Alvexo is the trading name of the Cypriot company VPR Safe Financial Group Limited that is regulated by the Cyprus Securities and Exchange Commission (CySEC).
The broker offers more than 40 trading instruments separated into currency pairs, shares, indices and commodities.
Customers can trade with the desktop version of well-known MetaTrader 4 (MT4), offering plenty of features, as well as with Sirix-based WebTrader, accessible from any computer connected to the Internet. There is also a mobile application available for Android, iOS and Windows Mobile devices.
The broker provides four kinds of accounts intended for different levels of trades:
- Classic Account is suited to all traders. It requires a minimum deposit of USD500, its spreads start from 3.3 pips and the least deal size is 0.01 lot;
- Gold Account offers better trade condition but requires a minimum deposit of USD2,500 and the lowest traded volume to be 0.05 lot. In addition, spreads start from 2.2 pips and clients can receive the economic calendar as an SMS;
- ECN Account is created for dedicated professionals and requires a deposit of at least USD5,000 and the minimum deal size of 0.05 lot. Here spreads start from 0.1 pips and clients have a direct line to the dealing room;
- Prime Account is intended for peak trading and requires a minimum deposit of USD10,000 and the trading volume must be at least 0.25 lot. The smallest spread here is 1.8 pips and in addition customers receive technical analysis reports.
The maximum offered leverage is 1:400 and this could increase the risk of loss. Moreover, there is no negative balance protection and clients could lose more money than they have in their account (‘a large additional loss’, Risk Disclosure shows). The result will be a deficit that has to be deposited, if the client wishes to trade again through this broker.
Clients should know there is slippage and their orders could be executed at a different than expected price. Slippage usually occurs during periods of high volatility (news announcement, economic events and so on.) The legal documents also inform Stop Loss and Take Profit orders are non-guaranteed and will be executed at the first available market price, so the losses could be more than projected.
Terms and Conditions document informs that the company transmits all the clients’ orders for execution to its liquidity providers and Alvexo is never the counterparty in any deal. That means Alvexo acts as a Straight-through Processing or STP broker and is not a market maker. The company derives its profits from the offered spread only, regardless of whether the client wins or loses.
Websites provides some useful tools such as market updates, trading signals, economic calendar and trading calculators. There is a separated section called Trading Academy where can be found articles, tutorials and glossary.