If we talk about the oldest and the most reputable forex brokers, then Alpari Broker might be on our Top 3 Forex Brokers list.
There are many reasons to justify our statement and we will be listing them all.
Alpari Broker was founded in 1998 and they are one of the pioneers “Who introduced Meta Trading 4 and 5 platforms.”
Today, they have different account types and trading instruments to offer. What’s more, they have more than 50 forex pairs, 30 CFDs, Commodities, and Metal for the traders.
Users can get started trading with a “Demo Account” and they lead the pack with four different accounts; Standard, Micro, ECN, and ECN Pro account.
All the accounts have their own specialty, features, fees/commissions, and higher leverages. Depending on your “Needs and Wants,” you can select the account and start trading on it.
Also, they provide their users access to live webinars on a daily, weekly, and monthly basis. The aim of webinars is to make sure “Alpari Brokers are well-educated and know everything about trading.”
In this article, we will review the basics, as well as other things related to Alpari Broker. Additionally, we will let you know “If the platform is safe or a scam.”
General Information of Alpari Broker
Broker Information
- Company Name: Alpari International
- Founded: 1998
- Country: Mauritius
- Phone: +442080896850
Platform Info
- Platform: MT4, MT5
- Dealing Desk: Yes
- Web-Based: Yes
- Mobile Trading: No
Broker Services
- Regulators: CySEC
- Minimum Deposit: None
- US Clients: None
- Funding Methods: Wire Transfer, credit/debit card
- Pairs Offered: 33
Regulations of Alpari Broker
Alpari Broker is safe for trading forex and CFDs. They are regulated by the CySEC and FSC. If you want to double-check the license number of “Alpari Broker” on FSC, then “C113012295” is their license number. You’ll get all the details about Alpari Broker at FSC after entering the license number.
Alpari Broker is one of the few brokers who protect your account from “Negative Balance.” If your forex strategies aren’t working, you’ll never witness your account going negative.
Let’s now talk about the account types.
Account types of Alpari Broker
There are two types of accounts that you can get at Alpari Broker:
- Standard Account
- ECN Account
These accounts do have “Sub Account Category” as well. And you can choose those accounts if they fit your “Needs and Wants.”
Standard Account
| Forex Standard Account, MT4 | Forex Micro Account, MT4 | |
| Currency | USD / EUR / GBP / NGN | USD / EUR / GBP / NGN |
| Leverage | Starting From 1:1000 | Fixed 1:400 |
| Maximum Deposit Limit | No | No |
| Commission | No | No |
| Minimum Deposit | $100 | $5 |
| Execution Type | Instant Execution | Instant Execution |
| Spread | From 1.2 | From 1.7 |
| Margin Calls | 60% | 50% |
| Stop Out | 40% | 30% |
| Swap Free | Yes | Yes |
| Limit and Stop Levels | 1 Spread | 1 Spread |
| Pricing | Five Decimals for FX Trading, Two Decimals for Spot Metals | Five Decimals for FX Trading, Two Decimals for Spot Metals |
| Minimum Volume Per Trade | 0.01 | 0.01 |
| Maximum Number of Orders | Unlimited | 1000 |
ECN Account
| Forex ECN Account, MT4, MT5 | Forex PRO Account, MT4, MT5 | |
| Currency | USD / EUR / GBP / NGN | USD / EUR / GBP / NGN |
| Leverage | Starting From 1:1000 | Fixed 1:300 |
| Maximum Deposit Limit | No | No |
| Commission | No | No |
| Minimum Deposit | $500 | $25000 |
| Execution Type | Market Execution | Market Execution |
| Spread | From 0.4 | From 0.4 |
| Margin Calls | 100% | 120% |
| Stop Out | 80% | 100% |
| Swap Free | Yes | Yes |
| Limit and Stop Levels | 1 Spread | 1 Spread |
| Pricing | MT4: Five Decimals for FX Trading, Two Decimals for Spot Metals MT5: Five Decimals for FX Trading, Three Decimals for Spot Metals | Five Decimals for FX Trading, Two Decimals for Spot Metals |
| Minimum Volume Per Trade | 0.01 | 0.01 |
| Maximum Number of Orders | Unlimited | Unlimited |
As we are done discussing the account types, it’s time to move on to a discussion of the trading platforms provided.
Trading Platforms
Like other brokers, Alpari Broker has two types of trading platforms to choose from:
- MetaTrader 4
- MetaTrader 5
Benefits of MetaTrader 4
- Real-time access to market prices and liquidity
- Availability of Technical and Fundamental analysis tools
- Multiple Trading Orders facility
- Top-Notch Security and High Stability
- Different trading options for the Forex Experts
Benefits of MetaTrader 5
- You can trade forex, stocks, and other instruments from any platform (Web Browser, Mobile, PC, or Tablet)
- It provides you with a “Powerful Trading System” and that means “you’ll get separate trading and ordering accounts.”
- Reliable data protection and high security
- Availability of “Robotic Trading Feature” is the best and most fascinating feature. You just need to decide the strategy and set up a few instructions. The robotic feature will do the rest for you.
If you want to download the trading platform, you can head to the official website of Alpari Broker or Click Here to download.
Trading Platforms are available for the following devices:
- MT4 and MT5 for IOS
- MT4 and MT5 for Windows
- MT4 and MT5 for Android
- MT4 and MT5 for Ipad
- MT4 and MT5 for Web Trading
This is the reason why traders love Alpari Broker so much because they can trade on every device they have in their bucket.
Spread of Alpari Broker Accounts
Every account has different spreads and there are many reasons behind it. If you’re a beginner, you should go for the “Beginner’s Account” in order to learn and enlighten yourself about “Spread and different things relevant to your account.”
- Standard Account: The spread of the standard account is 1.2 pips, and for the micro account (the spread is 1.7 pips)
- ECN Account: The spread of Forex ECN account is 0.4 pips, and the spread of ECN Pro account is 0.4 as well (But it can go up to 0.8pips).
Execution Time of Alpari Broker
The execution time for every broker is almost the same and they work on “Two Types of Executions.”
Instant Execution
It is a type of forex execution in which “You have to specify the volume and price of your order,” and the order should be processed instantly. If the trading price changes at the time of order placement, a broker cannot change the execution price.
It can or cannot go in the favor of the client, depending upon different situations and conditions.
Market Execution
Market execution is a type of forex execution in which the client places the order and specifies the volume only. The broker has to buy the order with the current price and can’t request the client for the price change in case of any “Market price changes.”
Using the execution time perfectly can save you from “Losses” in the Forex Market.
Commissions and Fees of Alpari Forex
The Commissions and Fees are completely dependent on the account type. In order to help you understand things, we have shared a screenshot below.
To open an Alpari Broker account, you should have $100 on your credit card.
Customer Service
Customer Service is the backbone of any industry, and that’s where Alpari Broker stands out from the pack.
According to the various review websites, traders are happy with the Alpari Broker’s Customer Service. In a recent review, 130 out of 150 people gave Alpari Broker 5 stars for providing top-notch customer service.
Here is some additional data that we collected after extensive research:
- They get back to your message within a minute
- Broker Standing (25th out of 50)
- Overall Ratings (6.5/10)
- Average Professionalism (6.2/10)
There are three ways of contacting customer service:
- Live Chat
- Phone Call
Let’s now talk about “How to open an account on Alpari Broker.”
How to open an account on Alpari Broker
Opening an account on Alpari is super-easy and one can do it without any problem. Just follow the steps given below:
- Go to the official website of Alpari Broker by Clicking Here.
- Once there, look for the “Register Now” button. You’ll find that on the top menu bar.
- Click on the Register Now button and you’ll be redirected to the registration page.
- Enter the information there and choose the account type.
- Once done, accept the “Terms of Services and Policy” and then click on the finish button.
- You’ll be contacted about your account opening by Email or Phone.
How to Deposit & Withdraw Money from Alpari Forex?
A good broker always makes it simple for traders to deposit/withdraw money. This is exactly what “Alpari Broker” did, and you can follow the instructions below to deposit/withdraw your money (If you’re a newbie).
- The first step is to log in to your account.
- Once logged in, head towards the menu and find out the “Withdrawal/Deposit” option there.
- Choose the option that you want to go for and then enter the details
- They will review your payment request and then process it
- You’re done
They accept hundreds of payment methods, and you can choose your favorite one.
Alpari Broker vs. FXTM.Com
| Broker | FXTM | Alpari |
| Headquarter | Cyprus | Belize |
| MM/STP Broker | Yes | Yes |
| ECN Broker | Yes | Yes |
| Founded | 2011 | 1998 |
| Regulated by CYSEC | Yes | Yes |
| Regulated by FCA | Yes | Yes |
| Minimum Deposit | $5 | $1 |
| Demo Account | Yes | Yes |
| Micro Account | Yes | Yes |
| ECN Account | Yes | Yes |
| Islamic Account | Yes | Yes |
| Deposit Bonus | No | Yes |
Which Trading Platform Shall you Choose?
As discussed above, there are two types of trading platforms that Alpari Broker has:
- MetaTrader 4
- MetaTrader 5
Difference between MT4 and MT5
| MT4 | MT5 |
| User-Friendly Features. | User-Friendly Features. |
| Access to all the major Forex trading features. | Access to all the major Forex trading features. |
| Different Language Support. | Different Language Support. |
| 2 Execution Modes. | 4 Execution Modes. |
| Market Depth and Hedging Availability. | Market Depth, Hedging and Netting Availability. |
| 20 Technical Indicators and 15 Time Frames. | 38 Technical Indicators and 21 Time Frames. |
Both of the trading platforms are good, and guess what? They are upgraded as well. If you’re a newbie or have limited investment, you can go for MT4 and learn dozens of things. But if you want to scale things up, then MT5 is the way to go.
Advantages and Disadvantages of Alpari Broker
Advantages:
- They are licensed and regulated. This means there are almost zero chances of scams or fraud.
- They have a great collection of account types. Alpari offers accounts for beginners, professionals, and experienced brokers.
- Alpari is a member of the EDR (External Dispute Resolution) Organization also.
Disadvantages:
- When we talk about trading instruments, they have limited instruments, and most experienced traders don’t prefer this place for this reason.
- They have great and detailed content on the Russian version of the website, but the “English” version of the website seems like it’s not up to date and not very rich in content.
Note* To all the new traders, Alpari is offering a 100% bonus for opening an account. You can start without having anything in your account, and upon depositing money, you’ll get a 100% bonus as well. The offer is for a limited time and might expire in the second month of 2021. That’s all for the “Alpari Broker Review.” Do let us know in your comments, “Which type of account are you going to choose and why?” We love hearing from our readers, and all comments and points of discussion are welcomed.
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