Alfa-Forex broker decided to take an unexpected turn in the forex industry. They don’t offer any specialized trading accounts. This is not a very common practice. When it comes to forex brokers, most of them offer various account types as this enables traders to find a set of benefits and opportunities that suits them most. In this case, there is no such choice.
Alfa-Forex review, has to state that during writing of this review, all traders were offered the same trading account. It was impossible to find any additional information about Alfa-Forex trading accounts.
Alfa-Forex Registration Process
Alfa-Forex registration is very interesting, and different than with many other brokers. After filling out a form with all the basic information such as name and email, Alfa-Forex broker takes traders to another form where they have to provide more additional data such as ID number. As there is no clear preview of the trading platform available before registration this means that traders have to give their confidential data even before they can take a glance at the trading platform.
Alfa-Forex Leverage Rates
All Alfa-Forex users have to pass a special Appropriateness test. Users who don’t pass the tast are entitled to a leverage of 1:20. Average leverage is 1:50, but traders can ask for more in case they understand all terms of leverage and fit the standards.
Alfa-Forex review showed that this broker has some interesting spreads. Traders can find all details about contracts on the website, and here is the info for most popular forex pairs.
- EURUSD – spread 0.7
- GBPUSD– spread 1.1 (1.4.)
- USDCHF – spread 0.7
- USDJPY – spread 0.8
- USDCAD – spread 0.9
Alfa-Forex spreads can be described as somewhat below the industry average. Also, there are many information that are difficult to find such as minimum deposit terms. Alfa-Forex also supports CFDs trading and forward trading, as well as trading with precious metals which can be interesting for traders who are looking after more exciting and diversified portfolio.
Alfa-Forex Swaps List
Alfa-Forex swaps are all listed in a special table, next to the Alfa-Forex Spreads. It is clearly noted that in case some of these swaps are different than the ones on MetaTrader platforms, the MetaTrader swaps will prevail. Here are some of the Alfa-Forex swaps for most popular forex pairs:
- EURUSD – long swap: -2.6, short swap: -1.2
- GBPUSD – long swap: 7, short swap: 2.7
- USDCHF – long swap: 2.8, short swap: 6.3
- USDJPY – long swap: 3.8, short swap: -7.9
- USDCAD – long swap: – 4.6, short swap:0