On-line since: About the company: Alfa Financials is a broker who provides trading CFDs, metals, goods and futures in Forex. Company. Security of Funds The company is regulated by the Central Bank of the United Arab Emirates (No 126/5/94) and has been operating for more than twenty years. The Central Bank of the United Arab Emirates is the state institution responsible for managing the currency, monetary policy and banking regulation in the United Arab Emirates. Alfa is one of a small number of investment and brokerage firms to be licensed and regulated by the Central Bank of UAE. The company’s headquarters are located in Dubai. Trading conditions Alfa Financials offers traders a unified account with leverage of up to 1:100 and variable spreads on their own Alfa Trader platform. Micro lots are available. Minimum deposit Traders should invest minimum $10,000 to open an account with Alfa Financials. Such minimum deposit is quite high for the Forex market. Other brokers require less, for example, only $5. Spreads and commissions The only Alfa Financials account provides spreads from 1.0 pips on EUR/USD, and this is an average. However, the clients pay a fixed commission of $15 per lot. Besides, the VAT is charged on all commissions (currently set at 14%). Leverage The maximum leverage level, ensured by Alfa Financials, is 1:100, which is considered a low ratio. However, if you need higher leverage, you can find brokers who offer leverage equal to 1:500 in our rating. Trading platform Alfa Financials provides two trading platforms: AX1 Trader and MetaTrader4. MT4 is well-known among those who trade actively. The main advantage is the opportunity to use advisors to automate your work. AX1 Trader is a new generation platform. Modules, that comprise the platform, render a wide range of individual decisions, eligible for any type of business in the rapidly changing world of financial trading. AX1 Trader is easy to use and provides relatively fast and reliable performance. It offers various order types, including Stop Loss and Take Profit, advanced charting package, as well as technical analysis tools and automated strategies. Support Service The support is available via phone, live chat and callback service. Payment options Unlike most brokers, Alfa Financials does not offer a variety of deposit and withdrawal methods. It only uses bank wire transfer. You can open a live account and make a deposit in USD or ZAR. Advantages:
Disadvantages:
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Alfa Financials is a awful broker. I can not deal on various strategies, but when it comes to trading news events, they are the most horrible. In May 2024 last week the spread jumped 18 pips for US job news. They say that spread 2 pips on Gbp/Usd pair but that is not true. Last Friday they were holding spread on Gbp/Usd 12 pips 20 minutes after news report. In addition, frequently hold it at a high level until a long time after the trade. So I am going to leave Alfa Financials broker.
I don't regret joining Alfa Financials for my forex trading, tough their minimum deposit is so high. I feel so comfortable trading with Alfa Financials, and their trading environment is also enjoyable. The platform is so good, working stable and has instant order execution, real-time prices and no re-quotes, which makes me easy to make a profit. The withdrawal process is always fast approved without any hidden commissions. Customer support also always responds quickly and answers all of my questions. Excellent and top broker..
Alfa Financial platform is full of errors and the execution is always delayed, the price quotes are fake and my profitable trades are closed below TP position. Besides I am unable to withdraw my profits through the Skrill account. So I have contacted their support, they are inactive or didn't respond. So I say that Alfa Financials platform is unreliable
What I like the most about Alfa Financial is their customer care service. The team is very responsive. I can reach them through call and chat and they respond quickly. The company does not make its clients wait. They make sure that every concern is addressed right away.
Alfa Financials is a recommended broker for professional and experienced traders. They provide a profitable trading environment. Their platform is stable, the fees are low, and there are no technical issues while trading. It also has no slippage or requotes. They are also a well-regulated broker. It's always been easy to trade with them, and I never encounter any issue during my trading, deposit, or withdrawal process. Alfa Financials really appreciate their client and handling clients well. I'm so satisfied to trade with Alfa Financials.
Last week closed my account with Alfa Financials and now I am looking for a new broker. Last month I had open two trade on Eur/Usd and Aud/Usd pair on Average Hourly Earnings m/m news but then suddenly my platform started to freeze with note no connection. Instantly I contact through email and they replied me that there were some internal work is going on and platform will be fixed very soon. After 3 hours, when I was able to login my platform, I was surprised that I lost $314. I sent them an email about this issue but they agreed to adjust only 50%. They should pay me full not 50%. I'm closing my account.
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