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Al-Awal

United Kingdom|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|

https://alawalcapital.co.uk/contact-us.html

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
AlAwal-Demo MT5
Server Location Germany

Contact

support@alawalcapital.co.uk
https://alawalcapital.co.uk/contact-us.html

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Al-Awal Limited

Company Abbreviation

Al-Awal

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Al-Awal · Company Summary

Since Al-Awal's official website (https://alawalcapital.co.uk/contact-us.html) cannot be opened at the moment, we could only piece together this brokerages platform by gathering some information from other websites.

basic-info

General Information

Registered in United Kingdom, Al-Awal is an online forex broker offering diversified range of trading instruments. It seems that Al-Awal was not established long, with an operating time of only 2-5 years. With the Al-Awal platform, traders have the flexibility to choose from four trading accounts, and the minimum deposit to trade with this broker is $50.

Is Al-Awal safe to trade with

Al-Awal has let us down when it comes to enforcing rules and regulations. This broker has been confirmed to be outside of the purview of any regulatory bodies. In light of this lack of licensing, WikiFX has assigned it a regulatory status of “No License” and an overall quality rating of 1.33 out of 10.

Bear in mind that trading with an unregulated forex broker is a surefire way to lose your money. Before making any choice, investors are advised to check out a forex brokers regulatory status on WikiFX.

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Account Types

Four trading accounts are available with the AL-Awal platform, namely Beginners, Positional, Professional and Scalper. To open a Beginner account, a low initial deposit of $1 is enough, ideal for novices or beginners to trade with. The professional account asks for a minimum deposit of $500, and both Positional and Scalper account require a minimum deposit of $10,000.

account-types

Leverage

When it comes to leverage, Al-Awal permits traders to use leverage of up to 1:500, which is significantly higher than the levels regarded appropriate by many regulators.

Spreads & Commissions

Beginners, Positional and Professional accounts offer a commission-free trading environment, accompanied by average spreads, the Beginner and Positional accounts from 1 pips, the Professional account from 0.8 pips. The Scalper account offers spreads from 0.5 pips, with a commission of $10 per lot charged.

Trading Platform

When it comes to trading platform, Al-Awal offers the industry-leading MT5 trading platform. Some features and functionalities of this trading platform include user-friendly interface, high customization, powerful charting tools, as well as EA supported.

Customer Support

Traders can reach out to Al-Awal about any questions or concerns they may have about their accounts or their trading through the following methods:

Telephone: +90 850 668 03 17

Email: +90 850 668 03 17

Registered Company Address: 8/6 Mediteranska Budva 85310 Mediteranska, Budva.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

The information presented in this article is intended solely for reference purposes.

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FX1205615015
more than one year
This Al-Awal boasts that it provides MT4 trading platform, but in fact, its mt4 is very unstable, no EA supported, only some basic charts. I had an awful trading experience on this platform. Now, it has been shut down, thanks god👏
2023-02-15 09:19
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