Founded in 2006, Alpho is an offshore regulated broker registered in Seychelles. It provides various trading assets, like forex, shares, commodities and indices. Besides, it also offers the most popular trading platform MT5.
Pros and Cons
Is Alpho Legit?
Alpho operates under offshore regulation, specifically overseen by the Seychelles Financial Services Authority (FSA). While this regulatory framework provides a structured environment for operations, it is important to note that offshore regulation typically offers a different level of oversight compared to onshore or more stringent regulatory bodies.
What Can I Trade on Alpho?
How to Open an Account?
Opening an account with Alpho is a straightforward process, consisting of four clear steps:
- Registration: Begin by visiting the Alpho website and accessing the registration page. Complete the registration form by entering your first name, last name, email address, and phone number. Ensure the accuracy of the information provided as it will be used for account verification and communication purposes.
- Account Verification: Upon submitting the registration form, Alpho will send a verification email to the email address provided during registration. Check your inbox and click on the verification link to confirm your email address. Additionally, ensure that the phone number provided is accurate, as Alpho may send an SMS verification code for account activation.
- Account Activation: After successful verification of your email address and phone number, proceed to activate your account. Follow the instructions provided in the verification email or SMS to activate your account securely. You may also have the option to input a promo code if applicable.
- Legal Documents Consent: Before finalizing the account creation process, review and consent to the legal documents presented by Alpho. These documents typically include terms of service, privacy policy, and risk disclosure statements. By expressing your consent to these documents, you acknowledge and agree to abide by the terms outlined by Alpho.
Leverage
In respect to trading leverage, the maximum trading leverage for Forex instruments is up to 1:500. This is relatively high and clients should be aware that leveraged trading can carry considerable risk to inexperienced traders.
Spread and Commission
The spreads of Alpho varies by the assets.
For commodities, the typical spread ranges from 0.02 pips.
For forex, the typical spread ranges from 3 pips.
For indices, typical spreads range from 2 pips.
Additionally, trading shares needs a commission fee of 0.3% (min 20 USD) out of volume.
Trading Platform
Seychelles
Over again.
Peru
So, far my registration, funding, trading and daily, weekly and monthly account feedbacks has been awesome. They also have a good customer relationship. The existence of a cent account which you can use to learn forex instead of using a demo account.
Positive
zhangkeer
Ukraine
Their response is timely when you have an issue. Though I have a problem with the payment method set for instance when you deposit using PayPal you can't withdraw the funds to mpesa. Ensure flexibility in withdrawal of funds, one should be able to withdraw funds using payment method of their choice regardless of which payment method they used to deposit.
Neutral
FX1048741102
Peru
So far, I feel that the service provided by alpho is not bad. I have been trading for a month and the current withdrawal is normal. But I read on wikifx that it's a scam... should I close the position immediately and withdraw all my money?
Neutral
FX1029549370
Thailand
I just cannot believe in offshore-regulated forex brokers. Trading conditions on this platform seem average, what makes it worse is a monthly maintenance fee of $10 is applied for its current and new trading accounts. Overall, I don’t recommend this kind of broker…
Neutral