Alchemy Markets Review
Forex trading is competitive but the right forex broker can help make it easy and comfortable. Alchemy Markets is an online Forex and CFD broker that provides clients with competitive trading conditions, combined with Institutional Spreads and No Commissions for trading forex and a broad range of markets.
This broker has various account types to choose from as well as hundreds of financial products including Forex, Indices, Commodities, Stock CFDs, ETF CFDs, and Crypto CFDs, with a variety of useful features.
Read on to learn more about how Alchemy Markets may work to your advantage.
Minimum Deposit
The minimum deposit with this online forex and CFD broker depends on the type of account, Classic, Premier, or VIP trading account. The amounts range from $1,000 to $50,000. You can deposit via Bank Wire, Credit Cards, Skrill, Neteller, Cryptocurrency, and UnionPay.
Crypto Trading
Cryptocurrency trading is an attractive area of investment with a lot of potential due to the high levels of volatility with these currencies. For all traders who would like to tap into this fast-growing market while taking advantage of competitive conditions, Alchemy Markets has a great offer with more than 60 unique Crypto CFDs. The leverage for trading Cryptocurrency is 10:1, 100% STP execution, and commissions as low as 0.35% Round Turn. Cryptocurrency traders can use the MT4 platform for cryptocurrency trading after opening an account with this online broker.
Spreads
Looking at their competition, Alchemy Markets offers traders a very minimal and competitive spread. The Classic Account comes with a spread that starts at 0.7 pips which goes down to 0.5 and 0.1 pips for the more advanced plans – Premier and VIP. However, traders should note that the spreads may vary, they can grow in volatile situations even for major forex trading pairs.
Bonuses & Promotions
There is no specific forex bonus, but the online forex broker has several Free Institutional Tools and Analyses, such as CopyTrading, Trading Central, FX Blue, and VPS.
Leverage
The leverage differs depending on the account type and deposit and can be up to 500:1*. Using a lot of leverage is risky, especially during volatile market conditions. In general, the broker will approve changes in leverage only after checking the applicant’s deposit funds and trading experience.
Trading Platforms
You can choose between MetaTrader4, MetaTrader 5, or Fix API.
-MT4 or MetaTrader4 is a leading trading platform that offers excellent customization options, news alerts, technical indicators, charting tools, and more. Users can also create their automated algorithm which is set up to buy and sell forex trading pairs when they meet certain conditions. This option makes this platform the perfect choice for foreign currency trading. With the MT4 users also get notifications and alerts on their phone or email. The online trading platform can be used on desktop and mobile devices with Android or iOS operating systems.
-MT5 or MetaTrader5 is the newest multi-asset Trading platform. Enjoy multi-asset trading with superior tools with MetaTrader5.
-Fix API 4.4 is the best choice for high-frequency traders that will enjoy high-speed connectivity and ultra-low latency.
Account Types
With this broker, clients have several different account options to choose from – Classic, Premier, and VIP. Each account type has a minimum deposit requirement with the VIP account having the largest amount. The spreads of all accounts however are very competitive. The commissions start from 0% to $4 per round turn. None of the accounts comes with a forex bonus.
Let’s look at the specifics per each account type.
Classic
Spread: From 0.7 pips
Min Deposit: $1,000
Premier
Spread: from 0.5 pips
Min Deposit: $5,000
VIP
Spread: from 0.2 pips
Min Deposit: $50,000
Account opening with Alchemy Markets is quite easy and it takes no more than 30 seconds to complete the registration on the trading website. Also, clients can choose among 3 default currencies for their forex trading accounts in Euro, British Pound, or the US Dollar.
This forex broker also offers a demo forex account with access to all trading tools. Everyone who is new to the trading platform and wants to get comfortable with it before risking their money can do that by using the demo account. The same is true if beginners want to learn how to participate in the online forex trade or practice with new assets like cryptocurrencies. Using the demo account is a great opportunity to test different strategies and choose a trading approach. Opening a demo account definitely involves less risk when learning about the markets and also gives some space for practicing before trading with real money.
Company Regulations
The Alchemy Group is made up of the Companies below which are registered in different parts of the world and are licensed to operate independently of each other.
Alchemy Prime Limited, Unit 8, 74 Back Church Lane, London E1 1LX, is the payment agent for Alchemy Global Limited. Authorized and regulated in the UK by the Financial Conduct Authority, FRN 61223,. Registered in England and Wales with Companies House, reference 08698974.
Prime Intermarket Group Asia Pacific LTD (FXPIG) is authorized in Vanuatu by the Financial Services Commission, reference 014578.
Alchemy Markets DMCC is registered in the United Arab Emirates, registration number DMCC95681.
The FCA regulation contributes to the broker’s high credibility and helps build trust. All brokers licensed and regulated by the FCA hold net assets of at least 730 000 EUR and are obliged to use segregated accounts to keep clients’ money also to regularly report transactions and adhere to various procedures and standards. Moreover, FCA-regulated companies fall under the FSCS which is a scheme that protects clients up to 80 000 British Pounds. Also, brokers based in the UK are required to have the Negative Balance Protection option. This means that if an account goes negative as a result of trading activity it will be credited to a zero balance.
Customer Service
The customer support team can be reached through email, chat, or phone. The support team is very friendly and helpful.
Education
Alchemy Markets’ selection of trading tools is impressive. They offer traditional features like the economic calendar with daily updates of international events that impact the market prices. The events are also labeled which is very handy. There is also a forex trading calculator and a VPS for running your own automated trading algorithms.
The MT4 online trading platform allows holders to place immediate orders and trade with one click only.
Benefits of the Alchemy Markets Introducing Broker Program?
- Real-Time IB Portal and Payouts
- Flexible Rebates and Markups
- Up to 3 tiers of sub-IBs
- MT4 or MT5
- Promotional Materials
- Free Performance Website (money/fund managers)
- 24/5 Support and Dedicated Account Manager
Sign Up
- Sign up for an Alchemy Markets Introducing Broker Account in minutes with our online application
Become a Fund Manager of Alchemy Markets
