Alpari is without a doubt one of the oldest online FX/CFD operators. Launched way back in 1998, as a small trading outfit meant to serve small time traders, it evolved into the global entity that it is today, through a process often fraught with wrong turns and less than savory trader feedback.
The problem with the operation is that its reputation among actual users is not exactly a stellar one. As mentioned, Alpari is a global operation and it is present in several countries using different websites. Exactly which part of the brokerage most complaints refer to, is unclear.
That does not look good on the resume of any broker. Having acknowledged that, there is certainly something to be said about the persistence with which Alpari support personnel try to address and to sort out all issues brought up by traders.
Alpari is a regulated broker. That said, its overall regulatory picture is less than impressive. Though it uses credit card processors based in the UK and Cyprus, it is not regulated in any of the major financial hubs.
The company that owns the Alpari International brand is Exinity Limited, which is based in the Republic of Mauritius, its exact address being 11th Floor, Maeva Tower, Silicon Avenue, Cybercity, Ebene, 72201.
Interestingly, despite being regulated and licensed by the local FSC (Financial Services Committee), the broker does not offer financial services within its home country.
Its FSC license number is C113012295.
What exactly does it mean to be licensed by Mauritius’ FSC? Financial operators who become FSC members gain access to a top-notch dispute settlement system, as well as an investor compensation fund. Through this fund, local authorities can cover damages of up to EUR 20,000 per individual trader.
It is not clear under what regulatory framework Alpari works in the EEA, but with the exception of Belgium and France, its services are available throughout the area.
Other countries from which the broker does not accept traders are the US, Japan, and a handful of other nations such as North Korea, Tajikistan etc.
Alpari seems to be focused on Nigeria. It has even made NGN base currency accounts available for local traders.
What is the main selling point of the broker, and why should a rank-and-file trader find it an attractive option?
Alpari’s trading conditions are decent. The deposits on its most accessible account type start from USD/EUR 5. The available leverages are great, as are the spreads and the margin requirements.
In addition to that, the operation supports not one, but two world-class trading platforms: MT4 and MT5. The virtues of the MetaQuotes software suite are well-known across the trading world.
Over the long decades of its existence, the broker has had plenty of time to expand and to grow. It maintains offices in 8 different countries on 3 continents and it currently serves some 2 million clients.
Its market coverage is very impressive as well: more than 250 assets can be traded, among them the most popular cryptocurrencies.
The official Alpari website says that besides CFD-based crypto trading, actual trading is available through the broker as well. It is doubtful however that one can actually purchase cryptos from Alpari.
Alpari Account Types
The broker offers a superb Demo account, through which traders can access all supported trading platforms.
Those who feel they’re ready to take the game to a slightly more serious level, will love the Micro Account.
Available in USD, EUR, GBP and NGN, this account requires a deposit of just 5 EUR/USD/GBP, or 1,000 NGN.
The spreads are quite adverse on this account option: they start from 1.7 pips, but no commissions are charged.
The maximum leverage is 1:400, and the margin call is 50% – not exactly forgiving.
One step up from this account, the Standard Account offers a much better deal. The minimum required deposit is just USD/EUR 100. This account is commission-free too, and like the Micro Account, it features what the broker calls “instant execution”.
Spreads here start from 1.2 pips, the margin call is 60% and the maximum available leverage is 1:1,000.
Traders who are serious, will find the ECN Account (available on MT4 as well as MT5) much more attractive.
The execution featured by this account is Market Execution. The lowest spreads start from 0.4 pips.
The margin call is 100%, and there is a commission of $1.5 per lot per side involved.
A swap free version is available for the ECN Account, though only on the MT4 platform.
The top account type is the Pro Account, which ups the stakes significantly in every regard.
Spreads start from 0.4 pips on this account too, with margin calls set to 120%.
The maximum available leverage is 1:300. This account type is available in a swap free version too (only on MT4).
Alpari Trading Platforms
As said, Alpari features MT4 and MT5. Both platforms are available in several versions, covering Desktop, Web Trading as well as iOS and Android mobile devices.
MT4 – the more popular of the two – brings its well-known charting and technical analysis capabilities to bear. Alpari apparently also supports EA-based trading, though it is unclear whether it offers a VPS service to go with it.
MT5 is a nice addition to the lineup. Though less endowed in regards to technical analysis and charting, it features 4 order execution types, market depth, hedging as well as MQL trading signals.
The platform also offers some 21 time frames and it comes with 38 preinstalled technical indicators.
Both platforms can be downloaded for free, from the Alpari.org website.
The FX pair selection offered by Alpari is very impressive. Scores of majors, minors and exotics can be traded, in addition to a couple of RUB pairs.
The spot metals section covers Gold and Silver, while the commodities include oil and natural gas.
Stock trading is quite limited however, and there is a single US stock available in the CFD section.
As far as crypto goes, BTC, ETH, LTC and XRP are paired with the USD only.
The only promotion currently run by the broker is the loyalty cashback deal. Traders are required to sign up separately for the cash back programme. Once registered, they will pick up real money rewards, based on the trading volumes they generate.
Alpari International Support
Alpari support can be contacted through live chat (through the website), email and phone. The client support phone number is +442 080 896 850. The support email is [email protected]
Alpari International Conclusion
Everything taken into account, Alpari shapes up as a decent trading destination. It may even present some interest for traders looking to gain exposure to the price volatility of various digital assets.
That said, its reputation is not great, and its regulatory standing could be more trust-inspiring as well.
Its trading platforms are good however, as are the trading conditions on most of its account types.
The EUR/USD 5 minimum deposit on the Micro Account should earn some praise too.Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.