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
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.
Pros
Cons
Over 800 financial CFD instruments
Alpho inactivity fees
24/5 customer support
High swap rate
Zero fees on deposit and withdrawals
High leverage of up to 1:500
Availability of comprehensive reasearch meterials
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:
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:
Tradable Markets and Product
Examples
Forex
EURUSD,EURJPY,GBPUSD
Indices
US30,UK 100,US500
Shares
Google,Netflix,Apple
Metals
Gold,Silver,WTI
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
Alpho
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:
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.
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.
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:
Signing up
with the client's name, email, and phone number.
Submitting
personal information which includes place of birth, date of birth,
nationality, and tax domicile.
Providing
address details and country of residence.
Stating the
gross income and source of income.
Verifying the
submitted email address to activate the trading account.
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:
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
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.
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.
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