AlumFX.com Review
4 •
3 REVIEWS
Out of business
Updated: Apr 13, 2022
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Alum FX is a forex broker. Alum FX offers the MT 4 and MetaTrader Mobile fx trading top platforms. AlumFX.com offers over 10 currency pairs for your personal investment and trading options.
Website is down. Company seems to be out of business.
Out of business
4 •
3 REVIEWS
Recent User Reviews of AlumFX.com
A
Alexey
St.Peterburg, Russian Federation,
Dec 17, 2014,
Guest
Had experience with other brokers, everyone has left disappointed.. started with this one, what can I say: fast execution, good spreads, friendly support. I hope it will continue this way. A+
S
Song Rui
Beijing, China,
Sep 30, 2014,
Guest
I used this broker some month, I find this is a friendly broker.
His MT4 server very fast with ping 0~3 ms in china.
But it's site opened in china not very fast, maybe the problem comes from the googleapis.
Import alumFX work on FCA, it's safe.
His MT4 server very fast with ping 0~3 ms in china.
But it's site opened in china not very fast, maybe the problem comes from the googleapis.
Import alumFX work on FCA, it's safe.
E
Ed Smith
Riga, Latvia,
Aug 7, 2014,
Guest
I’ve opened an account with AlumFX using their "Summer Offer" at the end of July.
Here is what I liked about them:
1) These are the best spreads I've ever seen. EURUSD was 0.3-0.6 pips during the day and up to 0.8 at the nighttime. There was significant increase during news releases (up to 2-3 pips), but I avoid to trade news so it doesn’t affect me. When the promo ends, total costs (spread + commission) should be around 1 pip or less - my EA is happy.
2) Market execution is fair enough - most of the orders opened in 200-400ms window with the price I wanted and some of them (about 10%) were opened at a little different price, but as the price could be worse, it could be better as well. The balance was probably about 50/50. In comparison, my previous broker used negative slippage practically at every order I opened.
I prefer to work with regulated brokers and based on my experience I shouldn’t worry about withdrawals with this one, even though I didn’t make any yet.
Here are some issues:
1) Registration process can take up to 1-2 days with AlumFX. They are very scrupulous about opening an account and they require high quality scan of ID and proof of residence. I tried to send my recent phone bill, but it was rejected and I got clarification that they accept only utility bills or bank statements.
2) Deposit methods include only wire and credit card options, no e-wallets (not even PayPal).
3) Minimal initial deposit is 1,000 USD... It is somewhat substantial deposit. That may not be for everybody.
4) I didn’t find any useful information (economic event calendar, for example) on their website.
I’ve spent whole evening on filling in the application and scanning the docs, but attractive pricing made me forgiving about their meticulousness. I would recommend this company for scalpers and other HFT traders.
Here is what I liked about them:
1) These are the best spreads I've ever seen. EURUSD was 0.3-0.6 pips during the day and up to 0.8 at the nighttime. There was significant increase during news releases (up to 2-3 pips), but I avoid to trade news so it doesn’t affect me. When the promo ends, total costs (spread + commission) should be around 1 pip or less - my EA is happy.
2) Market execution is fair enough - most of the orders opened in 200-400ms window with the price I wanted and some of them (about 10%) were opened at a little different price, but as the price could be worse, it could be better as well. The balance was probably about 50/50. In comparison, my previous broker used negative slippage practically at every order I opened.
I prefer to work with regulated brokers and based on my experience I shouldn’t worry about withdrawals with this one, even though I didn’t make any yet.
Here are some issues:
1) Registration process can take up to 1-2 days with AlumFX. They are very scrupulous about opening an account and they require high quality scan of ID and proof of residence. I tried to send my recent phone bill, but it was rejected and I got clarification that they accept only utility bills or bank statements.
2) Deposit methods include only wire and credit card options, no e-wallets (not even PayPal).
3) Minimal initial deposit is 1,000 USD... It is somewhat substantial deposit. That may not be for everybody.
4) I didn’t find any useful information (economic event calendar, for example) on their website.
I’ve spent whole evening on filling in the application and scanning the docs, but attractive pricing made me forgiving about their meticulousness. I would recommend this company for scalpers and other HFT traders.