Alain Fx foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://member.alainfx.com/register, about the company's legal and temporary regulatory information, the company's address HAMCHAKO, MUTSAMUDU, THE AUTONOMOUS ISLAND OF ANJOUAN, ANJOUAN, UNION OF COMOROS.
Alain Fx Forex Broker
Basic information
Comoros
5-10 years Suspicious Regulatory License MT5 Full License Regional Brokers High potential riskCompany profile
Alain FX is a British broker founded in 2015, offering forex pairs, indices, shares and options commodities and CFDs on the popular MetaTrader 5 platform.The company provides three types of accounts, with a minimum deposit set at $100 and leverage up to 1:400.
However, Alain FX has not obtained authorization from any financial regulatory authorities.
In addition, Alain FX does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People's Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Quebec, Iraq, Syria and Cuba.
Pros and Cons
| Pros | Cons |
| Multiple trading choices | Lack of regulation |
| Versatile trading accounts | High spreads |
| Demo accounts | Regional restrictions |
| Flexible leverage ratios | |
| Commission-free | |
| MT5 support | |
| Multiple payment options | |
| No fees for deposits and withdrawals |
Is AlainFx Legit?
The company behind AlainFx, Alains Market Solutions Ltd., has not obtained authorization from the Financial Conduct Authority (FCA) of the United Kingdom or any other regulatory body, lacking legitimate oversight.
What Can I Trade on AlainFx?
AlainFx offers forex pairs, shares and options, commodities and contracts for difference (CFDs) on indices and precious metals. However, it is not advisable to trade any instruments through such an unregulated broker.
Forex pairs: USD / JPY, USD/CHF, USD / CAD, USD/ILS, USD/PLN, USD/CZK, USD/HKD, USD/SGD, USD/MXN and USD/SEK...
Shares and options: US Dollar / Japanese Yen, Australian Dollar / US Dollar, US Dollar / Swiss Franc, US Dollar / Canadian Dollar, WTI Crude Oil/US Dollar...
Commodities: WTI Crude Oil, Gasoil, Brent Crude, Heating Oil, Natural Gas, Wheat, Corn, Cotton...
Indices: US 500 (SPI), US 30 (DOW), US Tech (NDQ), UK 100 (FTS), Germany 30 (DAX), EU Stocks 50 (ESX)...
| Tradable Instruments | Supported |
| Forex | ✔ |
| CFDs | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Shares | ✔ |
| Options | ✔ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| ETFs | ❌ |
Account Type
Apart from demo accounts, AlainFx also offers three types of live trading accounts: Basic Account, Economic Account, and Classic Account. The minimum deposit requirements for these accounts are $100, $500, and $10,000, respectively.
| Account Type | Min Deposit |
| Basic | $100 |
| Economic | $500 |
| Classic | $10,000 |
Leverage
The maximum leverage for the Basic Account is set at 1:400, while for the Economic Account, it is relatively lower at 1:200, and for the Classic Account, it is 1:100.
| Account Type | Leverage |
| Basic | 1:1-1:400 |
| Economic | 1:1-1:200 |
| Classic | 1:1-1:100 |
However, it is common knowledge that high leverage entails high risk, especially when trading with a broker lacking regulation.
Spread and Commission
Currency pairs spreads listed on the AlainFX seem a little bit wide, the spread on EUR/USD pair around 1.8 pips, EUR/GBP pair around 3 pips, all higher than sector standard.
Spreads also vary depending on various trading accounts, as follows:
| Account Type | Spread | Commission |
| Basic | From 2.5 pips | ❌ |
| Economic | From 1.7 pips | ❌ |
| Classic | From 0.9 pips | ❌ |
All account types are commission-free.
Trading Platform
AlainFx claims to provide the world-leading trading platform MT5, with desktop and mobile versions available. However, we still recommend choosing a regulated broker with legal trading permission from professional platforms like MT4/5 or cTrader.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ❌ | / | Beginners |
| MT5 | ✔ | Desktop, mobile | Experienced traders |
Deposit and withdrawal
AlainFx supports the following deposit/withdrawal methods: credit/debit card, wire transfer, Skrill, Neteller, and WebMoney.
It does not charge any commission for deposits & withdrawal, and it takes 3 to 7 days to withdraw funds.
Rating Index
CLASSIC
BASIC
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Latest Reviews
知足
Spain
I feel that the trading conditions offered by this company are too attractive. Various trading instruments, numerous deposit and withdrawal methods, MT5 platform... The obvious disadvantage may be that the spread is relatively high. But this company doesn't have any regulatory information so I think it may be a scam. I will not trade with it Alain Fx.
Neutral
2022-12-06
K线图
Netherlands
The spread of the most basic account type is too high. Although no commission is charged, the minimum deposit amount is the same as the industry average, and the leverage is also very flexible. You can choose between 1:1-1:400. However, no one is perfect, and neither can all brokers be perfect. Overall, I am satisfied with their trading conditions.
Positive
2022-11-29
Ms程
Malaysia
I was having no luck with trading and learning the wrong content till I discovered Alain Fx. Their approach is direct and honest and will take your trading to the next level. Great skills learnt and great teachers of many different types of technical analysis to suit all types of traders.
Neutral
2023-02-23