Important Information about AlgaTrade Broker
Located in St Vincent and the Grenadines, AlfaTrade is online forex broker providing access to forex, CFDs and metals markets with competitive spreads and different account types to meet your needs. With many brokers available today, this one doesn’t “shine bright like a diamond”.
Location: Oborishte District 21B, Moskovska, Str. Sofia, Bulgaria
Operated by Nemesis Capital BG Limited
The broker offers some sort of mirror trading where you are supposed to copy and learn from the “leaders” of the market. The question is, though, who exactly are those leaders when the total amount of clients of the broker should wish for better days. Minimum lot size on all account types start at 0.1.
AlfaTrade offers wide range of instruments starting from 30+ major and minors to mainstream indices such as the S&P 500 and the NASDAQ as well as CFD. Maximum leverage is 200:1.
As most brokers today, AlfaTrade brings you MetaTrade 4 platform with its unquestionable popularity, powerfulness and comprehensiveness. The mobile version is available for traders on the go suitable for all mobile devices you can think of.
AlfaTrade reviews its tailor-made account types to fit your trading preferences best. Here are your choices:
Demo – practice your strategies before you make a deposit.
Standard account – access to the market with the basic spreads of minimum 3 pips.
Premium account - offers extra features, premium spreads and higher maximum leverage.
VIP – trade the market with the minimum spread of 1.7 on majors and enjoy the benefits of a personal account manager.
The minimum deposit requirement for standard account is $500, which is above the average requirement in the industry today. Compared to other brokers that allow you to trade with $1-$250, $500 is quite a sum for a standard account for beginners. Oh, and if you thought $3,000 is too much, listen to this: VIP minimum deposit requirement is $30,000. Unless the broker fully manages your account with profitable outcome, sends you and your wife to Bahamas for an all-paid honeymoon vacation and takes care of your kids’ tuition fees, we can hardly come up with the reason for such ginormous deposit requirements.
Payment methods for deposits and withdrawals include Wire Transfer, Credit Cards, Skrill, CashU and Webmoney.
Broker’s representatives are available during the working days, 24 hours a day via email, phone, skype and online chat. AlfaTrade is committed to provide quick solutions to all of your queries.