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Alior Trader Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- PLN 1
- Alior 4 Trader (desktop)
- Alior 4 Trader Mobile
- Alior 4 Trader Web
- BFG
- KNF
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- PLN 1
- Alior 4 Trader (desktop)
- Alior 4 Trader Mobile
- Alior 4 Trader Web
- BFG
- KNF
Our Evaluation of Alior Trader
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Alior Trader is a broker with higher-than-average risk and the TU Overall Score of 3.55 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Alior Trader clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Alior Trader is a regulated ECN and STP broker for online derivatives trading in over-the-counter markets. It is suitable for active trading in CFDs, including those with leverage.
Brief Look at Alior Trader
Alior Trader is the brokerage division of the major Polish bank, Alior Bank SA, specializing in the Forex market and offering over 90 CFDs with leverage. The proprietary Alior 4 Trader platform is available on desktop, mobile, and browser-based web platforms. Alior Bank SA provides services under the supervision of the KNF (Komisja Nadzoru Finansowego), and client funds are protected by the BFG (Bankowy Fundusz Gwarancyjny) compensation scheme. Alior Trader accounts have negative balance protection, and the broker offers demo accounts, phone dealing services, and professional support for relevant inquiries.
- ECN (Electronic Communication Network) and STP (Straight Through Processing) technologies.
- High market capitalization and financial stability of the bank that manages Alior Trader.
- The main trading fee is a commission based on turnover, not a spread.
- Broker does not charge fees for opening or maintaining an account.
- Demo mode for trading platforms is available to test broker conditions without depositing real funds.
- Free deposit and withdrawal of funds with an account at Alior Bank.
- Reduction in broker commission with increasing trade volume.
- The variety of financial instruments is not as extensive as its competitors, as well as trading CFDs on stocks is not available, and the choice of cryptocurrencies is limited to ETH and BTC.
- The broker does not offer educational materials, bonuses, and investment solutions for Forex traders.
- The maximum leverage is 1:30.
TU Expert Advice
Financial expert and analyst at Traders Union
The TU team thoroughly assessed Alior Trader based on key criteria to determine its level of reliability and client orientation. Regulation and fund security are at the highest level, as the brand is managed by the major banking holding company, Alior Bank SA, with over 15 years of history and a market capitalization of PLN 9.8 billion (about 2.5 billion USD).
The bank goes beyond standard transfers and incorporates cutting-edge online payment technologies, allowing Alior Trader’s clients to deposit funds using contactless payment methods like Blik. This system is similar to Google Pay but has a crucial feature, that doesn't require a physical card since all transactions are directly processed from the personal bank account in zlotys.
Alior Trader offers over 90 CFDs, with nearly 50 being currency pairs. Since 2022, the broker has allowed trading CFDs on cryptocurrencies, although the selection is limited to Bitcoin and Ethereum. The Alior 4 Trader trading platforms are quite functional, enabling trading directly from charts, placing Market, Limit, Stop, Trailing Stop, OCO (One-Cancels-the-Other) orders, and using over 50 built-in indicators. However, there are no tools for automated trading as the platforms are designed exclusively for active traders.
Alior Trader Summary
Your capital is at risk. Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. Alior Trader and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
| 💻 Trading platform: | Alior 4 Trader (desktop), Alior 4 Trader Mobile, Alior 4 Trader Web |
|---|---|
| 📊 Accounts: | Demo, Real |
| 💰 Account currency: | PLN, EUR, USD |
| 💵 Replenishment / Withdrawal: | Mobile banking through Alior Mobile and Alior Online applications, Blik contactless payments, and cash deposits at any Alior Bank branch |
| 🚀 Minimum deposit: | PLN 1 / EUR 1 / USD 1 |
| ⚖️ Leverage: | Up to 1:30 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0.1 pips |
| 🔧 Instruments: | CFDs on currency pairs, commodities, indices, metals, cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Leading investment companies |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market |
| ⭐ Trading features: | Near-zero spreads without broker's surcharge + commission on turnover, any strategy, and active trading styles are allowed |
| 🎁 Contests and bonuses: | No |
On the Alior Trader's Alior 4 Trader platforms, you can trade 91 CFDs. This includes 49 currency pairs, 9 commodities, gold, silver, and palladium. Additionally, there are 28 stock indices available, including WIG 20, which is an index including the 20 largest capitalization companies in Poland whose shares are traded on the Warsaw Stock Exchange. The choice of cryptocurrencies is limited to CFDs on BTC and ETH paired with the USD. A single client can have up to 3 accounts, one in each of the available currencies.
Alior Trader Key Parameters Evaluation
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Trading Account Opening
To gain access to the user account on the Alior Trader website, go through the registration process, consisting of several stages outlined below.
For the registration form to appear on the screen, click on the button to open a trading account. It is located in the upper right corner of the official website of Alior Bank.
Fill in the required details in the form, including personal information, preferred trading instruments, residential address, bank account number, and PESEL number. It is also required to confirm the information provided with documents that can be uploaded as scanned copies or bring the originals to the brokerage office.
The company will verify the information provided in the form and will only open an account if the details are found to be accurate. The login and password for access will be sent to the new client via email. The system-generated password can be changed later. To start trading, installing the trading platform or using the web platform is necessary, followed by making a deposit.
Regulation and safety
Alior Trader is a part of Alior Bank SA, which operates under the supervision of the Polish state financial regulator, the Komisja Nadzoru Finansowego (KNF). Alior Bank SA is among the top ten largest financial groups in Poland and has been operating since 2008, indicating its stability and trustworthiness among clients.
All funds deposited in Alior Bank accounts fall under the protection scheme of the Bankowy Fundusz Gwarancyjny (BFG). In the event of KNF recognizing that the bank has suspended its operations, compensation is paid to its clients from the BFG fund within 7 days. The maximum amount per person is the equivalent of EUR 100,000 in Polish zlotys.
Advantages
- In case of insolvency of Alior Trader, clients can directly contact BFG
- Alior Bank SA ensures a high level of reliability for deposits and investments
- Retail client accounts are protected from a negative balance
Disadvantages
- The leverage does not exceed 1:30.
- The broker does not work with electronic wallets or cryptocurrency wallets.
- Opening a trading account is done through the bank, so the procedure may take some time.
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Real | From $1,5 | PLN 0-50 depending on the withdrawal method |
For positions open after 23:00 (CET), swap points (for currencies) or financing rates (for other CFDs) are charged or deducted. This process is also known as Rollover or Overnight financing.
Trading commissions significantly affect the total costs of a trader, so comparing Alior Trader's fees with its competitors' fees has become a mandatory step when forming a profile of this broker on the TU website.
| Broker | Average commission | Level |
|---|---|---|
|
$1.5 | |
|
$1 | |
|
$8.5 |
Account types
Alior Trader offers a single account type for retail traders but in different currencies. Any amount sufficient to meet margin requirements and pay the broker's fee can be credited to the account. As the trading volume increases, the transaction fee decreases, providing active experienced traders with access to more favorable conditions.
Account Types:
Additionally, Alior Trader offers a demo account. Traders use virtual funds provided by the broker to trade in real market conditions. The demo account is valid for 30 days from the opening date.
Alior Trader is a broker with proprietary platforms designed for in-depth market analysis and trading derivative instruments in financial markets.
Deposit and Withdrawal
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If a client requests a withdrawal to their account at Alior Bank using Alior Online internet banking or the Alior mobile application, no commission is charged. The commission for withdrawals to accounts in other Polish banks ranges from PLN 0 to PLN 6.
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International transfers are subject to the tariffs of Alior Bank and the recipient bank of the payment. The commission amount depends on the channel and transaction mode (standard, urgent, or express).
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After submitting a withdrawal request, the applicant receives an SMS code on their phone for confirmation.
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Funds are credited to the client's account within 1-5 business days, depending on the receiving bank and the transfer type.
Investment Options
Alior Trader is a broker designed for active CFD trading. The platforms it offers do not support algorithmic trading, and there is no option to automatically copy other traders' transactions. To generate investment income, Alior Trader clients can use programs offered by the parent bank, Alior Bank. These programs include investments in investment funds, trading on stock exchanges, and depositing funds into medium- and long-term savings and pension accounts.
Clients familiar with the principles of calculating swap commissions can earn through carry trading. This Forex trading strategy involves holding positions in the market for an extended period. In Forex trading, the difference in interest rates between two currencies is crucial. If the interest rate of the held currency is higher than the interest rate of the currency being borrowed, the trader profits from this difference. However, if the interest rate of the base currency is lower, the trader may incur losses while holding the position.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Alior Trader affiliate program:
Alior Trader's affiliate program does not provide compensation for attracting new users to its brokerage services. However, recommending Alior Bank's banking services to individuals can result in more favorable conditions for a savings account, offering an annual interest rate of 1.0% for a 3-month term. If the referred participant meets the requirements for using a debit card and deposits at least PLN 1,000,000, they will also receive a promotional annual interest rate.
Customer support
The broker’s clients can call the hotline for assistance with relevant inquiries. It is available from 23:00 on Sunday to 23:00 on Friday (GMT+1). The website's chatbot provides traders with essential information about trading conditions and services 24/7.
Advantages
- All forms of available support are in Polish
- Chatbot is available on the website
Disadvantages
- A fee may be charged for a phone call according to the phone operator's price list
- Slow response speed via email
Alior Trader’s communication methods are:
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Through the hotline.
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Through email.
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In the Alior Bank mobile banking apps.
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Via the Alior Bank internet banking channel.
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By using the feedback form.
Traders who are not registered at the broker can call the phone numbers listed on the broker's website or send their questions via email.
Contacts
| Registration address | Biuro Maklerskie Alior Bank S.A., ul. Łopuszańska 38D, 02-232 Warszawa, Polska |
|---|---|
| Regulation | BFG, KNF |
| Official site | https://trader.aliorbank.pl/ |
| Contacts |
Education
The business strategy of Alior Trader does not include providing traders with education on trading financial instruments. The broker focuses not on creating educational materials and courses but on ensuring a quality trading infrastructure. A minimum amount of educational information is available in the Materiały pomocnicze (Supporting materials) section of the website.
An effective tool that allows beginners to familiarize themselves with trading in financial markets, understand the functionality of the trading platform, and develop or test ready-made strategies is a demo account.
Comparison of Alior Trader with other Brokers
| Alior Trader | RoboForex | Pocket Option | Exness | Eightcap | Tickmill | |
| Trading platform |
Alior 4 Trader (desktop), Alior 4 Trader Mobile, Alior 4 Trader Web | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | MT4, MT5, Tickmill Mobile App |
| Min deposit | $1 | $10 | $5 | $10 | $100 | $100 |
| Leverage |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.1 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 80% / 50% | 100% / 30% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | $30 |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of Alior Trader
Alior Bank, which oversees the trading brand Alior Trader, was one of the first in Poland to introduce over-the-counter trading using ECN technology. All client orders are executed using the STP (Straight Through Processing) model, meaning they are directly transmitted to liquidity providers, which are leading investment companies. The Alior Trader platform offers a demo mode, allowing potential clients to assess the broker's performance with virtual funds.
Alior Trader by the numbers:
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The parent bank has been operating for over 15 years with more than 170 branches.
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Trading is available in 91 CFDs.
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Proprietary platforms support 5 order types.
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Compensation per client can reach up to EUR 100,000.
Alior Trader is a broker designed for active derivative trading with leverage compliant with the European regulator ESMA (European Securities and Markets Authority)
When executing a trade on the Alior Trader platform, clients buy/sell derivatives. A derivative is an instrument whose prices are tied to the prices of underlying assets. The minimum order size is 0.02 lots for opening orders and 0.01 lots for closing orders. The maximum trading leverage on the Alior Trader account is 1:30. The financial leverage mechanism allows for significant profits relative to the invested capital but also significantly increases the risk of its loss. To mitigate this, all retail client accounts have a negative balance protection.
Traders can trade on desktop platforms, mobile apps, or web platforms such as Alior 4 Trader. If there are issues with the software or a trader cannot use it to manage orders, they can call the broker and give instructions verbally. The cost of this service is PLN 50 per order.
Alior Trader’s analytical services:
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CFD rollover calendar. An instrument that provides information about upcoming rollover dates for CFD contracts.
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Economic calendar. Broadcasts upcoming economic events and indicators that can impact financial markets, such as employment reports, inflation data, central bank decisions, etc.
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Forex Market Data. The Serwis inwestycyjny (Investment website) section of the site provides key information on currency pairs, real-time quotes, percentage price changes, and historical data charts for the last 5 years.
Advantages:
Currency spreads are from 0.1 pips and a fixed trading commission starting at 0.0040% of the transaction value.
Implementation of advanced data and fund protection methods, including SSL encryption, two-factor account authentication, and biometric authentication in mobile apps.
Market analysis using 6 indicator types and 27 drawing elements embedded in the trading platform.
Retail accounts cannot go into negative balance, thanks to negative balance protection.
Trading can start with any amount as Alior Trader has no requirements for the initial deposit amount.
The broker does not prohibit the use of any strategies and does not set a minimum or maximum holding period for open positions.
User Satisfaction