Alvexo Broker Review 2022 | Covering Forex Accounts, Fees and more
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Alvexo Broker Review

Review By: Alan Little
Review Updated: 2022-01-03
4
Rating
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CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE. 79% OF RETAIL INVESTOR ACCOUNTS LOSE MONEY WHEN TRADING CFDS WITH THIS PROVIDER. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CFDS WORK AND WHETHER YOU CAN AFFORD TO TAKE THE HIGH RISK OF LOSING YOUR MONEY.

Overall Ratings
4
Alvexo Fees
4
Trading Platforms
4
Mobile Trading App
4
Market Research
4
Customer Service
4

Alvexo broker features

Feature Alvexo
Minimum deposit: £500
Withdrawal fee amount:
Inactivity fee charged (Y/N): N
Max leverage:
Spread from:
Number of instruments:
Year founded: 2014
Time to open account:
Demo account provided (Y/N): Y
Countries of regulation:
Products offered:

Alvexo pros and cons

Pros
  • Competitive leverage levels 
  • Well-regulated and transparent
  • Good educational resources
  • Market access through  STP/NDD brokerage model
  • Offers Micro lots
Cons
  • Not available to US customers
  • Wide spreads on some accounts
  • Limited payment methods
  • Commission on ECN accounts relatively high
  • No robo trading
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Review Sections:

Who are FXTM?

Our Alvexo review is designed to give you a an up to date appraisal as Alvexo as a broker and as a platform.  We cover all areas of Alvexo from charges and commissions through to customer service.  We encourage you to comment on our Alvexo review and call out any of your own experiences.  Our aim is to help other traders make considered decisions when investing.

Alvexo emerged in 2014 as part of an effort by forex market veterans and fintech professionals to establish a new online brokerage aimed at providing one of the most technologically advanced and comprehensive trading services out there.

Alvexo Broker Review | Chart Comparison | We Compare Brokers

Appealing to both novice and advanced traders, Alvexo offers a robust broker platform with an incredibly easy to navigate website that is supplemented by a high-quality range of educational and training resources. Additionally, it is immediately obvious that regulatory compliance is of the utmost importance to Alvexo.   It aims to give its account holders as much reassurance as possible and has one of the most comprehensive regulatory regimes among its peer group.

Although the commission charges on some of the higher-end accounts can be somewhat heavy-handed, overall the experience of trading on Alvexo is unquestionably positive and this platform represents one of the stronger offerings out there at the minute. Our Alvexo review will tell you all you need to know about this exciting platform.  Don’t forget to add your thoughts below.

Alvexo Fees

4
Rating

Alvexo runs a volume-based commission system on three of the four account types on offer. The odd one out, the ‘Classic’ account option adopts a ‘zero commission’, approach although this account unsurprisingly comes with wider spreads.  Whilst no trader necessarily likes paying out fees they are part and parcel of the market and at least with Alvexo, there is a choice of approach.  With four accounts to choose from there is an increased likelihood of matching account type to personal trading style.

Another area where fees need to be monitored is that of funding transfers.  Alvexo trading accounts are denominated in Euro and US Dollars.  Funds can be wired into the account in other currencies, for example, GBP sterling, and will then be converted to EUR or USD according to account holder preference.    The minimum account size is EUR 250 and US$ 250 which is in line with the peer group and a welcome change as previously the required minimum was higher.  Deposits can be made using credit/debit cards, as well as a range of electronic wallets, with the e-wallets being the fastest method. Customers should also be mindful that whilst Alvexo does not charge a deposit or withdrawal fee, the intermediaries you use to make payments may do so.

Trading Platforms

4
Rating

As is very much the industry standard these days, Alvexo runs the highly popular MetaTrader 4 software. Our Alvexo review team used the platform for a few days and found MetaTrader 4 a feature-rich and highly robust trading platform which has functionality that is welcoming to new traders but also contains enough advanced functionality to satisfy the needs of more experienced market participants.

Alvexo Broker Review | MT4 Platform | We Compare Brokers

Alvexo have also developed their own in-house, cloud-based, WebTrader software that traders can use from any modern web-browser. Designed to supplement the MT4 platform it allows users to manage their positions, set price alerts, and even carry out technical analysis. The WebTrader software has an attractive and clean layout but also it’s not just about appearances as the package contains tools to help the trader respond quickly to market conditions.

 

The exact services offered by Alvexo will depend on the type of trading account you have with them, and currently, four account types are offered:

Account Type Classic Account Gold Account ECN Account Prime
Initial Deposit $500 $2,500 $5,000 $10,000
Minimum Dealing Size 0.01 lot 0.05 lots 0.05 lots 0.25 lots
Dealing Spreads Begin at 3.3 pips Begin at 2.2 pips Begin at 0.0 pips Begin at 1.8 pips
Commission? No commission Yes – volume based Yes- volume based Yes – volume based
Leverage Offered 1:2 to 1:30 1:2 to 1:30 1:2 to 1:30 1:2 to 1:30
Trading Signals? Free! Free! Free! Free!
Stop Outs? 50% 50% 50% 50%
Margin Call 80% 80% 80% 80%
Technical Analysis? No Yes Yes Yes
SMS Capabilities? No Yes Yes Yes
Crypto trading? Yes Yes Yes Yes
One-to-one support? No Yes Yes Yes

The MT4 and WebTrader platforms have distinct characteristics which complement one another.  It would be possible to trade the markets using just one of the two platforms but used in conjunction they provide a comprehensive and positive trading experience.

Mobile Trading App

4
Rating

Alvexo provides a robust, easy to use mobile app for customers for both iOS and Android devices. This can be downloaded through the Apple and Google app stores. Through it, users can open, modify, or close existing orders, as well as view real-time profit/loss and interactive currency charts. The mobile app is a seamless extension to the desktop platform and gives users access to their entire account in an instant.

Alvexo Broker Reveiw | Mobile App Simplicity | We Compare Brokers

 

Alvexo’s mobile app (Alvexo Trader) compares very favourably to that offered by other similarly sized brokers that tend to simply display information rather than providing actual trading functionality. By contrast, users of the Alvexo Trader can execute all order types and include stop loss and take profit parameters.

How To Execute a Trade Video

 

Market Research

4
Rating

Alvexo provides an extensive and engaging selection of educational materials.  The ‘Academy’ section of the website provides articles, tutorials and analysis reports that cater to both new and experienced traders.

Alvexo Broker Review | In-house Academy Tutorials | We Compare Brokers

Of particular note is the ‘Advanced Trading Strategies’ section, which presents a range of material to help users take their trading to the next level. This is a welcome addition as some other brokers have a disproportionate focus on newer traders.  The materials tend to be written and presented in an engaging and entertaining way which helps but there is also a well laid out ‘Glossary’ and ‘FAQ’ section for those wanting to confirm their understanding of the basics.

Alvexo has a team of in-house analysts that provide a range of research reports.  All are designed to help traders incorporate global current affairs into trading strategies and they are published as Daily Analysis, Weekly Reports and Market Trends. Of particular significance is the provision of 42 free ‘signals’ a month with these being quoted as being accurate 82% of the time.  Thankfully it’s becoming increasingly common for brokers to offer such resources but the quality of the content produced by Alvexo separates them away from the competition.

Alvexo Broker Review | Time Zone Reporting | We Compare Brokers

As well as this self-led learning there is also the opportunity to engage with a customer support representative that will be allocated to your account during on-boarding.  As mentioned below, once up and trading the support desk is open for only a limited time period each day so users would be wise to try to ask as many questions as possible whilst benefiting from the dedicated one-to-one support received during onboarding.

Customer Service

4
Rating

Multi-lingual customer support staff are on standby from Monday to Friday, 9am – 6 pm.  This is a significantly different offering from the 24/7 support offered by some other brokers. In this reviewers’ experience, especially when compared to other forex broker reviews, the support staff have all been highly knowledgeable and responsive to any queries so it’s to some extent a case of ‘quality not quantity’.

Here are a few extracts from other forex broker reviews:

What others say

See below for several Alvexo review opinions direct from users:

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