AlfaTrade Forex Broker

Note: AlfaTrade's official website: https://alfatraders.pro/ is currently inaccessible normal.AlfaTradeReview SummaryFounded2023Registered Country/RegionSaint Vincent and the GrenadinesRegulationUnregulatedMarket InstrumentsCurrencies, Stocks, Indices, Cryptos, CommoditiesDemo Account✅LeverageUp to 1:1000EUR/USD SpreadFrom 1.5 pipsTrading PlatformWebMin Deposit$5 000Customer SupportEmail: Support@alfatrading-markets.com Founded in 2023, AlfaTrade is an unregulated broker registered in Saint Vincent and the Grenadines, claiming to offer trading on Currency, Stocks, Indices, Cryptos, and Commodities with leverage up to 1:1000 via a web-based trading platform. However, the minimum deposit requirement is as high as $5 000.Pros and ConsPros Cons Provide demo accountsUnregulatedDiverse market instrumentsBlacklisted by the CNMVNo reliable trading softwareRisky leverage ratiosHigh minimum deposit requirementsIs AlfaTrade Legit? AlfaTrade is completely unregulated. The brand of AlfaTrade differs from the domain it uses.What Can I Trade on AlfaTrade? AlfaTrade offers a variety of trading products including foreign exchange, stocks, indices, cryptocurrencies, and commodities.Tradable Instruments Supported Currency✔Stocks✔Indices✔Crypto✔Commodities✔Account Type AlfaTrade offers three different types of accounts and supports demo accounts.Account TypeMinimum DepositLeverageWithdrawalBasic$5 0001:504 business daysSilver$10 0001:1003 business daysGold$25 0001:2002 business daysPlatinum$10 00001:4001 business dayDiamond$1 000 0001:1000Within 12 hoursLeverage AlfaTrade offers a maximum leverage of 1000:1 for Forex trading, which is significantly higher than the industry average. For stocks and indices, the leverage ratio is also set at 100:1, while cryptocurrencies have a lower leverage limit of 10:1. Gold trading with AlfaTrade allows for a leverage of up to 100:1. It's important to note that these high leverage ratios can amplify both profits and losses, making trading riskier.AlfaTrade Spreads AlfaTrade's spreads for major currency pairs are relatively high. Traders can expect a spread of 1.5 pips for EURUSD, 3.5 pips for GBPUSD, and 3.0 pips for USDJPY.BrokerEURUSD SpreadGBPUSD SpreadUSDJPY SpreadAlfaTrade1.53.53.0FXTM0.40.70.7FP Markets1.01.21.2XM1.11.31.3Trading Platform AlfaTrade promotes its trading platform as an advanced web-based software, but in reality, it is quite generic. Many similar platforms offer only limited functionalities.Deposit and Withdrawal AlfaTrade does not explicitly state whether it charges fees for withdrawals and deposits. Its minimum deposit amount is 5,000 USD.Payment MethodDeposit TimeWithdrawal TimeFeeBank Wire2-5 business days2-5 business days$25+Crypto24 hours24 hoursVary