Alfa-Forex, an EU-regulated forex broker, said it has reduced the spread on oil contracts for difference (CFDs) by 25% to 5 pips. The broker offers for trading Brent and WTI oil.
Spread is the difference between the bid and ask price. Lower spread means traders will pay lower trading costs. Such costs consist of three components – commission, spread, and leverage.
In addition to oil CFDs, the broker’s product portfolio also includes forex, precious metals, and CFDs on forex, stocks, indices, commodities, metals, natural resources, and energy.
Alfa-Forex offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for mobile devices, as well as for desktop and web browsers. In addition it supports copy trading platform ZuluTrade.
Alfa-Forex is a brand of Cyprus-based Alfa Capital Holdings, which is part of Alfa-Bank Banking Group. The broker is focused on the markets of the EU, Russia and the Commonwealth of Independent States (CIS), or the former Soviet countries.