Updated on August 25, 2016
One up and coming forex broker is getting a lot of notice these days in the forex world. It’s not surprising since they have been developing their systems to provide a superior trading experience. It is fast becoming a leading forex broker. It’s time to learn more through about who they are and what they do.
Alfatrade is shaking up the industry. This broker review will focus on the trading platforms, account setup, educational tools, customer support, and available trading.
Forex traders can utilize 5 different platforms for trading. MetaTrader 4 is the most popular forex trading software in the world and easily integrates with its platform. MT4 Mobile is a mobile iteration of MT4 that is available on Android and IOS devices. It provides the same functionality as MT4 Desktop but on a mobile device. These are standard offerings for most forex brokers.
Traders can utilize WebTrader. This provides a web-based trading package directly on the web servers. They can also utilize Mirror Trader so that they can follow the trading activities of another person. They can also use Guardian Angel. Guardian Angel analyzes your trading pattern and tries to learn how you trade. It offers tailored advice based on those trades.
They provide a wealth of education tools for new and experienced traders. They provide tutorials on how to get started trading forex and tutorials on how to advance your trading strategies. They offer a daily forex news clip to get you up to date on what’s happening that might affect your trading. Regular forex webinars are designed to give you that extra knowledge you need.
Knowledge is power and access to knowledge is the way to get ahead in the information age. Learning the tips and techniques separates the wheat from the chaff and this truly is an area where they shine. Even if you are trading with another broker, you should take the time to check out their educational tools.
Setting up an account with them is very easy and takes just a few minutes. Traders can choose between three different accounts. These are the Standard, the Premium, and the VIP. All of them offer the choice of commission trades or non-commission trades. The Standard Account requires a minimum deposit of $500 to get started with a minimum non-commission spread of 2.5 pips.
You can fund your account using your debit/credit card with a Visa or MasterCard logo or going with an alternative money service provider. Currently, they accept Skrill and Neteller for deposits. Funds from cards, Skrill, Neteller are immediately available. Wire transfer is also available.
Withdrawals take about 2 days to issue and can be initiated online. Withdrawals are handled through the method that you originally deposited funds through. The first withdrawal does require paperwork to satisfy anti-money laundering regulations. Generally, they will need a copy of your identification and proof of address. This is pretty standard and provides an added layer of protection to the trader.
You can trade all the major forex pairs along with a smorgasbord of indices, commodities, and metals through CFD’s. This means you can find the trades that you feel most comfortable with and quickly execute them on the MT4 platform. The small pip spreads provided by the different accounts means that you can look for the small PIP gains that will make you steady money.
While there are many ways to differentiate different forex brokers, customer service is what sets most forex brokers apart. Forex traders work on small pip spreads and focus on lightning fast trade executions. When a glitch occurs or other trouble arises, traders want to be able to quickly contact customer support and get the help they need.
They have 24/5 customer service from knowledgeable agents who know forex and understand trader needs. They can be reached by email, phone, and online chat. They even can handle customer service through team viewer if you need to show them exactly what the issue you are having. That’s the definition of knowledgeable customer service.
While most brokers provide the trading platforms that they provide, customer support and the educational tools really set them apart from other forex brokers. They are on par with other brokers on available trading pairs, but their ease of account setup, funding, and withdrawals make them a very good choice. With this AlfaTrade broker review in hand, it’s clear that they excel in those areas where true broker differentiation occurs.
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