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/10

AlainFx

Comoros Comoros | 5-10 years |
Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

http://alainfx.com/

Website

Rating Index

Contact

+971 528002611
http://alainfx.com/
HAMCHAKO, MUTSAMUDU, THE AUTONOMOUS ISLAND OF ANJOUAN, ANJOUAN, UNION OF COMOROS

license Forex License

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
2

Basic Information

Registered Region
Comoros
Operating Period
5-10 years
Company Name
Alains Market Solutions Limited
Email
support@alainfx.com
Contact Number
+971528002611
Company Website
Account Info
Verified Site
About Us
Wiki Q&A
Comment

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Official Website

Verified Site

  • alainfx.com
    132.148.85.99
    Server Location
    United States United States
    ICP Registration No.
    --
    Top Visitor Locations
    --
    Creation Date
    2015-05-07
    Website Name
    WHOIS.GODADDY.COM
    Company
    GODADDY.COM, LLC

Company Profile

Company Profile

Review summary

Alain Fx Review Summary
Founded2015
Registered Country/RegionUnited Arab Emirates
RegulationUnregulated
Market InstrumentsForex pairs, indices, shares, options, commodities and CFDs
Demo Account
Leverage1:1-1:400
SpreadFrom 2.5 pips (Basic account)
Trading PlatformMetaTrader 5
Min Deposit$100
Customer SupportTel: +971 528002611
Email: support@alainfx.com
Twitter: https://twitter.com/Alain_fx
Facebook: https://www.facebook.com/alainforex
Physical Address: Unit 1207, 1 Lake Plaza, Plot NO PH2-T2, Jumeirah Lake Towers, Dubai
Regional RestrictionsUSA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People's Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Quebec, Iraq, Syria and Cuba

Alain FX is a British broker founded in 2015, offering forex pairs, indices, shares and options commodities and CFDs on the popular MetaTrader 5 platform.The company provides three types of accounts, with a minimum deposit set at $100 and leverage up to 1:400.

However, Alain FX has not obtained authorization from any financial regulatory authorities.

In addition, Alain FX does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People's Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Quebec, Iraq, Syria and Cuba.

homepage

Pros and Cons

Pros Cons
Multiple trading choicesLack of regulation
Versatile trading accountsHigh spreads
Demo accountsRegional restrictions
Flexible leverage ratios
Commission-free
MT5 support
Multiple payment options
No fees for deposits and withdrawals

Is AlainFx Legit?

The company behind AlainFx, Alains Market Solutions Ltd., has not obtained authorization from the Financial Conduct Authority (FCA) of the United Kingdom or any other regulatory body, lacking legitimate oversight.

What Can I Trade on AlainFx?

AlainFx offers forex pairs, shares and options, commodities and contracts for difference (CFDs) on indices and precious metals. However, it is not advisable to trade any instruments through such an unregulated broker.

Forex pairs: USD / JPY, USD/CHF, USD / CAD, USD/ILS, USD/PLN, USD/CZK, USD/HKD, USD/SGD, USD/MXN and USD/SEK...

Shares and options: US Dollar / Japanese Yen, Australian Dollar / US Dollar, US Dollar / Swiss Franc, US Dollar / Canadian Dollar, WTI Crude Oil/US Dollar...

Commodities: WTI Crude Oil, Gasoil, Brent Crude, Heating Oil, Natural Gas, Wheat, Corn, Cotton...

Indices: US 500 (SPI), US 30 (DOW), US Tech (NDQ), UK 100 (FTS), Germany 30 (DAX), EU Stocks 50 (ESX)...

Tradable Instruments Supported
Forex
CFDs
Commodities
Indices
Shares
Options
Cryptocurrencies
Bonds
ETFs
What Can I Trade on AlainFx?

Account Type

Apart from demo accounts, AlainFx also offers three types of live trading accounts: Basic Account, Economic Account, and Classic Account. The minimum deposit requirements for these accounts are $100, $500, and $10,000, respectively.

Account TypeMin Deposit
Basic$100
Economic$500
Classic$10,000
Account Type

Leverage

The maximum leverage for the Basic Account is set at 1:400, while for the Economic Account, it is relatively lower at 1:200, and for the Classic Account, it is 1:100.

Account TypeLeverage
Basic1:1-1:400
Economic1:1-1:200
Classic1:1-1:100

However, it is common knowledge that high leverage entails high risk, especially when trading with a broker lacking regulation.

Spread and Commission

Currency pairs spreads listed on the AlainFX seem a little bit wide, the spread on EUR/USD pair around 1.8 pips, EUR/GBP pair around 3 pips, all higher than sector standard.

Spreads also vary depending on various trading accounts, as follows:

Account TypeSpreadCommission
BasicFrom 2.5 pips
EconomicFrom 1.7 pips
ClassicFrom 0.9 pips

All account types are commission-free.

Trading Platform

AlainFx claims to provide the world-leading trading platform MT5, with desktop and mobile versions available. However, we still recommend choosing a regulated broker with legal trading permission from professional platforms like MT4/5 or cTrader.

Trading PlatformSupported Available Devices Suitable for
MT4/Beginners
MT5Desktop, mobileExperienced traders
Trading Platform

Deposit and withdrawal

AlainFx supports the following deposit/withdrawal methods: credit/debit card, wire transfer, Skrill, Neteller, and WebMoney.

It does not charge any commission for deposits & withdrawal, and it takes 3 to 7 days to withdraw funds.

Deposit and withdrawal

Company Profile

  • 5-10 years
  • Questionable Regulatory License
  • Suspicious Operational Region
  • High Potential Risk

Wiki Q&A

Is AlainFx a legitimate trading platform?

AlainFx, operating as Alains Market Solutions Limited, is an unregulated entity registered in Comoros. It holds no valid licenses from major financial authorities, placing it outside the framework of credible regulatory oversight. This status constitutes a severe risk profile for traders.

04-02
United States

What licenses does AlainFx hold?

AlainFx does not hold any verified forex trading licenses from recognized regulatory bodies. The broker operates without credible oversight, a fundamental consideration for investors.

04-02
United States

Where is AlainFx registered?

AlainFx is registered as Alains Market Solutions Limited in Comoros.

04-02
United States

How is the WikiFX Score calculated?

WikiFX ratings are calculated based on a multi-dimensional data model, mainly including five dimensions: regulatory index, license index, business index, risk control index, and software index. The rating adopts a range system (0-10 points). The higher the score, the higher the broker's overall performance level. In addition, ratings are dynamically updated according to regulatory changes, complaint handling results, and historical data performance, making the rating more objective and timely. You can check the scores of each dimension and their trends on the WikiFX platform to evaluate the broker's actual situation more comprehensively.

04-02
United States

Can I recover my funds if I have been scammed by a broker?

Recovering funds after investment fraud can be difficult, but taking timely action may still help recover part of the losses. It is recommended to take the following actions immediately: keep trading records, chat records, and other evidence; contact the bank to try to stop or freeze the payment; report the case to local law enforcement agencies. In addition, investors can also use WikiFX complaint and exposure channels to increase the visibility of problematic platforms and improve the efficiency of rights protection.

04-02
United States

How can I determine if a forex broker is regulated?

To determine whether a broker is regulated, the key is to verify whether it holds a valid financial license. Investors can check the license number and status through the official websites of regulatory authorities (such as Financial Conduct Authority, Australian Securities and Investments Commission) to confirm whether the license is real and under valid supervision. It should be noted that some brokers may engage in license cloning or unauthorized operations, meaning they use another company's license or provide services in regions where they are not authorized. These situations also involve risks. In addition, investors can use WikiFX to check the broker's regulatory status, historical records, and risk ratings as supporting reference, so as to evaluate its compliance more comprehensively.

04-02
United States

What is WikiFX, and how does it help investors?

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

04-02
United States

How can I identify a scam or fraudulent forex broker?

A broker can be evaluated as a potential scam platform by considering multiple factors such as regulatory qualifications, user complaints, fund security, and platform data. In general, brokers without valid regulation, those that frequently have withdrawal problems, those with a large number of user complaints, or those providing false information usually carry higher risks. You can check the broker's regulatory status, overall rating, exposure records, and user reviews on the WikiFX platform, and make judgments based on multi-dimensional data to effectively identify and avoid scam platform risks.

04-02
United States
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