Alchemy Markets was founded in 2017 and is a multi-asset broker that offers CFD trading on forex, stocks, commodities, ETFs, and crypto markets. These are only a few of the 10+ asset classes that Alchemy Markets users can trade from, but are they a legit broker? In this review, we’ll closely examine the pros and cons of trading with Alchemy Markets, and answer the question of whether or not they are a scam.
How Regulated Is Alchemy Markets?
Alchemy Markets is recognized as a legit broker by the Malta Financial Services Authority (MFSA), and the Seychelles Financial Services Authority (FSA).
Authorized and Regulated by MFSA
MFSA is a well-respected financial regulator based in Malta. They have a strict adherence to the Investment Services Act (under CAP.370 of the Laws of Malta). The MFSA also follows the same regulatory guidelines as other EU countries. Under the jurisdiction of MFSA, Alchemy Markets was also granted the freedom to offer its investment services to EEA countries (except Iceland).Alchemy Markets is registered in Malta with MFSA under the name: “Alchemy Markets Ltd”. They hold the company registration number C/56519, and licence number IS/56519.
Authorized and Regulated by FSA
Seychelles Financial Services Authority (FSA) is a financial regulator based in Seychelles. This regulator is known for prioritizing benefits for the brokers’ clients. Under FSA regulations, Alchemy Markets can provide higher leverage, affordable minimum deposits, and super-low commissions.Seychelles FSA is responsible for safeguarding user interests when they invest funds into regulated financial services, such as Alchemy Markets.Alchemy Markets is registered in Seychelles with the Registrar of Companies under the name: “Alchemy Global Limited”. They hold the company registration number SD136, and reference number 8429852-1.
Trading Conditions of Alchemy Markets
Alchemy Markets operates as a 100% STP (Straight-Through-Processing) broker, which means all trades are passed directly to liquidity providers without any dealer intervention.
Moreover, Alchemy Markets partners with over 20 tier-1 liquidity providers, such as major banks, non-banks, and cryptocurrency exchanges. It offers price feeds that consolidate the best market prices from these providers. This allows users to get the fairest market prices with fast execution and low spreads.At Alchemy Markets, users can sign up for an account, and then deposit funds to gain access to different tiers of benefits.
Standard, Classic, Premier Accounts
- Comes with tight institutional spreads.
- Zero commissions on FX, indices, and metals.
- Low commissions on stocks and cryptocurrencies.
- Minimum deposit: $100 / $1000 / $5000
VIP Account
- Comes with raw market feed spreads.
- Commissions only at $4 per lot RT (Round Turn).
- No commissions on trading indices.
- Minimum deposit starting at $50,000.
Are My Funds Safe with Alchemy Markets?
It is safe to deposit and withdraw funds with Alchemy Markets. As a regulated entity under MFSA and FSA, Alchemy Markets fully practices client protection, and will be accountable for all client deposits.
This includes complete segregation of client funds from operational funds, recovery of client funds in case of difficulties, lawful maintenance of cash reserves, and providing transparent risk disclosures to their users.
Types of Deposits and Withdrawals
Alchemy Markets offers 15+ deposit and withdrawal options from credit cards, debit, wire transfer, Skrill, Neteller and more.There is a robust number of options to deposit or withdraw funds with Alchemy Markets, making the broker highly flexible and convenient.
Benefits Overview
Alchemy Markets offers a wide array of benefits, with its institutional spreads and zero commissions for FX, index, and commodity traders being the most attractive.The broker also boasts lightning-fast execution speeds, as fast as less than 10ms, to help you get the most accurate entries and exits. This is thanks to its servers located in Equinix LD4, London – the leading data center in the world for FX transactions.
Platforms
- MT5
- FIX API
Tradable Markets
- Forex
- Indices
- Commodities
- Crypto
- Stocks
- ETF
- Energies
- Metals
- and more
Account Types
Standard, Classic, Premier Accounts
- Starts from minimum deposit $100
- Tight institutional spreads
- Zero commissions on FX, Indices, Metals
VIP Accounts
- Starts from minimum deposit $50,000
- Raw spreads on all tradable assets
- Commissions $4 per lot RT (Round Turn)
Leverage
- 500:1 Available for FX
- 100:1 Available for Indices
- 100:1 Available for Commodities
- 20:1 Available for Stocks
- 10:1 Available for Crypto
Liquidity
Partnered with 20+ Tier 1 Liquidity Providers
- Major banks
- Non-banks
- Cryptocurrency Exchanges
Execution Type
- 100% STP
- No Last Look execution
Execution Speeds
- ≤10 ms (Extremely fast, precise trading)
Copy trading
- Extensive copy trading support on Alchemy Markets
Additional Benefits
Access to Trading Central trading tools:
- Market Buzz
- Economic Calendar
- Technical Views
- Featured Ideas
Access to FXBlue tools:
- Economic Calendar
- Session Map
- Sentiment Trader
- Correlation Matrix
- Mini Terminal
- Alarm Manager
- Market Manager
- Tick Chart Trader
Account Types
Alchemy Markets offer a demo and live trading account for users. Demo accounts can be opened for free, with access to trading tools from Trading Central and FXBlue. These tools are designed to help traders find active opportunities in the market, and enhance their trading decisions, giving them a better edge. Notable tools include:
- Economic Calendar: Provides a clear view of upcoming macroeconomic events.
- Technical Views: Provides real-time analyst insights, such as technical levels, support & resistances, chart patterns, and trade ideas.
- Sentiment Trader: Shows the percentage of traders taking long or short positions.
- Correlation Matrix: Provides insights into the correlations between trading pairs.
- Mini Terminal: A quality-of-life upgrade to MT5, helping you set stops and orders.
The minimum deposit for opening a live trading account is $100, which would open the Standard Account. Users with this account can enjoy trading with zero commissions on FX, indices, and metals with Alchemy Markets*. Upgraded tier accounts include the Classic, Premier, and VIP, which either enjoy lower commissions or
Verdict on Alchemy Markets
Alchemy Markets is verified as a legitimate broker by the Malta Financial Services Authority (MFSA) and the Seychelles Financial Services Authority (FSA). Their regulatory compliance with MFSA and FSA, coupled with a broad offering in financial markets, underscores their legitimacy and commitment to providing a secure trading environment.
Pros
- Fully licensed and regulated broker
- Trade across 10+ asset classes
- Leverage up to 500:1
- Zero commissions on FX, Indices, Metals
- Zero spreads in VIP account (Raw spreads)
- Extremely fast STP execution speeds (≤ 10 ms)
Cons
- $100 is not the lowest minimum deposit you can get on the market
- Only 60 Crypto CFDs available
- CFD Trading Only
Disclaimer:
- All instruments offered by Alchemy Markets are traded in the form of derivatives as CFDs.
- Their demo account provides a realistic trading environment that holds key differences from live trading conditions. Demo traders access demo liquidity, and trades made are not subject to slippage, interest, dividend adjustments, and more. Traders should ensure they are aware of these differences and can find more information regarding account features in their ‘Documents’ tab at the bottom of the page.
- They offer commission-free trading on Forex, Indices, and Metals for Standard, Classic and Premier accounts only. For information on their charges on other account types and products including Crypto CFDs and Stock CFDs, you can visit their product pages and product sheets.
