Alpari is a forex broker that is not new to the forex brokerage space as it has been around for about 22 years. It is a global brand with offices in different nations of the world and has about 2 million trader accounts.
Alpari is a versatile broker with a strong global presence. Read this review to know more about Alpari – its products, services, and features.
Overview and Background Information
Alpari was founded in 1998 and is a brand of the Alpari group of companies. The Alpari group of companies comprises multiple entities that use the Alpari brand. These entities are regulated in different emerging and offshore regulatory centers. The Alpari group of companies has offices in Russia, Ukraine, Belarus, Kazakhstan, and other countries.
Alpari offers its clients about 54 trading instruments including forex and CFDs on indices, commodities, cryptocurrencies, and precious metals.
Alpari is regulated by the International Financial Commission. All clients are protected by a compensation fund which is up to €20,000. Alpari International Limited, a member of the Alpari group maintains licenses with Belize’s Financial Services Commission (FSC), and the Financial Services Authority (FSA) of St. Vincent and the Grenadines under the same entity name (Alpari Limited) which is a member of the Financial Commission, a Hong Kong-based EDR for forex.
You can read more about the Financial Commission here.
Deposits and Withdrawals
Different deposit and withdrawal options for Alpari include bank wire transfers, bank cards, and eWallets.
Alpari only offers MetaTrader platforms for trading. There are different accounts based on the platform (MT4 or MT5) of choice.
The MetaTrader platforms are powerful trading platforms with in-built analysis tools such as trendlines, Gann lines, and other powerful indicators. Personal indicators coded in the mql4 or mql5 language can also be used in the platform.
You can also use the MetaTrader mobile applications available on android and iOS for trading on your mobile devices.
To learn more about the MetaTrader platforms click here.
Alpari charges different commissions and spreads based on the type of account in question.
For the Standard MT5, PAMM Standard MT5, Standard MT4, and PAMM Standard MT4 accounts, the minimum spread in pips is 0.8/1 while the average spread in pips is 0.9/1.
For the ECN MT4, and PAMM ECN MT4 accounts, the minimum spread in pips is 0 while the average spread in pips is 0.5. For the Nano MT4 account, the minimum and average spread in pips is 2.
For the Pro ECN MT4, PAMM Pro ECN MT4, ECN MT5, and PAMM ECN MT5 accounts, the minimum spread is 0 pips while the average spread is 0.3 pips. In addition to the spread, these ECN accounts also come with commissions of about $32 per round-turn lot. This brings the total cost of these accounts to about 0.92 pips.
Alpari offers accounts with ECN execution. This affords clients access to the interbank market.
To learn more about ECN brokers click here.
Other accounts that are not executed through the Electronic Communications Network are processed through other routes.
Alpari offers customer support both in the form of online chat and phone calls. The customer support at Alpari is fantastic.
According to the statistics on their website, the average approval time is 26 minutes which is fast. Also, about 93.7% of their clients expressed satisfaction.
Alpari International offers different trading instruments for trading. They offer a total of 48 currency pairs and over 100 CFDs containing cryptocurrencies, commodities, and precious metals. Alpari also offers copy trading for investors who are willing to let others trade for them.
Types of accounts offered by Alpari include Standard MT5, PAMM Standard MT5, Standard MT4, PAMM Standard MT4, ECN MT4, PAMM ECN MT4, Nano MT4, Pro ECN MT4, PAMM Pro ECN MT4, ECN MT5, and PAMM ECN MT5.
All these account types are quoted to 5-decimal places. The minimum order size for lots of these accounts is 0.01 while the minimum order size change is also 0.01 lots. The maximum leverage for all the account types except the Nano MT4 is 1:1000. The maximum leverage allowed for the Nano MT4 account is 1:500.
Education and Research
Alpari offers an education section for its clients to enable them to learn about the forex market before trading. They also offer a forex analytics page that contains content such as news, economic calendar, and trading signals from third-party providers. Their analysts also post-market analysis on their daily blog updates.
Alpari has two promotions. The first is the cashback promotion in which you can get up to $5 for every trade. The maximum amount that can be obtained is $10,000. This promotion will run until 30th June 2020.
The second promotion is the refer-a-friend promotion.
Alpari might not be the best broker out there, they are definitely not a scam.
You can find out more about trading forex by reading our blog. You can also read broker reviews to guide you if you need to choose a new broker. For discussions with other traders with different brokers, visit our forum page on forex brokers. If you have had an encounter with the broker, feel free to share your experience with other traders over at the broker ratings and comments page. There, you can also read reviews of other traders.
Are you a beginner looking to learn forex from scratch? Or do you need to refresh your knowledge on forex? Check out free courses and quizzes on our courses page. Visit our store for forex materials such as books and other gadgets to make your trading experience easier. You can make use of free forex tools such as pip calculator, position size calculator, etc. at our tools page.