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Alpari is one of the biggest Forex intermediaries flaunting 2,000,000 brokers, twenty years of Forex involvement, and eight offices across three landmasses.
Alpari was set up 22 years ago in Russia and acquired its Financial Services Commission of Mauritius permit in 2014, through which they are authorized to operate in South Africa.
We like them because they are one of the biggest Forex brokers that have been operating for a long time and they provide a lot of valuable resources to the Forex trader.
What we don’t care for is that they were one of four other brokers who got into trouble with the Bank of Russia in 2019 and had its license cancelled in that nation, what’s more, they needed to close their UK arm down in 2015.
What is positive is they are directed by the FSC in Mauritius and can be held liable for any offence; they also hold client funds in segregated bank accounts.
Alpari likewise works with The Financial Commission, a global body that helps settle issues among customers and financial providers such as Forex brokers.
Alpari can be contacted for help by means of live chat and other communication mediums.
Customers of Alpari can also trade in the UK and Europe through another broker they are affiliated with within those regions.
Alpari offers a great trading platform with tight spreads and has good reviews from a broad customer base of experienced and beginner Forex traders.
Overview of Alpari
| Time to open an account | 30 minutes average time to approve |
| Bonus | Up to $10 000 cashback |
| Publicly traded – listed on the stock exchange | No |
| Country of regulation | FSC Mauritius
Operates in the UK, Europe, Emirates, Asia, Nigeria and South Africa |
| Trust score | 69/99 |
| Platforms | MT4 and MT5 |
| Mobile App | Yes |
| Copy Trading | Yes |
| Islamic account | Yes |
| Demo account | Yes |
| Base currencies | ZAR, USD, EUR, GBP, NGN |
| Ave spread EUR/USD | Min 0.1 |
| Leverage | Up to 3000:1 |
| Trading fees (low, average, high) | Low |
| Minimum deposit | $1 |
| Withdrawal fee | 0 |
| Currency pairs | 45+ |
| Cryptocurrency trading | Yes |
| Deposit with electronic wallet | Yes |
Alpari Pros and Cons
| ✔️Pros | ❌Cons |
| Fast order executions | MetaTrader only broker |
| ECN Accounts are provided | Not available in quite a few countries |
| Quick account opening | Russia and UK regulatory issues |
| No deposit fees | |
| Fast withdrawals | |
| EA robots | |
| Beginners & experienced traders find it easy to do business with Alpari | |
| Scalping allowed | |
Regulations
Notwithstanding the issues as expressed above, Alpari is viewed as a safe broker due to its regulation by the FSC, longevity in business, and all cash from client accounts are put in a segregated bank account.
Alpari claims 93.7% of their customers rate them highly and 94% of customer deposits in 2019 were executed in under five minutes.
What’s more, Alpari is transparent giving its Forex platform execution figures on their website specifying execution speeds, slippage graph and a low number of requotes.
We additionally like the way that Alpari is straightforward about its spreads, pip values, swaps and trading session times.
Since Alpari doesn’t offer negative balance protection or guaranteed stop-loss if you are a beginner Forex broker make sure to tread cautiously using risk management strategies wherever possible.
Leverage
Alpari provides a range of leverages which depends on the type of trading account from 1:25 up to 1:1000. Its Micro account leverages are fixed at 1:400 and ZAR pairs at 1:25.
We like the fact that this broker transparently outlines its leverage and margins clearly. It is always important to understand margins thoroughly to minimize your risk when trading.
Alpari does state in its terms that if you have a standard MT4 and Micro MT4 account they can change your leverage up to 100:1 on all Forex pairs and spot metals.
They can do so an hour before a trading session ends on Fridays. Before the commencement of the next trading session, leverage is then reset based on the total quantity of open positions on your account.
Alpari Account Types
You can choose from a range of accounts to trade with Standard, Micro, Pro, ECN and Demo accounts.
Each type of account varies in its margins and leverages, spreads, stop out, pricing and so forth.
Alpari Standard Account
Although Alpari’s standard account is suitable for all types of Forex traders, it is excellent for experienced traders as it has a great range of financial instruments over 80 in fact.
The standard account provides an easy-to-use trading platform with floating leverage of up to 1:1000.
| Currencies: | USD/EURGBP/NGN |
| Minimum deposit: | $/€/£ 500, ₦20 000 |
| Trading instruments: | 61 Majors, Minors, Exotics, RUB
14 Spot CFDs 5 Spot Metals |
However, we do not recommend taking advantage of high leverage if you are a beginner trader as it is very risky. You may multiply your profits, but you could multiply your losses too.
Alpari Micro Account
Alpari’s micro account is always shown as cents. So, if you deposit ten dollars it will show as 1000 cents in your Micro account.
| Currencies: | USD/EURGBP/NGN |
| Minimum deposit: | $/€/£ 5, ₦1 000 |
| Trading instruments: | 25 Majors, Minors
2 Spot Metals |
If you are wanting to practice your trading skills or are a beginner Forex trader, then a Micro account is perfect as you can fine-tune your trading strategies without investing large sums of cash.
Alpari Pro Account
The Alpari pro account is for the more experienced trader and offers lower spreads, faster execution speeds and greater liquidity.
| Currencies: | USD/EURGBP/NGN |
| Minimum deposit: | $/€/£ 25 000 |
| Trading instruments: | 54 Majors, Minors, Exotics
3 Spot Metals |
This account is made for professional traders, institutional traders and hedge fund managers, giving them everything they need to trade commission-free with no requotes.
Alpari ECN Account
Alpari’s Electronic Communication Network (ECN) is automated giving professional traders a direct connection to banks, brokers and liquidity providers to get the best ask and bid prices.
The fact that trading is fast and automated has made the ECN system popular. Also, its transparency means that orders go directly to other market participants without any middlemen.
| Currencies: | USD/EURGBP/NGN |
| Minimum deposit: | $/€/£ 500, ₦20 000 |
| Trading instruments: | MT4: 56 Majors, Minors, Exotics, RUB
3 Spot Metals 14 Spot CFDs 4 Cryptocurrencies MT5: 57 Majors, Minors, Exotics, RUB |
| 2 Spot Metals
13 Spot CFDs |
The ECN account provides extremely low to zero spreads during high market volatility periods and allows trades outside normal market hours and more.
The account’s No Deal Desk – NDD – technology means no re-quotes are given either.
Market Instruments
Alpari International offers 250+ financial instruments to trade with.
Fee Structure
On the Alpari Pro account, you will get institutional spreads provided that you maintain a minimum balance of 25,000 EUR/GBP/USD in your account.
What happens if your balance drops below the minimum balance? With an Alpari Pro account you will be notified in advance and the spread offering you were given reverts back to retail pricing until your account balance is topped up.
Alpari does not charge any deposit fees, and its commission fee depends on your account’s currency.
They provide floating spreads which can increase during the day based on the market conditions.
On a Standard MetaTrader 4 account, Spot Indices and Spot Commodities have a maximum volume per trade of 5 lots. The highest volume for all orders on Spot Indices is 15 lots and Spot Commodities is 50 lots.
When your Spot Indices positions remain open on the dividend date the following applies:
- If you are holding buy positions, your account is credited with the fixed dividend amount
- If you are holding sell positions, the dividend amount will be debited from your account
Commission on ECN MT4/MT5:
| Forex/Metals: | 3 USD/lot
2.6 EUR/lot 2.35 GBP/lot 1,095NGN/lot |
| Indices: | 7 USD/lot
6 EUR/lot 5.5 GBP/lot 2,555 NGN/lot |
| Commodities: | 4 USD/lot
3.5 EUR/lot 3.15 GBP/lot 1,460 NGN/lot |
| Cryptocurrencies: | 15 USD/lot
12.5 EUR/lot, 11.5 GBP/lot 5,400 NGN/lot. |
Deposits and Withdrawals
Funding and withdrawals from your Alpari trading account will be relatively fast and simple.
Alpari is always improving its financial deposit and withdrawal process to include a variety of payment and withdrawal methods.
It has a variety of deposit and withdrawal methods, including local deposits, credit cards, E-Wallets and bank wires.
Local deposits include:
- Fasapay
- Pakistani Local Transfers
- China Online Banking
Credit cards include:
- Visa
- Mastercard
- Maestro
E-Wallets include:
- Neteller
- Skrill
- Bitcoin
Bank wires include:
Bank Wire Transfer
Trading Platforms
Alpari International uses the popular MetaTrader 4 and MetaTrader 5 Forex trading platforms which are great to use on desktop, web or mobile. They are easy to use with a great variety of tools and charts.
You can download both platforms directly from Alpari.
If you are an advanced investor and trade with higher volumes, you can use Alpari International Direct as it has enhanced features for the Pro.
When you are deciding on the platform to choose, consider your trading experience: MT4 is a simpler format ideal for beginners, whereas MT5 is more advanced for the Pro trader.
MetaTrader 4
MetaTrader 4 is very easy to use and has access to all major trading instruments and is perfect for new Forex traders. MetaTrader 5 is the latest updated version, is more advanced with state-of-the-art features.
MT4 provides support for multi-currencies and language support. It also uses automated trading with expert advisors (EA).
MetaTrader 4 is compatible with:
- Desktop
- iPhone/iPad
- Android
- WebTrader
MetaTrader 5
Alpari provides the latest version of MetaTrader 5, which includes MQL5 trading signals, 21 timeframes, 38 technical indicators, 4 execution modes, as well as hedging, market depth and netting.
MetaTrader 5 is compatible with:
- Desktop
- iPhone/iPad
- Android
How to Open an Alpari Account
When opening an Alpari International new account you will find that it is pretty easy and quick.
You will be guided easily starting with registration right through to downloading your platform of choice and getting started.
Alpari’s demo account is also easy to use so you can try out Forex trading on the Alpari platform before committing your hard-earned cash.
Customer Support
Alpari International has a list of questions that you can easily find the answer to on their FAQ on the website.
If you do not find the answer to your query there, you can send a query via email or chat to Alpari International Live support by clicking on the button on the top of their web page.
They also have a contact page that gives you the direct contact details – email and telephone – for account openings, client support or any query you may have about deposit and withdrawals.
Please note, telephone numbers are not toll-free.
Educational Resources
Alpari International has a great variety of educational tools such as webinars and guides for the beginner Forex trader.
It is important to navigate these guides so that you can understand the risks when trading Forex.
Alpari has demo accounts for practising your Forex trading strategies, and with Zero-risk because you are not using real money.
The demo account at Alpari reflects the real market conditions so it provides a realistic trading environment to try out before moving to the real thing.
Alpari’s educational tools include:
- A beginner’s guide
- Forex trading webinars
- Forex trading strategies
- Community trading guide
Because Alpari has solid educational resources if you want to renew your trading skills or are just starting out, they are an excellent broker to consider.
Research Tools
On the Alpari platform, you will get access to information such as trading conditions and trading schedules, but they do not give a selection of in-depth research tools such as sentiment, charting and economic calendars.
The most important aspect of Forex trading when you are a beginner is to make sure that you completely understand the Foreign Exchange Market, which you can find easily available on the Alpari website.
Accolades
Alpari International has received some solid awards on the financial news site FX Empire including the most innovative; most reliable; and best mobile trading experience of 2017.
This was due to their great product line, transparency and excellent customer support.
Conclusion
Alpari International provides an excellent trading platform for Forex traders due to the favourable trading conditions, innovative technologies and wide variety of financial instruments.
If you are a beginner Forex trader then their resources will definitely give you an edge and knowledge to trade comfortably.
More experienced traders will definitely benefit from the advanced features on the MetaTrader 5 platform and Alpari International’s professional account type.
What we really like is their open display of performance statistics, fast processing on its platforms, as well as its competitive pricing.
Being regulated by the Financial Services Commission of the Republic of Mauritius provides a safe environment where you can trade with assurance and security.
Alpari International provides client support in nine different languages: English, Spanish, Chinese, Russian, Portuguese, Vietnamese, Indonesian, Arabic, and Farsi.
Considering its advanced platform conditions, its main drawback would be that Alpari International is not licensed to trade in the USA, Mauritius, Japan, Haiti, Suriname, the Democratic Republic of Korea, Russia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Armenia, Moldova, Tajikistan, Uzbekistan, Turkmenistan, Ukraine, Georgia, New Zealand and Canada.
