Alpha FX Review 2023
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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.
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.
Products
Forex
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:
- Easy processing of mass payments
- Full-value settlements in up to 140 countries
- Local settlement of funds in over 70 countries
- Avoid conversion costs through using local currency accounts
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.
Leverage
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.
Benefits
- 88 forex pairs
- Customisable experience
- Dedicated account managers
- Bespoke service for each client
- Experienced and internationally regulated broker
- Spot, forward and options trading in foreign exchange markets
Disadvantages
- Hand-picking clients makes the broker inaccessible to many retail traders
- High trade value and volume requirements
- Limited information provided online
- Access forex markets only
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:
- Email Address: info@alphafx.co.uk
- Office Telephone Number: +44 (0)20 3800 0120
Alpha FX does not have any active social media accounts on Instagram, Facebook or Twitter, though it does have a LinkedIn profile.
Security
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.
FAQs
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 |
| ELWs | No |
| REITs | 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.
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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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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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Forex.com – Forex.com 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
| Alpha FX | IG Group | Interactive Brokers | Forex.com | |
|---|---|---|---|---|
| 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 |
| Regulators | FCA, FINTRAC, FSA | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA | SEC, FCA, IIROC, SFC | NFA, CFTC |
| 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 Review |
Interactive Brokers Review |
Forex.com Review |
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.
| Alpha FX | IG Group | Interactive Brokers | Forex.com | |
|---|---|---|---|---|
| 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. | ||
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