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Almaforex Review

Almaforex rating: 7 votes, average: 2.29 out of 57 votes, average: 2.29 out of 57 votes, average: 2.29 out of 57 votes, average: 2.29 out of 57 votes, average: 2.29 out of 5 (7 votes, average: 2.29 out of 5, rated)
Write your own review of Almaforex

almaforexAlmaforex.com looks to be a promising forex trading broker although it has been around only since 2008. Almaforex provides traders with up-to-date financial news, Forex daily and weekly reviews, macroeconomic indicators and more to give you a true professional understanding of the entire Forex market. You will feel confident in trading with them, and never doubt your trades again. One important aspect of Almaforex.com is that they don’t change their trading terms when you are actually trading on their platform or in other words their terms always comply with what they declare.

Company’s Market Position

Almaforex is headquartered in Seychelles and is regulated by the Seychelles International Business Authority. Alma Forex broker does indeed provide professional and quality Internet trading services in the Foreign Exchange market .It provides the forex trader with the most favorable and stable trading terms and that enables you to garner maximum profit while using their trading platform.

Types of Services Offered

With almaforex your trading environment is absolutely safe and secure and that allows convenient management of your trade account. With them you could trade in 50 most liquid financial instruments in Forex market, spot gold and silver.Their hallmark is instant execution and automatic order processing for all types of accounts. As a matter of fact the order execution takes just a few seconds

Almaforex gives you the facility of opening a free demo account and all you need is $1 to open a mini account and $100 to open a standard account. You can fund and withdraw money from your account by wire transfer, credit cards, Alert Pay and Web Money.

In almaforex trading platform you can get trading accounts in different currencies as for example in USD, EUR, GBP, CHF, and JPY. The maximum leverage offered is 500:1 or 0.2% and the smallest lot size you could get is 10,000. The spreads offered are fixed and for example the lowest spread for EUR/USD is 1 pip but this is only if you have a standard account or a professional account and is not applicable to the mini account. Apart from spreads they don’t levy any commission or fee.

You could open a Micro account (Minimum deposit $1), Standard Account (Minimum deposit $100) and Professional Account (Minimum deposit $1000). But there are some variations in the types of currencies you could be using to fund these accounts and also in the extent of maximum leverage that could be offered to you. For instance the Micro account can only be funded in US Dollars and the maximum leverage you could get in a professional account is only 100:1. The micro account offers maximum leverage of 500:1, while the standard account offers a leverage of 200:1. You could also put funds into standard and professional accounts in different currencies i.e. in USD, EUR, GBP, CHF and JPY.

Trading Platform

With Almaforex.com you could trade forex via a stable and reliable dealing software called Alma MetaTrader 4. MetaTrader is the most popular and powerful trading platform in Forex.

This client terminal Alma Forex MetaTrader 4 is an online Forex trading broker system that can be used both for online forex trading and technical analyses on the Forex market and also for trading and analyzing, CFD and Futures markets. The key feature of Almaforex MetaTrader 4 is that it provides Internet trading on Forex and also CFDs.This platform also provides you different forex trade execution possibilities as for example Instant Execution and Request Execution.

You can take advantage of the multilingual trading platform interface and use it in the language you are familiar with as for example in English, German, French, Russian, Arabic, Spanish, Farsi, Japanese, Chinese Simplified, Polish, Turkish, Korean, Indonesian, Bulgarian etc.

In addition you also have the advantage of getting complete technical analysis package with wide range of in-built indicators, charting tools, together with the ability to create custom indicators, for different time periods ranging from minutes to months.

This trading platform gives you the unique facility of using its in-built program language MetaQuotes Language 4 to write your own custom trading strategies and offers you the possibility to test those strategies on the historical price data available in the trading platform. Besides that, this trading platform allows you to export real time data export to Metastock and Omega Prosuite 2000.

That apart you have internal mail, News online, history database management and import/export facility and a host of other information. You also have MetaTrader for PDAs and for mobile phones as for example MetaTrader 4 for Pocket PCs, and MetaTrader 4 Smartphone Edition and so on. In all instances the platform has automatic order execution facility.
You could also avail of swap free/Islamic account facility which is an advantage if you were living in an Arab country.

Trader Support

Customer support is usually provided by prompt response to emails.

Site Design and Ease of Navigation
The site design is plain yet attractive with not many advertisements. The navigation is smooth and you could get whatever information you want in a jiffy.

Advantages

The platform does allow you the facility of having trailing stops.
Importantly it is the feature of the lowest fixed rate spread that is attractive. For example, EUROUSD, USDCHF, USDJPY, GBPUSD, AUDUSD and USDCAD have just 1 pip spread which of course is for standard and professional accounts only.
For all types of accounts the order execution is absolutely automatic, with no intermediaries.
Although the minimum deposit is just $1 the maximum deposit is not limited.
It could be a perfect fit for your scalping strategy as for example scalping friendly, 1 pip on majors.
The trading platform is fast and is in fact one of the best low deposit brokers
It takes just a few minutes to fill online forms and open an Alma Forex account.
You can do hedging as well with the same currency pair

Disadvantages

There is no provision for live chat so that’s a disadvantage especially if you run into some problems during your trading activity.

On the whole almaforex is an interesting broker.

Write your own review of Almaforex

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4 Comments»

Comment by nino
2009-07-15 18:44:41

bad bad bad

nino did not rate this post.
 
Comment by johnny
2009-08-17 11:54:38

I found Almaforex impressive in terms of the news feeds, indicators and so on, although they have been around only just over a year. On the whole my trading experience was enjoyable with their platform. Besides they have a lot of options in the type of accounts you could open as for example $1 can get you a micro account, $100 gets you a standard account $1000 a professional account.

Leverage depends on your account type and for my mini account leverage was 500:1, but that sure was risky stuff. Spreads were fixed and for EUR/USD it never exceeded 1 pip, that’s what the site said. But I found spreads in 2-3 pip range and even more for some pairs. May be the 1 pip spread is for the standard account.

Platform was meta trader, so that was powerful. You could either go in for instant trade execution facility or call for the request execution facility. I preferred the instant execution type and I am glad Almaforex showed me how to trade CFD’s, futures and other exotic stuff like gold, silver and a host of different instruments. Charting, indicators, and tech analysis were super stuff, and it helps the platform is multilingual, though it didn’t come of use to me on that. Trailing stops, yes they had it too. If you ask me what was the best feature of Almaforex it surely is the fact that you could open an account for just $1!!

johnny ratings for this post: johnny gives a rating of 3johnny gives a rating of 3johnny gives a rating of 3johnny gives a rating of 3johnny gives a rating of 3
 
Comment by thomas
2009-08-22 11:17:00

Hi,

Guess it’s time to wake up to Almaforex. Of late some traders have been facing difficulties in getting their money out of Almaforex and the price feeds at their website have August tagline. I doubt if they are really in business.I mean which trader would have obscure prices on their websit?

thomas ratings for this post: thomas gives a rating of 2thomas gives a rating of 2thomas gives a rating of 2thomas gives a rating of 2thomas gives a rating of 2
 
Comment by Serjio
2010-01-06 19:05:44

They have long since closed its site, and have long ceased to provide access to forex. This pocketed all customer accounts. Never trust a Chinese brokers – will be more expensive than themselves. Not worth a farthing for your rating, their site is long closed and you still his reytinguete.

Serjio ratings for this post: Serjio gives a rating of 1Serjio gives a rating of 1Serjio gives a rating of 1Serjio gives a rating of 1Serjio gives a rating of 1
 
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