading signals, technical analysis, a direct line to Senior Account Managers with one-on-one support, an economic calendar, SMS capabilities, and technical analysis reports.
Making an initial deposit for a live trading account at Alvexo can be done using a Visa or MasterCard credit card, certain debit cards and e-wallets, or by using a wire transfer. Deposited funds typically get credited immediately to your account, although wire transfers can take up to four days to appear in the account.
Withdrawals from an Alvexo account to a credit card cannot be in an amount greater than what was deposited using that method. Any excess will be transferred to the trader’s bank account instead. Accounts can be held in either U.S. Dollars or Euros at Alvexo.
Alvexo’s proprietary WebTrader trading platform based can be used in any web browser that allows a trader to log on via any computer to trade and access their account. Also, the broker offers a fully-functional mobile trading platform, which can be used on cell phones and other devices using the Android and Apple iOS operating systems.
A big plus for Alvexo is that the broker also supports the online forex market’s most popular platform – MetaTrader 4 by Metaquotes. This free software runs as a downloadable client on desktops, in web browsers, and on mobile phones. In addition to having trading, technical analysis and portfolio management features, the MT4 platform offers impressive automation functions and the ability to run a wide variety of third party expert advisors and custom indicators.
The screenshot below shows Alvexo’s own easy to use WebTrader platform, which includes technical analysis functions and position management features.
Alvexo offers telephone support in multiple languages such as English, French, Arabic, Italian and German. The broker also provides email support for customer issues, as well as compliance, finance and marketing communications. In addition, fax numbers are available at the broker’s Cyprus office.
Alvexo offers a Trading Academy on its website, where novice traders can pick up forex trading basics, watch video tutorials, and learn simple trading strategies. The site also has a section for more advanced traders that includes developing a trading plan, performing market research and analysis, and using more sophisticated techniques to enhance an existing trading strategy.
Alvexo and its parent company VPR Safe Financial Group are regulated by CySEC in Cyprus, which gives traders the security that their money is safe with this broker and that client funds are kept segregated in accordance with European Union MiFID regulations.
Alvexo is a relatively new STP NDD broker on the scene, but it offers a decent choice for both experienced and novice traders with educational materials that will appeal to either level of knowledge. Their straightforward proprietary trading platform and support for MetaTrader 4 also allows a trader to focus quickly on trading without the frustration of having to learn a complex system.
Despite impressively tight minimum dealing spreads, for some, the downside with this broker will be the fact that they charge a volume-based commission on all accounts types but the Classic, which could adversely affect those whose strategies include frequent high volume trading like day traders.