Alpho Review 2023
Trade forex and CFDs with rich trading tools and real-time market data.
Trade the most liquid & volatile forex pairs.
Trade global share CFDs with high leverage.
Access a range of markets with online CFDs.
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.
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.
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.
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.
The MT5 mobile app is also free of charge and can be downloaded from the App Store or Google Play.
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.
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.
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.
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 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:
- Commission-free trading
- Good customer reviews
- 250+ trading products
- Islamic account
- MT5 platform
We did also uncover several downsides in this review:
- Monthly maintenance fee
- Crypto trading not offered
- No live chat support
- Offshore regulator
Trading hours at Alpho depend on the asset traded. Forex trading, for example, is available around the clock throughout the week and weekend. However, opening times for stocks vary depending on the respective exchange, with equities on Spanish, German and Dutch markets available from 11:00 to 19:30, while Swiss stocks are available from 11:00 am to 19:20, and US shares can be traded from 17:30 to 00:00. Note, opening times are listed in CET.
Head to the broker’s website for a full breakdown of trading hours, including upcoming holiday breaks and market closures.
It is also worth noting that spreads typically widen during periods where markets are illiquid with limited volatility.
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.
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.
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.
|Minimum Trade||0.01 Lots|
|Regulated By||FSA Seychelles|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Guaranteed Stop Loss||No|
CFD Trading Details
Forex Trading Details
Compare Alpho with similar brokers that accept traders from your location. Among available brokers these are the most similar to Alpho:
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.
Go to IG Group
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex
Alpho Comparison Table
|Alpho||IG Group||Just2Trade||World Forex|
|Markets||Forex, CFDs, indices, shares, commodities||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds||Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts|
|Minimum Trade||0.01 Lots||0.01 Lots||0.01 Lots||0.01 Lots|
|Regulators||FSA Seychelles||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||CySEC, NFA, FINRA, Bank of Russia||SVGFSA|
|Bonus||–||–||Up to $2,000 for professional accounts||100% Deposit Bonus|
|Platforms||MT5||MT4, AutoChartist, TradingCentral||MT4, MT5, TradingCentral||MT4, MT5|
|Leverage||1:500||1:30 (Retail), 1:250 (Pro)||1:20||1:1000|
Compare Trading Instruments
Compare the markets and instruments offered by Alpho and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|Alpho||IG Group||Just2Trade||World Forex|
Alpho vs Other Brokers
Compare Alpho with any other broker by selecting the other broker below.
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.|