Alpha FX Review 2023

Alpha FX only accept professional traders.
Please see the list of similar brokers or the Best Brokers List for alternatives.

2.5 / 5
Alpha FX is #37 in our broker rankings.

Alpha FX is a sophisticated forex broker supporting spot, forwards and options trading on 88 currency pairs with a selective, tailored experience and dedicated analysts for clients.

Forex, Options
Forex Trading

Alpha FX provides premium forex trading support for a range of major, minor and exotic currency pairs.

Alpha FX, or Alpha Forex, is a currency trading and global payment specialist based in the UK, offering advanced access to the forex market. This Alpha FX review will outline the broker’s products and features, discuss its trading conditions and explore the advantages and disadvantages of opening an account.

Alpha FX Headlines

The Alpha FX Group is a UK based public company listed on the FTSE AIM 100 stock market. Founded in 2010, the broker has rapidly expanded, growing from its London base to acquire offices in Toronto and Amsterdam, all while retaining a small team of around 100 employees.

The forex and payment management services offered by Alpha FX are used by many well-known corporate and institutional investors. The broker focuses on fewer, higher-value clients rather than marketing to lots of traders with smaller equities, with only 750 total clients across over 30 countries.

Alpha FX Ltd is regulated in the UK as a matched principal broker, holding four UK regulatory licences with the FCA. Alpha Forex is also registered within Canada by the regulatory body FINTRAC.

Trading Platform

Alpha FX clients have access to the broker’s own trading platform. The software tool is bespoke and developed in-house to efficiently and easily provide advanced forex trading support and payment services.



Alpha FX differs from many other forex platforms in that it offers bespoke solutions for trading large amounts between currencies. The broker offers an FX Risk Management product from which customers can choose between strategies provided by dedicated forex analysts or an execution-only service.

Alpha FX does not engage with the crypto and stock markets but it does offer spot, options and forwards trading on 88 forex pairs.

International Payments

Alpha FX also caters to the needs of international businesses for a platform to send and receive fast, low-cost, international payments:

Spreads & Commissions

Alpha FX does not disclose any trading costs and fees as each client is dealt with on an individual basis, with services based on their specific trading needs. Upon application, a representative will be able to offer values for spreads and commissions, case-by-case.

That being said, example buy and sell prices are provided on the broker’s website, suggesting spreads of several pips for major currency pairs, which isn’t very competitive.


The leverage capabilities provided by this broker when trading forex are not publicly available and must be ascertained during the application process.

Mobile App

Alpha FX Group Ltd. does not offer a mobile application for on-the-go trading and account management. You may find an app for a company of a similar name but it is not affiliated with this broker.

Payment Methods

Alpha FX does not present its supported payment methods for deposits and withdrawals. However, being a firm with a focus on international payment capabilities, the broker will likely support transactions in a wide range of currencies.

Regulation & Licensing

Alpha Forex is a reputable international forex broker and payment management provider, listed publicly on the FTSE AIM 100.

Alpha FX Limited holds four licences for trading within the UK and is fully registered with the FCA. The broker is also registered with FINTRAC in Canada.

In Europe, Alpha FX Europe Limited is authorised and regulated by the Malta Financial Services Authority.

Additional Features

Alpha FX differs from the majority of forex trading solutions in that it provides dedicated analysts to each client. This allows the broker to work with customers and carefully balance individual hedging requirements, dependent on the desired risk level. This broker provides a far more managed experience than most common forex trading platforms that market towards retail investors.



Trading Hours

Alpha FX follows standard trading hours, with the forex markets open 24/5, Monday through Friday. However, the broker’s consulting staff and customer support are only available during regular office hours.

Customer Support

The team at Alpha Forex is contactable via email and telephone or are available to meet in person at the broker’s offices. The UK brokerage team can be contacted via:

Alpha FX does not have any active social media accounts on Instagram, Facebook or Twitter, though it does have a LinkedIn profile.Alpha FX review 2021, fees, currencies and more


Alpha FX uses appropriate security measures to protect client data from being lost or accessed by unauthorised parties. Access to its trading and communication platform is behind a secure portal protected by username and password.

Moreover, the broker’s regulation by the FCA, FSA and FINTRA dictates that it must provide negative balance protection, limit leverage rates to 1:30, segregate client funds from the company’s own and meet several cybersecurity standards. Additionally, all UK clients will be protected by the Financial Services Compensation Scheme (FSCS).

Alpha FX Verdict

Alpha FX offers a large-scale forex trading and payment collection service tailored to corporate and institutional clients. The broker handpicks its clients based on available funds and targeted trading volumes and frequencies, which may limit its accessibility to some retail traders. However, the security and regulation of Alpha FX are reputable and anyone looking to open an account can enquire using the box below.


Does Alpha FX Offer A Demo Account?

Alpha FX is an institutional-grade broker with a careful policy for selecting clients based on trade volume and frequency. Therefore, the broker does not provide a free demo account to trial its services.

Where Is Alpha FX Based?

The main office of Alpha FX is in London but the company also has offices in Malta for EU trading and Vancouver for Canadian clients.

Does Alpha FX Have A Mobile App?

There is currently no mobile trading app for Alpha FX clients. Orders and accounts can be managed through its secure, browser-based portal.

Who Does Alpha FX Work With?

The firm partners with a small number of high-value clients and has a rigorous selection process. Alpha FX works with well-known companies like ASOS, Holland & Barrett and Halfords, as well as several institutional firms.

What Currencies Does Alpha FX Trade?

Alpha FX supports trading in 88 currency pairs from all over the globe, including GBP, EUR, USD and CHF.

Accepted Countries

Alpha FX accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Payment Methods

Alpha FX Details

Minimum Trade N/A
Regulated By FCA, FINTRAC, FSA
Islamic Account No
Mobile Apps No
Margin Trading Yes
Volatility Index No
Spot Trading Yes
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting No
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Social Trading No
Guaranteed Stop Loss No

Forex Trading Details

GBPUSD Spread 8
EURUSD Spread 2
EURGBP Spread 4
Assets 88

Top 3 Alternatives to Alpha FX

Compare Alpha FX with the top 3 similar brokers that accept traders from your location.

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
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  2. Interactive Brokers – Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Day traders can use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.
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  3. – boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of day trading markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
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Alpha FX Comparison Table

Compare Alpha FX With Similar Brokers
Alpha FX IG Group Interactive Brokers
Rating 2.5 4.4 4.3 4.5
Markets Forex CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, Stocks, Commodities, Crypto Forex, Spot Metals
Demo Account No Yes Yes Yes
Minimum Deposit $0 $0 $0 $100
Minimum Trade N/A 0.01 Lots $100 0.01 Lots
Bonus Active Trader Program With A 15% Reduction In Costs
Education No Yes No Yes
Platforms Own MT4, AutoChartist, TradingCentral AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:30 (Retail), 1:250 (Pro) 1:50 1:50
Payment Methods 6 11 8
Visit Visit Visit Visit Visit
Review IG Group
Interactive Brokers

Compare Trading Instruments

Compare the markets and instruments offered by Alpha FX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Alpha FX Trading Instruments
Alpha FX IG Group Interactive Brokers
CFD No Yes Yes No
Forex Yes Yes Yes Yes
Stocks No Yes Yes Yes
Commodities No Yes Yes Yes
Oil No Yes No Yes
Gold No Yes Yes Yes
Copper No Yes No No
Silver No Yes No Yes
Corn No No No No
Crypto No Yes Yes No
Futures No Yes Yes No
Options Yes Yes Yes Yes
ETFs No Yes No No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

Alpha FX vs Other Brokers

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Alpha FX is a sophisticated forex broker supporting spot, forwards and options trading on 88 currency pairs with a selective, tailored experience and dedicated analysts for clients.