Alpho Broker review [Updated 2022] Review
This broker is relatively new, it was established in 2016 with its headquarters in Seychelles. It`s suitable for retail traders as well as institutional investors. Alpho a registered brand name of Gulf Brokers Ltd – FSA regulated company. Alpho provides access to a broad array of instruments that can be traded on the advanced MetaTrader 5 platform.
The maximum leverage is 1:500, to open a standard account, you need a deposit of 100$. This broker also offers a demo account to explore the broker’s offering. Open one single account and that grants full access to all the 886 instruments which are available to trade.
Alpho homepage
What can you trade with Alpho?
Users can trade on 886 financial instruments like:
– Forex
– Commodities
– Indices
– Shares
I found out in many other reviews, that Alpho provides clients with the fastest execution of their orders.
Regulations
Alpho is a brand name of Gulf Brokers Ltd as confirmed on the broker’s website and Gulf Brokers Ltd is authorised and regulated by the Financial Services Authority of Seychelles (FSA). The Seychelles Financial Services Authority (FSA) is the regulator for non-bank financial services in Seychelles. You can read all about their regulations on their website.
Demo account
As I have mentioned earlier, it’s possible to open a demo account with Alpho. It is free of charge, but I couldn`t find any information about when the demo account expires.
Alpho fees
Traders have to pay a minimum deposit fee. Commission-free trading is available, which takes a profit solely from the spread. Spreads start from 3 pips on the Euro Dollar, which is high compared to other brokers.
Alpho also has a monthly Maintenance Fee of USD 10 for all its current and new trading accounts, and a monthly inactivity fee. They don`t appear to charge deposit or withdrawal fees, although a fee may be charged by the trader’s selected payment processor. Also, conversion fees may apply. All these fees are available on their website for you to go through.
Registration process
The “Join” button is simply everywhere on their website, but after a few minutes of surfing around on their website, I haven`t found the CTA button to open a demo account. On the internet, I found a review with a link to open a demo account. I already spent some time looking for it and then another few to fill the form in, although the form is quite short.
After filling in the information, I received a message saying it’s been successful and now to go to “MyZone”. Until now, I had no idea there is such a thing. Anyway, after clicking “Go to MyZone” another option came up to choose whether I want a demo or live account.
Then another option to create a demo or live account.
I can see I got a virtual deposit of 100 000 USD to play with. The demo account is free of charge I can also have full access to the MetaTrader 5 platform. The broker does not indicate whether the demo account expires, or if it is available for a precise period.
Alpho trading platforms
They provide the MetaTrader 5 platform, which is the updated version of the highly popular MetaTrader 4 platform.
MT5 features:
- flexible trading system
- professional technical analysis
- fundamental analysis
- advanced strategy tester
- trading tab for one-click trading
- highlighted entry and exit points
- NDD/STP
- multi-currency and language
- available on mobile platforms
Alpho website
Their website offers standard features. In the top panel you can choose from:
- Instruments
- Trading
- Research
- About
- Education
- Contact
The interface is functional and reliable. The design of the website is simple, colors are mute all buttons are functional. In the “Research option” I found that the “Blog” page had the same articles as “In Media”. Alpho does not provide any research on their website, except an Economic Calendar. And I`m not sure why this list is called “Research” anyway.
Social networks
From their website, you can access Facebook, LinkedIn, Instagram and YouTube. They are active on Facebook, new posts come once or twice a month, so not too active. They usually post news, facts and some interactive posts, where they ask us questions. For example:
A summary of advantages and disadvantages
I was disappointed by the way I had to look for information about the demo account. I think that needs more highlighting. Then what was unsatisfying was how many times did I have to fill in my data to actually open a demo account. I`m missing some educational videos and webinars. The regulation isn`t as high as with other brokers. On the other hand, you have commission-free trading, the platform is MT5 and there is a wide variety of trading instruments. Also, 1:500 leverage is available on certain asset classes.
Cons:
- hard to find and activate a demo account
- lack of webinars and videos for learners
- lax of regulation
- no live chat
Pros:
- fast email response
- 1:500 leverage
- MetaTrader 5 platform
- wide variety of trading instruments
Pros / Cons
Our Score
This broker is relatively new, it was established in 2016 with its headquarters in Seychelles. It`s suitable for retail traders as well as institutional investors. Alpho a registered brand name of Gulf Brokers Ltd - FSA regulated company.