FAQ

What is the difference between a Live account and a demo account?

The main difference is that there is no capital at risk when trading in a demo account. Alfa Financials provides you with a demo account which has real-time quotes and charts, along with all the trading tools and much of the functionality as on a Live account, including order types, and more.

Can profits from a demo account be collected?

No. The demo account is only good for practicing trading using virtual currency. Therefore, no profits or losses are awarded.

How can I open a Live account with Alfa Financials?

Opening a Live account is simple. Just following the steps outlined below:

1. Complete Account Application form

   You can apply online from our website.

2. Verify Personal Information

   Please submit two (2) forms of identification, including one (1) photo ID (i.e. passport or any other government-issued identification document bearing a photograph), one (1) proof of address (i.e. utility bill, driver's license, bank statement, etc.), AND one proof of banking or proof of SARS registration.

3. Fund Your Account

   Once you have received a username and password for a Live trading account, fund your account and start trading.

What currencies can be used for deposits?

You may choose to open a live account and deposit in USD or ZAR.

What items can I trade with on Alfa Financials?

Alfa Financials offers commodities, energies, stocks, indices, and all major currency pairs for trading, including exotic currencies. For a complete list of all items available to trade please refer to Product Overview .

What is the minimum amount of currency I can deposit?

With Alfa Financials, minimum deposits begin at USD 1000 (ZAR 15,000) for standard accounts.

What is the smallest position that I can trade with?

A micro lot (0.01 lots) is the smallest position size that you can trade with at Alfa Financials. Trading micro lots is a good way to contain the overall exposure of their trading account.

What is the maximum leverage available?

With a Live trading account at Alfa Financials you can enjoy a maximum leverage of 100:1.

What are your commissions and fees on trading?

Alfa Financials charges a fixed trading fee of USD 15 per lot. Please refer to the Trading Fees section to see our complete list of trading fees and commissions.

How will my funds be held?

All client funds are held in accordance to the Financial Advisory And Intermediary Services Act, 2002 (Act No 37 of 2002) and is always kept in segregated trust accounts in a recognized bank in South Africa.

Are US clients accepted?

Unfortunately at this time, Alfa Financials does not accept clients from the US.

How do I withdraw funds?

Complete a withdrawal request using a Withdrawal Request Form and email it to backoffice@alfafinancials.co.za.

Can I withdraw onto another person's card/bank account?

Alfa Financials will not accept or consider any third party deposits or withdrawal requests..

Can I withdraw onto another person's card/bank account?

Alfa Financials will not accept or consider any third party deposits or withdrawal requests..

How do I close my account?

To close your account, please email your request to backoffice@alfafinancials.co.za.