Pros & cons of Alvexo broker

Alvexo Fact sheet

Alvexo is a regulated Forex and CFD broker. The broker is licensed under the Seychelles Financial Services Authority. Furthermore, the broker uses segregated accounts to save client funds separately from its own money. The broker is part of the compensation fund meaning the investors will get a refund in case of the broker’s insolvency. 

Although Alvexo is offering negative balance protection, there is a catch. The company does not apply this policy to clients who were trading during gaps or hedging with multiple accounts. It is hard to avoid gaps if the market is extremely volatile or the broker’s provided price data is not of high quality, therefore we assume the broker does not offer negative balance protection. 

There are several account types offered by Alvexo called Classic, Gold, Prime, and Elite. The accounts differ with the minimum required deposit, spreads, and minimum trading lot sizes. The classic account requires at least 500 USD or EUR and offers spreads from 2.9 pips, lot size from 0.01, and 30-day access to educational materials called Alvexo Plus. The leverage is up to 1:300 for all account types and the Stop Out level is set to 15%. The minimum deposit required for the Gold account is 10,000 USD and offers 60-day access to Alvexo Plus and the minimum lot size is 0.05. The spreads are lower on the Gold account starting from 2.2 pips on major pairs. 

The prime account requires 50,000 USD at least and spreads start from 1.8 pips and the minimum lot size is set to 0.1. Alvexo Plus access is free for 120 days and margin calls can be sent via SMS and email. The spreads, as we can see, are relatively high compared to the industry-standard 1 pip and it requires above 50,000 USD to activate the 0.1 pip spreads which is a huge investment. Because of how many other brokers offer lower spreads for much lower initial deposits, Alvexo is not attractive in this department. Especially for scalpers who rely on tight spreads and low commissions. The Elite account offers all the best features and the lowest spreads from 0.1 pips. Unfortunately, there is no account with zero spreads and low commissions offered by Alvexo. Alexo Plus is available for Elite account users for free without time constraints like for other account types. All in all, Alvexo’s terms are not flexible in accommodating all kinds of traders but can be useful for professional traders with high initial investments. 

Pros & cons of Alvexo account types

Comparing Alvexo fees with other brokers

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The company offers proprietary trading apps and web traders for desktop and mobile trading. Despite being inferior to some of the advanced platforms, there are still several areas that the broker claims its web-based software shines in:

• Instant execution - Fast order placement is possible which is a challenge for MT4 and MT5, so a point goes to Alvexo in this metric.
• Charting suite - There are numerous tools to analyze markets
• Market awareness - Alvexo tries to offer high-quality data for a better trading experience
• Broad asset choice - All offered assets are available on a single platform including CFDs on stocks, commodities, bonds, cryptos, currencies, etc.
• Professional signals - The broker has a signal providing service which is integrated with their web trader to provide quick access to signals directly from a trading platform
• Order management and immediate trade exit features - It is possible to monitor all open positions and exit them right away with one click.

Alvexo’s mobile trading platform is available for both Android and iOS and comes with several inbuilt features like daily signals, real-time alerts, risk management, a charting suite, etc. Technical indicators and technical tools can be used on the mobile platforms of Alvexo which is a plus. The mobile app has won Alvexo an award for the best mobile trading app in 2022. 

The educational materials offered by Alvexo are numerous and excellent, but there is a catch. The materials offered are limited to 30 days for Classic account holders and with each upper-tier account type the days for which Alvexo Plus is available are increased. Alvexo Plus is a dedicated section on the broker’s website mainly consisting of several educational sources including the academy, news, webinars, eBooks, financial TV, economic events, and a blog. As we can see the resources offer all kinds of educational materials including videos, webinars, and books. Additionally, there is daily market analysis offered which is integrated with the broker’s proprietary web trading platform. The only downside is that these resources are not free and require substantial investment to open more advanced account types and access them. 

Customer support is limited only to email, phone, and an online form that can be found on the website in the “Contact” section. There is no live chat possibility to contact Alvexo directly. The broker provides phone number lists for different countries for convenience. The lack of a live chat is a serious downside for any brokerage firm as clients will need substantial time or undergo extra costs to contact the broker in case issues arise during trading. Support is available in several different languages including English, French, Spanish, etc. The website is also multilingual and supports 6 languages in total.

Alvexo is a Seychelles-based Forex and CFD broker that offers access to over 550 tradable instruments, including Forex, commodities, cryptocurrencies, indices, and stock CFDs. The broker is regulated by the Seychelles Financial Services Authority and keeps client funds in segregated accounts. However, the broker charges high spreads starting from 2.9 pips, and negative balance protection is not applied to all clients. The minimum deposit required for the Classic account is 500 USD, which is relatively high compared to other brokers, and educational materials are only available for 30 days. The fees on withdrawals are charged by both the broker and payment service providers. Although Alvexo's account types offer flexibility in terms of lot sizes and leverage, the spreads are high. Therefore, Alvexo may be more suitable for professional traders with high initial capital investments.