ALB Review 2024
Website: www.alb.com
Min. Deposit: US$ 500
Leverage: 1:200
Trading Platforms: MT4, MT5
Regulation: MFSA
Headquarters: Malta
Founded: 2011
Regulatory Licenses:
- ALB LIMITED - authorized by MFSA (Malta) registration no C 79767
Updated on February 27, 2024
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Our comprehensive review method involves a meticulous analysis of a vast array of forex brokers, specifically over 1000, to deliver an informed, unbiased perspective. We evaluate each broker based on several critical factors, including regulatory compliance, trading platforms, available instruments, fees, spreads, leverage options, customer support, and educational resources. This holistic approach ensures that our recommendations are based on reliable data and real-world trading experiences, aiming to assist traders in making informed decisions.
ALB, also known as ALB Prime, operates as a CFD and Forex brokerage firm, offering an extensive selection of trading options that include more than 100 major and exotic Forex pairs, alongside stock indices, commodities, crypto CFDs, metals, bonds, and more. Situated in Malta, ALB is regulated by the Malta Financial Services Authority (MFSA) and is acknowledged by European authorities such as CONSOB and BaFin via cross-border registrations. Previously, ALB maintained regulation with the prestigious Financial Conduct Authority (FCA) in the UK. However, following Brexit, its authorization as an EEA-based firm with the FCA was withdrawn.
Pros
Offers a wide variety of trading instruments
Competitive trading fees
Access to the popular MT4 and MT5 trading platforms
Provides 24/7 multilingual customer support
Features good research tools including Autochartist
Cons
Limited educational materials and seminars
Does not hold a toptier license despite being regulated in Europe
ALB is not a scam. It is a regulated brokerage firm, authorized and supervised by the MFSA and recognized by additional European regulatory authorities. The presence of regulatory oversight instills a degree of confidence, though traders should conduct comprehensive research to ensure the broker aligns with their specific trading needs. Given its operation under European entities, ALB can be considered relatively safe, offering an added layer of regulatory protection.
Leverage is a tool that can significantly benefit traders by allowing them to enter the market with a smaller initial investment. However, it's crucial for traders to fully understand leverage and the associated risks before engaging in leveraged trading. ALB offers leverage in alignment with MFSA regulations, providing higher leverage of up to 1:200 for Professional Traders and up to 1:30 for Retail traders, in accordance with European regulation. It’s essential for traders to comprehend the potential consequences and risks linked with leverage prior to making use of it in their trading strategies.
Per our analysis, traders are presented with a choice among three distinct account types when engaging in trading activities with ALB. This broker stands out for offering competitive spreads and commissions across all account types. For individuals opting for the Mini Account, a minimum initial deposit of $500 is required, which stands somewhat higher compared to the offerings of other brokers that do not mandate an initial deposit.
Account Types
Traders can select from the following account types:
Mini Account: Designed for newcomers with a minimum deposit requirement of $500.
Standard Account: Aimed at intermediate traders, offering more robust features.
Premium Account: Tailored for experienced traders, providing the most comprehensive trading tools and services.
Opening ALB Trading Account
The process to commence trading with ALB is streamlined and user-friendly. To open an account, one needs to:
Navigate to the "Open an Account" page.
Fill in the necessary personal information (Name, email, phone number, etc.).
Submit documentation for verification (proof of residence, ID, etc.).
Complete an electronic quiz to confirm trading expertise.
Following the activation and verification of your account, you are required to proceed with depositing funds.
Our in-depth research and assessment indicate that ALB offers competitive pricing and commission rates for the majority of its trading services. However, traders may encounter fees related to deposits and withdrawals, in addition to swap fees that vary based on the funding method and account type selected. It is imperative for traders to thoroughly review the broker’s fee structure to grasp the applicable charges fully and understand their potential impact on trading activities. ALB’s fees are considered average, with an overall rating of 3.9 out of 5, based on our evaluation and in comparison to over 1000 other brokers.
Our analysis reveals that ALB provides competitive and narrow spreads, with an average spread of 0.7 pips for the EUR/USD currency pair within the Forex market. It is important to note that spreads may fluctuate based on market conditions, volatility, and liquidity. We advise consulting the broker’s website or reaching out to their customer support for precise information. ALB’s spreads are deemed average, attaining an overall rating of 3.9 out of 5, in our comparative testing against other brokers. We observed that the Forex spread is below the industry norm, and spreads for additional instruments are also competitive.
This forex broker provides several options for funding your trading account, including Bank Wire, Credit/Debit cards, and Crypto payments. It's important to note that specific payment methods may come with their own set of requirements or limitations, depending on the client's bank or other financial institutions.
Our evaluation of the funding methods offered ranks favorably, achieving an overall score of 4.0 out of 5. The fees associated with these methods are competitively low, and the broker supports a variety of account-based currencies, enhancing flexibility for traders.
Pros
Low fees across various funding methods
Supports multiple accountbased currencies
Cons
Some payment methods may have restrictions based on financial institutions
To initiate trading with this broker, a minimum deposit of $500 is required for a Mini Account. This deposit amount is in line with industry standards but may not be as accessible for those with smaller trading accounts.
Withdrawing funds from your account is straightforward. Should your bank operate in a different currency than your trading account, a currency conversion will be applied upon receipt of the payment by your bank.
Steps to Withdraw Funds from Your Account:
1. Log in to your account
2. Select 'Withdraw Funds' from the menu
3. Enter the amount to be withdrawn
4. Choose your preferred withdrawal method
5. Complete the electronic request form
6. Confirm the withdrawal details and submit
7. Monitor the status of your withdrawal through the dashboard
The broker provides access to the renowned MetaTrader 4 and MetaTrader 5 platforms, both celebrated for their robust features, intuitive interfaces, advanced charting tools, and comprehensive trading capabilities.
Both the MT4 and MT5 platforms are available for desktop use on Windows and Mac, as well as through mobile applications for iOS and Android devices. The inclusion of the MT5 Web Trader platform further enriches the trading experience, offering traders the flexibility to choose the platform that best suits their trading needs and strategies.
Our assessment places the platform offering at a score of 4.3 out of 5, compared to over 1000 brokers. The availability of advanced and popular platforms like MT4 and MT5, suitable for various trading strategies, is a significant advantage.
Pros
Access to MT4 and MT5 platforms
Available on desktop, mobile, and web
Cons
Limited to two platform options
The desktop platform offers a suite of trading tools, including 44 analytical charting tools, trading signals, an economic calendar, and over 38 technical indicators. Additionally, traders can leverage Expert Advisors (EAs) for automated trading, enhancing their market analysis and trading strategies.
Customer support is available 24/7 through multiple channels, including phone, email, live chat, and social media. The support team is adept at addressing a wide range of inquiries, from technical questions to general information and operational assistance.
Our evaluation of the customer support service results in a high rating of 4.3 out of 5. The team's responsiveness and availability, even on weekends, ensure traders can receive efficient assistance when needed.
Pros
Multiple channels for 24/7 support
Responsive and efficient assistance
Cons
Not specified
While the broker's website lacks extensive educational and research materials, seminars, or webinars, it does offer a Blog and an Economic Calendar. This limitation in educational resources is a notable downside, as such materials are crucial for traders to develop their skills and knowledge.
However, the provision of the Autochartist tool partially compensates for this. It offers traders user-friendly and efficient features for market scanning, identifying potential trading opportunities, and making informed decisions. This tool is an invaluable resource for traders looking to refine their strategies.
Our rating for the educational offerings is 3.8 out of 5, suggesting that traders might want to consider alternative brokers with a more extensive array of learning materials, especially if they are beginners.
Pros
Availability of the Autochartist tool
Cons
Limited educational and research materials
ALB is a regulated brokerage firm that provides competitive trading conditions, a broad range of financial instruments, and access to advanced trading platforms. The broker offers advantageous pricing and commissions, along with tight spreads for various trading activities.
Despite the lack of extensive educational materials, ALB makes up for this with the Autochartist tool and an array of trading tools, including advanced charting features. The provision of 24/7 customer support ensures that assistance is always within reach.
Overall, ALB presents a competitive trading environment suitable for traders of all levels of experience. Nonetheless, the absence of a top-tier license suggests that potential clients should conduct comprehensive research and carefully evaluate the broker's offerings to ensure they meet their trading needs.
Based on our findings and financial expert opinions, ALB is recommended for:
European traders
Traders who prefer the MT4 and MT5 trading platform
Currency trading
Beginners
Advanced traders
STP/NDD execution
Competitive spreads
Exceptional trading tools
Continuous customer support
