Alfa Financial Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Alfa Financial - Their office is located at City Centre Deira on Port Saeed Road; and generally tends to attract investors within Dubai.
Yes, this broker's official website and app are legit, safe and trustworthy for UAE citizens and residents.
Alfa Financial has decent reviews on Reddit and Quora, including satisfactory ratings on sites like Trustpilot. Thus, overall this broker is considered reliable for online trading of currencies, cryptocurrencies, CFDs and stocks.
Alfa Financials is an online financial trading platform and multi-asset
broker that was created in 1987 in the United Kingdom.
After more than 35 years in business, ALFA FINANCIALS has expanded to provide individual investors with Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading services.
ALFA FINANCIALS is a multinational broker with offices in many countries. ALFA FINANCIALS is headquartered in the United Arab Emirates.
When it comes to trading in the financial markets, finding a broker that fulfils your requirements may be a time-consuming process.
In this ALFA FINANCIALS review, we'll go into great detail about how effectively the ALFA FINANCIALS platform performs in its capacity as an international multiple financial asset trading platform for investors.
It is critical to your success in online trading that you work with a reputable and qualified broker. Make certain that your broker is not a fraud or otherwise untrustworthy in order to prevent losing your money. In order for you to have a successful and lucrative working relationship, be sure that your requirements match the characteristics of your broker.
We have taken the effort to analyse only top-tier brokerage businesses, their procedures, fee structures, and all other critical components of their operations and operations management. We want you to assess, analyse, and place your faith in only the safest and most reputable brokers with your hard-earned money. We hope you have found our ALFA FINANCIALS review to be informative.
This in-depth examination of the ALFA FINANCIALS platform is quite thorough. You should spend the time necessary to read and investigate the whole ALFA FINANCIALS review if you are considering doing business with them in any form.
Tweets by AlfaFinancials To the best of our ability, we have attempted to explain the ins and outs of financial trading through the ALFA FINANCIALS platform as simply as possible so that you, the trader, can be as informed as possible before you begin to use any of the ALFA FINANCIALS trading tools or to deposit or withdraw funds from the ALFA FINANCIALS trading platform.
When it comes to risk, investing online may be just as dangerous as making any other kind of offline investment. As with any investment, it is critical to thoroughly study and understand the firm with whom you are working. When trading financial assets with ALFA FINANCIALS, such as Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading, it is important to understand the risks associated with each trade. Alfa Financials deserves your trust, and you can be confident in knowing that the administration of your financial interests on the ALFA FINANCIALS platform is in capable and experienced hands.
At the bottom of this ALFA FINANCIALS review, you'll find information on some reasonably priced alternatives to ALFA FINANCIALS as well.
We hope that our ALFA FINANCIALS review will assist you in determining whether or not ALFA FINANCIALS is a suitable match for you.
It is a widely held belief that internet trading is simple. Investing in stocks online is challenging, and traders must do their own research and have a clear grasp of what they are doing. You will gain valuable facts about ALFA FINANCIALS in this article, which will assist you in getting off to a strong start in the world of online trading.
ALFA FINANCIALS is a multi-asset platform that offers over 29 different trading instruments. ALFA FINANCIALS offers a wide range of assets, including forex trading, CFD trading, spread betting, social trading, and share dealing, among others.
ALFA FINANCIALS is a financial asset trading company that deals in a variety of financial assets. In finance, a financial asset is any security or asset that has a monetary value associated to it, regardless of whether it is physical or intangible. In other words, financial assets such as forex trading, CFD trading, spread betting, social trading, and share trading are all considered financial assets.
ALFA FINANCIALS provides five different trading options: forex trading, CFD trading, spread betting, social trading, and share dealing (foreign exchange). It is dependent on your location in the globe and with which entity you have an account that the assets and products that are accessible to you on the ALFA FINANCIALS trading platform are determined.
With ALFA FINANCIALS, you will be required to make a deposit of at least $500. It is possible to register for a demo account in order to get more familiar with the ALFA FINANCIALS platform.
The traders at ALFA FINANCIALS come from a variety of backgrounds and experience levels, whether they are professionals or beginners.
When selecting a broker, such as ALFA FINANCIALS, it is essential to consider the administrative body and regulatory status of the broker in question. When brokers choose to execute transactions without the oversight of a regulating organisation, they are acting at their own risk. Any money you put up for investment is at risk.
ALFA FINANCIALS was established in 1987 and has been in existence for 35 years. The company's headquarters are in the United Arab Emirates.
ALFA FINANCIALS is a company that is regulated. This implies that ALFA FINANCIALS is regulated by the Financial Conduct Authority (FCA) and is subject to oversight and conduct checks by the FCA regulatory entities.
Because of the laws that have been put in place, regulated brokers are very unlikely to influence market pricing. When you submit a withdrawal request to ALFA FINANCIALS, your request will be processed promptly. If ALFA FINANCIALS is found to be in violation of any regulatory requirements, their regulated status may be revoked.
Trader payments made to ALFA FINANCIALS accounts are maintained in a separate bank account from the company's general funds.
In order to provide additional security ALFA FINANCIALS does this via the usage of tier-1 institutions. In the banking industry, Tier 1 is the recognised indicator of a bank's financial health and strength.
If you deposit money with ALFA FINANCIALS, you may rest certain that your cash will be held in a bank with sufficient capital to satisfy your withdrawal requests even if ALFA FINANCIALS falls out of business for any reason.
Thus, we can confidently say that ALFA FINANCIALS is a relatively secure and safe investment.
Having said that, please keep in mind that dealing in financial assets has a risk of losing money. Accounts may lose money as a result of either not putting in enough effort into studying the markets, a lack of knowledge, or a failure to take use of the tools supplied by the brokerage platform.
While trading in financial assets, it is not unusual to lose money quickly as a result of Forex trading, CFD trading, Spread Betting, Social Trading, and Share Dealing, among other things. Do not risk your money in trading before you realise that your invested cash is subject to loss at any moment as a result of fluctuating market conditions. ALFA FINANCIALS additionally makes it plain on their website that your money is at danger of being forfeited.
As a result of our answers to some critical questions about ALFA FINANCIALS, we can go on. Let's take a closer look at the ALFA FINANCIALS features one by one.
When you are dealing with ALFA FINANCIALS, you should consider opening two accounts. One is a genuine account, which contains your actual money, while the other is a demo account, which has no money. The demo account serves as a testing ground for new ideas.
We investigated and discovered that ALFA FINANCIALS is governed and overseen by reliable organisations. You have the ability to look up and contact any ALFA FINANCIALS supervisory and regulatory agency listed below. In the event that you have a problem with ALFA FINANCIALS, the law provides you with various options. When a broker goes bankrupt, regulatory authorities provide traders with safeguards like as reimbursement systems, which allow them to get their money back if they lose their investment.
In order to maintain their licences and continue operating in those areas, brokerage companies must adhere to a range of regulations and criteria that are defined by the regulatory authorities in each country. The whole purpose of regulation is to safeguard ALFA FINANCIALS traders and to create a more secure trading environment. It is critical to have financial control and licence clearance.
ALFA FINANCIALS is controlled and regulated by respected financial regulatory agencies, and it is subject to their oversight. A regulatory body will keep an eye on the conduct of the brokers, and if something goes wrong, they will take the appropriate measures. Before engaging in online trading with a broker such as ALFA FINANCIALS, you need make certain that they are a genuine online trading company.
Alfa Financials is a global trading platform in the sense that it is present in 194 countries, including those in Europe, Asia, Oceania and Africa. It is also a global trading platform in the sense that it operates in 194 countries worldwide. The United Kingdom, Germany, Australia, South Africa, Thailand, the United States, and China are among the major nations covered by ALFA FINANCIALS. ALFA FINANCIALS has more than 100,000 registered users in total.
A minimum deposit of 500 GBP/USD/EUR is required to start an ALFA FINANCIALS trading account with the company, according to the company.
A minimum deposit is the smallest sum of money that ALFA FINANCIALS requires
from you in order to create a new online brokerage account with the company.
Don't be put off by the fact that certain brokers, such as ALFA FINANCIALS, need a minimum deposit to create a trading account. Brokers with higher minimum deposit requirements often provide extra premium services on their platforms that are not accessible for free on other platforms.
Brokers with smaller minimum deposits are often oriented toward a more broad audience that does not need some of the more complex services and research tools available at higher minimum deposit levels.
In most cases, brokers that do not need a minimum deposit do so in order to attract more new consumers. Because they must generate a profit in some manner, transaction commissions and other trading costs may be greater in accounts with low minimum deposit requirements.
Brokers that demand a bigger minimum deposit amount frequently provide a broader selection of trading capabilities on their platforms. These brokers often provide more in-depth technical analysis and research tools, as well as superior risk management capabilities.
Minimum deposit requirements for opening a real-time trading account have decreased as a growing number of brokers compete for new customers as more and more online trading platforms have joined the market.
Depending on the broker, there are different withdrawal procedures that must be followed in order for monies to be removed from your trading accounts.
This is due to the fact that each brokerage business will have a different withdrawal method, and each payment provider may have a different transfer processing cost, processing time, and possibly currency conversion fee depending on the payment provider. The Conversion cost is determined by the base currency, the receiving currency, and the payment provider you choose to process your transaction.
Alfa Financials, for example, enables you to withdraw your money by bank transfer.
ALFA FINANCIALS does impose a fee for accounts that are inactive.
An account inactivity fee is a fee that is charged to a registered brokerage client who has not used their account in the previous month.
According to the terms and conditions of the accounts, brokers may have specific trading activity requirements that clients must meet in order to maintain their accounts.
If a customer's trading account is inactive for an extended length of time as determined by the broker, an inactivity fee may be charged to the client.
It is not just online trading accounts that are subject to inactivity fines. Many financial service businesses may impose inactivity fees if you do not use their services. It is important that you review the broker's website to ensure that you are informed of and satisfied with all of the services and costs that may be paid to you.
If you are no longer utilising your trading account, you should terminate it with the broker's customer service department. Also, be certain that you have written assurance that any outstanding costs are not owed.
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An inactivity fee may only be charged in particular situations, depending on the sort of account you have signed up for and the amount of time you have been inactive. According to the rules governing brokers, they are expected to explicitly disclose any inactivity costs that they may be charged.
Depending on your brokerage business, you may be charged inactivity fees as compensation for retaining your account on their pricey trading platforms, in an effort to recover income lost due to the absence of commission fees generated by your trading.
ALFA FINANCIALS does charge a fee for making a deposit.
Because some brokers may charge a fee when money are transferred from your payment method to your trading account, it is always a good idea to double-check deposit costs. This is due to the possibility that the payment method you select to fund your account may incur a cost.
When you deposit a certain fiat currency into your account, the charge may be a one-time set amount. When depositing cash from a credit card, for example, it is well known that costs are considerable. This is only applicable if your broker permits credit card deposits into your account.
If a broker provides a service to you, such as enabling the purchase and sale of financial assets via your trading account, the broker may charge a commission fee.
It is possible for a brokerage to derive the majority of its income from the commission fees charged to registered traders on client transactions.
Commission costs might vary based on the trading style, the financial asset type, and the level of your trading account that you are using to make the trade.
Broker commissions are levied if your order is fulfilled, if your order is cancelled, or if your order is modified by the brokerage on your behalf.
If your brokerage company fails to complete a market order, you will often not be charged a commission.
It is important to note that if your order is amended or cancelled, your brokerage firm may assess a commission cost.
Due to legal constraints, separate organisations operating under the ALFA FINANCIALS Brand may offer different trading products to different customers. The trading instruments available may vary depending on the Client's place of residency as well as the organisation that maintains the client account in question. Additionally, the trading instruments made available by ALFA FINANCIALS may differ based on which trading platform you choose to use to conduct your transactions.
With ALFA FINANCIALS, you may trade a large range of products, in fact, there are 29 different instruments available.
In the event that you are seeking for Forex brokers to trade currency pairs on the worldwide Forex markets, ALFA FINANCIALS offers over 100 different currency pairings to choose from.
ALFA FINANCIALS provides access to the widely used MT4 forex trading software. See our comparison of MT4 brokers for a comprehensive list of the best MT4 brokers.
A native ALFA FINANCIALS iOS or Android app installed on your phone or tablet will perform much faster than the Avatrade website on the same device, according to the company.
ALFA FINANCIALS also offers mobile applications for both Android and iOS devices, making it easier to keep track of and execute trades while on the go. Download the app today.
MetaTrader 4, popularly known as MT4, is one of the most widely used trading platforms accessible today. It has been in active use on financial markets since 2005, and it is one of the most popular trading platforms available. In addition to providing a feature-rich, user-friendly interface, the MetaTrader 4 software also provides an exceptionally customizable trading environment, all of which are intended to meet all of your trading demands while also boosting your trading success. Charting capabilities as well as advanced order management tools are included.
Be aware that the MetaTrader 4 (MT4) trading platform was designed mainly for the purpose of trading forex, but that it may also be used to trade other forms of financial products such as CFDs and Spread Betting. On any MetaTrader 4 (MT4) platform, you will be unable to trade stocks, indices, commodities, exchange-traded funds, or futures contracts unless they are traded as CFD contracts or Spread bets. Because you are speculating on price fluctuations with ALFA FINANCIALS, you will not be acquiring any underlying assets when you trade CFDs or Spread bets. More information about the MT4 Platform may be found here.
There are many ways to get started with the MetaTrader 4 platform with ALFA FINANCIALS, including via an online web platform, a downloaded programme for Windows PCs, and an application for Apple Macintosh computers. ALFA FINANCIALS MetaTrader 4 is compatible with the most recent version of Mac OS X, Mojave (10.14.4). ALFA FINANCIALS enables traders to trade on mobile devices, including Android and iOS devices such as the iPhone, using their trading platform.
Android mobile devices and tablets are used by millions of people all around the world, including the United States. With the MetaTrader 4 platform, ALFA FINANCIALS offers its clients with access to the financial marketplace from their Android-based smartphones and tablets. This allows customers to monitor the financial marketplace and trade directly from their smartphones and tablets. Trading using the ALFA FINANCIALS MetaTrader 4 Android application allows traders to take use of a variety of sophisticated trading tools, allowing them to monitor and trade Forex while on the move in a simple and secure manner.
The ALFA FINANCIALS advanced trading tools for MetaTrader 4 are designed to enhance the overall trading experience while also giving traders with a competitive edge in the marketplace. In addition to 20 special tools, ALFA FINANCIALS provides access to feature-rich trade execution and administration systems, smart notification alarms, communications capabilities, novel market data, and other useful resources.
MetaTrader 4 MultiTerminal is an intuitive and simple-to-use interface that allows traders to manage and monitor many trading accounts at the same time. Using MultiTerminal, you will be able to handle up to 100 accounts at the same time, placing market orders, pending orders, seeing live market prices, and tracking all accounts and equity in real time. It is necessary for all trading accounts to be on the same MetaTrader server. The use of Expert Advisors and other automated trading scripts is not supported by MultiTerminal.
ALFA FINANCIALS is a financial services company. Autochartist delivers the world's first Market Scanner accessible for MT4 that is based on an Expert Advisor script that is not used for trading. Using a single graph, you may scan the markets for trading opportunities while seeing all symbols and time periods at the same time. No longer do you have to waste time opening a plethora of graphs and then forgetting which currency you're looking at when you get to the end of them. Autochartist provides a straightforward user interface that may be tailored to your own trading preferences.
A pioneer and worldwide supplier of internet trading services, Alfa Financial is regulated by the Central Bank of the United Arab Emirates and is headquartered in Dubai. In order for our customers to benefit from a one-to-one connection focused on optimising trading skills in order to make profitable investments, we at Alfa Financial guarantee that they get personalised service. With our set spreads, conventional leverage, minimal margin, and committed client assistance, we have earned a reputation for honesty and trust in the financial industry.
The following trading instruments are available: 50+ CURRENCY PAIRS - MAJOR, CROSSES, AND EXOTICS
Yes, there is a demo account. It is strongly suggested that prospective clients practise their trading abilities with virtual money on AX1 Trader Demo for at least one month before attempting to trade with real money in a live account. Each user receives a virtual sum of $25,000 upon account registration, which may be utilised for practise purposes for a period of 30 days after account registration.
There is no web-based platform available at this time. In order to trade with Alfa, you must first download and install the necessary software. There is no other way to do business.
When opening a real trading account, the broker demands an initial deposit of $5000. This amount is required once you have properly read, understood, and accepted how to use our trading platforms by utilising the AX1 Trader Demo.
Once all of the necessary papers have been completed and submitted with the necessary supporting documentation, live trading accounts are typically established within one business day.
Advanced trading platforms and a unique trading environment designed specifically for a broad customer are available.
A trading environment that is fair and ethical for all customers, regardless of their net capitalization, the amount of their investment, or the kind of account they have.
Since 1993, we have been licenced and controlled by the Central Bank of the United Arab Emirates, the Dubai Chamber of Commerce and Industry, and the Economic Department of Dubai.
Fast execution and liquidity, automatic withdrawals of trading winnings, and safeguarded cash deposits in segregated accounts are all features of the trading platform.
High leverage and low margin requirements - giving traders leverage of up to 1:100 and margin requirements as low as 5%.
Overall, our online Alfa Financial review was completed using information gathered from the trial trading platform and the forex broker's website, among other sources. If you would like to contribute information to this online Alfa Financial broker review or if you discover any inaccuracies in this Alfa Financial broker review, please contact us and we will make the necessary adjustments.
Using years of financial knowledge in Forex, CFDs, and social trading, the authors of this Alfa Financials review have brought it up to date.
Please keep in mind that the information in this Alfa Financials review does not apply to users in Brazil, the Republic of Korea, Iran, Iraq, the Syrian Arab Republic, Japan, or the United States of America owing to regulatory restrictions.
This Alfa Financials review reflects the most up-to-date information available on Alfa Financials at the time of writing.
If you are new to the world of online trading and brokers, the sheer number of details that you will have to learn will no doubt be overwhelming. Getting started in the world of online trading necessitates the use of expert assessing skills as well as thorough understanding. As you continue to trade, you will get more knowledgeable about all of the ideas of online trading and brokers. For starters, you must choose the most qualified agent who will communicate with you in an open and honest manner at all times.
In this fast-paced world of financial markets and internet trading, you will want advice in order to make the best possible choices for your future. A professional, direct investing programme may be able to assist you in minimising any possible losses while also increasing any potential rewards. Alfa Financials is just one example of a platform that may be of use to you. It is critical that you understand everything about Alfa Financials before you put your confidence in them with your money.
Our complete Alfa Financials Review will teach you all you need to know about trading with Alfa Financials. Good brokers can take your initial investments and help protect them from losses while also providing you with a platform that can assist you in making profits on your investments. If you want to make money in the stock market, you must trade with a brokerage service that is in opposition to your investment objectives.
Although there is no foolproof method of guaranteeing earnings, you should thoroughly research and evaluate your potential agent before deciding to work with them. Many people have the notion that all real estate brokers are the same, but this is not the case. In the beginning, making the wrong decision might put your assets in jeopardy.
In the brokerage market, Alfa Financials has made a name for itself as a trading partner that does business effectively. In this review, we've attempted to compile a number of the most important aspects of Alfa Financials's business operations. This review can assist you in determining whether Alfa Financials is a good match for your own investment objectives or not. We've attempted to break down all of the features and prices into manageable chunks for your convenience.
Alfa Financials is a forex broker with its headquarters in the United Arab Emirates, and it offers a wide range of instruments for online trading. Since starting its operations in 1987, Alfa Financials has established itself as a dominant participant in the internet trading business worldwide. Its trading website, which is incredibly respected and well-equipped, focuses on currency trading as well as index trading, metal trading, stock trading, and commodity trading.
Alfa Financials has evolved over the course of 35 years to become one of the most respected internet brokers accessible to the general public.
After being established in 1987, their clientele has grown to include more than 10,000 individuals.
Alfa Financials is a favourite of many stock brokers and investors. Alfa Financials was proven to be a fantastic solution for automatic trading options throughout our Alfa Financials study. It is best suited for investors who are looking for a diverse range of assets to invest in. Alfa Financials' principal business is the development of social and automated trading systems.
Alfa Financials is heavily reliant on technological advancements. Alfa Financials offers trading on MetaTrader 4 (MT4), Trader Desktop, Android, Mac, IPad, and Alfa Trader, amongst other platforms. According to the Financial Conduct Authority, Alfa Financials is a fair and transparent agent who also happens to be a well-regulated agency (FCA). They have an exceptional collection of tools that will be useful to the vast majority of traders. In addition, third-party collaborations provide in-house research.
The trader resource section at Alfa Financials is very beneficial to novice dealers since it helps them to have a more in-depth understanding of the financial markets. Alfa Financials is a broker that caters to a wide range of traders and is a must-have for any well-diversified technique of online trading, including binary options.
Alfa Financials is a bustling platform that offers a variety of online trading tactics to its users. These instruments have a wide range of applications in the financial markets. Alfa Financials differs from the majority of brokerage platforms in that it has fewer processes.
The Alfa Financials trading platform will demand a minimum deposit of $500 before you can begin to trade. If you want to start trading with Alfa Financials, you'll need to make a deposit of at least $100. This Alfa Financials review for 2022 will help you make an informed decision about whether or not to trade with them.
Alfa Financials offers the same level of customization as any other broker platform. A reasonable range of low-cost services is what Alfa Financials is all about for traders looking for a low-cost service provider. The programmes supplied by Alfa Financials are third-party, white-label services. All traders have the option to choose between MetaTrader 4 (MT4), Trader Desktop, Android, Mac, iPad, and Alfa Trader, among other platforms.
Alfa Financials, when taken as a whole, offers several advantages to both novice and experienced traders, and should be thoroughly studied. There is no need that a transaction be open for more than a certain amount of time. The brokers provide superior customer service in exchange for which they reward their clients with benefits.
Many unscrupulous brokers attempt to coerce consumers into taking out greater loans in exchange for higher-priced services. Alfa Financials, on the other hand, is primarily concerned with trade volume. Traders may expect fair, honest, and transparent trading circumstances in their transactions. The more lots exchanged by the user, the more rewards will come along.
Alfa Financials accounts are available all over the world, and the company is known for providing excellent service wherever it has customers. Alfa Financials accounts are not accessible in a few countries, including the United States. Traders from the countries listed below are unable to establish or use an Alfa Financials account:
Brazil, the Republic of Korea, Iran, Iraq, the Syrian Arab Republic, Japan, and the United States of America are among the countries represented.
Established in 1987, Alfa Financials has been in existence for 35 years, they have a main office in UAE
A governing body, the Financial Conduct Authority, oversees Alfa Financials (FCA). These data are governed by laws that require trading platforms to put safeguards in place to keep investors' funds safe. Because Alfa Financials consumers' money is separated and carefully stored in well-established institutions, they don't have to be concerned about their money's safety. SSL encryption protects the personal information of every user as well.
Alfa Financials offers the option of using two-factor authentication (2FA) to increase the level of security available to you. The confirmation code will be delivered to you through SMS message on your phone. You'll be asked to enter this code to log in to your accounts.
Another issue to be concerned about with online brokers in terms of safety is the possibility of trade manipulation. Users of these platforms suffer as a result of this significant disadvantage. Market Maker agents, for example, who compete with consumers on stage, are a good illustration of how ubiquitous this is.
A governing body, the Financial Conduct Authority, oversees Alfa Financials (FCA).
Alfa Financials has been in business for more than three decades.
Alfa Financials provides customer service on the telephone.
The customer service department of Alfa Financials is accessible by email.
Alfa Financials provides access to customer service via a live chat feature.
Alfa Financials does not impose any fees for withdrawals.
Alfa Financials employs more than 100 people.
Alfa Financials enables scalping.
Hedging is permitted at Alfa Financials.
Alfa Financials provides the ability to trade metals.
Alfa Financials is a company that allows you to trade energy.
Alfa Financials has not received any awards to yet.
Alfa Financials does not provide guaranteed stop-loss protection.
Negative balance protection is not available via Alfa Financials.
It is necessary to make a large minimum deposit with Alfa Financials.
Alfa Financials levies an inactivity fee for each month that the account is inactive.
Although Alfa Financials offers a small number of trading products, it is a reputable company.
Alfa Financials does not allow the trading of cryptocurrencies.
Alfa Financials does not provide social trading services at this time.
Alfa Financials does not provide duplicate trading services.
Alfa Financials does not allow for the trading of commodities.
A governing body, the Financial Conduct Authority, oversees Alfa Financials (FCA).
Alfa Financials, as a firm, has a robust set of procedures in place to ensure that trading on its platform is conducted fairly. It provides an industry-standard secure socket layer (SSL) for use in data encryption applications (SSL).
Following the organization's privacy policies, information pertaining to customers is not permitted to be shared with other organisations or persons. Includes credit history and other financial information, among other things.
Alfa Financial is a Dubai-based forex brokerage that was founded in 1993. It is headquartered in Dubai. According to their website, they are licenced and controlled by the Central Bank of the United Arab Emirates, the Dubai Chamber of Commerce and Industry, and the Economic Department of Dubai, despite assertions to the contrary in certain internet reviews. It is claimed by Alfa Financial that they thoroughly investigate every product and clearing business that they provide to consumers, and that all have been authorised by the Central Bank of the United Arab Emirates. In contrast to other financial institutions, Alfa Financial does not handle its customers' accounts; rather, it acts as a middleman between its clients and international clearing houses.
Trading in Forex pairings, CFDs on commodities such as metals and energy, and futures in metals, agriculture, and currencies are all available to Alfa Financial users as well. There is a maximum leverage of 1:100 available for use in this strategy. In addition to the majors, the website offers a comprehensive list of Forex pairings, which includes twenty-one cross currency pairs and ten exotic currency pairs, among other things. Traders may take use of Alfa Financial's margin trading capabilities. Because it is considered a loan, they charge interest on the amount of margin borrowed, thus it is suggested that you only use it for short-term trading.
Trading platforms are available to consumers at Alfa Financial, with a choice between two. The AX1 platform is obviously preferred by the site, and it is available for both desktop and mobile (iOS and Android), while MetaTrader 4 is only available for the PC platform. Even though we haven't come across the AX1 platform with any other brokers, it appears to be a refreshing change from the standard MT4 platform.
A demo account and a real-money account are the two kinds of accounts that may be opened on the Alfa Financial website. The website does not make it apparent what the minimum deposit amounts are for the live account, what the spreads are, or any other account information. According to the company's FAQs, in order to begin trading with them, you must first download the AX1 platform trial version and then establish a sample account. Most brokers provide a demo account as a courtesy, but only a handful of them demand a download in order to continue trading. We were perplexed by this requirement, particularly given the fact that the MetaTrader 4 platform is also accessible. To trade with Alfa Financial, you must make a deposit of a minimum of $10,000. As a result, we do not suggest this brokerage to people who are new to the foreign exchange market.
The customer assistance provided by the organisation seems to be more than enough. Live chat is available, as are customer service desk hours of operation, the opportunity to request a call back, and email accessibility.
It is concerning that there appear to be a large number of customer complaints about Alfa Financial on the internet. Avoid investing with this brokerage unless you have received genuine recommendations and personal tales from others beforehand.
Alfa Financial is a currency brokerage firm based in Dubai that offers a variety of services. There are two trading platforms available: the MT4 trading terminal and the AX1 trading platform. Traders have access to exceptionally generous leverage of up to one hundred to one. Furthermore, there is a wide variety of trading products from which to choose, but a required minimum deposit of $10 000 is required, which we believe is far too high in our opinion.
A financial and monetary intermediary is defined as a corporation that is registered in Dubai and is officially regulated by the Central Bank of the United Arab Emirates as a Financial and Monetary intermediary, according to the website of the company behind the brokerage. Online foreign exchange trading is fully incorporated into the regulatory framework of the nation and, in reality, falls under the regulatory monitoring of the Central Bank of the Republic of Kazakhstan.
After consulting the online registration of the financial authority, we can confidently state that the brokerage is, in fact, licenced by the authorities in the United Arab Emirates. The Central Bank imposes a number of stringent standards, one of which is a minimum need for operating capital of at least $272 000 dollars. There are rather rigorous regulatory requirements imposed by the Central Bank of the United Arab Emirates, which requires a minimum operating capital of at least 1 million dirhams (about 272 000 USD). Furthermore, the Bank mandates that at least 60% of the capital be held in national shares, and that the acting intermediary be a citizen of the United Arab Emirates.
Further research on the website reveals that the brokerage offers both the MetaTrader 4 and the AX1 trading platforms, which we consider to be a significant benefit. Traders have access to significant yet well-balanced leverage of up to one hundred to one. We would like to remind readers that the European Union has established a restriction of 1:30 on the amount of leverage that brokers may give. A stunning $10 000 is required as a minimum deposit, which is just too costly for most people to afford. This implies that prospective customers of the brokerage must risk a significant amount of cash in order to acquire a taste of trading with the brokerage - an amount that, in our opinion, is too high. Typically, a $250 or less deposit is required for Forex brokerage. A further drawback we observed when analysing the brokerage is that we were unable to instantly register for a demo account, and as a result, we were unable to get familiar with the trading conditions of Alfa Financial – and, more crucially, the spread on the EUR/USD currency pair. Every spread more than a pip and a half is considered to be very unfavourable for traders.
Overall, the brokerage seems to be trustworthy, despite the fact that there are a few drawbacks, which we discussed in this review, such as the absence of a sample account and a lack of information on the payment options that are accessible. Despite the fact that the brokerage is registered, and traders may expect professionalism both from representatives of the brokerage and from relevant authorities in the United Arab Emirates, we are not inclined to propose traders risk such a large sum of money.
As a reminder, trading with an unregulated brokerage entails significant risk, which traders will avoid if they opt to trade with a brokerage that has been approved and controlled by an established regulatory authority. Such regulatory bodies like the Financial Conduct Authority in the United Kingdom or the Cyprus Securities and Exchange Commission (CySEC) have been prominent names in the forex trading industry for quite some time. A lot of severe measures are in place to protect customers from becoming the victims of fraud within their regulatory environment. Such restrictions include the segregation of accounts, which ensures that money from one client's account does not come into contact with another client's money. Furthermore, involvement in a financial system through which customers may be paid if they incur losses as a result of fraud or bankruptcy is a condition of receiving a licence from a regulatory authority of this kind. With the FCA the compensation is up to 85 000 GBP, while as with CySEC it is up to 20 000 EUR per individual.
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Another significant disadvantage for the broker is the fact that we were unable to locate any relevant information on the payment methods that are currently offered on the website. Typically, brokerages accept at least the most common credit cards, such as Visa and MasterCard, as well as several e-wallets. When it comes to Alfa Financial, however, we can't predict how potential clients will deposit or withdraw their funds. We have heard that the brokerage does not charge any withdrawal fees, and we are inclined to trust them since the brokerage has a licence from the United Arab Emirates, which gives it respectability.
Learn more about online trading brokers for UAE citizens and residents.
Sites like Alfa Financial in the UAE
Here is a list of top online brokers to open an account for trading Forex, Bitcoin, CFDs and Stocks in the UAE. These brokers have above-average reviews on sites like Reddit, Quora and Trustpilot; and are totally legit, safe and trustworthy for UAE citizens and residents.
The brokers listed on this webpage accept clients from within the United Arab Emirates. Most of these companies provide an online trading platform for fiat currencies (such as Pound Sterling, the Euro, the US dollar, Japanese Yen etc.), buying and selling of cryptocurrencies (for example Bitcoin, Ethereum, Tether, XRP etc.), stocks (this includes listings on Abu Dhabi Securities Exchange, Borse Dubai, Dubai Mercantile Exchange, Dubai Financial Market and NASDAQ Dubai), CFDs (Apple, Microsoft, Amazon, Google, Tesla etc.), UAE government and corporate bonds, and short-term to long-term fixed income securities.
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- OANDA - American broker that is now spreading its wings. (OANDA Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- ADSS - Based out of Abu Dhabi and regulated by the Central Bank of the United Arab Emirates. (ADSS Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- Orient Finance - Local online-trading broker that caters to novice traders looking to invest in the foreign exchange markets. (Orient Finance Review)
- Alfa Financial - Their office is located at City Centre Deira on Port Saeed Road; and generally tends to attract investors within Dubai. (Alfa Financial Review)
- One Financial Markets - Local forex broker with an office at Dubai International Financial Centre at Index Tower. (One Financial Markets Review)
- Amana Capital - A broker located at Central Park Towers, Dubai International Financial Center. (Amana Capital Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Century Financial - Old online-trading broker with an office at Level 6, Building 4, Emaar Square, Downtown Dubai. (Century Financial Review)
- IFCM UAE - Nothing special about IFC Markets, but it does have a dedicated .AE website for UAE clients. (IFCM UAE Review)
- EARNEX - This one is present at Jumeirah Lakes Towers and is licensed by the SCA. (EARNEX Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- Gulfbrokers ae - Dubai Multi Commodities Centre (DMCC) regulates this broker, but there nothing extraordinary about this brand. (Gulfbrokers AE Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.