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AlainFX-Overview of Minimum Deposit, Spreads & Leverage

WikiFX | 2024-11-22 17:16

Zusammenfassung:Alain FX is a British broker founded in 2015, offering forex pairs, indices, shares and options commodities and CFDs on the popular MetaTrader 5 platform.The company provides three types of accounts, with a minimum deposit set at $100 and leverage up to 1:400.

Alain Fx Review Summary
Founded2015
Registered Country/RegionUnited Arab Emirates
RegulationUnregulated
Market InstrumentsForex pairs, indices, shares, options, commodities and CFDs
Demo Account✅
Leverage1:1-1:400
SpreadFrom 2.5 pips (Basic account)
Trading PlatformMetaTrader 5
Min Deposit$100
Customer SupportTel: +971 528002611
Email: support@alainfx.com
Twitter: https://twitter.com/Alain_fx
Facebook: https://www.facebook.com/alainforex
Physical Address: Unit 1207, 1 Lake Plaza, Plot NO PH2-T2, Jumeirah Lake Towers, Dubai
Regional RestrictionsUSA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People's Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Quebec, Iraq, Syria and Cuba

Alain FX is a British broker founded in 2015, offering forex pairs, indices, shares and options commodities and CFDs on the popular MetaTrader 5 platform.The company provides three types of accounts, with a minimum deposit set at $100 and leverage up to 1:400.

However, Alain FX has not obtained authorization from any financial regulatory authorities.

In addition, Alain FX does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People's Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Quebec, Iraq, Syria and Cuba.

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Pros and Cons

Pros Cons
Multiple trading choicesLack of regulation
Versatile trading accountsHigh spreads
Demo accountsRegional restrictions
Flexible leverage ratios
Commission-free
MT5 support
Multiple payment options
No fees for deposits and withdrawals

Is AlainFx Legit?

The company behind AlainFx, Alains Market Solutions Ltd., has not obtained authorization from the Financial Conduct Authority (FCA) of the United Kingdom or any other regulatory body, lacking legitimate oversight.

What Can I Trade on AlainFx?

AlainFx offers forex pairs, shares and options, commodities and contracts for difference (CFDs) on indices and precious metals. However, it is not advisable to trade any instruments through such an unregulated broker.

Forex pairs: USD / JPY, USD/CHF, USD / CAD, USD/ILS, USD/PLN, USD/CZK, USD/HKD, USD/SGD, USD/MXN and USD/SEK...

Shares and options: US Dollar / Japanese Yen, Australian Dollar / US Dollar, US Dollar / Swiss Franc, US Dollar / Canadian Dollar, WTI Crude Oil/US Dollar...

Commodities: WTI Crude Oil, Gasoil, Brent Crude, Heating Oil, Natural Gas, Wheat, Corn, Cotton...

Indices: US 500 (SPI), US 30 (DOW), US Tech (NDQ), UK 100 (FTS), Germany 30 (DAX), EU Stocks 50 (ESX)...

Tradable Instruments Supported
Forex ✔
CFDs✔
Commodities✔
Indices✔
Shares✔
Options✔
Cryptocurrencies❌
Bonds❌
ETFs❌
What Can I Trade on AlainFx?

Account Type

Apart from demo accounts, AlainFx also offers three types of live trading accounts: Basic Account, Economic Account, and Classic Account. The minimum deposit requirements for these accounts are $100, $500, and $10,000, respectively.

Account TypeMin Deposit
Basic$100
Economic$500
Classic$10,000
Account Type

Leverage

The maximum leverage for the Basic Account is set at 1:400, while for the Economic Account, it is relatively lower at 1:200, and for the Classic Account, it is 1:100.

Account TypeLeverage
Basic1:1-1:400
Economic1:1-1:200
Classic1:1-1:100

However, it is common knowledge that high leverage entails high risk, especially when trading with a broker lacking regulation.

Spread and Commission

Currency pairs spreads listed on the AlainFX seem a little bit wide, the spread on EUR/USD pair around 1.8 pips, EUR/GBP pair around 3 pips, all higher than sector standard.

Spreads also vary depending on various trading accounts, as follows:

Account TypeSpreadCommission
BasicFrom 2.5 pips❌
EconomicFrom 1.7 pips❌
ClassicFrom 0.9 pips❌

All account types are commission-free.

Trading Platform

AlainFx claims to provide the world-leading trading platform MT5, with desktop and mobile versions available. However, we still recommend choosing a regulated broker with legal trading permission from professional platforms like MT4/5 or cTrader.

Trading PlatformSupported Available Devices Suitable for
MT4❌/Beginners
MT5✔Desktop, mobileExperienced traders
Trading Platform

Deposit and withdrawal

AlainFx supports the following deposit/withdrawal methods: credit/debit card, wire transfer, Skrill, Neteller, and WebMoney.

It does not charge any commission for deposits & withdrawal, and it takes 3 to 7 days to withdraw funds.

Deposit and withdrawal

Verbundener Broker

Keine Regulierung
Alain Fx
Name des Unternehmens:Alains Market Solutions Limited
Bewertung
2.07
Offizielle Website:http://alainfx.com/
5-10 Jahre | Verdacht auf Lizenz | MT5-Volllizenz | Regionale Broker
Bewertung
2.07

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