Introduction
AlchFX.com is a social trading and investment platform that allows users to copy the trades of successful traders and to invest in a managed fund. The company was founded in 2014 and is based in Tallinn, Estonia. AlchFX.com has a good reputation and is regulated by the Estonian Financial Intelligence Unit (FIU). The company is also a member of the Investor Compensation Fund (ICF), which provides protection for investors up to EUR 20,000 in the event that the broker becomes insolvent. In this AlchFX review, we will take a look at the pros and cons of the platform and see what users have to say about it in their AlchFX reviews.
AlchFX.com Overview
AlchFX.com is a forex broker that is based in Belize. The company is registered with the International Financial Services Commission of Belize. AlchFX is a subsidiary of Alchemia Limited, which is a financial services company that is based in Cyprus. The company offers its clients the ability to trade in forex, CFDs, and precious metals.
The minimum deposit for an account with AlchFX.com is $500. The leverage that is available to clients of the broker is 1:200. The spreads that are offered by AlchFX on major currency pairs start at 3 pips.
AlchFX offers its clients two types of trading platforms: the MetaTrader 4 platform and the WebTrader platform. The MetaTrader 4 platform can be accessed via desktop, web, or mobile devices. The WebTrader platform can only be accessed via web browsers.
AlchFX provides its clients with 24/5 customer support via live chat, phone, and email.
AlchFX.com Trading Platform
AlchFX.com is a new online foreign exchange trading platform that offers its clients an easy, efficient and user-friendly way to trade forex online. The website provides a wide range of features and tools that allow traders to make informed decisions and execute trades quickly and easily.
The AlchFX.com trading platform is based on the popular MetaTrader 4 (MT4) software from MetaQuotes. This software is used by many professional forex traders around the world and offers a wide range of features and tools including advanced charting, order execution, automated trading, backtesting and more.
AlchFX.com has also developed its own custom indicators and expert advisors (EAs) which are available for download on the website. These tools can be used to help traders make better informed trading decisions or automate their trading strategies.
The AlchFX.com website is available in English, Spanish, French, German, Italian, Portuguese, Russian and Chinese language versions. The customer support team can be contacted via email or telephone 24 hours a day, 5 days a week in these languages.
AlchFX.com Accounts and Fees
AlchFX.com offers three account types: the Basic Account, the Advanced Account, and the VIP Account. Each account type has its own set of fees and benefits.
The Basic Account is best suited for new or inexperienced traders. It requires a minimum deposit of $500 and has a fixed spread of 3 pips. There is no commission charged on this account type.
The Advanced Account is designed for more experienced traders. It requires a minimum deposit of $5,000 and has a floating spread starting at 2 pips. A commission of $4 per lot is charged on this account type.
The VIP Account is reserved for professional or high-volume traders. It requires a minimum deposit of $25,000 and has a floating spread starting at 1 pip. A commission of $2 per lot is charged on this account type.
AlchFX.com Commissions and Spreads
AlchFX.com offers its clients a commission-free trading model. commissions are only applied when a client trades with leverage. The spreads offered by AlchFX.com start from as low as 0.0 pips.
AlchFX.com Review – Pros, Cons and Traders Ratings
As a new entrant in the online retail forex broker space, AlchFX.com has taken an interesting route by offering its clients a commission-free trading model. Commissions are only applied when a client trades with leverage. The spreads offered by AlchFX.com start from as low as 0.0 pips on the EUR/USD currency pair and go up to 1 pip for other major currency pairs such as GBP/USD, USD/JPY and AUD/USD among others. For crosses and exotic currency pairs, the spreads are slightly higher but still competitive compared to what is offered by other brokers in the market today.
One of the key advantages of trading with AlchFX.com is that they offer their clients the MetaTrader 4 (MT4) trading platform which is widely regarded as the most popular and user-friendly forex trading platform available today. In addition to MT4, AlchFX.com also provides its clients with access to WebTrader, a web-based platform that does not require any installation or download and can be accessed from any internet connected computer or mobile device.
Pros and Cons
AlchFX.com is an online forex and CFD broker that was founded in 2012. The company is based in the Marshall Islands and is regulated by the International Financial Services Commission (IFSC). AlchFX offers trading in a variety of instruments including currency pairs, metals, indices, and commodities. The broker also provides access to the popular MetaTrader 4 trading platform.
In this AlchFX review, we will take a look at the pros and cons of this broker to help you determine if it is the right choice for your trading needs.
Pros:
– Regulated by the IFSC
– Provides access to MetaTrader 4 trading platform
– Wide variety of tradable instruments
– Competitive spreads
Cons:
– No US clients accepted
Conclusion
Overall, we found AlchFX to be a great forex broker with a lot to offer its clients. The customer service is excellent and the trading platform is user-friendly and packed with features. The only drawback is that the account minimum is a bit high, but if you can afford it, we recommend giving AlchFX a try.