Alvexo is an up-and-comer on the Forex and CFD scene. They first opened their doors in 2014 and have come a long way in a short time. Alvexo is a global Forex broker and investment company specializing in global fiscal markets and offering investments in currency and CFD trading, as well as metals, stocks, shares and cryptocurrencies.
Alvexo is owned and operated by VPR Safe Financial Group Limited a Cyprus Investment Firm (CIF) with reference number 683301 and is supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC), through which it is licensed as number 236/14.
Alvexo offers several different accounts but a nice feature I found right at the beginning of this review was the Account Generator which, based on the answers to a handful of questions relating to income and investment goals, calculated the amount of money a trader should be investing. Based on that recommendation, it was easy to select the appropriate account type, eliminating confusion or uncertainty. This can certainly save new traders from unnecessarily investing and ultimately losing money.
Alvexo Account Types
There are four different trading accounts. The most noticeable difference among them is the amount of money needed to open the account, though there are other differences, as well. For instance, accounts meant for more seasoned traders have access to technical analysis reports as well as a direct line to senior account managers and one-on-one support.
The Classic account is a basic account for beginners. The minimum first deposit is $500, the minimum deal size $1,000 and spreads start at 3.3.pips.
The minimum deposit for the Gold account is $2,500. Spreads start at 2.2 pips and the minimum deal is at least $15,000.
The ECN account is geared towards dedicated professionals who trade direct. The minimum deposit is $5,000 and the minimum deal size is $20,000. Spreads are as low as 0.06 pips.
The Prime account is for advanced trading by serious investors and requires $10,000 to start. The smallest deal possible in this account starts at $25,000 and the spreads go from 1.8 pips and up.
Leverage for all four accounts is 1:300.
A clear chart of the different spreads for each currency and commodity accompanies the account comparison presentation which is very useful.
An additional chart lists the share, index and commodity CFDs available to be traded, their various exchanges, contract requirements for each product and in the different accounts in which they can be traded.
A demo account is available for traders wishing to practice the art of trading and hone their skills before committing with real funds. A Islamic account is also available for traders who follow Sharia laws and do not accept interest on funds accumulated overnight.
The Alvexo website is easy to navigate – some sites have a more “flashy” look, yet it’s simple and convenient. The website is available in English, French, Arabic, German, and Italian.
In addition, there is also a side toolbar that can be used to open the most important topics.
Alvexo keeps tabs on global current affairs, market reactions and investment opportunities. A weekly market analysis is presented in video form and trading opportunities are offered in length. Market trends are discussed daily, prepared by in-house economists and experienced brokers, and a comprehensive review of global financial news is posted on a daily basis – Alvexo uses experienced news reporters with working history in organizations like Bloomberg, The Economist and Yahoo! Finance which is impressive.
Alvexo Daily Market Analysis
A timely review of the previous week as well as an analysis of the trends to come are all prepared by Alvexo’s expert economists and analysts and posted alongside the top updates from all around the world. The economic calendar is precise and current with events – this isn’t a unique feature but on the other hand is not always included by other brokers.
Alvexo also hosts weekly webinars, although it’s not always clear on future dates for site visitors, it looks like it’s meant mostly for current users which are updated via the platform.
When it comes to education, the training and support materials are excellent at Alvexo, and every skill level of trader will find a subset of materials directed to his/her specific needs – it’s some elements like a progress feed or search options but more advanced trainers will find some added value here.
The Trading Academy offers a host of different features. Creative animated videos and top textual articles are available for beginners and advanced traders – Each of these Trading Academy tracks is self-paced and provides a thorough understanding of trading terms, concepts and strategies.
Articles on the Education Section
Terms and expressions of Forex trading are presented in the financial glossary and the FAQ section is conveniently divided into sections of a scrolling list of questions and answers that seem to cover all areas of trading.
Account holders can connect with an Alvexo representative 24/7 by email, fax, telephone, snail mail and live chat to a number of different locations. Their multi-lingual staff is on standby to answer questions and solve any problems.
The social pages are pretty active (mainly Facebook), in terms on engagement and they respond quickly to messages from what we saw.
The site got above average scores in online service reviews – standing out are the scores of 4.3 out of 5 on Google Review and 8.2/10 on Trustpilot which are reliable sources that aren’t exposed to manipulation.
Major credit and debit cards or bank wire transfers can be used for deposit purposes, or traders can use several alternative payment systems if they are available in the trader’s geographic jurisdiction. The minimum deposit required is $500, which can be made in either USD or EUR.
There are no fees charged for either a deposit or a withdrawal, but banking intermediaries may deduct a charge for their services independent of Alvexo. Deposits can be made in USD or EUR.
Alvexo, still somewhat new as a broker in the Forex scene, seems to have hit the ground running with a finely tuned machine. Their features and product offerings match up with the latest innovations in the industry with competitive pricing and a host of support tools that can be customized to suit any trader’s individual tastes. The management team’s commitment says it all: “Swift, Secure, Smart – Trade with the assurance of a regulated broker committed to your financial success.”