Alvexo Review – Is Alvexo Safe? Features and Fees Explained
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Whether you’re investing in stocks or trading cryptocurrency*, it’s crucial that you partner with a reputable broker that can facilitate your trades safely and cost-effectively. One broker that may be worth considering is Alvexo, which has built up a stellar reputation within the trading space due to its low fees and fantastic educational resources.
With that in mind, this article will present our Alvexo Review in detail, discussing the broker’s top features and showing you how to set up your trading account today – all from the comfort of your own home!
Table of Contents
What is Alvexo?
First thing’s first – what is Alvexo? Put simply, Alvexo is a regulated online trading broker that offers a wide variety of asset classes for users to trade through the use of CFDs. Alvexo was initially launched in 2014 but has grown rapidly over the past few years and is now regulated by CySEC – one of Europe’s most respectable financial regulatory agencies.
If you’re looking to trade stocks, Alvexo offers a great selection of leading companies to invest in, such as Apple and Tesla. Alongside stocks, users can also trade indices, forex, commodities, and even cryptocurrency!* One of the most appealing aspects that we noted during our Alvexo review is that the platform charges no commissions* when you place a trade, as all fees are built into the clearly-quoted spread on each asset.
In terms of the trading experience, Alvexo ensures there’s an option for everyone by offering scope to trade on their web-based platform, mobile app, or even MT4. The latter is likely ideal for people interested in forex trading, as it enables users to build custom strategies and employ numerous technical indicators. Finally, Alvexo also provides an extensive selection of educational materials dedicated to all aspects of the trading process, ensuring new users have the information they need to trade effectively.
Alvexo Pros and Cons
If you’re looking for a brief outline of our Alvexo review, then found below are the main pros and cons as they relate to this platform:
Pros
- Heavily regulated by CySEC
- 0% commissions* when placing trades
- Offers five different asset classes to trade
- Full MT4 support
- Various account types to choose from
- Accepts PayPal
- Over 1.1m registered users
Cons
- Small inactivity fee applies
- The minimum deposit amount could be lower
76.57% of retail investor accounts lose money when trading CFDs with this provider.
Alvexo Supported Markets
Alvexo provides one of the best trading platforms for users looking to create a diversified portfolio, as the platform offers investments within the following five categories:
- Stocks
- Indices
- Commodities
- Currencies
- Cryptocurrencies*
All of Alvexo’s investments are structured as CFDs, meaning that users will not actually own the underlying asset but will instead own a contract that provides exposure to the asset’s price fluctuations. This has numerous benefits, with the main one being the ability to employ leverage – and Alvexo offers up to 1:30 for retail traders. Notably, traders on Alvexo’s professional accounts can obtain up to 1:300 leverage.
Diving a little deeper into Alvexo’s supported assets, users will be able to trade over 58 currency pairs on the platform, including majors, minors, and even some exotic pairs. Alvexo also provides 13 commodities to invest in, with the selection including corn, wheat, gold, silver, and more. Alvexo even offers numerous indices, including instruments that provide the investor with exposure to various European countries.
Alvexo Platforms
When it comes to CFD brokers, one of the critical factors to consider is the trading platforms offered by the broker. Through our testing for this Alvexo review, we found a total of three platforms that users can trade on. We will discuss the mobile app in the following section, but let’s dive in and explore the other two:
Alvexo Web Trader
The Alvexo Web Trader is Alvexo’s browser-based trading platform and can be accessed easily on your computer or laptop. When you log in, you’ll immediately notice how sleek the user interface is, clearly displaying all of the assets that you can trade. By clicking on an asset, a price chart will appear featuring numerous timeframes and even a selection of technical indicators to employ.
If you are an Alvexo+ member, you’ll be able to benefit from trading signals sent three times per day, which are delivered through the trading platform’s dashboard. You can even browse Alvexo’s vast array of video tutorials which show users how to open positions, withdraw funds, and many other common tasks!
MetaTrader 4 (MT4)
Alongside the web-based platform, Alvexo users can also trade on MetaTrader 4 (MT4). In case you aren’t aware, MT4 is a third-party trading platform that is super popular with FX traders due to its customisation options.
Our Alvexo review found that users can log into MT4 using their Alvexo credentials and place trades directly from the MT4 platform or mobile app. By using MT4, traders can employ numerous order types and benefit from rapid execution speeds – making Alvexo one of the best MT4 brokers for traders of all experience levels.
Alvexo App
As noted in the previous section, Alvexo also offers a dedicated smartphone app that users can trade with, available on iOS, Android, and Windows Mobile. The app has numerous valuable features, including real-time price alerts, advanced risk management options, and even a whole host of charting features that enable users to conduct technical analysis.
Your activities on Alvexo’s other platforms seamlessly synchronise with the mobile app, meaning that you can place a trade on the web-based platform and then monitor it on the app throughout the day. Other Alvexo reviews have provided glowing reports on the app’s performance, as it has an average rating of 4.4/5 from 170 reviews on the App Store.*
Alvexo Fees
Understandably, you should consider a platform’s fee structure before deciding whether to sign up or not. With that in mind, let’s take a look at the fees that Alvexo charge:
Trading Fees
The first thing to note is that Alvexo doesn’t charge any commissions when you place a trade. Whether you’re looking to trade cryptocurrency* or invest in another asset class, there will be no transaction fee. The only expense to be aware of is the spread, which is the difference between the bid and ask prices on an asset.
Fortunately, Alvexo’s spreads are competitive, starting at 2.9 pips for users on the Classic account. However, if you were to opt for one of the more advanced accounts (such as the Gold account), the spreads would drop to 2.2 pips. For professional traders who use an Elite account, spreads can even be as low as 0.1 pips on Alvexo’s CFDs!
Non-Trading Fees
Alvexo doesn’t charge a deposit fee or withdrawal fee, which is ideal for saving money in the long term. However, Alvexo does charge a small inactivity fee of 10 units of your base currency (i.e. $10) after three months of no trading. Notably, this fee is charged for every additional month of inactivity until a transaction occurs on your account.
Alvexo Deposits and Withdrawals
Alvexo allows users to fund their accounts with most major credit/debit cards, along with wire transfers and various e-wallets. Notably, our Alvexo review found that the platform does allow you to trade stocks with PayPal, as you can easily link your PayPal account and make deposits that way. Aside from PayPal, Alvexo also accepts Google Pay and Skrill.
The minimum deposit on Alvexo’s Classic account is €500, although this does rise substantially for the more advanced accounts. In terms of withdrawals, these are entirely free to make and usually take around 3-5 working days to hit your account balance.
Alvexo Supported Countries
As a global CFD broker, Alvexo is available in over 190 countries, ensuring millions of people worldwide can access the platform’s services. These countries include Australia, Canada, South Africa, the United Kingdom, Saudi Arabia, and Germany.
However, it’s important to note that US-based and Israel-based traders cannot create an Alvexo account at this time.
Is Alvexo Available in New Zealand?
Alvexo has a stellar reputation in New Zealand and has full support for residents of the country. NZ-based traders can open all account types, from Classic to Elite, and benefit from leverage of up to 300:1 on certain assets.
Alvexo offers the same fees and trading features in New Zealand as it does elsewhere. This means that NZ-based traders can trade commission-free, as costs are built into Alvexo’s spread. Furthermore, the minimum deposit for a Classic account is just $500 – which equates to 797 NZD.
76.57% of retail investor accounts lose money when trading CFDs with this provider.
Is Alvexo Available in Singapore?
Singapore-based traders looking to use Alvexo will be glad to know that the platform is also available in this region. Although the company is headquartered in Cyprus, residents of Singapore can use all of the services provided by Alvexo in other areas of the world.
These include leverage of up to 300:1 and the ability to trade more than 450 assets. Singapore-based traders can also invest via the web app, mobile app, or MT4 – with support for deposits via credit/debit card, PayPal, Apple Pay, and Skrill. Finally, residents of Singapore will also be able to trade commission-free and with tight spreads – even benefitting from a low minimum deposit of $500 (690 SGD)
76.57% of retail investor accounts lose money when trading CFDs with this provider.
Is Alvexo Safe?
When choosing a stock broker, it’s vital to consider the level of safety that a platform can offer its users. Fortunately, Alvexo does have a solid reputation in the trading industry and enables all users to trade as safely as possible.
Regulation
The first thing to note is that Alvexo is regulated by the Cyprus Securities and Exchange Commission (CySEC). This is one of the leading financial regulatory agencies within the EU, so the fact that they regulate Alvexo is a huge plus point. In addition, since Alvexo is a division of the VPR Safe Financial Group Ltd, this adds extra safety and credibility due to the company’s sheer size and reputation.
Security Features
Aside from regulation, Alvexo also offers an array of security features. Users can benefit from negative balance protection, which means that your balance can never go below zero, protecting you from severe slippage. Furthermore, Alvexo keeps its clients’ funds segregated, and all transactions employ advanced security measures to ensure they are as safe as possible.
Alvexo Customer Service
Alvexo offers numerous customer support options, all of which can be accessed through the broker’s official website. Alvexo offers a contact form for users to send in their queries via email, along with the ability to contact the platform via telephone. The great thing is that Alvexo provides phone numbers for various EU countries, ensuring that you can get help regardless of where you’re based.
How to Get Started with Alvexo Today? Detailed Walkthrough
Finally, if you’re looking to invest in stocks (or any other asset class) with Alvexo, it’s crucial to understand how the trading process works. To help streamline the process, the four quick steps below will show you how to get set up and ready to trade with Alvexo – all in a matter of minutes!
Step 1 – Create an Alvexo Account
Navigate to Alvexo’s official website and click ‘Join Now’. You’ll then be asked to enter your name and email address before choosing a password to create your trading account.
76.57% of retail investor accounts lose money when trading CFDs with this provider.
Step 2 – Complete Verification
Head to your account dashboard and opt to complete registration. You’ll then be asked to enter some personal details for the KYC checks and provide some information on your trading experience. After this, upload proof of ID (passport or driver’s license) and proof of address (bank statement or utility bill) to verify your account.
Step 3 – Fund your Account
Click the ‘Deposit Funds’ button and choose the amount you’d like to deposit (minimum €500). You can then choose which deposit method you’d like to use, such as credit/debit card, wire transfer, PayPal, or another e-wallet.
Step 4 – Begin Trading
Now you’re ready to trade! You can search for an asset using its name or ticker symbol in the search bar or choose one of the assets presented on the homepage of the Alvexo trading platform. Click ‘Buy’, and an order box will appear on your screen. Simply enter your position size (in lots) in this box, opt for a stop loss or take profit level if you wish, and then click ‘Buy’ again.
And that’s it! You’ve just placed your first trade with Alvexo – all without paying any commissions!
Alvexo Review – Conclusion
To summarise, this Alvexo review has covered everything you need to know about the broker, touching on its features and showing you how to set up an account in minutes. Alvexo ensures it’s a fantastic option for traders of all experience levels by offering tight spreads, zero commissions*, and numerous assets to trade.
If you’d like to get started with Alvexo today, you can do so by clicking the link below. The account opening process is smooth and can be completed in minutes, after which you can begin trading right away!
76.57% of retail investor accounts lose money when trading CFDs with this provider.
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*CFD trading on Cryptocurrencies is not offered for Clients residing in the United Kingdom.
*Not available for existing ECN Clients, other fees may apply
*App Store reserves the right to change at any time the amount of reviews and overall rating at its sole discretion based on a constantly updating database of reviews. Therefore, the number of the total reviews and grade shown above may not reflect the actual numbers at any given time.
