Altex Trade

About Altex Trade Brokerage Company

Altex Trade offers brokerage services to a wide range of clients, with a particular focus on assisting new traders in their journey. The company is officially registered as Altex ALX Trade LTD. and is located at 2 The Priory Queensway, Birmingham B4 7LJ.

While the broker claims to provide licensed trading services, there is a lack of evidence of a license for brokerage activities or a company registration certificate in the “Documentation” section.

Altex Trade’s website is managed by a legal entity that has operated under multiple parallel mirrors throughout 2022, including:

• altexglobal.uk,
• my-altexglobal.uk,
• altex-trade.com,
• altex.uk,
• altex-acc.com.

Trading Environment and Platform at Altex Trade

Altex Trade positions itself as a distinctive European brokerage firm that offers cryptocurrency processing services. Clients can expect low spreads, a selection of 240 trading instruments, and the flexibility to choose leverage ranging from 1:10 to 1:500. The minimum size of futures contracts is set at $1.

For those interested in trading cryptocurrencies such as BTC, ETH, BCH, LTC, XRP, Altex Trade provides leverage of up to 1:5 and exchange spreads.

Trading activities can be conducted through the popular MetaTrader 5 trading terminal and its mobile versions. A complimentary demo mode is available for educational purposes.

Altex Trade Account Types

Altex Trade offers four primary account types to cater to varying client needs:

• Live Account: No minimum deposit requirement, comes with a 30% welcome bonus, and offers leverage up to 1:100.
• ECN Account: Requires a minimum deposit of $10,000, provides 1:100 leverage, and includes a 50% welcome bonus.
• VIP Account: Accessible with investments starting from $20,000, delivers leverage up to 1:500, and offers bonuses up to 70%.
• Premium Account: The most exclusive account option requiring a minimum deposit of $50,000, provides leverage up to 1:500, and presents bonuses up to 100%.

Account Funding and Withdrawal Process

Detailed information regarding account funding and withdrawal procedures can be found within the Altex Trade personal account. Recommended transaction channels include bank cards, payment systems, electronic wallets, and cryptocurrency wallets.

Withdrawal fees range from 1% to 2.5% of the requested amount. However, specific guidelines on withdrawal regulations are not provided, leading to uncertainty regarding the processing time of withdrawal requests.

Final Thoughts

Altex Trade raises concerns due to its registration in the UK, use of USD as the base account currency, absence of a brokerage license, and insufficient clarity on withdrawal regulations. It is advisable to approach dealings with this organization with caution.

This review has been prepared by the specialists at ExpertsReview.