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Alvexo review and ratings

Established 2014
Location Cyprus Seychelles
Regulation CySEC, SFSA
Offices Limassol, Mahe
Broker type STP | ECN
Leverage up to 1:300
Deposit from 500 EUR
Spreads high  high
Platforms Web MetaTrader 4
Instruments Currencies Crypto Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller

Company information

Alvexo group includes 2 related companies.

Alvexo CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Alvexo SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).

Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, SEY company accepts European traders, so one can open a trading account there.

Availability

Alvexo group accepts clients from all over the world, excluding USA and some other countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

55+ Currency Pairs Based on major and minor world currencies.
15 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin, Monero. Ripple.
16 Indice Futures Based on baskets of different blue-chip stocks and US Dollar Index.
3 Metal Spot CFDs Based on Gold and Silver.
1 Metal Future Based on Copper.
1 Energy Spot CFD Based on Crude Oil (WTI).
3 Energy Futures Based on Crude Oil (WTI, Brent) and Natural Gas.
4 Soft Futures Based on Coffee, Corn, Sugar and Wheat.
300+ Stock CFDs Based on shares of US, UK and EU companies.

Comprehensive review

Alvexo is a forex broker located in both Cyprus and the Seychelles, and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (SFSA).

As usual, traders from EU and EEA countries will by default be signed up with the Cyprus-based branch of the broker, where leverage is limited to a maximum of 1:30 on major FX pairs, in accordance with EU financial regulations. However, in the case of this broker a loophole exists for these traders to instead request to trade with the Seychelles-based branch, and thus be able to enjoy trading leverage all the way up to 1:300.

One of the main selling points for Alvexo is probably the pretty good selection of trading instruments the broker offers. The selection is particularly good when it comes to stock CFDs, with stocks of more than 300 companies listed in the US, UK and EU to choose from. In addition, the broker also offers a pretty wide selection of forex pairs, cryptocurrencies traded against each other as well as against euro and the US dollar, a range of major stock indices from all corners of the world, and a selection of commonly traded commodities.

As usual, all assets are offered in the form of leveraged CFDs, with the highest leverage being available for the major forex pairs, and lower leverage offered for more volatile assets such as stock indices and single stock CFDs.

In terms of trading platforms, Alvexo offers the still-popular MetaTrader 4 (MT4) platform in desktop and web version, in addition to its own proprietary mobile trading app available for Apple and Android mobile devices. Most noteworthy perhaps is that the mobile app is set up to receive daily market analysis (signals) from the broker, as well as real time alerts and certain risk management features not found on most other mobile trading platforms.

Once signed up, new clients get the choice between five different account types; Classic, Gold, Prime, ECN Gold, and ECN VIP. The spreads on trading instruments here start from the relatively high 3.3 pips for the Classic account, down to 0.0 pips for the ECN Gold and ECN VIP accounts. For large traders or anyone who trades on close to a full-time basis, it is therefore clear that the two ECN-type accounts offer the best terms, while the other accounts may be good enough for beginners.

On the whole, however, Alvexo is unfortunately a broker that does not offer the best spreads. Compared to its competitors, spreads here are generally on the high end, and spreads higher than 3 pips really makes trading on a short and medium term basis pretty pointless due to the large disadvantage it puts the trader at.

Fortunately, Alvexo offers excellent customer service available via local phone numbers in 14 countries. This does not mean, however, that the broker has real support teams in those locations, but is simply an offer for traders in those regions to avoid international phone charges when calling support. In addition, the broker is also available via e-mail and live chat for non-urgent matters.

In conclusion, it is safe to say that Alvexo does not have the best spreads in the industry, although they are still far from the worst. On the positive side, however, we like the broker’s mobile trading platform, which appears pretty solid for a proprietary platform. As such, this broker may be a suitable choice for new traders who like the ability to trade on their phone while on the go.

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