Score
Alfa Forex
Russia|5-10 years| https://alfaforex.ru
Website
Rating Index
Influence
Influence
A
Influence index NO.1
Russia 8.58Contact
Licenses
Licensed Institution：Общество с ограниченной ответственностью «Альфа-Форекс»
License No.：045-14070-020000
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic Information
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Sources
Language
Mkt. Analysis
Creatives
WikiResearchWebsite
alfaforex.ru
Server Location
Russia
Website Domain Name
alfaforex.ru
Server IP
217.12.97.244
Company Summary
| Alfa Forex Review Summary | |
| Founded | 2003 |
| Registered Country/Region | Russia |
| Regulation | CBR (Suspicious clone) |
| Market Instruments | 41+ currency pairs |
| Demo Account | ✅ |
| EUR/USD Spread | From 1.4 pips |
| Leverage | / |
| Trading Platform | MT5 |
| Min Deposit | / |
| Customer Support | 07:00 - 23:00 Moscow time on weekdays |
| Live chat | |
| Tel: +7 (499)215-79-79; 8(800) 100-62-02; +7 (495)215-55-46 | |
| Email: client@alfa.forex; support@alfa.forex; info@alfa.forex | |
| Social media: YouTube, Telegram, VK | |
| Registered Address: Moscow, Mashi Poryvaevoy st., 7, bldg. 1, fl. | |
| Correspondence Address: 107078 Moscow, Mashi Poryvaevoy st., 7, bldg. 1.floor 1 | |
Alfa Forex Information
Alfa Forex is a Russian brokerage company mainly focuses on forex trading. Spread is tight for the major EUR/USD from 1.4 pips, and can go very wide to 3200 pips for the exotic EUR/TRY.
Trades are executed on the world-recognized MetaTrader 5 platform to enhance customer experience. The broker also offers a series of analytical tools such as an economic calendar, calculator for traders to catch market trends efficiently. What's more, educational resources such as glossaries enable traders to develop fundamental knowledge about investment.
However, it's worth noting that the company's license by CBR is suspected to be fake clone, degrading its legitimacy and credibility significantly.
Pros and Cons
| Pros | Cons |
| Demo accounts available | Suspicious CBR clone |
| No withdrawal fees | Limited tradable asset classes |
| No account opening/maintenance fees | |
| MetaTrader 5 platform | |
| Popular payment options | |
| Live chat support |
Is Alfa Forex Legit?
BP Prime is currently regulated by CBR (Central Bank of Russia) in Russia, with a license numbering at 045-14070-020000.
However, the license is suspected to be a fake clone, indicating that the broker might be pretending to be another reputable financial firm to conduct possible scam activities. You should be extremely wary about this.
| Regulated Country | Regulator | Current Status | Regulated Entity | License Type | License No. |
 | CBR | Suspicious clone | Общество с ограниченной ответственностью «Альфа-Форекс» | Retail Forex License | 045-14070-020000 |
What Can I Trade on Alfa Forex?
Alfa Forex claims to offer trading in 41 currency pairs, from the major EUR/USD, GBP/USD, to exotic pairs like USD/TRY, EUR/TRY, etc.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ❌ |
| Indices | ❌ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account Type/Fees
Alfa Forex offers a demo account for traders to practice their trading strategies and get familiar with the company's platform before real trading. Nevertheless, there's limited information about live accounts. We can only get information about trading conditions such as minimum deposit, leverage from nowhere.
Live trading is transacted in CNY, USD, EUR and RUB.
The broker offers tight spread for the major currencies. For example, spread is from 1.4 pips for EUR/USD and 2.1 pips FOR GBP/USD. But be careful about the exotic pairs, spreads can be extremely wide and surge to 3000 pips for USD/TRY and 3200 pips for EUR/TRY.
One favourable condition is that the broker does not charge commissions for opening or maintanence of accounts.
Trading Platform
Alfa Forex only offers a the industry-leading MetaTrader 5 platform for clients to execute trades and catch up with market trends. The platform is renowned for its user-friendly interface, automatic execution and analytical charting tools.
You can access the platform through web, or download an app from Windows, iOS and Android devices.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Web, Windows, iOS, Android | Experienced traders |
| MT4 | ❌ | / | Beginners |
Deposit and Withdrawal
Alfa Forex accepts payments in several methods, each with different deposit/withdrawal currencies, fees and processing time.
- Deposit:
| Method | Currencies | Fees | Processing Time |
| Alfa Mobile Banking App | RUB, USD, EUR, CNY | ❌ | RUB: ~10 minutes; USD, EUR, CNY: ~1 hour |
| Alfa Online Banking | |||
| Bank Branch | Check with branch | 1-2 business days | |
| Other Bank | RUB, USD, EUR | Banks' commission | |
| Bank Cards (MasterCard, Visa, World) | 1% |
- Withdrawal
| Method | Currencies | Fees | Processing Time |
| To Alfa-Bank | RUB, USD, EUR, CNY | ❌ | 1-2 business days |
| To other banks | RUB | Banks' commission |
Keywords
- 5-10 years
- Suspicious Regulatory License
- High potential risk
Review 8
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FX1282366453
New Zealand
The worst broker! Terrible trading platform always giving me bad signals… I kept losing money, while that stupid account manager said I was wasting his time. Jerks!
Neutral
2023-02-24
SasunSosan
Germany
A decent forex dealer, with a wide range of currency pairs, including ruble pairs, and with our license. Everything is legal, they also calculate taxes themselves, the client doesn't need to worry about it. As for the trading conditions, personally, they suit me: normal spreads, floating leverage, can reach up to 1:40, you can open a trade with 0.1 lot. There is a lot of different types of analysis for beginners here. The quotes are from banks.
Positive
2024-05-28
Николай Фомин
Russia
As a beginner in trading, I can recommend Alpha Forex as a broker for people like me. I started this whole journey when I came across this broker and went to the education section. I reviewed all the archived webinars on their website and then moved on to their demo version, just to try it out at first. But then it turned out that I have had a real account with Alpha Forex for six months now, and it is currently my additional income. As for the platform, I can say that everything is intuitively understandable, with fast registration and a user-friendly interface. Of course, I had to reach out to customer support, but they are always in touch with me and even help me gradually develop my trading strategy. I also started following their daily market reviews on the Telegram channel.
Positive
2024-04-24
Саша Штерн
Germany
I trade with the mobile version of AF, everything works without problems. I always carry my phone with me, it’s very convenient. The broker offers the already familiar MT5 terminal; in the mobile version it is no less convenient to use than in the desktop version. On the plus side - 40 currency pairs, fast execution of orders, no problems with withdrawal of funds and the ability to open transactions with micro lots. On the downside, I would like to see even more exotic currency pairs, I am interested in this topic. But in general everything is cool.
Positive
2023-12-25
DSmolin
Russia
There was a long break in Forex trading, I decided to come back and open an account with a domestic broker. I chose Alfa because I had already dealt with this bank. The account is opened without problems, replenishment through the Alpha card is fast, I haven’t tried it through others. At first I tried it on a demo account, tried out the tools and trading conditions, then I switched to a full-fledged account. They offer a choice of 40 currency pairs, not all of them interest me, but there is a choice. The conditions for spreads are normal, at least among licensed brokers. During the first month of active trading I was able to earn normally and withdrew funds without any problems. I’m glad that you can either scalp on some ruble or hold another currency for a longer time, this suits my mood better, but I know there are those who like one thing better.
Positive
2023-12-07
kir12458
United Kingdom
What I like about Alpha Forex is that in addition to comfortable trading, they offer high-quality analytics. I use their trader calendar and regularly watch market analyzes in the telegram.
Positive
2023-12-05
Норм
Russia
The choice of tools is not very limited; everything is official. In recent months, the choice has become more noticeable. So the site is developing, and this is the most important thing.
Positive
2023-08-31
FX1130777838
Morocco
I am new to online trading. Actually, it is also my first time trading. But I am happy that I made the right choice of picking this broker Alfa Forex. They have helped me a lot.
Positive
2022-12-12