alfa

FAQ's

1. What is Alfa Financial?

Alfa is a Financial and Monetary intermediary in the U.A.E. licensed to conduct intermediation in dealing in currencies, as well as, intermediating in money market transactions in the United Arab Emirates by the Central Bank of the U.A.E. We specialize in providing our clients with access to high quality online trading services.

2. Are you a regulated company?

Alfa Financial is licensed and regulated by the Central Bank of the U.A.E. who regulates all financial services activities conducted in and from within the United Arab Emirates. We strictly follow all financial services regulatory and registration legislations that apply to our company.

All of the products and clearing firms we allow to be marketed to our potential customers are strictly vetted by us and approved by the Central Bank of the U.A.E. in order to help safeguard the public against any illegal and/or unauthorized financial services business operating in and from within the United Arab Emirates.

3. Where and how can I start trading?

Before you can start trading, you need to open a free practice account with us and download our demo trading platform AX1 Trader Demo. To open your account, please visit http://www.alfafinancials.com/index/open-account

4. Do you manage accounts?

No. Alfa only provides intermediary services to help open accounts with our regulated international clearing firms. We do not offer managed-account services.

5. What is a Clearing Firm?

A Clearing Firm works with the exchanges to handle confirmation, delivery and settlement of transactions. It is their responsibility to ensure that executed trades are settled efficiently within a specified period of time.

A Clearing Firm works with the exchanges to handle confirmation, delivery and settlement of transactions. It is their responsibility to ensure that executed trades are settled efficiently within a specified period of time.

6. Can I test your trading system first?

Potential customers are highly recommended to practice their trading skills with virtual money on AX1 Trader Demo, for at least a month, before starting to trade in a live account with real money. Each user gets virtual $25000 on account opening and this virtual money can be used for practicing for a period of 30 days.

7. What if I do not know how to trade?

Do not become a client of Alfa Financial until you have completely read, understood, and acknowledged how to use our trading platforms. If you do not completely understand some of the information, you may consult an advisor of Alfa with specific queries.

8. When can I trade?

You can trade 24 hours a day, 5 days a week from Sunday 9PM to Friday 9PM

9. How much money do I need to start?

We require an initial deposit of $25000 to open a live trading account after you have completely read, understood, and acknowledged how to use our trading platforms by using AX1 Trader Demo. If you want to open an account please go to http://www.alfafinancials.com/index/open-account and follow the steps there.

10. How long does it take for Alfa to set up the account from the date you receive the application?

Live Trading accounts are usually set up within 1 business day, once all the forms are filled and submitted along with the supporting documents.

11. Do you charge fees or commissions when opening a live trading account?

No, opening accounts through Alfa is free.

12. How can I become a Referring Broker to Alfa Financial?

We have a very attractive affiliate program providing an opportunity for our customers and locally licensed third-parties to make sizable commission earnings. Please read more about our affiliate program at http://www.alfafinancials.com/alfa/beta/webpages/institutional_alfa_financials.asp page.

13. Can I open two accounts?

Alfa has very strict 'one person one account' policy. No matter if an account is in good standing or is cancelled or closed, we do not allow same person to hold two different accounts. If our administration system detects there are multiple accounts registered by the same person, such account holders will be required to provide supporting documentation. In case there are violations of this policy, Alfa may block any access to such users. This policy was introduced as a response to many related misuses Alfa has experienced in the past.

14. How can I deposit funds to my account?

In accordance with our regulations, as set forth by the Central Bank of the U.A.E., Alfa Financial L.L.C. is unable to accept or handle any customer funds. All trading funds are deposited with and handled by our international clearing firms.

International regulations do not permit cash payments directly into their bank account. Please make sure that the funds that are transferred come from a bank account in your name which has the exact same beneficial owner (name and/or title) than the one indicated in your account opening form

15. How secure are my account funds?

We are authorized and regulated by the Central Bank of the U.A.E. and we do not accept or handle any customer funds. Client trading funds are held by the clearing firms who are regulated by the FSA and the NFA respectively and as per regulation all client funds are kept in a segregated client bank account.

16. How much time is required before my transferred funds are deposited and available for trading?

All client deposits are handled by the approved clearing firms. All transactions are handled the day they are received; however, transaction time also depends on the processing time required by the depository bank.

17. Does the Clearing Firm accept deposits from third parties?

No. Only transfer of funds from accounts that carry the same name as the client's are accepted by the Clearing Firms.

18. Where can I view my account details?

To see your account information, username and account number, you can login to your Live Account at https://www.alfafinancials.com/live-login page.

19. How long does it take to withdraw funds from my account?

You can withdraw your funds whenever you want. For security purposes, withdrawal process is never automated, for, it takes up to 3 days to clear but it usually clears within 24 hours.

20. Can I trade through your web site?

In order to trade with Alfa, you have to download the respective software of our clearing member from our website. There is no other way to trade.

21. What Operating System do I need?

We currently support Windows 2000/ XP/ Vista/ 7.

22. How secure is your software?

Each and every transactions encountered from the Alfa Financial software gets encrypted before it is communicated to the server and gets decrypted only through the server. And each product of Alfa Financial possesses a unique key, which is the gateway to communicate the server, so none other than the authorized Alfa Financial products will be able to communicate with the server.

Send us your comments, suggestions and any additional questions you might have about Alfa services or any of its features.