Founded in 1998, Alpari is an international broker operating under the brand name of Exinity Limited. With 08 regional offices across three continents, the broker serves more than 02 million registered users all around the globe. Regulated by FSC, the company is headquartered in Mauritius. Specialist in forex and CFDs, the broker offers margin-based trading services in more than 250 financial instruments. Apart from the availability of multiple types of trading accounts, the company has a quick signing-up process with low deposit requirements. User-friendly trading platforms with advanced risk management tools help traders find maximum trading opportunities with full confidence. The broker also offers a diverse range of payment options with efficient customer support round the clock. Today, we bring a complete Alpari review to help traders make an informed decision before opening an account with it.
Apart from holding FSC regulations in Mauritius, the broker does not hold any license elsewhere in the world. However, the broker is also a registered member of the Financial Commission of Hong Kong. Listed below are the concerned authorities;
- Financial Services Commission – Mauritius
- Financial Commission – Hong Kong
Opening Alpari Trading Account
Meeting the requirements of both retail and institutional investors, the broker ensures to offer traders a diversified trading exposure with its four types of accounts. Given below is the list of accounts available at Alpari.
- FX Standard
- FX Micro
- ECN Standard
- ECN pro
Let’s have a quick look at the services offered in each type of account.
FX Standard: With a minimum deposit of $100, the FX Standard account comes with high leverage and competitive spreads. The broker offers 5 decimal pricing on all FX pairs excluding the JPY pairs. Clients can experience instant trade execution without having to worry about any commission charges. The swap-free account has a margin call set at 60% with a stop-out level being 40%. The broker offers 61 majors, minors, and exotic pairs in the standard account with an option to trade in 5 spot metals and 14 spot CFDs. With a minimum lot size of 0.01, traders can place unlimited orders in the FX Standard account.
FX Micro: Focusing on small-scale investors, the broker offers low deposit accounts starting from a minimum investment of $5. Except for the margin requirements, and leverage offered in the standard account, other services stay almost the same in the FX Micro account as available in the FX Standard account. However, the numbers may also differ concerning the availability of tradeable assets and maximum orders.
FX ECN: Clients can open an FX ECN account with Alpari for a minimum deposit of $500. The account is available for both MT4 and MT5 trading platforms. With a commission of $1.5/lot per side, the account comes with market execution. In addition to high margin calls, and stop-out levels, the broker holds a generous approach in offering spread and leverage to FX ECN account holders. Access to free webinars, multiple trading tools, and dedicated customer support are some prominent features offered in the account.
FX ECN Pro: Targeting VIP clients, the broker offers an FX ECN Pro account that is available to sign up for a minimum deposit of $25000. With a 120% margin call and 100% stop-out level, the account can only be used on MT4. The broker does not charge any commission in the FX ECN Pro account. In addition to services and features available in the FX ECN account, a one-to-one trading session with industry experts is also a part of the services offered to FX ECN Pro account holders.
As far as the signing up process with Alpari is concerned, it does not take more than a few minutes to open a live trading account with the broker. Listed below are a few simple steps you can follow to get started.
Step 1: Click on the signup button as highlighted in the red box on the upper-right edge of the home page of the broker.
Step 2: Enter your details on the registration form, such as Full Name, Country of Residence, Mobile phone number, Email ID, and Password.
Step 3: Checkmark the boxes to confirm your agreement with terms and conditions apply, and enter the verification code received on your email or mobile phone.
Step 4: Complete the registration process by specifying more details such as the date of birth, source of income, trading seniority level, and national tax number.
Step 5: Upload supporting documents to verify your identification, such as a National ID Card, Passport, or Driving License.
Step 6: Set your trading preferences, and deposit funds in your account using the available payment options to get started.
Step 7: Use your account login details on your preferred trading platform to access the forex market and start placing trades.
Alpari Deposit & Withdraw & Fees
Alpari offers a range of deposit and withdrawal methods making it easy for clients to fund their accounts using their preferred method. Listed are the available payment options at Alpari.
- Credit Cards / Debit Cards
- Bank Transfers
- Perfect Money
- TC Pay
- South-East Asia Online Banking
- Turkish Local Transfers
- Local Exchange House
- Local Banking China
- Indonesian Local Transfer
- Latin American solutions
- TC Payment
- Latin American solutions via Skrill
- Mexican Local Transfer
- Egypt Local Transfer
- Tele Pay Local Transfer
- Afghan Local Transfers
- Palestinian Local Transfers
- African local solutions
- Pay R LATAM
- Nigeria Local Bank Wire Transfer
- Iraq Local Transfers
- Online Banking Thailand
- China Online Banking
- Crypto Wallets
Besides a quick deposit and withdrawal process, Alpari doesn’t charge any fee for depositing funds in your account. However, the broker does charge a commission or withdrawal fee on some of the methods listed below.
Payment Method(s) Commission + Fee
Fasapay – 0.5%
South-East Asia Online Banking – 1.4%
Latin American solutions – 1% + 1EUR
African local solutions – $1
Nganluong (E-wallet & banking channel) – 1.1% + $0.05
Visa / MasterCard / Maestero EUR/GBP – €2, USD – $3
Web money – 2%
Perfect Money – 0.5%
Bitcoin – 1%
Wire Transfers – €30
In addition to the withdrawal fee, clients who remain dormant for more than 06 consecutive months may need to pay a $5 inactivity fee to avoid suspension of their accounts. The broker takes a maximum of 24 hours to process your withdrawals. However, funds withdrawal via Latin American Solutions via Skrill, African local solutions, and China online banking make take between 1 – 2 working days.
Spreads with Alpari
Alpari tends to keep the trading cost as competitive as possible. However, spreads offered at Alpari may vary from account to account. Clients holding ECN standard and ECN pro accounts are charged a minimum spread of 0.4 pips on each trade. On the other hand, FX Micro & Standard account holders need to pay a minimum spread of 1.2 pips and 1.7 pips on their positions respectively.
Leverage with Alpari
Unlike other brokers, Alpari offers excessive leverage to its clients. Starting from fixed leverage of 1:400 in FX Micro account, Traders can use a maximum of 1:1000 leverage in FX Standard & ECN Standard accounts. However, the leverage available in the ECN Pro account drops to 1:300. It is worth mentioning here that the broker has written a disclaimer on its website concerning the leverage and minimum margin requirements. According to the broker, it can switch the maximum leverage to 1:300 on all forex pairs and spot metals in the last hour of a trading session every Friday. However, the broker also states that it might reset the leverage to its original level before the beginning of a new trading session.
Alpari User Experience
With a quick account opening process and easy verification system, the broker seems to have a customer-focused approach. Step by step guide is available for clients wishing to get started with the broker. The minimum deposit of $5 in a Micro account falls within the reach of everyone to open an account with the broker and start placing trades. The broker does not have a proprietary custom-built trading platform. In simple terms, it does not offer cTrader. Clients have to rely upon the MT4/MT5 trading platforms. Both of them being user-friendly trading platforms are easy enough to navigate and equipped with all the basic and advanced trading tools needed for a successful trading experience. Alpari also facilitates on-the-go users with MT4/MT5 mobile trading platforms. The broker offers both instant and market execution making it flexible for traders to have a customized trading exposure.
As far as risk management tools are concerned, Alpari does offer negative balance protection. Since traders can use high leverage with the broker, there is an increased risk for traders to end up incurring severe losses in their accounts. Alpari’s negative balance protection ensures that a trader’s loss doesn’t exceed their capital. On the other hand, the broker is a registered member of the Financial Commission of Hong Kong which is a dispute resolution body. If a company becomes liquidated for any reason, the Financial Commission offers clients to claim their losses of up to $20,000.
However, the broker falls well behind the industry standard in providing research and educational tools for clients. Not to mention a diverse range of product portfolio, multiple payment methods, and round-the-clock customer support make it a competitive broker though.
Who Alpari Is For?
With a wide range of tradable financial instruments, competitive trading costs, and multiple account types, the broker is well suited for all classes of traders. The broker offers commission-free trading accounts with excessive leverage to high-volume traders. Alpari demo accounts can be useful for newbies and seasoned traders to practice and improve their trading skills without risking their real money. Not to mention, Alpari copy trading services can help anyone to copy trades without getting actively involved in day trading and generate a passive source of income. In short, the broker is a complete trading solution under one roof for everyone.
Alpari Customer Support
Alpari offers next class customer support services round the clock. Clients can access the broker via email, live chat, or phone. The broker is also available on Facebook, Twitter, and Instagram. The broker is quick to respond to your queries and fast enough in providing solutions to your complaints. Alpari’s customer support staff is competent, well behaved, and professional. The best part is that the broker offers multilingual customer services so that clients from different regions across the globe can benefit.
Alpari Final Thoughts
After an in-depth Alpari Review, we conclude that Alpari is one of the most reliable forex brokers available around. With flexible account types, a diversified range of products, copy trading services, cash rebate offers, and efficient customer support, the broker is a win-win choice for both retail and institutional investors. Not to mention, FSC regulation and clients funds compensation scheme under registration with Financial Commission – Hong Kong make the broker equally safe and secured.
Countries that Alpari is NOT available in:
Listed below are the countries where Alpari does not offer its services:
- Democratic Republic of Korea
- New Zealand
The minimum deposit accepted at Alpari is $5 for FX Micro Accounts
The maximum leverage available at Alpari is up to 1:1000.