Alpho Review 2021

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Alpho Facts & Figures

Trade forex and CFDs with rich trading tools and real-time market data.

InstrumentsForex, CFDs, indices, shares, commodities
Demo AccountYes
Min. Deposit$100
Payment MethodsVisa
Min. Trade0.01 lots
Regulated ByFSA Seychelles
MetaTrader 4No
MetaTrader 5Yes
STP Account
ECN AccountNo
DMA AccountNo
Mobile AppsYes
Auto TradingYes
Social TradingNo
Copy TradingNo
Trade SignalsNo
Islamic AccountYes
Access a range of markets with online CFDs.
FTSE Spread5
GBPUSD Spread3
Oil Spread0.09
Stocks SpreadVariable

Trade the most liquid & volatile forex pairs.

GBPUSD Spread3
EURUSD Spread3
EURGBP Spread4
Risk Warning – Your capital is at risk

Alpho offers a variety of products across multiple asset classes on the MT5 trading platform. This review dives into the broker’s key features, including payments, online trading tools, fees, and mobile apps. We’ll help you determine if Alpho is a safe broker to sign up with.

Alpho Company Details

Alpho is a brand name of Gulf Broker Ltd, a company registered in the Seychelles and regulated by the Financial Services Authority (FSA).

Alpho offers superior customer service on a safe platform to both retail and institutional clients. The broker offers trading in forex, indices, commodities, and shares, using the popular MetaTrader 5 platform.

MetaTrader 5 Platform

MT5 is one of the most widely used trading platforms by both casual traders and professional clients. The platform is easy to navigate and offers over 80 technical analysis indicators and tools, an advanced strategy tester, Level 2 pricing, an economic calendar, over 20 timeframes, and a full set of order types.

Alpho MT5 platform
Alpho MT5 platform

The platform is available for download to Windows computers but is also available as a web version for macOS users.


There are four main asset classes available at Alpho, which include over 60 forex pairs, 14 stock indices, 15 commodities, and many global CFD stocks. This review would have liked to see cryptocurrency trading but a decent range of markets is still provided.

Spreads & Commission

Alpho offers commission-free trading on its accounts, apart from CFD shares which are charged at 0.5% per 1 lot. Typical spreads are fairly high, however, coming in at 3 pips for EUR/USD and 5 pips for major indices like the FTSE 100. This makes the broker one of the more expensive online providers.

Aside from standard swap rates, Alpho also charges a monthly maintenance fee of 10 USD (or currency equivalent) on accounts that have been inactive for at least one month or more. Note that most brokers will charge this kind of fee only after 3 months of inactivity.

Alpho Leverage

Leverage is offered up to 1:500 on forex pairs. This is relatively high and clients should be aware that leveraged trading can carry considerable risk to the inexperienced trader. Margin requirements can be found on the broker’s website.

Mobile Apps

MT5 users can take advantage of the feature-rich mobile app, which works with both iPhone and Android devices. The high-performance interface is customisable and supports many of the same features as the desktop version. Users can access trade history, economic news, and full-fledged charting capabilities. iPad users can also conveniently display four charts in one window.

Alpho mobile trading
Alpho mobile trading

MT5 for mobile is free of charge and can be downloaded from the App Store or Google Play.

Payment Methods

Unfortunately the broker isn’t transparent about deposits and withdrawals with limited information available on the website. This is a shame, as most brokers provide these details as standard. With that said, Alpho does appear to offer Visa and Mastercard payments, but a better variety of funding methods can be found at other competitors. Alpho also isn’t forthcoming about transaction fees which is a red flag.

Demo Account

Another area where this broker falls down is demo accounts. Any beginners looking to practice their online trading skills will need to look elsewhere, as Alpho doesn’t offer practice accounts. The lack of a demo account is a serious drawback in this review.

Alpho Bonuses

At the time of writing, Alpho does not offer any promotions. Traders can check in with the website or social media pages for any upcoming bonuses.


Gulf Brokers Ltd (Alpho) holds a license with the Financial Services Authority (FSA) of Seychelles, under license number SD013. Whilst some level of regulation is good, the FSA is not a highly regarded regulator and therefore will not provide the same level of trader protection as more reputable bodies such as the FCA or CySEC.

Additional Features

Alpho offers a small selection of additional resources, including a market news section and some videos. The education and blog sections are rather neglected, however, and don’t offer as much detail or insight as other brokers. There is also a basic economic calendar, but other useful tools such as forex calculators or webinars are not offered.

Alpho trading news

Alpho Accounts

Alpho offers just one standard account and an Islamic swap-free account. Both accounts offer the same features, including a minimum trade size of 0.01 lots on forex, leverage up to 1:500, and access to the advanced MT5 platform. As with other areas, more transparency on account features and requirements is needed.


Advantages of opening an account with Alpho include:


We did also uncover several downsides in this review:

Trading Hours

Most forex pairs can be traded 24/7 at Alpho. Session times for shares are 11:00 am to 7:30 pm CET for German, Dutch, and Spanish shares; 11:00 am to 7:20 pm CET for Swiss shares; and 5:30 pm to 12:00 am CET for US shares. Hours for commodities and indices vary depending on the instrument and are detailed on the website.

Customer Support

Alpho offers 24/5 customer support via email, at or via telephone, +44 208 089 7805. Unfortunately the absence of a live chat service will disappoint some traders who rely on the convenience of instant customer support.

For the address of Alpho offices, see the broker’s website.

Trader Security

MetaTrader 5 is a secure online trading platform, which provides SSL encryption security on data exchanges and also allows two-step verification at the trader’s choice.

Alpho Verdict

Overall, whilst Alpho does offer a good selection of CFD and forex products on the MT5 desktop and mobile app, there is a lack of competitive additional features for traders seeking a well-rounded experience. Traders may also struggle to trust the broker with the lack of transparency around payments and no demo account.

Accepted Countries

Alpho 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.

Traders can not use Alpho from Afghanistan, Cuba, Israel, Sudan, Korea, Ethiopia, Iran, Bosnia And Herzegovina, Iraq, Laos, Syria, Uganda, Vanuatu, Yemen.

Alternatives to Alpho

If you are looking for alternatives to Alpho we have compiled a list of the top 5 brokers that are similar to Alpho below. This list of brokers like Alpho is in order of similarity and only includes companies that accept traders from your location.

  1. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
  2. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  3. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  4. Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
  5. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets


How do I open an account with Alpho? 

You can register for a live account using the sign-up form on the broker’s website. The form will ask for some personal details and verification documents.

What is the maximum leverage offered at Alpho? 

The maximum leverage available at Alpho is 1:500. Whilst high rates, leveraged trading does come with the risk of larger losses.

What assets are available at Alpho? 

Alpho offers instruments across forex, indices, CFD shares, and commodities. The only notable absence is cryptocurrency trading.

Is Alpho safe to trade with? 

Alpho is an offshore broker regulated by the FSA of Seychelles. Whilst better than no regulation, the FSA is unlikely to provide as much protection as other bodies. Interested traders should be cautious when considering offshore brokers like Alpho.

Where is Alpho based?

Alpho is located at Suite C2, 2 Floor, Orion Mall, Palm Street, Victoria, Mahe, Seychelles. The broker does not have any additional support offices.

Trade forex and CFDs with rich trading tools and real-time market data.

Alpho vs Other Brokers

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