Legal Notice

The details expressed in this website and accompanying documents or transmissions are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade.

Alpha FX Limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site.

Alpha Group International is listed on the London Stock Exchange, and trades through its wholly owned subsidiary Alpha FX Limited (company registration number: 05108142).

Alpha FX Limited is authorised and regulated by the Financial Conduct Authority to provide regulated products and services (FCA Registration Number: 770377), authorised by the Financial Conduct Authority as an Authorised Electronic Money Institution (Registration Number: 900849).

Terms of UseTerms of Use
Email DisclaimerEmail Disclaimer
MiFID RTS 28 DisclosureMIFID RTS 28 Disclosure
MIFIDPRU 8 DisclosureMIFIDPRU 8 Disclosure
Order Execution PolicyOrder Execution Policy

Terms of Use

Last updated: 08/01/2018

This page (together with the documents referred to on it) tells you the terms of use (“Terms of Use”) on which you may make use of our website (which includes any microsites or subsections of this website which are hosted within our web environment) www.alphagroup.com (the “Website”). These Terms of Use also apply to your use of any electronic system or interface that we provide to you through our Website (the “Online Platform”). Please read these Terms of Use carefully before you start to use our Website. By using our Website including, without limitation, our Online Platform you indicate that you accept these Terms of Use and that you agree to abide by them. If you do not agree to these Terms of Use, please refrain from using our Website.

Information about us

www.alphagroup.com is a website operated by Alpha FX Ltd, (“we”, “us” or “our”). We are a private limited company, registered in the United Kingdom with company number 05108142. Our registered office is at Alpha FX Limited, Brunel Building, 2 Canalside Walk, London W2 1DG.

Alpha FX Limited is authorised and regulated by the Financial Conduct Authority to provide regulated products and services (FCA Registration Number: 770377) and authorised by the Financial Conduct Authority as an Authorised Electronic Money Institution (Registration Number: 900849). It is also registered with FINTRAC in Canada (Registration number: M18265420)

Other applicable terms

These Terms of Use refer to our Privacy Policy, which also applies to your use of our Website. By using our Website, you consent to the terms and conditions of our privacy policy and you warrant that all data provided by you is accurate.

Accessing our Website

Access to our Website is permitted on a temporary basis, and we reserve the right to withdraw or amend the service we provide on our Website without notice (see below). We do not guarantee that our Website, or any content on it, will always be available or be uninterrupted. We will not be liable if for any reason our Website is unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to our Website.

Subject to your compliance with these Terms of Use, we grant you permission to use our Website, provided that: (a) use of our Website is solely for your personal use, and you are not permitted to resell or charge others for use of or access to our Website, or to use our Website in any other manner inconsistent with these Terms of Use; (b) you will not duplicate, transfer, give access to, copy or distribute any part of our Website in any medium without our prior written authorisation; and (c) you will otherwise comply with the terms and conditions of these Terms of Use and our Privacy Policy.

If you are accessing our Website on behalf of an organisation, these Terms of Use will apply to and be binding on your organisation. You confirm that you have the requisite authority to bind your organisation to these Terms of Use.

If you are an individual you confirm that you are over 18 years of age and are fully competent to enter into and comply with these Terms of Use and our privacy policy.

Eligibility Criteria to become a client of Alpha FX

To become a client of Alpha FX (“Client”), you must meet our eligibility criteria.
If you meet our eligibility criteria you will be able to become a Client and use the services provided through our Website. As part of our on-boarding process we may carry out anti-money laundering checks on you.

Your Username and Password

When you become a Client, as part of our security procedures, you will choose, or be provided with, a user name and password. You must treat such information as confidential and must not disclose it to any third party.

When you use our services through our Website we will check your identity by asking for your user name and password. If the correct user name and password are provided, we will assume that you are the person giving instructions and making transactions. You will therefore be liable for such instructions and transactions.

We have the right to disable any user name or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms of Use.

If you know or suspect that anyone other than you knows your user name or password, you must promptly notify us at info@alphafx.co.uk.

We may refuse to act on any instruction that we believe:

was not submitted by you;
is not clear;
might cause us to breach a legal or other duty; or
suggests that our Website is being used for an illegal purpose or a purpose that is in breach of our regulatory obligations.

Our Website changes regularly

We aim to update our Website regularly, and (provided such changes do not adversely affect you) may change the content at any time without notice by posting such changes on our Website. If the need arises, we may suspend access to our Website, or close it indefinitely without notice. Any of the material on our Website may be out of date at any given time, and we are under no obligation to update such material. We do not guarantee that our Website, or any content on it, will be free from errors or omissions.

Termination of your Client account

Following our termination of your Client account, you will no longer be able to access our services through the Website. However, we will continue to maintain records regarding you to the extent that we are required by law to do so.

Our liability

Except as expressly stated in these Terms of Use, we do not give any representations, warranties or undertakings in relation to our Website.

You agree that the material downloaded or otherwise accessed through the use of our Website is obtained entirely at your own risk and that you will be entirely responsible for any resulting damage to software or computer systems and/or any resulting loss of data.

To the extent permitted by law, we, other members of our group of companies and third parties connected to us hereby expressly exclude our liability under or in connection with these Terms of Use and/or your use of our Website whether in contract, tort (including negligence) or otherwise. This does not apply to the types of loss set out below.

Nothing in these Terms of Use shall limit or exclude our liability for:

death or personal injury resulting from our negligence;
fraud or fraudulent misrepresentation; or
any other liability that cannot be excluded or limited by English law.

Intellectual property rights

We or our licensees are the owner or the licensee of all intellectual property rights in our Website, and in the material published on it. You must not use any part of the materials on our Website for commercial purposes without obtaining a licence to do so from us or our licensors.

The content on our Website is for your individual use and is not intended for distribution to or sharing with others. The information provided is tailored to you and may not therefore be applicable or useful to third parties. Under no circumstances are you to remove any copyright notices displayed on our Website.

Reliance on information posted

Commentary, information and other materials posted on our Website are not intended to amount to advice on which reliance should be placed. The material displayed on our Website is provided without any guarantees, conditions or warranties as to its accuracy. We therefore disclaim all liability and responsibility arising from any reliance placed on such materials by any visitor to our Website, or by anyone who may be informed of any of its contents.

Uploading content to our Website

Whenever you make use of a feature that allows you to upload content to our Website, or to make contact with other users of our Website, you must comply with the content standards which we upload to our Website from time to time.

You warrant that any such contribution complies with those standards, and you will be liable to us and indemnify us for any breach of this warranty.

Any content you upload to our Website will be considered non-confidential and non-proprietary, and we have the right to use, copy, distribute and disclose to third parties any such content for any purpose.

We also have the right to disclose your identity to any third party who claims that any content posted or uploaded by you to our Website constitutes a violation of their intellectual property rights, or of their right to privacy.

We will not be responsible, or liable to any third party, for the content or accuracy of any content posted by you or any other user of our Website.

We have the right to remove any posting you make on our Website if, in our opinion, your post does not comply with our content standards.

The views expressed by other users on our Website do not represent our views or values.

Viruses, hacking and other offences

In the event that you knowingly place viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful on to our Website, your right to use our Website will cease immediately.

We will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our Website or to your downloading of any material posted on it, or on any website linked to it.

Linking to and from our Website

You may link to our Website, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists. We reserve the right to withdraw linking permission without notice. The website in which you are linking must comply in all respects with the content standards which we upload to our Website from time to time.

Where our Website contains links to other websites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those websites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them.

Jurisdiction and applicable law

The English courts will have non-exclusive jurisdiction over any claim arising from, or related to, a visit to our Website, although we retain the right to bring proceedings against you for breach of these conditions in your country of residence or any other relevant country. These Terms of Use and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales.

Variations

We may revise these Terms of Use at any time by amending this page. You are expected to check this page from time to time to take notice of any changes we may have made as they are binding on you. Some of the provisions contained in these Terms of Use may also be superseded by provisions or notices published elsewhere on our Website.

Your concerns

If you have any concerns about material which appears on our Website, please contact us at info@alphafx.co.uk.

Third party rights

This agreement is between you and us. No other person shall have any rights to enforce any of its terms, whether under the Contracts (Rights of Third Parties) Act 1999 or otherwise.

Waiver

If we fail to insist that you perform any of your obligations under these Terms of Use, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations.

Email Disclaimer

The information in emails from Alpha FX and any files transmitted with it are confidential and may be legally privileged. The email and any files transmitted with it are intended solely for the addressee or entity to whom they are addressed. Access to the email by anyone else is unauthorised. If you are not the intended recipient, any disclosure, copying, distribution or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful.

Any opinions expressed in the email are those of the individual and not necessarily those of Alpha FX Limited. The email may contain specific market comment and indicative prices, this is for information purposes only and in no way constitutes advice to buy or sell. Alpha FX Limited accepts no responsibility for any actions taken by the recipient. No representation is made that this email or any attachments are free of viruses. Virus scanning is recommended and is the responsibility of the recipient.

If you receive an email or other communication purporting to be from Alpha FX which changes the details of any account of ours to which monies are to be sent, it is unlikely to be genuine. Please do not follow the instructions in the communication but instead contact us immediately at the telephone number or email address on our website.

MiFID RTS 28 Disclosure

1st January 2022 – 31st December 2022

Alpha Group considers the execution factors of price, costs, speed and likelihood of execution when assessing the quality of execution, Alpha Group only trades with Professional Clients and dependant on the client’s trading style, the products the client trades and the method of their trading, Alpha may consider using specific liquidity providers which are most suited to the client’s profile. This is set out in the Order Execution Policy as required by the European Unition Markets in Financial Instruments Directive 2014/65/EU.

Alpha FX Europe Limited trades on a matched principal basis with Alpha FX Limited. Alpha FX Europe Limited transacts with clients and an identical order is placed with Alpha FX Limited through a market counterparty.

Alpha FX Limited and Alpha Europe FX Limited are part of Alpha Group International PLC. There is no conflict of interest and no impact with respect to any execution venues used to execute orders. Alpha Group has no specific arrangement with any execution venues regarding payments made or received, discounts, rebates or non-monetary benefits received.

CLASS OF INSTRUMENT – CURRENCY DERIVATIVES – Alpha FX Limited
Notification if <1 average trade per business day in the previous year			Y
Top five execution venues ranked in trading volumes	Proportion of volume traded as a percentage of total in that class	Proportion of orders executed as percentage of total in that class	Percentage of passive orders	Percentage of aggressive orders	Percentage of directed orders
Barclays Bank PLC G5GSEF7VJP5I7OUK5573	59.20%	87.72%	n/a	n/a	0%
Nomura International PLC DGQCSV2PHVF71243539	23.83%	4.14%	n/a	n/a	0%
CITIGROUP INC. 6SHGI4ZSSLCXXQSBB395	11.79%	7.14%	n/a	n/a	0%
Lloyds Bank Corporate Markets PLC 213800MBWEIJDM5CU638	4.82%	0.50%	n/a	n/a	0%
Sucden Financial Limited 213800W2XOTEIWVRS823	0.35%	0.50%	n/a	n/a	0%

CLASS OF INSTRUMENT – CURRENCY DERIVATIVES – Alpha FX Europe Limited
Notification if <1 average trade per business day in the previous year			Y
Top five execution venues ranked in trading volumes	Proportion of volume traded as a percentage of total in that class	Proportion of orders executed as percentage of total in that class	Percentage of passive orders	Percentage of aggressive orders	Percentage of directed orders
Alpha FX Limited 213800S766I9BW9T7Y55	100%	100%	n/a	n/a	0%

Order Execution Policy

1. Introduction

Alpha FX Limited (“Alpha FX”, and “we”, “us” and “our” shall be construed accordingly) is required to take all reasonable steps to obtain the best possible result for its clients when executing orders. This is known as “best execution” and the general obligation to achieve this is referred to in this document as the “best execution requirement”.

We are required to establish and implement effective arrangements for complying with the best execution requirement, including establishing and implementing an order execution policy (an “Order Execution Policy”). This document sets out our Order Execution Policy. While this Order Execution Policy should be read in conjunction with our terms and conditions, it does not form part of any contract we may enter with a client and does not mean we owe any fiduciary or contractual responsibility over and above our regulatory obligations to any client.

Our aim is to adopt the principle of best execution across all of our services, and we aim to provide the best value and the best service to ensure that our clients’ best interests are always at the core of our services.

We reserve the right to amend this Order Execution Policy, including but not limited to where required to do so by applicable law or regulation. A copy of our current Order Execution Policy is available on request, and we will notify clients of any material changes to our execution arrangements or this Order Execution Policy.

2. Scope of Order Execution Policy

This Order Execution Policy applies where we execute an order in derivative financial instruments for a client. However, this Order Execution Policy does not apply where the client has been classed as an eligible counterparty.

Whilst we will endeavour to obtain the best possible result in carrying out each client order, this does not mean we have an obligation to obtain the best possible result for each individual order on a transaction-by-transaction basis. It does, however, mean that we are obliged to apply this Order Execution Policy to each order with a view to obtaining the best possible result.

3. Specific Instruments From Clients

Where a client has not provided any specific instructions in relation to execution, orders will be executed by us in accordance with this Order Execution Policy.

Where a client gives a specific instruction about an order, we must execute the order following that specific instruction. We will satisfy our best execution requirement to the extent that we execute an order, or a specific aspect or an order, following specific instructions from the client relating to the order or specific aspect of the order. If we execute an order following specific instructions from a client, we will have satisfied our best execution requirements only in respect of that part or aspect of the order to which client instructions relate. Our best execution requirements will still apply in respect of any other parts or aspects of the client order that are not covered by those instructions. We will not induce a client to instruct us to execute an order in a particular way if we ought reasonably to know that an instruction to that effect is likely to prevent us from achieving best execution.

Where a client gives a specific instruction about an order, that client will be warned that fulfilling such instructions may prevent us from taking the steps prescribed in this Order Execution Policy to obtain the best possible result. Generally, we feel it is inappropriate to accept specific instructions which are not in accordance with this Order Execution Policy and clients who give such instructions will be encouraged to review other options. We will provide clients with details of this Order Execution Policy and volunteer relevant information to clients to assist them in making an informed choice. We reserve the right to refuse specific instructions from clients. In the event that we accept a specific instruction from a client as to how they wish an order to be executed, we will record and follow those instructions. We will make a consideration of such instructions, but will deem that the client proceeds based on their own judgement.

4. Overview

We will take all reasonable steps to achieve best execution by:

• in all instances considering the execution factors and criteria set out in this Order Execution Policy to provide the best possible result;

• maintaining established dealing lines to enable us to provide competitive, expeditious and firm pricing; and

• directing orders to execution venues or to third parties that we consider will provide the best possible results on a consistent and reliable basis.

5. Execution Factors and Criteria

When executing orders, we must take into account the following execution factors: price, costs, speed, likelihood of execution and settlement, size, nature and any other consideration relevant to order execution. Such considerations include the availability of liquidity, the market impact of the order and, where relevant, the availability of appropriate credit lines.

In determining the relative importance of these factors we will take into account the following criteria: the characteristics of the client, including categorisation as a profes-sional client; the characteristics of the client order; the characteristics of the financial instrument that is the subject of that order; and the characteristics of the execution venues to which the order can be directed. We will exercise our discretion to determine which of these factors, or combination of them, will be relevant to achieve the best result.

Ordinarily, price will merit a high relative importance in obtaining the best possible result for clients. The next most importance factor is likely to be liquidity. However, in certain circumstances, for some client orders, financial instruments or markets, Alpha FX, in its absolute discretion, may decide that other factors may be more important in determining the best possible result in accordance with this Order Execution Policy.

6. Selection of Execution Venue

We will use our commercial judgement when selecting execution venues that we consider most likely to provide the best possible result on a consistent and reliable basis.

Where there is more than one execution venue that would enable us to obtain best execution on a consistent basis, we will consider the respective merits of these venues.

Before placing a client order with any chosen execution venue, we may refer to an independent pricing tool to ensure the results we obtain adhere to this Order Execution Policy. This process acts as a benchmarking measure so we may monitor our execution results on an ongoing basis. We do not discriminate between any venue or client when considering structure, speed, commissions, charges paid, or the direction of an order to any execution venue. However, we will take into account the effect of our own fees and commissions when choosing an execution venue.

7. Pricing and Margin

We will provide clients with a single “all-in” price only. The sales margin charged by us is determined taking into consideration a variety of factors, which may include but are not limited to:

• service level provided;

• the credit risk that we will take when transacting with client;

• the cost of capital we incur because of the transaction;

• volumes traded by the client; and

• liquidity of the relevant market place.

8. Aggregation

We may aggregate a client’s order(s) with those of other clients and will allocate such transactions on a fair and reasonable basis subject to the requirements of the FCA’s Handbook of Rules and Guidance. Clients acknowledge that aggregation may operate to their advantage or disadvantage.

9. Execution Outside of Regulated Markets

We may execute any orders outside a regulated market or a multilateral trading facility.

10. Client Disclosure

We must provide appropriate information in a comprehensible form about this Order Execution Policy to clients. We must disclose sufficient information to enable clients to make a properly informed decision about whether to use the services offered by us.

We should supply information to professional clients on request, provided the request is reasonable and proportionate (which will depend on the facts and circumstances of each particular situation).

As noted above, we must notify clients of any material changes to this Order Execution Policy. A material change is one where its disclosure is necessary to enable the client to make a properly informed decision about whether to continue to use our services. In particular, consideration should be given to the materiality of any changes made to the materiality of the importance of execution factors or to the venues on which we place significant reliance in meeting the best execution requirement, e.g. the merger of two execution venues. However, the requirement to notify clients about changes does not mean we are required to seek client consent to those changes. However, we must ensure that the notification mechanism is effective in drawing clients’ attention to the change.

We must be able to demonstrate to clients on request that we have executed their orders in accordance with this Order Execution Policy.

11. Client Consent

We must obtain the prior express consent of our clients to this Order Execution Policy.

12. Monitoring

We will monitor the effectiveness of our execution arrangements and this Order Execution Policy to identify, and, where appropriate, correct any deficiencies. We will as-sess, on a regular basis, whether the execution venues set out in section 6 above (Selection of Execution Venue) provides the best possible result for our clients or whether we need to make changes to our execution arrangements.

In particular, we will conduct an annual review of this Order Execution Policy and our execution arrangements. This review will include consideration of whether we could consistently obtain better execution results if we were to use additional or different execution venues set out in section 6 above (Selection of Execution Venue) assign a different importance to the execution factors set out in section 5 above (Execution Factors and Criteria), or modify any other aspects of this Order Execution Policy or arrangements or both.

We must also review our execution arrangements and this Order Execution Policy if a material change occurs that affects our ability to obtain the best possible results for the execution of client orders on a consistent basis using the venues set out in section 6 above (Selection of Execution Venue).

13. Execution Venues

– Barclays Bank PLC

– Lloyds Banking Group PLC

– Nomura International PLC

– Sucden Financial Limited

– Citi Group INC

MIFIDPRU 8 Disclosure

You can download a copy of our MIFIDPRU 8 Disclosure by clicking the link here.