CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Alchemy Markets

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Alchemy Markets Review

Alchemy Markets is a provider of forex trading services. Traders can access a wide range of products in a variety of markets, including currencies, indices, cryptocurrencies and commodities.

Pros

  • Segregates client funds
  • Regulated by Financial Conduct Authority
  • Min. deposit from $100

Cons

  • Not regulated by ASIC

A minimum deposit of $100 is required for a live account. Alchemy Markets, on the other hand, provides a free demo account that you may utilize to experiment and familiarize yourself with their platform.

Regulated by the UK Financial Conduct Authority (FCA), registration No 612233. All Alchemy Markets client funds are held in a segregated bank account and they work with tier-1 banks. Their head office is located in the UK. 

Before we get into the specifics of Alchemy Markets’s spreads, fees, platforms, and trading tools, you might want to open their website in a new tab by clicking the button below to get the most up-to-date information directly from the company.

VISIT Alchemy Markets

Disclosure: If you sign up with a broker through one of our links, we may receive a commission.

What are Alchemy Markets’s spreads & fees?

Alchemy Markets, like most brokers, charges a fee based on the spread, or the difference between the bid and ask price of an instrument.

The commissions and minimum spreads shown here are taken from Alchemy Markets’s website

ForexAlchemy MarketsCity IndexXTB
EUR/USD(Average: 0.7 pips)0.2 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)0.2 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)0.2 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)0.2 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)0.2 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)0.2 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)0.2 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)0.2 pips0.5 pips0.1 pips

The spreads are variable and are displayed for information purposes.

As you can see, Alchemy Markets’s minimum EUR/USD spread is 0.2 pips, which is low when compared to the average EUR/USD spread of 0.70 pips.

The table below compares the costs of trading one lot of EUR/USD with Alchemy Markets vs. similar brokers.

SEE ALL SPREADS

How much does Alchemy Markets charge to trade 1 lot of EUR/USD?

You would likely spend $3 if you bought one standard lot of EUR/USD (100k units) with Alchemy Markets at an exchange rate of 1.1719 and then sold it the next day at the same rate.Here’s a quick rundown of the fees and how they compare to IG and XTB.

Alchemy MarketsIGXTB
Spread from:$ 2.00$ 6.00$ 2.00
Commission:$8.00$0.00$0.00
Total cost of a 100k trade:$ 10.00$ 6.00$ 2.00
$4 less$8 less
VISIT Alchemy MarketsVISIT IGVISIT XTB

Fees and quotes are displayed for information purposes and could change.

What can you trade with Alchemy Markets?

Over 200 different instruments, including over 80 currency pairs, are available to trade at Alchemy Markets. Below, we’ve summarized all of Alchemy Markets’s several types of instruments, as well as the instruments given by IG and XTB for comparison.

FX / CurrenciesAlchemy MarketsIGXTB
# of forex pairs offered80+9048
Major forex pairsYesYesYes
Minor forex pairsYesYesYes
Exotic forex pairsYesYesYes
Cryptocurrencies*YesYesYes
Commodity CFDsAlchemy MarketsIGXTB
# of commodities offered103421
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalNoYesYes
Index & Stock CFDsAlchemy MarketsIGXTB
# of stocks offered20+80001606
UK sharesYesYesYes
US sharesYesYesYes
German sharesNoYesYes
Japanese sharesNoYesYes
SEE Alchemy Markets’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit Alchemy Markets

What’s the Alchemy Markets trading experience like?

1) Platforms and apps

The popular MT4 forex trading software is available from Alchemy Markets. See our MT4 broker comparison for a list of the best MT4 brokers. Traders can trade on their preferred device thanks to a combination of downloadable programs for Mac and Windows.

They offer Android and iOS mobile apps, making it easy to keep track of and execute deals while on the go.

SEE Alchemy Markets’S PLATFORMS

Still not sure?

Open a demo account and learn how to trade.

2) Executing Trades

You can trade as little as 0.01 Lot with Alchemy Markets. Depending on the account you open, this may differ. Maximum trade size depends on the account type. You can expect tighter spreads and more transparency over the amount you pay to execute your trades because Alchemy Markets offers STP execution.

Alchemy Markets, as a market maker, may have lower entrance criteria than an ECN broker, which benefits from the bigger number of trades and often has higher capital and minimum trading requirements.

Alchemy Markets is one of the few brokers who claim to have no requotes, which means you won’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

Market makers usually offer a lower minimum deposit, fewer minimum trade requirements, and zero commission trading.

Margin requirements vary by trader, account, and instrument, as they do with most brokers. On their website, you may see the most recent margin and leverage details.

We have included a list of some of the most common funding options that Alchemy Markets provides to its traders.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP

Accounts offered:

  • Myfxbook autotrade
  • Demo account
  • Classic account
  • Premier account
  • VIP account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Neteller
  • Skrill

3) Client support

Alchemy Markets offers support in languages like English.

4) What you’ll need to open an account with Alchemy Markets

Because Alchemy Markets is regulated by the Financial Conduct Authority, every new client must pass a few simple compliance tests to confirm that you are aware of the risks associated with trading and that you are permitted to trade. You’ll probably be asked for the following information when you register an account:

  • a color copy of your passport, driver’s license, or other government-issued identification
  • a three-month utility bill, bank or credit card statement that shows your current address

You’ll also need to answer a few questions regarding your trading experience, so set aside at least 10 minutes to finish the account opening procedure.

You may be able to explore their platform right away, but you will not be allowed to make any transactions until you pass verification, which depending on the circumstances could take from a few hours up to a few days.

To begin the onboarding process with Alchemy Markets, you can go to their website.

Alchemy Markets

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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