Established in 1998, Alpari is an old brand in the retail Forex industry and one of the early pioneers in providing the MT4 and MT5 trading platforms. Alpari is a group of companies operating in several offshore countries and has offices in major financial centers in the world, including the UK. The broker offers Forex and CFDs on indices, precious metals, commodities, and Cryptocurrencies.
Pros
Cons
· Alpari has more than 20 years of history in the retail Forex industry.
· It keeps clients’ funds in a segregated bank and uses some of the biggest banking brands for it.
· The broker offers a wide selection of trading accounts, so clients can select the type that suits them. At $1 minimum deposit for the nano accounts, low-budget traders can access the market.
· It offers ECN accounts, and traders have the opportunity of using huge leverage — up to 1:1000.
· It provides the full suite of MT4 and MT5 trading platforms, across desktop, web and mobile devices.
· Clients have access to copy-trading tools.
· Alpari runs a well-organized PAMM account and investment programme.
· It offers plenty of bonuses, including 30% welcome bonus and cashback loyalty bonus points
· Alpari offers different trade-able assets, including Forex, indices, commodities, stocks, and Cryptocurrencies.
· It is a member of The Financial Commission, an international dispute resolution organization.
· Alpari is not authorized or regulated by any of tier 1 (such as the FCA, CFTC, and ASIC) or even tier-2 (CySEC or FSCA) financial regulators. It is regulated by the FSC in Mauritius and the FSA in Saint Vincent and the Grenadines, which are poorly trusted, tier-3 financial regulators.
· It has limited educational resources.
· It has less research content in English than in Russia.
· Some of its clients are not happy with the unnecessary hiccups during withdrawals.
Overall Ranking
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Extended Review and Information
Alpari’s history dates back to 1998, and the brand has continued to prosper despite the bankruptcy of one of its biggest entities, Alpari UK, in 2015. While the insolvency led to losing their National Futures Association (NFA) membership and the ability to serve U.S. clients, it didn’t affect the operations of their other companies, such as Alpari Limited and Alpari International.
The broker offers trading in more than 250 markets through spot markets, CFDs, and futures, across many asset classes, such as Forex, indices, commodities, stocks, and Cryptocurrencies.
How to Open your Account
Opening an account with Alpari is very easy. Just click on the register tab and fill in the information requested on the registration page. You will be given a login number, which you will be using to access your Alpari account. Once you log in, you can create a live account or a demo account.
There are five account types you can open with Alpari — Nano MT4 account, Standard MT4/MT5 account, ECN MT4 account, Pro ECN MT4 account, and ECN MT5 account. It is, however, advisable to open a demo account and practice before opening a live account. You can practice on the demo account for as long as you want provided it doesn’t stay dormant for up to two weeks.
Trading Instruments Available
Depending on your type of account and the trading platform, you can trade a wide range of assets, including Forex, stocks, indices, precious metals, and Cryptocurrencies. But whatever the account type, you can trade any of the currency pairs the broker offers.
Deposits and Withdrawal Methods
There are a wide variety of methods you can use to fund your Alpari account. Some of the common funding options include Mastercard, Neteller, Webmoney, China Union Pay, Fasapay, Bitpay, Litecoin, and bank wire transfer. The various methods attract different fees.
Withdrawal can be done via the same methods. It is important to know that you can only withdraw your funds through the same means you used when depositing. Trying to withdraw through another means may cause some delay.
Interface
Alpari does not have a proprietary platform, but it provides the full suite of MT4 and MT5 trading platforms for desktop and web applications. These platforms are the most commonly used third-party trading platforms, and they are very easy to use. In addition, the broker also made the mobile apps available for both iOS and Android devices.
Education and Research
On the Alpari International website, you can see the ‘Learn to Trade’ tab. Clicking on it takes you to articles on beginners’ guide to trading and Forex trading strategies. While these articles may be very helpful, this broker’s educational resources are very limited.
The broker has some research and analysis tools on the Alpari Limited website but none on the Alpari International website. We don’t know why it is like that. Also, there tends to be more research resources in the Russian language than English.
Commissions and Fees
Trading cost at Alpari comes in the form of commissions and spreads, and they vary according to the account type:
· Nano account has an average spread of 2 pips and no commission
· Standard MT4/MT5 account has an average of 1.0 pip and no commission
· ECN MT4 account has an average of 0.9 pip and no commission
· Pro ECN MT4 account has an average of 0.3 pip and 0.32-pip commission
· ECN MT5 account has an average of 0.3 pip and 0.32-pip commission
Customer Support
Alpari provides customer support via multiple channels, including email, phone lines and live chat, which can be done through Viber, Telegram, and Facebook Messenger. Interestingly, clients can communicate in different languages, such as English, Spanish, Portuguese, Chinese, and many others. This is an amazing service, accessibility is among the widest we have seen.
Awards
The broker has won a couple of awards over the years, and some of them include:
· The Most Innovative Broker in 2016, from FX Empire Awards
· The Most Reliable Broker in 2016, from FX Empire Awards
· Best Mobile Trading Experience 2017, from FX Empire Awards
Regulations and Jurisdictions
The Alpari brand is used by a group of companies that operate separately — and are regulated — in different offshore countries. There are two major entities — Alpari Limited and Alpari International.
Alpari Limited is authorized and regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, while Alpari International is licensed and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius.
Both the FSA and the FSC are tier-3 regulators, which carry low trust ratings, so the Alpari brand is poorly regulated. However, Alpari is a member of The Financial Commission, an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.
Conclusion
With over two decades of existence, Alpari is a very popular brand in the retail Forex market. While it offers competitive pricing, multiple bonuses, and low minimum deposit, Alpari is regulated by only tier-3 financial agencies, which rank low in trust rating. Furthermore, its educational resources are very limited.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. This does not constitute as investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results.