Alvexo
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Alvexo
Overall
I've only been with Alvexo for a few months but so far I'm very happy with them, haven't had any problems at all. Generally good spreads - certainly for the major pairs anyway; orders usually go right through without requotes; customer service timely and helpful.
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Dear Andreas,
We appreciate your kind words.
Client satisfaction is one of our highest priorities here at Alvexo and we are glad this matter has been resolved.
We are always at your disposal should you require anything further.
Sincerely Yours,
The Alvexo Compliance Team
Overall
I would like to thanks compliance office and customer service for their assistance in order to clear the issue.
Everything was resolved with the good will of the company and got a full refund for my account. They act very professionally and I feel very satisfied with the conclusion.
Moreover, I have learned a lot during my trading with Alvexo and I recommend the company to anyone who wants to trade with a professional way. Also they have a great platform for mobile phones.
:)
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Dear Andreas,
We look forward to receiving your documentation and we will reply accordingly.
The Alvexo Compliance Team.
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Dear Compliance
I will send an email to you and attach a printed documentation of the communication I had with you and you agents through time to Legal Documentation even your compliance as you mention to the website that you resolve issues within 7 working days.
Thank you
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Dear Andreas,
As you were told in a phone conversation between you and Andrew, on Friday January the 29th, you are more than welcome to attend a meeting with us and view our records. You answered our suggestion as quoted: “I don’t need anything; I have my records”.
If you change your mind and choose to come for a meeting, please send us an email to [email protected] and we will schedule an appointment.
If you wish to submit a formal complaint please refer to the section “Legal Documentation “ at www.Alvexo.com and follow the Complaint Procedure as instructed.
The Alvexo Compliance Team.
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Dear compliance I still did not understand the fact that you are always doubting my words and not your employees. Honestly it is the first time that I have faced this position from a company,going against the word of there client. Why its so hard to believe me and you just stand to the position of your Brokers. As I remember I have never ask anything from your company.Until now you are telling me facts but did not show me any evidence as i did, just what comes from the mouth of your employees, why then I have to be pursuit. I am afraid I cannot take as true what you right and telling me because is of your employees. If you have real proves please provide them accordingly not just unspecified records.
I told you many times until now to listen the conversation that we had with Steve at 25/01, the first and the second one (you can find the dates as I do not remember them). That will make everything clear to you. Please stop trying to change the story.
Its not my job to defend myself, as is my word against internet, as your Broker Steve said me, or you don't believe even that!!
I do not have any reputation to waste so its very frustrating the whole matter for me. I just expressed my experience with your company even if you like it or not that the facts except if you have anything else to show.
In order to be done and solve the matter please answer me if can you hear the phone conversation with Steve on 25/01 YES OR NO. IF YES please do if you did not.
AND LAST Do you believe that your company and your employees done well with acts through the whole process YES OR NO.
PLEASE SIMPLY ANSWER ME WITH A YES OR A NO.
I wait your answers the soonest
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The screenshots I have already attached shows a message for no reply to your Senior Broker Steve and not only for Kyriaki. Please refer also to that do not just ignore it and mention only the Sales Advisor.
Dear Compliance 4th of January was the first appointment and he did not called me to the second one due to China reasons. I have mention it already to the first message of our conversation and that was the reason I withdraw my money. But you already know this fact. Please reply with a YES if I am write OR a NO if I am wrong.
For the profit you mention of course it was due to luck, as stated, and Steve repeated the same things as Andrew. And told me to trade freely as I mentioned above to the second message without telling me/inform me if a position goes loss how to act. He told me after the position was around 500-700 dollars loss. That is called after effect with real money.
For the Gold account you are referring you provide the one to one support. I have show interest to learn from the Demo Account, but that was skipped from your experienced Brokers, and not from the Live one. Although one to one you provide is twice or three times per week, as Steve inform me. Also he mentioned that with ECN he will train me every day, I guess that's why he enforced me to upgrade my account to ECN and automatically jump expertise level!! I have never complaint about spreads or any other cost you have, so I guess again Steve was doing it due to his good faith. Also, can you please explain me the more benefits you mention, because nobody informed me about that yet. Morevover he forget the other two facts that I was inexperienced and did not have time to trade. I don know if the one to one training was stronger than the other too reasons and he decided for me, without asking me what I wanted. I was very clear from the beginning for what I was asking for and as you notice we begun with Classic Account then -> Gold Account -> ECN Account. Fortunately I did not speak with any other Broker, as he could suggest me Prime Account due to the one to one support. He told me to trade, so please if you don't agree with this I kindly ask you to upload any conversation you have to clear the situation.
Please ask you broker Steve to inform you what he said during our phone conversation at 25/01 about the Gold Account : is not enough 15-20 minutes per day for trading with that account (as Kyriaki - Andrew mention) and that he admits a mistake that he should told me to close 2 positions with loss appr.1500-2000 each. As I understand now we left the reason time aside and got the reason one to one training.
For the signals and economic calendar I have spoken with you Broker and mention him the problem and he said me ok and did something which I don't know, but still couldn't receive anything on my phone or email, even that is called economic calendar nor signals. If you do not have the records please listen the recordings it was on the third discussion we had if I am not mistaken. Check it please and answer me with straight answers and not like politicians to clear the situation.
For the no reply messages it was not just Kyriaki, I have send to Steves manager some more screenshots with no replying.
Also there are still few points that you forget to answer as I noticed and I repost it :
1.Another point that you did not clear out is the fact that i mentioned from the beginning to your sales representative that i did not had the time to trade nor the knowledge so i needed a classic account, which is for beginners, as you state on your website. You mentioned profit at your reply and i am wondering if with the classic account you cannot get a profit of 200-400 dollars, as that was my goal, and i needed a gold account (which as you note again is for experience traders).
Also i strongly believe and learned, through my life, training with real money is done before the effect and not after the effect, and i am mentioning to the hedge position. When Steve told me to trade freely with 0.20 or 0.50 i did. He did not mention or inform me how to react or prevent more loss. As you already know 0.20 or 0.50 can cause a lot of trouble on a $2500 account.
I have mention to Andrew that i was not receiving any signals on my mobile phone or email and he did something and activate it, but forget to mention that signals is not to email or mobile phone just the website, despite the fact that i was not receiving any SMS on my phone for economic calendar (but as your MANAGER mentioned on Monday on our phone conversation that this is not important as i was unexperienced and may cause me more troubles). I do not know if i am the only one which sees the paradox here
2. You replied that ''The appointed call you were referring to with Steve, as not upheld, was in fact simply delayed as Steve was on another call and had called you as soon as he had finished.''
I do not know who is telling the truth you or your broker. Steve inform me that he was late due to some personal problems with his wife and something about bank..
In addition I am asking your permission to share our conversation to my personal accounts on WWW.
Overall
Dear Andreas,
Our records show that your first scheduled appointment with Andrew did in fact occur on January the 4th, at approximately 10:26am, as you had requested in an email correspondence with Andrew.
During your first call with your Account Executive Steve you mentioned to him that you had made profits on the Demo Account because, as quoted by you, “did not study” and “ you got lucky”. Following your statement Steve had decided to go over the same training material with you as Andrew had, for you to fully comprehend it.
The reason you were advised to open a Gold Account is because you had shown interest in the one-on-one support provided on that account. There is no difference difficulty wise when referring to the gold account or the classic account. Experienced traders tend to select the Gold Account, rather than the Classic Account, for the reason that the spreads are lower and you receive more benefits. The one on one support is customized to each client’s level of expertise.
Regarding the ECN account; on this specific account certain methods of trading are possible within strict time scales, due to its extremely low spreads. This is why Steve had suggested you upgrade to an ECN account at such an early stage, since you had stated that you do not have much time to spare to trade daily.
Alvexo does not offer Trading Advice, as stated in our website, and as such do not provide advice to clients. All recommendations provided by our signals should be accepted as marketing communication. Please see https://www.alvexo.com/promotions/trading-signals. You had asked Steve if you could open a 1 lot position, to which he had informed you that there were risks involved in high volume trading. He did not advise you to “trade freely” as previously stated by you.
Since you had not registered through the “Free Trading Signals Campaign”, receiving signals via SMS is a privilege available only to our Prime account, holders, as also stated clearly on our website. Steve had suggested upgrading your account to a Prime Account in order for you to qualify for this feature. You may have mistaken signals with economic calendar notifications, which are available to receive via SMS on a gold account upon your request. We do not have any records of such a request on your behalf. If you could kindly indicate when and the method with which you had requested the above we will be more than happy to investigate the reason why your request had not been attended to and seek appropriate action.
In regards to the screenshots added on your behalf; you had sent an email to our Sales representative Kyriaki on the 22nd of December 2015. We sincerely apologize that your emails had not been answered, unfortunately our Sales representative Kyriaki was away on annual leave due to holidays, and her emails had not been forwarded to an appropriate contact person until public holidays were over.
We also agree that once a fault has been made on our behalf, whether unprofessional conduct or neglect to take prompt care of any Alvexo clients, an apology is in place. Alvexo will reexamine all recorded calls once more and further investigate employee behavior when necessary.
The Alvexo Compliance Team.
Overall
I am sorry that i had misplaced this point of your reply and i will answer it now . You replied that ''The appointed call you were referring to with Steve, as not upheld, was in fact simply delayed as Steve was on another call and had called you as soon as he had finished.''
I do not know who is telling the truth you or your broker. Steve inform me that he was late due to some personal problems with his wife and something about bank.. Off course everything is recorder so please feel free to upload our conversation.
It is not bad to admit that someone on your company has make a mistake besides we are all human.
Overall
For the date you mention above it was my mistake and I apologize you are correct
http://www.myfxbook.com/files/andreashad/upload1.jpg
. Also i want to congrats you for solving the issue with the live chat and clear out that i have nothing personal with the employees of Alvexo neither i know in person someone.
To the point now, you forget to mention the first incident with the Senior Broker Andrew that he lost the appointment and thats why I decided to withdraw my money and after that he called me explaining me the reasons off the loss.
Secondly, the first lessons with Steve took that long because he open for the account and more or less told me the same things as Andrew, like how to open positions, RSI, when to Buy or Sell and a few more things. Unfortunately, i don't have the recordings to hear and remember what was said, but you can upload them, you have my permission.
Another point that you did not clear out is the fact that i mentioned from the beginning to your sales representative that i did not had the time to trade nor the knowledge so i needed a classic account, which is for beginners, as you state on your website. You mentioned profit at your reply and i am wondering if with the classic account you cannot get a profit of 200-400 dollars, as that was my goal, and i needed a gold account (which as you note again is for experience traders). Moreover, if you could not train me with the classic account, it means that you have unexperienced customers to trade alone without any help from a person on your company. Adding to that, to the first appointment with Steve he asked me if I wanted to add more money to open an ECN account!! With 15-20 minutes on trading you can have an ECN account ? or maybe i was not clear enough form the first time?? But, form the other hand maybe the brokers are too committed to the goals you have as a company and try to bring money to the market (as you told me through our phone call today) and forget to read the portfolio of each customer.
Also i strongly believe and learned, through my life, training with real money is done before the effect and not after the effect, and i am mentioning to the hedge position. When Steve told me to trade freely with 0.20 or 0.50 i did. He did not mention or inform me how to react or prevent more loss. As you already know 0.20 or 0.50 can cause a lot of trouble on a $2500 account.
I do not have any difficulties to browse through the website, and i have mention to Andrew that i was not receiving any signals on my mobile phone or email and he did something and activate it, but forget to mention that signals is not to email or mobile phone just the website, despite the fact that i was not receiving any SMS on my phone for economic calendar (but as you mention today on our phone conversation that this is not important as i was unexperienced and may cause me more troubles). I do not know if i am the only one which sees the paradox here -- Have a Gold Account, for experienced investors, because you feel that it suits me from my words but deleting some of the privileges you provide, without inform me, because i am not experienced--
Below i attached a few print screens of no reply on my emails. I feel sorry that some attachment are in Greek language and you may not understand and for my English.
http://www.myfxbook.com/files/andreashad/upload1.jpg
http://www.myfxbook.com/files/andreashad/upload1.jpg
http://www.myfxbook.com/files/andreashad/upload1.jpg
http://www.myfxbook.com/files/andreashad/upload1.jpg
Overall
Dear Andreas,
We would like to inform you that we take your complaint as of the highest importance, and therefore have investigated your claims. We hope our response will clarify any misunderstandings that may have occurred.
Firstly, you state that our Sales Representative Kyriaki had contacted you for the first time 8 days ago however, our records show that your last conversation with said representative occurred over a month ago, on Dec 22nd, the day you had made your deposit.
We listened to the recorded call, made to you by our Senior Account Executive on January 4th , and he provided you with training on the Demo Account, following an explanation on how to switch to the Live Account.
On January the 13th, Steve - your Account Executive, gave you another lesson, which lasted 39:34 minutes. Steve had warned you regarding over exposure and explained the risks involved. On your first lesson you were also advised to watch the margin level carefully, which seems to have been disregarded. You also had additional conversations with your Account Executive(s) in which they provided you with further information and answered all of your queries.
The appointed call you were referring to with Steve, as not upheld, was in fact simply delayed as Steve was on another call and had called you as soon as he had finished.
As you said yourself, you were asked if you wanted to start trading on your live account and you had replied positively, at which point you were warned once more about the risks involved.
Regarding the claim that you had been “pushed into a gold account”; you had left your details with our affiliate and expressed an interest in opening a trading account. You had shown an interest, whilst speaking with your account executive, to gain as much education and training as possible. Once asked why you had decided to begin trading you stated that you had shown an interest in trading because you needed to increase your income.
Please note that there are no charges/fees on our gold account, and therefore hadn’t been mentioned to you.
Signals are available on your Alvexo account, which you enter via www.Alvexo.com, and select the option “Signals” .If you have any technical difficulties locating the signals we are always happy to assist.
We find it hard to understand the reason why you had felt left alone, judging by the frequency and duration of calls made between you and your Account Executives, and the constant attentiveness whenever a query was raised.
We remained as your disposal,
The Alvexo Compliance Team.
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I would like to mention also that the live chat they have on there website in not working.
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I have opened a Demo Account before months and I did not use it due to lack of time and the fact that I did not had any experience about trading. Before 8 days a Sales Representative called me and start pressuring me to open a normal account. Kyriaki, which was her name said to me that I will only need 15-20 minutes per day and that they will provide me proper trading. Unfortunately, nothing of those is real. Also I mentioned to her that I wanted to have a few lessons at the Demo Account and then to the Real Account. She replied ok and I have deposit my money to the account. To the first lessons which was approximately 25 minutes they open me the platform, show me how to open and close positions and about RSI. Until here everything was good. Moreover, we arrange with my Senior Broker, Steve, a second lesson, after few days, which unfortunately due to some reasons of him or the company did not call me. After that I decided to withdraw my money as I realized that the conditions were different that they told me. Despite, my desire to close my account Steve contact me immediately and changed my opinion. So we arrange a new lesson. To that time I receive a call from a new Senior Broker Andrew which asked me if I want to update my account and deposit more money for better profit. My answer was no for now and he asked me if I wanted to transfer to real platform. I answered yes and he show me again the RSI and how to open with one click the positions. To the main time I send to Kyriaki an email but she never replied back to me. Also, I have the same communication problem with my Senior Broker.
So, as an inexperience person they pushed me to open a Gold Account without information about charges etc. They should have sent me signals on my email or mobile phone but unfortunately neither that is working with them.
I would characterize the whole situation as deceiving due to lack of information to the persons that they contacted me and the fact that after you make the deposit to them they let you alone so be careful!!!
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Gail followed up the issue I encountered before and explained everything in details. They refunded me all the money I lost in trading, which was caused by wrong account type. Furthermore, Gail provided me additional $1000 bonus to enable me to continue evaluating their platform and service. I have to say Alvexo has good thing that other brokers dont have, which is they do assign a dedicated personal broker to provide suggestions and training. It is nice to see their genuine apology and correction. I will carry on this account more time to see how everything is going on.
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This Allan again. After I placed the complaint here. Alvexo contacted me promptly, making apology, Refund me some money I lost in trading and appointed a new personal broker to train me. The following-up of the complaint was satisfied. Hope this company can review their commission structure. To be honest, the commission is too high. It is not a competitive one. hope they can do a better job. To Maria, just don't push people hardly.
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This is a very terrible broker. I don't understand how they can survive in brokerage market! $18 commission for 1 lot round turn! When I asked Maria if the commission is $1.8, she said YES. But when I started to trade, and found they charge me $9 for 0.5 lot! The other guy in Alvexo told me the "1.8" shown on their website is 1.8pips not 1.8dollars. There were a lot very unprofessional issues. Such as, I told Maria I need an ECN account, but I got a standard account, whose spreads is much higher than other Market Maker broker. Finally, I decided to quit and applied for withdrawing my money. it tooks almost 2weeks to credit back to my credit cards!!!! Also, their salewoman Maria gave me too much pressure. She kept calling, and kept persuading me to deposit money. My money went to the Med and came back, almost $1000 NZD lost (bank off shore charges + forex rate change). Thanks Maria gave me so "GOOD LUCK". She does want me to earn money FOR THEM. Be cautious! Be Alarm!😇 😇😂😂😡😡😡
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@tizoo: I too opened an ECN account with Alvexo. From my understanding the spreads are variable and they can change at any moment. It does state that spreads are as low as 0 pips, which means that it can also start at a higher number. Nothing is set in stone when you trade, everyone knows this. The fact that they would respond to you, tells me that they are legit and care about their trading reputation. I have had issues with some trading brokers in the past, but one thing that I do respect is a broker that responds to its clients issues or concerns.
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@tizoo: you may have noticed that myfxbook spreads comparison is dynamic. This with accordance to the fluctuating spreads of an ECN account.
All trading conditions are available on our website.
Our sales representative clarified the ECN account conditions and advised you to start with half of the amount you intended to start off with.
This, in order for you to get fully acquainted with the system and the specificities of an ECN account.
Please note that you requested to withdrawal $2500 four times on September 2nd while only $2452 were available in your account. Thus, we contacted you several times to explain these requests could not be processed and we needed written approval authorizing the execution of a smaller withdrawal. Customer’s satisfaction is one of Alvexo’s highest priorities, therefore, on September 7th , we decided to initiate the withdrawal of the total amount available in your account.
Finally, all emails sent to Maria Cole were forwarded to your account manager who made sure to contact you upon receipt of each and every massage you sent.
We are sorry you chose to end your relationship with Alvexo on this unhappy note.
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I have opened ECN account with Alvexo last week , I chose this broker becouse of what you can see in Brokers Spreads comparison on Myfxbook, so on Eur/Usd spread together with comission it should be around 0,6 pips, and it is one big lie...
They really have tide spreads but just on Eur/Usd and Usd/Jpy but comission...to get to Break Even point You need 1.9 pips so if you add spread the total cost is more then 2 pips. That is not everything, they have the worst execution i have ever seen to get in to a trade takes more then 1 second. You can see it on the movie i did and I attached here. Since wednesday last week I was sending orders to withdrawal my money and it happened just today on Monday that my money was send away from them. Service is worst ever as well...Maria Cole she was my contact person she was keep calling me like 8 or 9 times every day just to force me to open account with them, after i send money and I realized that the conditions are different that they told me and i wrote her that I wanna withdrawal my money she never even answer me. I send her couple of mails that Im asking her to contact me but she never did.
So I was trading with about 11 brokers but that one has the worst service the worst execution, they are very expensive and most off all they are liars...
