Overview of ALPHA TRADEX
Alpha Tradex Ltd, established in 2019 and registered in Saint Vincent and the Grenadines, offers trading services in metals, forex, indices, and commodities. The broker operates without regulatory oversight following the revocation of its registration by the Australia Securities & Investment Commission (ASIC). Alpha Tradex provides Standard, ECN, and Swap-Free accounts with a minimum deposit of $50 and leverage up to 1:500 for forex. Clients can use the MetaTrader 4 (MT4) platform and various deposit and withdrawal methods, including cryptocurrencies. However, the broker's website is inaccessible currently.
Pros and Cons
Alpha Tradex provides access to the widely used MT4 trading platform. The broker also offers three distinct account types, with high leverage of up to 1:500. Multiple payment methods, including debit and credit cards, bank transfers, and various e-wallets, offer flexibility and convenience for deposits and withdrawals.
However, Alpha Tradex is not regulated. Its license with the Australian Securities & Investments Commission (ASIC) has been revoked. Furthermore, the official website is no longer accessible, which limits the ability of traders to gather information or access their accounts. There is also a lack of transparency regarding fees, which can lead to unexpected costs for traders.
Is ALPHA TRADEX legit or a scam？
Alpha Tradex is currently unregulated after the revocation of its Australian Securities & Investments Commission (ASIC) license. Unregulated brokers often lack safeguards and transparency.
Market Instruments
The broker provides a broad array of trading instruments across various asset classes, including metals, forex, indices, and commodities.
Metals: These include valuable metals such as gold and silver, known for their stability and use as hedging instruments.
Forex: Involves the trading of global currencies, providing high liquidity and a variety of currency pairs.
Indices: Represents baskets of stocks, offering exposure to entire markets or specific sectors.
Commodities: Encompasses physical assets like oil and agricultural products, influenced by global supply and demand.
Account Types
Alpha Tradex requires a minimum deposit of $50, and offers three types of trading accounts: Standard, ECN, and Swap-Free.
The Standard Account offers maximum leverage of 1:500 for forex, 1:100 for indices, and 1:100 for commodities, and features spreads starting from 1 pip.
The ECN Account also provides the same maximum leverage, leverage of 1:500 for forex, 1:100 for indices, and 1:100 for commodities, and offers spreads from 0 pips, ideal for traders seeking lower transaction costs.
The Swap-Free Account meets the needs of traders requiring swap-free conditions, with the same leverage - 1:500 for forex, 1:100 for indices, and 1:100 for commodities. Spreads start from 0.8 pips.
All account types support trading in forex, CFDs, and commodities.
How to Open an Account with ALPHA TRADEX
Alpha Tradex's website is currently inaccessible. For help with opening an account, contact their customer support via phone at +41 315-281-429 or by email at support@alphatradex.com.
Leverage
Alpha Tradex offers a maximum trading leverage of up to 1:500 for forex trading. Leverage for indices and commodities is limited to 1:100. Being an unregulated broker, Alpha Tradex's provision of such high leverage could be a strategy to attract more traders.
Spreads & Commissions
The Standard account offers spreads starting from 1 pip. The ECN account provides tighter spreads from 0 pips. For those requiring a swap-free solution, the Swap Free account offers spreads starting from 0.8 pips.
Trading Platform
Alpha Tradex supports the versatile MetaTrader 4 (MT4) platform, celebrated for its comprehensive features and ease of use. Accessible on desktops, web browsers, and mobile devices, MT4 offers advanced charting tools, in-depth technical analysis, and automated trading via Expert Advisors (EAs).
Deposit & Withdrawal
Alpha Tradex provides several payment methods for deposits and withdrawals. The available methods include debit and credit cards, bank wire transfers, and various e-wallets such as Skrill, Neteller, FASAPAY, UPayCard, PayTrust, and cryptocurrencies like Bitcoin, BitcoinCash, Ethereum, Dash, Ripple, and Litecoin.
Customer Support
Email: support@alphatradex.com
Phone: +41 315-281-429
Conclusion
Alpha Tradex offers trading services in metals, forex, indices, and commodities. While it provides three account types, a familiar MT4 trading platform, and high leverage options of up to 1:500, its lack of regulation following the revocation of its ASIC license indicates potential challenges. The inability to access the official website hampers transparency, making it challenging for traders to acquire vital information or manage their accounts. Additionally, the absence of clear fee structures can lead to unexpected costs.
FAQs
Q: Is Alpha Tradex a regulated broker？
A: No, Alpha Tradex is unregulated following the revocation of its ASIC license.
Q: What trading platform does Alpha Tradex use？
A: Alpha Tradex provides the widely recognized MT4 platform.
Q: How much is the minimum deposit required？
A: The minimum deposit starts at $50 across all account types.
Q: What leverage does Alpha Tradex offer for trading？
A: The leverage goes up to 1:500 for forex, and up to 1:100 for indices and commodities.
Q: How do I contact Alpha Tradex support？
A: Customer support is accessible via email (support@alphatradex.com) and phone (+41 315-281-429).
Q: Which deposit and withdrawal methods can be used with Alpha Tradex？
A: Debit/credit cards, bank transfers, e-wallets, and cryptocurrencies like Bitcoin and Ethereum are accepted.
Risk Warning
Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.
Additionally, the review's generation date is a critical consideration, as information may have evolved since then. We strongly advise readers to verify updated details directly with the company before making any decisions, as the readers must be aware of and willing to accept the inherent risks involved in utilizing this information.
2024-07-04 11:54
2022-11-30 18:03
