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Alvexo Minimum Deposit, Account Funding Methods & Withdrawal Fees

 

Finding a reputable list about Alvexo minimum deposit local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Minimum Deposit Review regarding this regulated Forex company, which will assist traders to make an informed decision, when it comes to funding your trading account.

Overall Rating

4.6/5

Rated #218 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

ASIC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Minimum Deposit

Alvexo has a minimum deposit requirement of $ 500 on its Classic Account. On the Gold and ECN Accounts it requires $ 2 500 and $ 10 000 for a Prime Account.

This minimum deposit amount is equivalent to ZAR 7607,05 at the current exchange rate between the US Dollar and the South African Rand at the time of writing.

Alvexo is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is an EU-registered regulatory body ensuring that those brokers which fall under its compliance adhere to the regulations which pertain to the EU jurisdiction.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

 

Deposit fees and deposit methods

When compared with other brokers, the minimum deposit that ActivTrades requires when registering a live account is relatively high.

Alvexo offers traders the following payment methods which can be used when making deposits:

  • Credit cards
  • Debit cards
  • QIWI Wallet
  • Bank Wire transfer

Deposit currencies which are accepted include:

  • EUR
  • USD

However, clients do have the option to change their base currency once an account has been opened.

When using a credit card, only funds up to the amount originally deposited through that card can be refunded to it. The balance will be transferred to the client’s bank account.

Traders must ensure that they verify whether their financial institution waives its own fees as there may be additional fees payable. These often depend on the payment method used as well as the amount which is deposited into the trading account.

Step by step guide to deposit the minimum amount

When funding the trading account, traders can do it from their own bank account by sending the funds to one of the Alvexo segregated client accounts.

Traders can also access the option to deposit the minimum amount from their personal area after having registered a live trading account which has, subsequently, been approved.

Traders must log into their personal area, select the option for deposits, and follow the instructions to make a deposit into their trading account. Traders must ensure that they select the correct deposit currency before they make a deposit.

Funds must be transferred in the same currency as the bank account which they are sending it to. Should this not be done, traders may be subjected to currency conversion fees.

 

Pros and Cons

PROS CONS
Reliable payment methods offered Account base currencies are limited
Limited payment methods offered
Currency conversion fees may apply
High minimum deposit required

 

FAQ

What is the minimum deposit for Alvexo?

$ 500.

How do I make a deposit and withdrawal with Alvexo?

  • Credit cards
  • Debit cards
  • QIWI Wallet
  • Bank Wire Transfer

Does Alvexo charge withdrawal fees?

No. Fees from financial institutions may apply.

How long does it take to make a withdrawal?

Withdrawals take a minimum of 3-5 business days upon completion of compliance requirements. For wire transfers, please allow for extra time, which is subject to the conditions governing banking services in your particular local area.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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