Alpho Review 2022: Is It Worth Your Time?

Alpho in a Nutshell

Alpho is the brand name of Gulf Brokers Ltd, a financial investments company founded in 2016. Its main office is based in Seychelles, but it has a global presence with the exception of a few jurisdictions, including the US. With Alpho, users can trade over 800 financial instruments via the famous MetaTrader 5 platform. These financial instruments include shares, commodities, indices, and forex.

To trade with Alpho, clients need to open one live account. This account comes with various key features, such as

● Access to 800+ financial trading instruments.

● Leverage of up to 1:500 on forex trading.

● Spreads from 3 pips.

● Access to a free demo account.

● A minimum deposit of only $100.

Users can also access a demo account to practice their trading skills before investing and an Islamic account to enjoy swap-free overnight positions. The broker also offers a variety of research materials to help their clients worldwide improve their trading skills and make data-driven trading decisions.

For those who're new to trading, the educational materials on the broker's website can come in handy. For advanced traders there is no special educational section, however, they can find useful materials in the Research section. This detailed Alpho review will provide all the information clients would need to decide whether to trade with the broker or not.

Alpho Safety Review

When choosing an online broker, it’s important to pay attention to the company's administrative body and regulatory status. Regulation by leading authorities means the broker is required to operate under certain rules and regulations to maintain the licensing. This, in turn, means the clients can trade with the broker with the assurance that their trading activities and funds are well secured.

Alpho is a limited liability company licensed and regulated as a securities dealer by the Financial Services Authority (FSA) of Seychelles with the license number SD013. According to the broker’s client agreement, Alpho takes every measure possible to avoid using client funds for the company’s account.

Trading risk disclaimer: Trading leveraged and non-leveraged financial instruments is highly speculative and risky. It is, therefore, only suitable for persons and entities who can assume the risk of losing their initial investment. The risk of loss can increase if the trader has utilized the maximum available leverage. In such instances of loss, Alpho is not liable for the loss, in part or whole, resulting from the trader's investing activities.

Alpho Fees

Alpho's clients enjoy fee-free deposits and withdrawals. However, the client can incur transaction charges based on their payment services provider terms, such as bank transfer costs.

Alpho charges a monthly maintenance fee of USD 10 (or any other currency equivalent) for accounts that are inactive for one month or more. An account is considered to have no activity if there are no deposits, withdrawals, or trading activities within a month or more. Alpho can deduct any owed fees, like the inactivity fee, from the client's trading account. All fees mentioned in this Alpho review are accurate at the time of writing. It's crucial for clients to regularly check the broker's website for any changes in fee structure.

Alpho Spread Overview

Trading costs, for instance, spreads vary depending on the account type and instrument being traded. Overall, Alpho's spreads are nothing outrageous for most asset classes, though some brokers offer quite lower spreads.

The spreads for the most traded currency pairs, EUR/USD, start at three pips for Alpho. For indices, the spreads begin at two pips and 0.025 pips for commodities like wheat and Natgas.

Alpho Swap Rates

In CFD trading, swap rates refer to the interest added or withdrawn to a trading account for holding an open position overnight.

Swap fees with Alpho depend on the type of account the trader uses. The normal live trading account is subject to swap fees for any positions that are held overnight. For positions held over a weekend, the account gets a three-day swap fee charged on Wednesday.

On the other hand, Islamic accounts are not charged overnight funding or swap fees when trading with Alpho.

Alpho Deposit and Withdrawal

Alpho does not charge deposit or withdrawal fees. However, there may be bank or third-party merchant charges for the transactions. According to the broker's website, withdrawal requests are processed as soon as possible, but there's no mention of the exact waiting time. Clients can deposit funds into their trading accounts at any time using the accepted payment options and withdraw by submitting a 'Withdrawal Form' request on the client's portal.

Alpho Deposit and Withdrawal Methods

Alpho's clients can deposit and withdraw funds using the following payment options:

● Visa and Mastercard for online payments

● Wire transfer

● E-wallets like Perfect Money

Minimum and Maximum Deposit and Withdrawal

Alpho requires a minimum deposit of 100 USD. Clients can deposit or withdraw funds from the client portal. The brokers' client agreement doesn't provide the details on the minimum and maximum withdrawal requests.

Alpho Tradable Markets and Products

Alpho's clients can trade 800+ financial instruments across indices, commodities, shares, and forex using one live trading account. Clients can find a more in-depth list of the tradable markets and products on Alpho’s website. Here's a quick overview:

Alpho Leverage Offered

Leverage allows traders to access much larger positions than the capital in their accounts can allow. While this means potentially greater profits, it can also mean greater losses exceeding the investment amount if the trade goes against the trader.

At Alpho, traders can access leverage of up to 1:500 for every trade. This is the maximum leverage set as part of the regulatory requirements by FSA. In some cases, however, the trader may not access the maximum possible leverage due to:

● Client’s jurisdiction.

● Trader’s account size.

● Asset being traded.

Due to the risk of loss associated with trading leveraged products, traders should always factor in their risk profile and trading experience.

Disclaimer: Leveraged products carry a high risk of losing money rapidly due to market volatility.

Available Alpho Trading Platforms and Tools

A broker's choice of trading platform affects the overall client's experience. Alpho's trading activities occur on the globally renowned MetaTrader 5 platform. MT5 is widely used in the forex and CFD online trading industry. It is accessible through desktops, mobile apps, and the web. The MT5 trading platform is user-friendly and has key trading features. Alpho clients don't have to pay any additional funds to trade on the MT5 platform. Below is a detailed look at the Alpho's MT5 trading platform features and experience:

1. The Alpho's MT5 WebTrader

The Alpho MT5 WebTrader is a web version of the platform that requires no download or installation. Clients can access it through any web browser. It has a user-friendly interface and helpful features including

● Multiple assets trading.

● Watchlists of a trader's favorite financial instruments.

● Interactive charts.

● A range of technical tools and indicators.

● A wide range of order types.

● Copy trading and automated trading.

2. Alpho's MT5 Terminal for Desktops

Traders can also download and install the MT5 terminal for both Mac and Windows. It allows the traders to place any of these order types:

● Market Order: Gives the instruction to buy or sell a financial product at the current best available price.

● Limit Orders: This is a pending order aimed at maximizing trading profits.

● Stop Order: A pending order that allows the trader to determine if the current market trend is profitable.

The Alpho MT5 desktop terminal's notable key features include

● 9 time-frames.

● 80+ technical indicators.

● Expert Advisors.

3. MT5 Mobile Trading platforms

The MT5 platform is also available for both iOS and Android systems. Traders can access the download links from the brokers' website or search the Alpho's apps on the Google Play Store or Apple store.

The app allows traders to manage their accounts and trade on the go. They can place different order types and access real-time quote streaming. Most of the features available are native to the MT5 trading platform so users can go ahead and access more beneficial features from the MT5 marketplace. These additional resources may include more technical indicators, automated trading strategies, and copy trading services.

Alpho Account Types

In the forex and CFD trading industry, traders have the opportunity to create different types of accounts. The account type typically determines the:

● Margin call rules.

● Swap fees.

● Commission rates.

● Tradable assets classes.

● Leverage limits available, and other conditions.

At Alpho traders have access to only one type of live trading account. They can also access a free demo account and an Islamic account.

Demo Account

Practicing and perfecting trading skills is important before risking real funds. Alpho offers users a free demo account which is loaded with $100k in virtual cash. Users can utilize virtual cash to sharpen their trading skills and acquaint themselves with Alpho platform before making investments.

Live Trading Account

Alpho offers its traders one live trading account with various features. The main features include:

● Multiple financial CFD instruments.

● Leverage of up to 1:500.

● Varied spreads from 3 pips.

● Zero fees on deposits and withdrawals

● 0.5% (min 20 USD) share trading commission

● $0 commission on trades involving commodities, indices, and forex.

● $100 minimum account deposit.

● $100k free demo account.

Islamic Account

Alpho's users also have access to a swap-free account, the Islamic account.

This account is not subject to swap fees for positions held overnight unlike the normal live trading account.

Alpho Account Registration

Anyone who wants to trade with Alpho can open an account within a matter of minutes. After clicking the 'Join' button on the broker's website, the user will follow a series of steps to complete the registration. These steps include:

1. Signing up with the client's name, email, and phone number.
2. Submitting personal information which includes place of birth, date of birth, nationality, and tax domicile.
3. Providing address details and country of residence.
4. Stating the gross income and source of income.
5. Verifying the submitted email address to activate the trading account.
6. Providing proof of identity (passport or driving license) and proof of residence (utility bill or bank statement).

It's worth noting that Alpho does not accept clients from the United States, Yemen, Cuba, Uganda, Crimea, Israel, North Korea, Ethiopia, Iran, Bosnia and Herzegovina, Lao People’s Democratic Republic, Syria, Vanuatu, Sudan, Iraq, Afghanistan, and EU residents.

Alpho Customer Support

Nothing sucks like unresponsive and unprofessional customer support when it's most needed. That's why it's important to check out the options available for getting support and the responsiveness of the customer support team for any online broker.

Alpho provides customer support 24 hours a day for five days a week. Users can contact customer support via:

● Email: support@alpho.com.

● Phone: +44 203 966 0067

● Social media platforms.

While the main language for communication between the broker's support team and clients is English, they are also able to offer support in Russian, Vietnamese, Arabic, and Spanish.

Research Tools Offered by Alpho

Clients can always access research materials through various online sources. However, it is crucial to have the client's broker provide timely, in-depth, and accurate research materials. Alpho offers various market research materials to ensure their clients don't miss important news that can affect their trade activities. The information provided is not investment advice but market news that the clients can use to stay up to date and make informed trading decisions. The materials are informative, detailed, and regularly updated.

The main research materials offered by Alpho include:

● Daily Summary: This section breaks down any important data affecting the equities, currencies, and commodities markets. It also highlights the economic outlook and major price levels for the day.

● Market News: This section covers the most recent market news and top stories that have an impact on the global markets.

● Blog: This platform is dedicated to providing trading insights. It contains a wide range of articles written by the broker's top analysts.

● Economic Calendar: This is a calendar of the upcoming global events relating to markets and economic data releases.

These research resources are suitable for both novice and advanced traders.

Educational Tools Offered by Alpho

Educational materials are key for traders, especially those who don't have much experience in the financial markets. Alpho provides high-quality but limited educational content. The educational materials on the broker's website include a few trading videos, top trading tips, and a glossary of key terminology.

Alpho Awards

Independent organizations often conduct polls or reviews of different brokers to determine traders' sentiments and experiences with different online trading companies. Alpho won the second best online broker in a poll carried out by Trader Magazine.

Alpho Review Final Thoughts

Overall, Alpho has a long history in online trading going back to 2016 and provides a good selection of FX and CFD products. The broker utilizes the widely used MT5 platform for desktop, web, and mobile devices.

The minimum deposit of $100 offered by the broker is a bit higher compared to the most competitive industry rates of as low as $10. Alpho also lacks the instant customer support that comes with a live chat option. Clients can access help through email and phone calls. However, trading with the broker has its bonuses too like fee-free deposits and withdrawals, and commission-free trades on indices, FX, and commodities.

Users don't have to worry about understanding different account types since the broker offers one live trading account that comes with all the major trading features and tools. While there are things that the broker can improve on, like offering more competitive spreads there are also areas that the broker is doing really well.

FAQ

Is Alpho a good forex broker?

Based on this review, Alpho is a good broker that offers four main asset classes: shares, forex, indices, and commodities. Just like any other online CFD instruments broker, Alpho may not be ideal for every trader. Their spreads and swap fees are particularly not very competitive when compared to other brokers.

Is Alpho regulated?

Alpho is authorized and regulated by the Financial Services Authority of Seychelles (FSA). While it’s a good move, there are brokers who are regulated by multiple regulating bodies in different jurisdictions such as FSCA (South Africa), CBCS (Curaçao and Sint Maarten), FCA (United Kingdom), CySEC (Cyprus), FSC (Mauritius), and FSC (BVI).

Is Alpho a scam or legit?

Based on the time the company has been in business and regulatory status, it’s clear that Alpho is legit and Alpho is not a scam.

When is Alpho customer support available?

Alpho customer support is available 24 hours a day and five days a week. Customer support is offered majorly in English but clients can get support in other languages like Russian, Vietnamese, Arabic, and Spanish. Support is available via telephone and email.

Is Alpho good for beginners?

Alpho is suitable for both beginners and more seasoned traders. Beginners can put their trading skills to the test using the free demo account. The higher minimum deposit of $100 however may not be ideal for some beginners.

How long does it take to withdraw from Alpho?

The broker’s website and client agreement mention that withdrawal requests are processed as soon as possible. Clients can withdraw their funds from the client portal at any time. Usually, the length of time it takes to process withdrawals is impacted by the client’s financial services provider.

What is Alpho all about?

Alpho is all about offering its clients the ability to trade financial CFD instruments on a wide range of asset classes. The broker complies with the FSA regulations.

Does Alpho offer a demo account?

Yes, from this review of Alpho, it’s clear that the company offers a free demo account with $100k virtual cash. The trades are executed on the MetaTrader 5 platform. The Alpho MT5 platform is accessible through web apps, mobile apps (both for android and ioS), and desktop apps. There are no extra charges to trade on the Alpho MT5 platform.

What types of accounts are available on Alpho?

Alpho offers one type of live trading account that comes with all the important features that traders can require. There is no categorization for beginner and seasoned traders' types of accounts. Traders can also use the available Islamic account to get swap-free trades on positions that are left open overnight.

Does Alpho accept PayPal?

Alpho does not offer PayPal as a deposit or withdrawal method. Clients can use other payment platforms for deposits and withdrawals such as bank wire transfers and credit/debit cards.