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Thailand|2-5 years|
MT5 Full License|Global Business|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|


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AlpfxCompany-Demo MT4
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135/22 Amornphan 205 Tower 2, Flr. 9, Nathong Alley, Ratchadaphisek Rd., Din Daeng, Din Daeng, Bangkok, 10400


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Warning: Low score, please stay away! 3
Previous Detection : 2024-07-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • United StatesNFA (license number: 0561384) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0561384)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

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ALPFOREX · WikiFX Survey

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ALPFOREX · Company Summary

Aspect Information
Registered Country/Area Thailand
Founded Year 1-2 years
Company Name ALPFOREX
Regulation No Regulation
Minimum Deposit $10
Maximum Leverage Up to 1:1000 (Standard Account), Up to 1:500 (ECN Account)
Spreads Varying spreads depending on currency pairs and indices
Trading Platforms MetaTrader 4 (MT4)
Tradable Assets Forex, Stock Indices, Gold/Silver Bars
Account Types Standard Account, ECN Account
Demo Account Available
Islamic Account Not mentioned
Customer Support Line: @alpforex Facebook: ALPFOREX Email: Address: 9th Floor, Amtel Building, 148 Des Voeux Road Central, Central, Hong Kong
Payment Methods Not mentioned
Educational Tools Video tutorials


ALPFOREX is a brokerage firm based in Thailand that has been operating for 1-2 years. It is important to note that ALPFOREX is not regulated by any recognized regulatory authority. This lack of regulation raises concerns about the safety of client funds and the fairness of the trading environment. Traders should exercise caution and consider the potential risks associated with trading with an unregulated broker.

ALPFOREX offers two main types of trading accounts: the Standard account and the ECN account. The Standard account is suitable for traders who prefer a traditional approach, offering spreads starting from 1.0 pip and no commissions per lot. On the other hand, the ECN account caters to those seeking enhanced market liquidity and direct access to interbank pricing, with spreads starting from 0.0 pip but a commission of $10 per lot.

The brokerage provides access to a range of market instruments, including Forex, stock indices, and precious metals like gold and silver. Traders can utilize the popular MetaTrader 4 (MT4) platform, known for its user-friendly interface and comprehensive features. ALPFOREX also offers educational videos to assist traders in navigating their trading experience effectively.

While ALPFOREX aims to provide customer support through Line, Facebook, and email channels, it is essential to consider the risks associated with trading with an unregulated broker. Traders should carefully assess the potential drawbacks and limitations of trading with ALPFOREX, including the absence of regulatory oversight and the implications it may have on their trading activities and fund security.


Pros and Cons

ALPFOREX offers several advantages to traders, such as multiple account options tailored to diverse needs and access to popular trading platforms like MetaTrader 4 (MT4), which provide comprehensive analysis tools and efficient trade execution. The company also supports various payment methods for deposits and withdrawals. However, one significant concern is the lack of regulation, which raises questions about the security and transparency of the brokerage. Additionally, the absence of regulatory oversight means that traders may have limited protection and recourse compared to regulated brokers. Potential traders should carefully consider these pros and cons before engaging with ALPFOREX.

Pros Cons
Multiple account options for diverse needs Lack of regulation
Access to popular trading platforms Potential security and transparency concerns
Support for various payment methods Limited trader protection


ALPFOREX is a brokerage firm that operates in the financial markets. However, it is important to note that ALPFOREX is not regulated by any recognized regulatory authority. As of the last known information, which is May 28, 2023, there is no valid regulatory information available for this broker.

The lack of regulation means that ALPFOREX does not adhere to the guidelines and oversight put in place by regulatory bodies. This absence of regulation raises concerns regarding the safety and security of clients' funds, as well as the transparency and fairness of the trading environment.

It is crucial for individuals considering trading or investing with ALPFOREX to be aware of the associated risks. The absence of regulation implies that there may be limited legal protection and avenues for recourse in case of disputes or issues with the broker.


Market Instruments

ALPFOREX offers a range of market instruments for trading. Here are the main instruments available:

1. Forex (Foreign Exchange): ALPFOREX allows you to trade in the global foreign exchange market. Forex trading involves buying and selling currencies, taking advantage of fluctuations in exchange rates. With ALPFOREX, you can access competitive low spreads and aim for the best prices when engaging in forex trading.

2. Stock Indices: ALPFOREX provides the opportunity to trade stock market indices. Stock indices are indicators that represent various sectors of the stock market. By analyzing the prices of selected stocks, you can speculate on the performance of major stock indices worldwide. ALPFOREX allows you to open a trading account and trade stock indices both in the short term and long term.

3. Gold/Silver Bars: ALPFOREX enables trading in precious metals, particularly gold and silver. These assets are popular among traders and investors. By opening a trading account with ALPFOREX, you can trade gold and silver bars, aiming to capitalize on their price movements. This allows you to potentially generate profits from your investments, even with smaller initial capital.

Pros Cons
Access to global forex market with competitive spreads Lack of information on other available market instruments
Opportunity to trade stock market indices Limited variety of market instruments
Ability to trade precious metals like gold and silver Potential risks associated with trading volatile assets
Potential for profit generation with different assets Limited diversification options

Account Types

ALPFOREX offers different types of trading accounts to cater to varying preferences and trading styles. Here are the two main types of trading accounts available:

1. STANDARD ACCOUNT: The Standard account is designed for traders who prefer a more traditional trading approach. With this account type, you can benefit from spreads starting from 1.0 pip. The Standard account does not charge any commission per lot, making it suitable for traders who prioritize lower transaction costs. The minimum lot size for trades is 0.01, allowing for flexibility in position sizing. The leverage offered is up to 1:1000, enabling traders to amplify their trading capital. Additionally, the minimum deposit required to open a Standard account is $10, making it accessible for traders with various initial investment levels.

2. ECN ACCOUNT: The ECN account is tailored for traders who seek enhanced market liquidity and direct access to interbank pricing. With an ECN account, you can take advantage of spreads starting from 0.0 pip. However, it is important to note that there is a commission of $10 per lot traded with this account type. The minimum lot size for trades is 0.01, allowing for precision in trade execution. The leverage offered with the ECN account is up to 1:500, providing traders with the potential for increased exposure in the market. Similar to the Standard account, the minimum deposit required for an ECN account is $10, ensuring accessibility for traders with different investment sizes.

Pros Cons
Multiple account options for different needs Commission charged for ECN account
Access to different trading approaches Potential higher spreads for Standard account
Lower transaction costs for Standard account Limited leverage options for Standard account
Enhanced market liquidity with ECN account Limited leverage options for ECN account
Accessibility with low minimum deposits Potential higher spreads for ECN account

Spreads & Commissions

ALPFOREX offers competitive spreads and commissions to support traders in their trading activities. The spreads vary depending on the currency pairs and indices being traded. Let's take a closer look at the general spreads and commissions offered by ALPFOREX:

For currency pairs, ALPFOREX provides two types of spreads: ECN (Electronic Communication Network) average spreads and STD (Standard) average spreads. The ECN average spreads for major currency pairs, such as AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY, range from as low as 0.5 to 1.5 pips. On the other hand, the STD average spreads for these major currency pairs range from 1.5 to 2.5 pips. It's important to note that some exotic currency pairs, like GBPNZD and EURNZD, have slightly higher spreads, with ECN average spreads ranging from 2.5 to 3 pips and STD average spreads ranging from 4 to 4.5 pips.


When it comes to indices, ALPFOREX offers fixed spreads for trading. The spreads for indices, including ASX 200, French Cac40, Germany 40, Nikkei, FTSE 100, NASDAQ, Dow Jones, and S&P500, are set at a consistent 5.0 points.


In terms of commissions, ALPFOREX charges a commission per lot traded for ECN accounts. The commission for ECN accounts is $10 per lot. However, for Standard accounts, there are no commissions charged per lot. This allows traders to choose an account type that aligns with their trading preferences and cost considerations.

Pros Cons
No commissions for Standard accounts Some exotic currency pairs have higher spreads
Fixed spreads for indices Commission charged for ECN accounts

Deposit & Withdrawal

ALPFOREX provides options for depositing and withdrawing funds from your trading account. The minimum deposit amount is $10, allowing traders with varying investment sizes to get started. On the other hand, the minimum withdrawal amount is $50, ensuring that traders can efficiently access their funds when needed.

As for the processing time for deposits and withdrawals, ALPFOREX strives to provide timely services. Deposits are typically verified and approved within 20 minutes, allowing traders to fund their accounts quickly and start trading. Withdrawals undergo a verification process and funds are transferred to the client's account within 24 hours, ensuring prompt access to withdrawn funds.

Pros Cons
Funds transferred within 24 hours for withdrawals No mention of specific payment methods
Minimum deposit amount of $10 No mention of specific withdrawal processing time
Timely verification and approval for deposits (within 20 minutes)

Trading Platforms

ALPFOREX provides its traders with the popular and widely recognized trading platform, MetaTrader 4 (MT4). MT4 is known as the standard trading platform in the financial markets industry and offers a comprehensive set of features to enhance the trading experience.

The choice of MT4 as the trading platform by ALPFOREX is based on its ease of use and widespread popularity among Forex traders. The platform is known for its user-friendly interface, making it accessible to traders of all levels of experience. Additionally, MT4 offers a multitude of features and capabilities, including the ability to automate trading through Expert Advisors (EAs), which can assist in executing trades profitably.

To access the MT4 trading platform provided by ALPFOREX, traders can download the platform from various sources such as the App Store, Play Store, Windows, or macOS, making it accessible on multiple devices.

Overall, MetaTrader 4 is a robust and feature-rich trading platform that offers traders a comprehensive set of tools and functionalities to enhance their trading experience and make informed trading decisions.


Trading Tools

ALPFOREX provides a range of trading tools to assist traders in their decision-making process and stay informed about the market. Here are some of the key trading tools offered:

1. News Section: The news section on the ALPFOREX platform provides up-to-date information on various topics, including global economic events, political developments, and market trends. Traders can access news articles that cover important events such as debt ceiling deadlines, bilateral agreements between countries, and changes in oil prices. This helps traders stay informed about current affairs that may impact the financial markets.

2. Market Analysis: ALPFOREX offers daily news analysis, providing insights and commentary on market events. Traders can access analysis reports that cover topics such as inflation rates, interest rate decisions, and economic indicators. This analysis helps traders understand the implications of these events on different financial instruments and make more informed trading decisions.

3. Economic Calendar: The economic calendar is a tool that displays upcoming economic events, such as central bank announcements, employment reports, and GDP releases. Traders can use this calendar to stay updated on key economic indicators and plan their trading strategies accordingly.

4. Trading Signals: ALPFOREX provides trading signals to assist traders in identifying potential trading opportunities. These signals are generated by experienced analysts and highlight entry and exit points for various financial instruments. Traders can use these signals as a reference to inform their trading decisions.

5. Market Data and Charts: Traders can access real-time market data and interactive charts on the ALPFOREX platform. This allows them to monitor price movements, perform technical analysis, and identify patterns or trends in the market. The availability of historical data and a wide range of technical indicators further enhances the analysis capabilities of traders.

6. Educational Resources: ALPFOREX offers educational resources, including videos and instructional materials, to help traders enhance their knowledge and skills. These resources cover topics such as account setup, platform usage, and fund management, providing traders with the necessary tools to navigate the trading process effectively.

Overall, ALPFOREX's trading tools aim to empower traders with valuable information, analysis, and resources, enabling them to make informed trading decisions and navigate the dynamic financial markets with confidence.


Educational Resources

ALPFOREX provides educational videos to assist traders. These videos cover important topics such as signing up for trading, authentication methods, depositing to the wallet, downloading MT4, opening an MT4 account, changing passwords, logging into MT4, creating a demo account, transferring funds from MT4 to the wallet, transferring funds from the wallet to MT4, and withdrawing money to a bank account. These instructional videos aim to guide traders through essential processes and procedures, helping them navigate their trading experience effectively.


Customer Support

ALPFOREX is committed to providing excellent customer support to its traders. There are multiple channels available for traders to reach out for assistance and inquiries. These channels include Line, Facebook, and email.

Traders can connect with ALPFOREX through Line by adding the official Line account @alpforex. This allows for direct messaging and real-time communication with the customer support team. Alternatively, traders can also reach out to ALPFOREX through their Facebook page, “ALPFOREX.” The Facebook platform provides a space for traders to ask questions, seek support, and stay updated with the latest news and updates from ALPFOREX.

For more formal inquiries and detailed discussions, traders can contact ALPFOREX via email at The dedicated support email ensures that traders can address their concerns, receive assistance, and get their queries resolved by the knowledgeable customer support team.

To facilitate communication, ALPFOREX provides their address as 9th Floor, Amtel Building, 148 Des Voeux Road Central, Central, Hong Kong. This physical address serves as a point of reference and reassurance for traders.



In conclusion, ALPFOREX is an unregulated brokerage firm based in Thailand that offers trading services in the financial markets. While it provides access to various trading instruments, including Forex, stock indices, and precious metals, trading with an unregulated broker poses significant disadvantages. The absence of regulatory oversight raises concerns about the safety of client funds, transparency, and fairness of the trading environment. Additionally, the lack of regulatory protection may limit legal recourse in case of disputes. On the positive side, ALPFOREX offers different types of trading accounts, competitive spreads, and utilizes the widely recognized MetaTrader 4 platform. However, potential traders should carefully weigh the risks associated with an unregulated broker and consider alternative regulated options that provide stronger investor protection and oversight.


Q: Is ALPFOREX regulated?

A: No, ALPFOREX is not regulated by any recognized regulatory authority. It is important to note that there is no valid regulatory information available for this broker.

Q: What market instruments does ALPFOREX offer?

A: ALPFOREX offers trading in Forex (Foreign Exchange), stock indices, and gold/silver bars.

Q: What are the account types offered by ALPFOREX?

A: ALPFOREX offers Standard and ECN trading accounts.

Q: What are the minimum deposit and withdrawal amounts?

A: The minimum deposit amount is $10, and the minimum withdrawal amount is $50.

Q: How long does it take for deposits and withdrawals to be processed?

A: Deposits are typically verified and approved within 20 minutes, while withdrawals undergo a verification process and funds are transferred within 24 hours.

Q: What trading platform does ALPFOREX use?

A: ALPFOREX uses the popular MetaTrader 4 (MT4) trading platform.

Q: What trading tools are available?

A: ALPFOREX provides trading tools such as a news section, market analysis, economic calendar, trading signals, market data and charts, and educational resources.

Q: How can I contact ALPFOREX customer support?

A: You can contact ALPFOREX customer support through Line (@alpforex), Facebook (ALPFOREX), and email (

Q: Where is ALPFOREX located?

A: ALPFOREX is located at 9th Floor, Amtel Building, 148 Des Voeux Road Central, Central, Hong Kong.

User Reviews

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more than one year
ALPFOREX is a top-rated broker! Their trading platforms are fast and reliable, and the leverage options they offer are generous. It's a great choice for traders looking to maximize their profits.
2024-07-12 18:22
more than one year
I'm not a full-time trader, but ALPFOREX makes it easy for me to dip in and out of the market when I see opportunities. The platform is straightforward, and I don't feel overwhelmed by complex features. The low minimum deposit for the Ultra Low account suits my occasional trading habits perfectly.
2024-06-18 10:22
more than one year
One of the worst companies I've ever dealt with. I lost around $200,000 because of them. I have an addiction issue with trading, and I asked them to ban me from opening accounts, but they kept opening them and encouraging me. It's predatory behavior.
2024-03-10 23:26
more than one year
ALPFOREX's website is all in Thai language. After I switched to English, a considerable part of the content is still in Thai, which caused trouble for me to obtain necessary information. I think if this company really wants to better serve foreign customers, it needs to make more efforts in this regard.
2023-03-22 12:16
more than one year
Impressed with the service and excellent care of knowledge
2023-03-22 08:59
more than one year
I've tried out several brokers and the only one that impressed me was ALPFOREX. They offer ECN accounts, very low minimum deposit requirement, high leverage, and great MT4 trading platform, support for lots of trading assets, and more importantly - they're honest.
2023-03-03 14:34


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