Alvexo Broker Review
Regulated by: FSA, CySEC
Headquarters Country: Seychelles
Foundation year: 2014
Supported Platforms: MT4, web trader
Minimum Deposit: 500 EUR
Types of Assets: FX, indicies, shares, commodities, crypto
Maximum Leverage: 1:300
Demo Account: No
Regulation and Security
The Seychelles-based HSN Capital Group Ltd. owns the brand Alvexo. The company is subject to FSA rules. However, we discovered that the company was also listed under the name VPR Safe Financial Group Ltd on the CySEC registry. The business is governed by CySEC and is the owner of six European Alvexo domains. To be able to operate in Europe and other parts of the world, it appears that the broker is split between two firms.
We notice some doubtful explanations concerning digital security when it comes to the protection of the funds, but nowhere is it stated where the assets are held or how they are secured.
In which countries does this broker work?
Since the broker is regulated by CySEC, it is permitted to operate in the EEA region. If it follows to its trade rules, it can provide financial services to foreign nations as a CIF. Alvexo Broker is able to offer its services in this situation in China, Egypt, Jordan, Lebanon, Malaysia, Nigeria, Qatar, Russian Federation, Switzerland, and United Arab Emirates. In addition to these nations, the broker may provide financial services globally in accordance with FSA regulations.
Before you begin trading with this broker, we highly encourage you to confirm to which entity you belong because an offshore regulation can never be as powerful as, for example, CySEC.
How Online Trading Scams Work?
The fraud of internet trading occurs when people trade on the stock market. Trading CFDs or on the Forex market are two options. The result is consistent every time. Your money is being stolen by a rogue broker.
When you first begin trading, everything seems great. But at that point, the issues start.
High leverage is a problem with many scam brokers. Clients are able to purchase or sell more assets as a result, which increases the risk of quicker money loss. Because of this, several regulatory organizations in Europe set the leverage limit at 1:10 or 1:30. Leverage in the Alvexo broker’s case is 1:300. You should thus establish an account with great caution.
A web trader is another red flag. Compared to the traditional MetaTrader, the online trader is significantly simpler to manipulate. This is why scam brokers embrace it as a tool.
Another point is that many brokers now allow deposits as low as $25, $100, or even $10. A minimum of 500 EUR is required by Alvexo Broker. This is a big deposit, particularly if you are a novice trader. Additionally, there isn’t a Demo account available for you to test your abilities.
Beware of brokers who are scams.
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