ForexFraud Header
"Getting your money back is done with ease." View More User Comments
Published:
Updated:

Alvexo Review

Alvexo was established in 2014 by its parent firm VPR Safe Financial Group Limited and has its headquarters in Limassol, Cyprus. The forex broker has a global presence with additional offices in the UK and Switzerland.

As a forex broker founded by market veterans and technology professionals, Alvexo remains committed to providing comprehensive investment and trading services that give traders the best prospects for success.

Alvexo submits to regulation by CySEC and complies with the EU’s MiFID or Markets in Financial Instruments Directive.

The official website of Alvexo is situated at http://www.alvexo.com, and a screenshot showing its home page appears below:

Alvexo Website Screenshot

**Alvexo does NOT accept Clients from USA**

Unique Features of Trading with Alvexo

One of the most notable features Alvexo provides trading clients with is its highly desirable STP (Straight Through Processing) NDD (No Dealing Desk) broker model that allows clients to see very tight markets in the major currencies from the broker’s liquidity providers who act as the counterparty to transactions.

On the downside, that benefit gets somewhat offset by the volume-based commissions that the broker charges for three of their account types. Only their Classic accounts have no commissions, although clients typically pay a considerably wider dealing spread to compensate the broker.

Alvexo offers a demo account with $50,000 of virtual funding, in addition to four types of live trading accounts with different spreads, perks and minimum deposit requirements. The leverage offered by this broker ranges from 1:2 to 1:30 for each live trading account.

Trading Software

Alvexo offers a trading platform for just about every type of trader, including a fully-functional mobile platform that works on the Android and Apple iOS operating systems. Each platform allows traders to access over 40 currency pairs, and a total of more than 100 other assets, including stocks, indices and commodities.

This broker also allows traders to use the highly popular MetaTrader 4 software developed by MetaQuotes. This platform has just about everything a forex trader could want in terms of market analysis, programmable automated trading, and the availability of third party trading software and custom indicators.

Alvexo also provides their proprietary WebTrader software to clients that can be used from any up to date web browser. The screenshot below illustrates some of the functions Alvexo’s WebTrader offers, which includes position management, market alerts, statistics, and technical analysis features.

Alvexo Web Trader Screenshot

Deposits and Withdrawals

The minimum initial deposit requirement of Alvexo is $500, with higher amounts required by more premium account types. Accounts are held in either U.S. Dollars or Euro, and clients are not charged for deposits or withdrawals.

The broker allows clients to make immediate deposits through popular credit cards like VISA, MasterCard and American Express, as well as debit cards, a selection of electronic wallets, and wire transfers. Withdrawals to a credit card can only be made up to the amount deposited via that card, and otherwise they need to go to a bank account.

Deposits made via credit or debit card or e-wallets generally get credited immediately to a trading account, while those made via wire transfers can take up to four days to show up.

Beginner Support

Avexo provides customer support in multiple languages via phone within the UK, Sweden, Cyprus, Spain, South Africa, France, Italy and Romania. Support, finance, compliance and market communications can also be done via email or by fax to the UK, Swiss and Cyprus offices.

One of the major plusses of dealing with this broker for novice traders is its Trading Academy that offers tutorial videos and other learning materials for both novice and more advanced traders alike.

Safety

Avexo is owned and operated by VPR Safe Financial Group Limited, which operates as a Cyprus Investment Firm that submits to CySEC’s oversight under registration number HE322134. Alvexo’s CySEC regulation comes under license number 236/14.

Due to its regulatory oversight, the broker must comply with the EU’s MiFID regulations and Law 144(1)/2007, so the broker’s accounts need to be kept segregated from client accounts.  If this segregation fails, then account balances are covered up to €20,000 per person by the EU’s Investors Compensation Fund.

Other Services

Avexo offers clients a variety of additional services that depend on the account type, with those types that require a higher initial deposit having more features.  For its four STP live account types, the basic and special features are as follows:

The Classic Account

  • Initial deposit of $500,
  • Minimum dealing size of 0.01 lot
  • Dealing spreads beginning at 3.3 pips.
  • No commissions are charged
  • Leverage of 1:2 to 1:30
  • Free trading signals.
  • Stop Out 50%
  • Margin Call 80%

The Gold Account

  • Initial deposit of $2,500
  • Minimum dealing size of 0.05 lots
  • Dealing spreads begin at 2.2 pips
  • Leverage of 1:2 to 1:30
  • Free trading signals
  • One-on-one support
  • Economic calendar
  • SMS capabilities
  • Technical analysis.
  • Stop Out 50%
  • Margin Call 80%

The ECN Account

  • Minimum deposit of $5,000
  • Minimum dealing size of 0.05 lots
  • Dealing spreads begin at 0.0 pips
  • Leverage of 1:2 to 1:30
  • Cryptocurrency and CFD trading
  • Free trading signals
  • One-on-one support from Senior Account Managers
  • Economic calendar
  • SMS capabilities
  • Technical analysis.
  • Stop Out 50%
  • Margin Call 80%

The Prime Account

  • Minimum deposit of $10,000
  • Minimum dealing size of 0.25 lots
  • Dealing spreads begin at 1.8 pips
  • Leverage of 1:2 to 1:30
  • Cryptocurrency and CFD trading
  • Free trading signals
  • One-on-one support from Senior Account Managers
  • Economic calendar
  • SMS capabilities
  • Technical analysis and reports.
  • Stop Out 50%
  • Margin Call 80%

Alvexo Conclusion

Overall, Alvexo looks like a fairly new but well regulated STP NDD broker that also offers clients who qualify for its ECN accounts the opportunity to trade via an Electronic Communication Network with multiple liquidity providers. Under this broker model, Alvexo does not act as a market maker or take on positions from clients itself, so that substantially reduces their conflict of interest with clients.

Although they offer decent trading platform options — including the forex market’s favorite MetaTrader 4 software — one substantial drawback in dealing with this broker if you are using their Gold, ECN or Prime accounts is that Alvexo charges a volume-based commission on transactions. This is partly compensated for by the associated tighter dealing spreads, but it can present an issue for traders with high transaction volumes like scalpers and day traders.

Still, their multi-lingual customer service and learning resources offered via the broker’s Trading Academy should provide enough support for a novice trader to get started, while more experienced traders will like the broker’s materials on advanced trading strategies.

Basically, if their $500 minimum deposit and per-trade commissions do not present an issue, then this broker should offer a reasonable transaction service suitable for traders of any skill level.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Comments on the Alvexo Review