Is Alpho SCAM or NOT?
No, Alpho is a regulated broker. This is not a scam.
There are many internet brokers in today’s world. Some try to attract new customers by their own bombastic graphical website design, while others choose more moderate and conservative presentation in order to make an impression of trustworthiness. Alpho.com website belongs to the second group. The whole web design can be labeled as minimalistic, unfortunately sometimes at the expense of comfort for the user and amount of information for potential customers.
What can be traded?
In the same way as web design, the offer is also very traditional. It is possible to trade Forex, CFDs, commodities and indices. There are more than 250 instruments and currency pairs available for trading. But some newer instruments, such as cryptocurrencies, can not be found here. In offered categories, however, the choice is decently broad.
Alpho broker offers trading using only one platform, Metatrader 5. It’s available in online, desktop or mobile versions. Metatrader 5 is one of the most used trading platforms. It’s very challenging application at first sight, however, there’s a decent number of graphical utilities available in the application.
There is a number of options how to modify the default graph. It’s possible to draw a line, to isolate various trends etc. These functions are available in the web application under the Insert button which opens a context table with additional options.
Showing different time periods or possibility to adjust graphical views are just some of standard functions and are available under the Charts button. Furthermore, Metatrader 5 offers one-click buy and sell functions. Apart from them, the standard command to buy is available and there you can set things such as stop-loss or profit (these are commands to close a trade position when specific loss/profit is reached).
Since Alpho is registered in Seychelles, it’s not a subject of neither European nor American limits of the available leverages, that may reach up to 1:500 for Forex. It is probably not necessary to underline that this type of trading can bring both big gains as well as big losses.
As most of their competitors, Alpho also earns revenue on spreads (a difference between purchasing and sale price of an instrument). Spread level differs significantly between instruments, but this is quite common in this market. Alpho has currently set their spreads in this way:
- Forex: 5 pips and more
- Komodity: 0,07 pips and more
- Indexy: 2 pips and more
- CFD: poplatek 0,5 % of volume
In general, you could say that this broker has low fees for some instruments and relatively high fees for some other. Broker also charges fees (10 USD) for an inactive account, already after 1 month which is significantly shorter time than most of other brokers. A position is closed out in case when margin falls below 30 percent. Unfortunately, it is necessary to mention that Alpho performs margin calls only via the platform and does not contact the client via phone or e-mail.
Starting up a new account is made with Alpho in a similar way to other brokers. There are two things necessary. Any form of identification and a confirmation of address, which can be done by any home utilities bill (electricity, internet etc.) with your name and address on the paper. These steps may seem exaggerated, but brokers use them to prevent illegal transactions and identity thefts.
The Alpho website does not explicitly mention any demo account option, but it is available through the Metatrader 5 online platform. This functionality is available after clicking on the green button „Use online webtrader“, that opens a new window and then click on „Demo“. E-mail address is necessary for registration. This address is not further validated. There are several forex accounts for testing, that are completely sufficient for your trying out, if Metatrader 5 platform suits your needs.
Alpho may be marked as a slightly above-average broker. The web is well designed, but shows relatively little information. Metatrader 5 is a very trustworthy and robust platform, but it may seem old-fashioned for lovers of modern design. The main reason to trade via this web is a very high leveraged that is offered and that enables you to explore very risky operations that may bring you high yields. On the other hand, the potential investor must be sufficiently experienced since it also brings threats of big losses. Broker’s problem is his registration in Seychelles; EU laws do not apply on them. It may be difficult to solve any potential future problems.
Overall assessment: 81 %