Alfa Forex

Alfa Forex (ООО «Альфа-Форекс») is a Russian forex broker established on 28 August 2019 and headquartered in Moscow at ul. Mashi Poryvayevoy, 7/1. It is affiliated with the Alfa-Bank group, one of Russia's largest private banks. The broker's official domain is alfaforex.ru.

The company presents itself as a leading forex dealer in Russia, offering retail clients access to leveraged trading in forex and CFDs. It was one of the first dealers to provide trading accounts in Chinese yuan. The broker focuses on the Russian domestic market and operates under a license from the Bank of Russia.

Alfa Forex is regulated by the Central Bank of Russia (CBR) under a forex dealer license (registration number 045-14070-020000). This license permits the company to offer forex trading services to Russian residents in compliance with Russian law. The regulatory framework imposes leverage limits (maximum 1:50 for non-qualified investors) and client fund segregation requirements.

While the CBR license provides a degree of oversight, it is limited to Russian jurisdiction. Traders outside Russia should note that the broker is not licensed by major international regulators such as the FCA, CySEC, or ASIC. The broker's disclosure page on its website provides corporate information and legal documentation, as required by Russian law.

The broker offers a single account type tailored to both qualified and non-qualified investors, with different leverage thresholds. For non-qualified investors, leverage is capped at 1:50, while qualified investors can access higher leverage (up to 1:50 in practice per regulations, but the site suggests possible higher for qualified). The minimum deposit is stated as zero; traders only need enough funds to open a 0.01 lot position.

Opening an account is streamlined for existing Alfa-Bank clients via Alfa ID, which provides instant access without document uploads. Non-clients must fill out an online registration form with personal details. The account currency can be RUB, USD, EUR, or CNY.

Alfa Forex provides trading in a range of instruments grouped into categories: currency pairs (including majors, minors, and exotics), precious metals (gold, silver), Russian and US stocks, indices, commodities (oil), and ETFs on Bitcoin. The broker also offers CFDs on these assets. All trading is executed via the MetaTrader 5 (MT5) platform, available for Windows, Mac, iOS, and Android.

The broker highlights 'bank quoting' and 'market execution' as key features, implying that quotes are sourced from its parent bank, Alfa-Bank. Spreads are variable, starting from 1.4 pips on EUR/USD but widening significantly on exotic pairs. The broker does not offer MT4 or other platforms.

Deposits and withdrawals are supported in four currencies: RUB, USD, EUR, and CNY. The broker advertises zero commission on most deposit and withdrawal methods. Funding can be done via mobile banking (Alfa-Bank app with QR code) or internet banking. RUB transfers are processed within 10 minutes, while foreign currency transfers take approximately 1 hour.

The broker does not charge for account maintenance or inactivity, but traders should be aware of potential swap fees for overnight positions. There is no deposit bonus clearly stated, though the broker has a loyalty program that allows accumulation of points.

Alfa Forex is primarily aimed at Russian residents seeking a regulated domestic broker with ties to a major bank. It suits traders who want convenience and integration with Alfa-Bank's banking services. The broker also targets those interested in trading ruble pairs or yuan-denominated accounts.

Because of its Russian license and limited international presence, the broker is less suitable for traders outside Russia or those who require high-leverage, a wide variety of platforms, or exotic instruments. The broker does not provide PAMM accounts or social trading features.