Most forex traders favor ALB thanks to its zero commission charges, low minimum deposit, impressive 100:1 leverage, tight spread on major currency pairs and fast trade execution. However, traders of other financial instruments, including commodities, indices, crypto, contracts for difference (CFDs) and stocks, can also benefit from the platform’s excellent trading conditions and robust trading tools. The company prides itself on its cutting-edge technology, superior customer support and flexible trading conditions.
ALB’s mission is to empower traders with the knowledge and tools they need to make informed trading decisions and succeed in the financial markets. With its advanced trading platform, competitive pricing and low minimum deposit, the company is solving the problem of limited access to quality trading resources and providing traders with the tools they need to take control of their financial future. Whether you’re a novice or an experienced trader, ALB has everything you need to succeed in today’s fast-paced and dynamic financial markets.
Benzinga spotlights ALB, explaining how the online trading platform can help you turbocharge your forex investing and excel as a trader.
- No fees
- Risk-free demo account to try out new strategies
- No commission on forex and metals
- Competitive fixed commission for other financial instruments
- Impressive leverage of up to 100:1 for forex and up to 50:1 for other financial instruments
- Cutting-edge trade execution platform (MetaTrader 5), which offers advanced trading features
- Multiple account packages with varying features to suit different traders' need
- Excellent customer support
- Unavailable for U.S., Canadian, Japanese, Turkish and Israeli traders
- Lack of regulation in some jurisdictions
- Limited educational resources compared to other platforms
- Limited tradable instruments — the platform focuses mainly on forex trading and while you can trade a few other asset classes, the selection is limited compared to other platforms
ALB.com Ratings at a Glance
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- ALB Limited Product Offering
- Customer Service Rating
- Security
- See All 8 Items
ALB streamlines access to the financial market for thousands of traders via its three account packages — the Mini, Gold and VIP accounts. Each of these packages is similar regarding core benefits and features. These include
- Access to 43 forex pairs, 18 commodities, 16 indices, 5 cryptocurrencies and 100+ stocks
- Zero commission charges for forex and metals with a leverage of up to 100:1
- $0.5 commission for commodities, indices and stocks, with leverage of 50:1 for commodities and indices, 25:1 for stock baskets and 5:1 for crypto across all account packages
- Minimum and maximum volume in lots per trade of 0.01 and 10, respectively
- 30% stop-out level and 50% margin call
Here's how each account compares.
Mini Account
ALB's mini trading account is designed for traders new to the forex market or wanting to trade with a smaller investment. This account type requires a minimum deposit of $500, but traders can invest up to $4,999. Like other account types, it allows for trading in micro-lots, an excellent feature for traders who want to manage their risk exposure. The account also offers a relatively tight spread of 1.6 for major pairs such as EUR/USD. Like the other packages, it provides access to the MetaTrader 5 trading platform, a powerful and user-friendly platform many traders worldwide use. The mini account seems fitting for beginner traders who want to start trading forex with a smaller investment and a lower risk profile.
Gold Account
The gold account is more fitting for traders with a moderate risk profile willing to invest significantly higher capital while enjoying comparatively tighter spreads in their trading activities. The minimum deposit for this account is $5,000, but you can invest up to $9,999. The spread is 1.3, which is tighter compared to the mini package. Besides this, the gold account doesn't differ from other account types in any other discernible way.
VIP Accounts
The VIP account is a high-end trading account designed for experienced traders willing to invest significantly higher amounts to earn higher profits. You can only trade with this account if you can invest at least $10,000. However, this high minimum comes with a raw-tight spread of 1 for major pairs like EUR/ USD, allowing traders to enter and exit positions with lower costs and potentially earn more profit from each trade. Keep in mind, though, that a tight spread isn't the sole determinant of your trading success; other factors, such as market volatility, your trading strategy and risk management, also play significant roles.
MetaTrader 5
All trades are executed through the cutting-edge and highly-advanced MT5 platform, which streamlines multi-asset trading thanks to its robust features and functionalities. A few of these core features include advanced charting capabilities (up to 100 charts), robust built-in and customizable indicators, real-time quotes, one-click trading options and a range of order types to facilitate trading. The platform also offers advanced risk management tools to help traders manage their positions effectively. Additionally, the MT5 platform has a user-friendly interface that is easy to navigate, making it an excellent choice for novice and experienced traders.
Research and Educational Tools
ALB provides a wealth of highly insightful research information for market participants interested in honing their analytical skills within the framework of intensive market research. The economic calendar helps traders track important macroeconomic events and their impact on the financial market. The blog is loaded with quality video content on the general daily market outlook, which can guide decision-making before trade initiation. Benzinga rates ALB 4.5 out of 5 on product offerings.
ALB offers 24/7 live customer support via WhatsApp. You can also make inquiries via the live chat options or fill out the online ticketing form. You can expect to get a response in less than a minute through the live chat option. Another excellent way to connect with the company and make inquiries is via its social media handles, including Instagram, Facebook, YouTube and Twitter. The company lacks reviews from independent platforms like Trustpilot, making it hard to know how customers feel about the platform. Regardless, Benzinga rates ALB 4 out of 5 on customer service based on the multiple customer service points.
ALB takes adequate measures to protect customers' private information and safeguard funds. Personal information shared with the company is held in a combination of secured computer storage facilities and paper-based files, where it is protected from misuse, modification, disclosure and unauthorized access in line with applicable local laws. The company securely destroys personal data when no longer needed.
Customer funds are held in a segregated client account at regulated banks. The company doesn't merge its capital with its assets. Your funds are essentially ring-fenced from the company's credit and are never used by the company for business activities like hedging trades with other counterparties. Benzinga rates ALB 4.5 out of 5 on security.
The platform's competitive or low minimum deposit significantly lowers the entry barrier for average traders with low investment capital. ALB charges no account opening, monthly or hidden fees for both the demo and live account; it accepts deposits in cryptocurrency. An instant withdrawal option is available if you need to withdraw money after a profitable trade. Benzinga rates ALB 4.5 out of 5 on pricing.
The ALB platform is user-friendly and easy to navigate. The account opening process is straightforward and can be completed in three simple steps. There's no onboarding process; your account is instantly approved once you upload the requisite documents. The demo account is readily available to help you gain experience in the market and test out new strategies without risking your finances.
If you have problems or complaints, you can seamlessly connect to the team via the live chat option for speedy resolution. These qualities or features make for an excellent user experience. However, while the platform offers various trading tools and features, it may be overwhelming for some new traders to navigate. Benzinga rates ALB 5 out of 5 on user experience.
ALB vs. Competitors
ALB has a few similar competitors, like eToro and OANDA. Like ALB, these online brokers offer traders access to diverse financial instruments, including forex, metal, commodities, indices and CFDs. However, eToro and OANDA offer more asset classes and are well-regulated. Unlike ALB, eToro and OANDA charge various fees, including inactivity, withdrawal and currency conversion.
In ALB, trades are executed on MetaTrader 5 (MT5) — the industry's most advanced and cutting-edge trading software. In comparison, eToro uses its proprietary technology, while OANDA uses MT4. MT5's robust features and fast execution trumps other platforms. ALB's core competitive advantage lies in its zero fees and robust trading software.
- Best For:Forex Traders Seeking a Reliable and Secure Trading PlatformVIEW PROS & CONS:securely through ALB.com's website
As a forex and CFD broker, ALB's competitive trading conditions, such as low spreads, high leverage and no commissions on forex and metals trading, make it outstanding. The company has a range of trading accounts with various features and benefits, including a demo account for beginners to learn and practice trading. The platform is easily navigable and user-friendly, with comprehensive educational resources to help traders improve their skills and knowledge. Additionally, ALB provides excellent customer support via various channels, including WhatsApp and live chat.
One potential point of improvement for ALB could be the availability of more trading platforms, as currently, it only offers the MetaTrader 5 platform. MT5 is the most advanced trade execution platform, so average traders may find applying the tools difficult. The platform could offer MT4 in addition to MT5. Benzinga rates ALB 4.5 out of 5 overall.
Frequently Asked Questions
What is forex investing?
Forex investing or forex trading involves buying and selling currencies to profit from fluctuations in their exchange rates. Forex trading is typically done via forex brokerage platforms like ALB or financial institutions that grant traders or investors access to the global foreign exchange markets, where currencies are traded 24 hours a day, five days a week.
Can I trade forex with $100?
Yes, you can trade forex with $100 if it’s within your broker’s minimum deposit requirements. Keep in mind that lower capital limits your trading options and potential profits. A $100 capital means you’ll need very high leverage to earn a profit; higher leverage means more significant risk. Unless you’ve got a solid trading plan and sound risk management strategy, profit may be unrealizable with $100 capital.