About the brokerage company Altex Trade
Altex Trade provides brokerage services for all interested parties. Special attention is given to supporting novice traders. The company is registered under the trade name Altex ALX Trade LTD. with the address 2 The Priory Queensway, Birmingham B4 7LJ.
The broker promises licensed trading, however, there is no license for brokerage activities and a certificate of company registration in the “Documentation” section.
The company’s website is managed by a legal entity, which at different times in 2022 had up to five parallel mirrors:
- altexglobal.uk,
- my-altexglobal.uk,
- altex-trade.com,
- altex.uk,
- altex-acc.com.
Trading conditions and platform of Altex Trade
Altex Trade positions itself as a unique European broker with its own cryptocurrency processing. Clients are promised low spreads, a choice of 240 trading instruments, and the ability to choose leverage from 1:10 to 1:500. The size of futures contracts starts from $1.
For trading with cryptocurrencies BTC, ETH, BCH, LTC, XRP, Altex Trade provides leverage up to 1:5 and exchange spreads.
Trading can be done through the MetaTrader 5 trading terminal and its mobile versions. A free demo mode is available for learning.
Altex Trade trading accounts
The company offers four types of accounts:
- Live Account: no deposit entry threshold, with a 30% welcome bonus and leverage up to 1:100.
- ECN Account: starting from deposits of $10,000, with 1:100 leverage and a 50% welcome bonus.
- VIP Account: available with investments from $20,000, with leverage up to 1:500 and bonuses up to 70%.
- Premium: the most expensive account with deposits starting from $50,000, leverage up to 1:500, and maximum bonuses up to 100%.
Account funding and withdrawal
Information on account funding and withdrawal is available through the Altex Trade personal account. Recommended transaction channels include bank cards, payment systems, electronic, and cryptocurrency wallets.
The withdrawal fee ranges from 1% to 2.5% of the requested amount. Detailed withdrawal regulations are not provided, implying uncertainty in the processing time of the request.
Conclusion
The company Altex Trade raises doubts with its British registration, the use of USD as the base account currency, the lack of a brokerage license, and incomplete information on withdrawal rules. It is recommended to exercise caution when dealing with this organization.