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The Alvexo brand name belongs to VPR Safe Financial Group Limited registered in Cyprus. The broker is supervised by the Cyprus Securities and Exchange Commission. The company focuses on rendering investment services but its toolkit also includes currency pairs, CFDs, shares, and cryptocurrencies.
The broker is committed to provide its clients with the best conditions for online trading round the clock and to guarantee safety of the client’s funds. Account funds are segregated. The company adopts the latest digital security measures to ensure clients’ peace of mind.
Alvexo’s headquarters are situated in Cyprus. Besides, the broker has a representative office in Paris which can be contacted through an agent.
Trading conditions
The broker offers more than 200 trading instruments, including currency pairs, CFDs, indexes, shares, commodities, and cryptocurrencies. The company requires new clients to make a deposit of at least $500. This is a high first-time deposit which is above average in the forex industry. The broker accepts only US dollars and euros. Clients can choose from 5 types of trading accounts: classic, gold, standard, ECN Gold, and ECN VIP. Each type has its own trading conditions and the duration of the services available to a client. Each of the five types is specified on the broker’s website. The company has created a well-rounded website. There is a section with analytical reviews, an economic calendar, and a stream of forex news. The website is not supported in Russian. The broker does not arrange any promo campaigns, bonuses, and contests.
Trading platforms
Alvexo offers its clients one of the most popular time-proven trading platforms, MetaTrader4. Clients have access to it through a mobile app and a desktop version. As an alternative, clients are invited to trade through Alvexo WebTrader which is available through a web browser.
Customer support
In the Contact section, one can find a feedback form and phone numbers of several offices. The broker certainly lacks modern communication means which are widely used by its competitors, for example, skype or a live chat.
Deposit/withdrawal options
The lowest amount allowed for withdrawal is $500 that does not look like a convenient and reliable condition. In fact, Alvexo offers a limited scope of payment options: only bank wire and credit cards.
Reviews from traders
On the Internet, traders post opposite viewpoints on the broker. Some of them blame Alvexo for swindling, other traders recommend cooperating with the company and neglecting negative feedback. In negative comments, people complain about troubles with taking out profits, a too scant choice of withdrawal options, and too high start-up deposit. A lot of traders term Alvexo a common kitchen broker, i.e. scammers. Positive comments are not numerous, they are too vague and superficial. To sum up, make sure you assess carefully all pros and cons before you pick a truly reliable broker, especially when it requires huge start-up deposits.
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Conclusion
A large array of trading instruments, convenient trading platforms, and a decent analytical section distinguishes Alvexo from its competitors. On the flip side, a high start-up deposit spooks most of its would-be clients. Indeed, there are other brokers with more beneficial trading conditions. Obviously, beginners will hardly agree on such conditions, but professional traders will not find anything worthy of their attention. The company does not provide any bonuses and does not hold any contests. Negative reviews raise doubts about the broker’s honest reputation.
I think Alvexo is no more reliable as they unable to maintain their good platform. Along my journey with them, I experienced few times crashed on platform and realized it always happened during major news release. Alvexo hooked me by offering a $100 bonus for opening an account. At first look, their terms and conditions doesn't seem to have anything wrong in it but if you read it over and over again, you'll realize that you're agreeing to be scammed by this broker. They made it using the bonus. I contact to finance division and they should responsible to the loss but they denied the fact that the mistake was by them. They stole my money I won’t believe this broker again.
when I open their platform again same problems again, this always happens especially during news events. You simply cannot trade during news events. I tried scalping in the hope that I might earn some profits even though it may be small. But that is not possible with this broker because of the unstable platform and the delay in the execution. My current balance is already below my capital and I don't wanna lose any more money especially when it's clearly not just because of my lack of experience but because of this terrible broker.
I closed my account at Alvexo because I don't think I was getting progress in my trading activities. Also, there is a minimum limit on the amount of withdrawable funds. For me, this restriction is just unreasonable and we should be allowed to withdraw any amount we want because it is our money.
I have a classic trading account with Alvexo for six months. While my experience isn't good with their MT4 platforms and Alvexo WebTrader platform. As My order didn't execute orders on time and the social trading facility didn't work too. In new order could be open 20 sec to 2 minutes delay and my pending orders didn't hit TP or SL on time. Besides their payment gateway is offshore and withdrawals fees. So I think Alvexo isn't suitable for me.
I decided not to use this broker again after some bad things happened. Alvexo reviews already seem to get negative everywhere. They make the withdrawal process becomes very difficult. Deposit is fast and simple, but not with the withdrawal process. I ask my problem, they can not give a good explanation. program and system that they provide can not be helpful me. I act quickly, so as not to get even bigger losses, and I also suggest those who are not familiar with forex, to be careful in choosing a broker. They seemed to look like want to take deposits and profits should I get