Updated October 23, 2026

How does Alfa Forex stand out?

Multiple assets: 34 forex pairs, more than any other Russian broker puts on the board.

Education: there are learning materials aimed squarely at newcomers.

Platforms: MetaTrader 5 on desktop plus a mobile app, so the toolset is current rather than legacy.

Account opening: the account opens instantly through the Alfa bank app.

What is Alfa Forex?

This Alfa Forex review starts with the basics. Alfa-Forex is a Russian broker, and more than 95 percent of its clients sit inside the Russian Federation. Its strongest side is market analytics, which runs deeper than you would expect from a broker of this size.

Alfa-Forex was established in 2011. Over the decade that followed it picked up its regulation and grew the business steadily.

Reviews have been mixed from the start, and some clients are plainly unhappy. One thing I can confirm from my own use: the website is not user-friendly.

Navigation is awkward and finding a specific document took longer than it should have. The product line is narrow too. Alfa-Forex offers currency pairs and nothing beyond them, so there are no stocks and no crypto here.

Alfa-Forex homepage

The site is in Russian only.

Google Translate handles it in a second and nothing in the interface breaks afterwards. That is a workaround, not a fix.

The firm has collected a few industry awards over the years:

• The Broker of the Year 2013

• The Best CFD Broker 2014

• and the Best Forex Bank Broker 2015

What are Alfa Forex regulations?

There is exactly one: CBR, the Central Bank of Russia. No European, British or offshore licence sits alongside it, and that single fact narrows who this broker realistically serves.

Alfa Forex at a glance

Founded: 2011, headquartered in Moscow, operating as Alfa-Forex LLC

Regulation: CBR only, no second licence

Minimum deposit: $200 on the broker card, no figure stated in the review text, confirm it on the broker site

Instruments: 34 forex pairs, no stocks and no crypto

Platforms: MetaTrader 5 plus a mobile app for Android and iOS

Account types: hedging and netting, demo account available

Leverage: 1:50 on all account types

Deposit methods: credit and debit cards, bank transfer, Alfa click, UnionPay, Webmoney

Deposit fee: none, processing from a few minutes to two days

Withdrawals: same methods, about one day

Bonus: 50 percent on opening a live account, no promo codes

Tax: the broker acts as a tax agent for the client

PAMM accounts: not available

Eligibility: Russian Federation citizens who are not individual entrepreneurs, with passport, TIN and SNILS

Spreads and commissions: not stated in our sources, confirm on the broker site

How does Alfa Forex work?

Alfa-Forex offers 34 forex pairs, the highest count of any Russian broker. In practice that is more than enough. Most traders work three or four pairs seriously and treat the rest as background, so depth of the list matters less than the spread on the pair you actually trade. What the number does buy you is the exotics: if you want a cross that sits outside the majors, it is more likely to be here than at a competitor.

Here are some of them:

• Forex EUR/USD, GBP/USD

AUD/USD, USD/JPY

USD/CHF etc.

How does the Alfa Forex platform work?

Alfa-Forex offers the following platforms:

• MT5

• Mobile platform

MT5

MetaTrader 5 succeeds MT4 and carries a heavier feature set. If you have traded anywhere before, you already know the terminal, and that shortens the setup to about ten minutes.

Some of the features of MT5 include

• Greater number of timeframes

• Greater number of in-built technical indicators

• Multi-threaded strategy tester

• Impressive analytic tools

MT5 on Alfa-Forex

Mobile trading platforms

Both platforms are available on mobile. The broker app runs on Android and on Apple devices.

I have used it and it is convenient. Download it free from Google Play or the App Store and the markets open straight away.

Feature parity with the web version is complete, so nothing is lost on a phone.

What trading indicators are available?

Technical trading needs indicators, and MT5 on Alfa-Forex has plenty of them. The list includes:

• MACD

• Moving Averages

Relative Strength Index

Bollinger Bands

Relative Volatility Index and so many more.

What are Alfa Forex trading accounts?

There are two account types.

• With hedging: each position exists independently, and you may open several trades on the same asset. This is the option most manual traders want, because it lets you hold opposite positions on one pair at the same time.

• With netting (without hedging): positions are accounted for as in MT5, and trades on a single instrument merge into one. Opening several positions on the same instrument becomes difficult. Pick this only if you run one directional idea per pair and want the balance to read cleanly.

Does Alfa Forex offer a demo account?

Yes. Use it properly before funding anything, because testing an approach on this instrument list costs nothing.

Alfa-Forex Demo account

How safe is Alfa Forex?

Regulation comes from the Russian Central Bank, as covered above. Client data is protected by SSL encryption on both web and mobile builds. On that basis the broker looks reasonably safe. The caveat is jurisdictional: one national licence leaves a non-resident client with very little recourse if something goes wrong.

Where is Alfa Forex located?

Headquarters are in Moscow, Masha Poryvaeva St., 7.

Who owns Alfa Forex?

The broker operates under Alfa-Forex LLC.

How to open an account at Alfa Forex

The sequence is short, and most of the friction sits in the paperwork rather than the platform.

Check eligibility first. The broker accepts Russian Federation citizens who are not registered as individual entrepreneurs. If that does not describe you, the rest of the steps do not apply.

Prepare the documents: a Russian passport, TIN and SNILS data. All three are required, and missing one stalls the application.

Open the account through the Alfa bank app for the instant route, or through the website if you prefer the browser.

Choose the account type. Hedging suits most manual traders, netting suits a single directional idea per instrument.

Start on the demo. It costs nothing and the instrument list is narrow enough to test an approach properly in a week.

Fund the live account when you are ready. Cards, bank transfer, Alfa click, UnionPay and Webmoney are all accepted, and none of them carries a deposit fee.

How to deposit funds in the Alfa Forex account

The deposit methods available at Alfa-Forex are

• Credit/Debit Cards

• Bank transfer

• Alfa click

• UnionPay

• Webmoney

Deposits carry no fees. Processing runs from a couple of minutes to two days depending on the method you pick. Cards and Alfa click are the fast routes. A bank transfer is the one that takes days, so plan the first funding around that rather than around a market you want to catch.

How to withdraw funds from the Alfa Forex account

Withdrawal methods match the deposit methods, and processing takes longer, roughly a day. One flag worth raising: a trader I know could not get his funds out at all. Treat the stated timing as a best case and test the route with a small amount before you move anything serious.

How to contact Alfa Forex

I used the online chat and got a fast reply, which was not what I expected. Other channels are open too.

You can:

• Call

• Online chat

• Email

• Contact their social media

The phone numbers that you can call are:

• +7 (499) 215-79-79, Mon. to Fri. 7:00 to 23:00 MSC

• 8 (800) 100-62-02

• +7 (495) 215-55-46, Mon. to Fri. 7:00 to 23:00 MSC

Does Alfa Forex offer promo codes?

No. Alfa-Forex does not run promo codes at all.

Does Alfa Forex offer bonuses?

There is one: a 50 percent bonus when you open a live account. Beyond that the broker keeps promotions to a minimum.

Does Alfa Forex charge tax on profits?

Alfa-Forex acts as a tax agent. It calculates and pays the tax on the client's behalf, and the details sit on the broker's own page.

My own experience with Alfa Forex

Alfa-Forex has been around since 2011. I first heard about it from a Russian contact who was already trading there, so I asked him for a first-hand account.

His main complaint was a withdrawal he could not complete. On everything else he rated the broker as workable.

Pros and cons

Pros:

• 34 currency pairs, the widest forex list among Russian brokers

• MetaTrader 5 with full mobile parity, not a cut-down proprietary terminal

• deposits are free and can clear in minutes

the broker handles tax calculation and payment for the client

account opens through the Alfa bank app, with a demo available first

Cons:

• one regulator and one jurisdiction, which leaves non-residents exposed

• forex only, so no stocks, no indices, no crypto

• the site is Russian-only and hard to navigate

• leverage capped at 1:50 and no PAMM accounts

• at least one first-hand report of a withdrawal that never completed

Who Alfa Forex is for

This is a broker for a Russian resident who trades currency pairs and wants a familiar terminal without offshore paperwork. The CBR licence, the tax agent status and account opening through the Alfa bank app all point the same way. If that describes you, the fit is good.

If you are outside the Russian Federation, the eligibility rules alone close the door: the broker asks for a Russian passport, TIN and SNILS. Anyone who wants stocks, indices or crypto in the same account should look elsewhere too, and so should traders who need leverage above 1:50.

FAQs

Who can become a client of Alfa-Forex?

Any person who is not an individual entrepreneur and is a Russian Federation citizen can become an Alfa-Forex client.

What documents are needed to open an account with Alfa-Forex?

A Russian passport, TIN, and SNILS data are required to create an account with Alfa-Forex.

What is the leverage of Alfa-Forex?

Alfa-Forex offers leverage of 1:50 on all account types.

Does Alfa-Forex have PAMM accounts?

No, it does not. Due to regulatory constraints, Alfa-Forex clients cannot create or invest in PAMM accounts.

What is the minimum deposit at Alfa-Forex?

The broker card on this site lists $200. The review text and the broker's public pages we checked do not confirm a figure, so verify the current minimum on the Alfa-Forex site before you fund an account.

How long does a withdrawal take at Alfa-Forex?

About one day, using the same methods as deposits. That is the stated timing rather than a guaranteed one: at least one trader we spoke to could not complete a withdrawal at all, so send a small test amount first.

Final thoughts

Alfa-Forex fits one specific reader: a Russian resident who wants currency pairs on MT5 and nothing else. The platform side is strong, the product range is thin, and a single national licence rules out most people outside the country. I would put it at 3 out of 5.

If you want alternatives, compare brokers on spread, licensing and withdrawal terms before you commit anything. Our broker reviews are grouped by country, so the shortlist for your region takes a couple of minutes. Reviewed and updated: August 2026.