Alvexo reviews
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The Alvexo brand name belongs to VPR Safe Financial Group Limited registered in Cyprus. The broker is supervised by the Cyprus Securities and Exchange Commission. The company focuses on rendering investment services but its toolkit also includes currency pairs, CFDs, shares, and cryptocurrencies.
The broker is committed to provide its clients with the best conditions for online trading round the clock and to guarantee safety of the client’s funds. Account funds are segregated. The company adopts the latest digital security measures to ensure clients’ peace of mind.
Alvexo’s headquarters are situated in Cyprus. Besides, the broker has a representative office in Paris which can be contacted through an agent.
Trading conditions
The broker offers more than 200 trading instruments, including currency pairs, CFDs, indexes, shares, commodities, and cryptocurrencies. The company requires new clients to make a deposit of at least $500. This is a high first-time deposit which is above average in the forex industry. The broker accepts only US dollars and euros. Clients can choose from 5 types of trading accounts: classic, gold, standard, ECN Gold, and ECN VIP. Each type has its own trading conditions and the duration of the services available to a client. Each of the five types is specified on the broker’s website. The company has created a well-rounded website. There is a section with analytical reviews, an economic calendar, and a stream of forex news. The website is not supported in Russian. The broker does not arrange any promo campaigns, bonuses, and contests.
Trading platforms
Alvexo offers its clients one of the most popular time-proven trading platforms, MetaTrader4. Clients have access to it through a mobile app and a desktop version. As an alternative, clients are invited to trade through Alvexo WebTrader which is available through a web browser.
Customer support
In the Contact section, one can find a feedback form and phone numbers of several offices. The broker certainly lacks modern communication means which are widely used by its competitors, for example, skype or a live chat.
Deposit/withdrawal options
The lowest amount allowed for withdrawal is $500 that does not look like a convenient and reliable condition. In fact, Alvexo offers a limited scope of payment options: only bank wire and credit cards.
Reviews from traders
On the Internet, traders post opposite viewpoints on the broker. Some of them blame Alvexo for swindling, other traders recommend cooperating with the company and neglecting negative feedback. In negative comments, people complain about troubles with taking out profits, a too scant choice of withdrawal options, and too high start-up deposit. A lot of traders term Alvexo a common kitchen broker, i.e. scammers. Positive comments are not numerous, they are too vague and superficial. To sum up, make sure you assess carefully all pros and cons before you pick a truly reliable broker, especially when it requires huge start-up deposits.
Advantages and disadvantages of Alvexo
Pro:
- Regulated broker
- Demo account
- Wide range of trading instruments
Cons:
- High start-up deposit
- Amount allowed for withdrawal is $500 and more
- Dubious reputation
Conclusion
A large array of trading instruments, convenient trading platforms, and a decent analytical section distinguishes Alvexo from its competitors. On the flip side, a high start-up deposit spooks most of its would-be clients. Indeed, there are other brokers with more beneficial trading conditions. Obviously, beginners will hardly agree on such conditions, but professional traders will not find anything worthy of their attention. The company does not provide any bonuses and does not hold any contests. Negative reviews raise doubts about the broker’s honest reputation.
