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The Alpari Group of Companies, which owns the Alpari platform, dates back to 1998. It has a long and rich history in the forex trading sector. The group was amongst the pioneers that offered the MetaTrader platform including MT4 and MT5. It also offers managed account investors with structures products, PAMM funds, and social trading for its clients. The Alpari trading platform was launched in 2014 and is regulated by the Financial Services Commission of the Republic of Mauritius. Users have access to over 250 markets via CFDs, Spot, and Futures across stocks, indices, metals, crypto, and forex, via MT4 and MT5 platform for both web and mobile. This platform is designed for both newbies and professional traders. On its website, it claims to have two million traders using its services.
Fees on this platform vary depending on your account type and the platform you use to execute trades. For instance, an ECN.MT4 account has an average spread of 0.8 for the EUR/USD pair. On the NANO/MT$ account, the average spreads were 2.0 for the EUR/USD pair.
Apart from the Nano account, there is no minimum deposit requirement. All other accounts can be opened with amounts ranging from $300 to $500 and execution methods vary depending on the account type.
Alpari also offers based pricing for the PRO ECN MT4 account and the ECN MT5 account, which is added to the average spreads set at 0.6 and 0.3 respectively for the EUR/USD pair. The commission for these accounts is set at $32 per round turn and this brings all costs to 0.92 and 0.62 respectively.
These two accounts offer a greater range of tradable instruments that include ten-stock index CFDs, three commodity CFDs, and about 50 forex pairs. The most competitive account offered by Alpari is the ECN MT5 account in terms of all-in cost for spread fees to trade and commissions.
Regulation and Fund security
Alpari International is a regulated entity with a history that is over two decades. The Financial Services Commission of Mauritius via Exinity Limited regulates them, which is their parent company. They are registered in Mauritius under license number C113012295. The platform offers negative balance protection, which ensures that if the market changes quickly against your existing trade, the account will not fall into a negative balance. Alpari is a member of the Financial Commission, which is a self-regulated dispute resolution body. If the body rules in your favor, you will be granted compensation of up to EUR 20,000.
In terms of funds security, Alpari has certain measures in place to protect traders. These measures are:
This means that the funds of the broker are stored separately from those of the traders’ accounts. As a result, if the broker goes under, the traders’ funds will not be affected.
All communication of the Alpari platform is protected using SSL encryption. As a result, your financial data cannot be compromised.
Alpari works with various banks to facilitate the smooth transfer of funds.
Alpari offers traders six different accounts from which to choose. These are:
Nano MT4 Account
This account has a minimum deposit amount of $5; the leverage offered here is fixed at 1:400. Spreads on this account are fixed from 2.0 and you can access 46 currency pairs and 2 spot metals. The minimum order size for this account is set at 0.01 and the maximum is set at 100. This account does not have a demo version.
Standard MT4 Account
The minimum deposit for this account is set at $100 and leverage is fixed at 1:1000 is offered. The spreads are floating and they start at 0.3. A demo version of this account is available.
ECN MT4 Account
The minimum deposit for this account is set at $300 and the leverage is set at up to 1:1000. You can trade 46 currency pairs, 2 spot metals, and 2 commodity CFDs. A demo version of this account is available.
Pro ECN MT4 Account
This account comes with a minimum deposit amount of $25000 and a leverage of up to 1:300. An ECN Commission is applicable and it is set at $16. A demo version is available.
ECN MT5 account
This account comes with a minimum deposit set at $500 and it allows you to use the MT5 platform. The leverage is set at up to 1:1000. Additionally, there is a $16 commission charge. A demo version is available.
There is a demo version offered for all account types except the Nano account. This allows you to get a feel of the platform without having to risk any of your funds.
Investment Products/Trading instruments
Alpari offers its users a wide range of asset classes such as indices, forex, crypto, metals, and stocks. The markets offered to traders will vary depending on their trading platform and the type of account they are using.
Alpari supports the MT4 and MT5 trading platforms.
The MT4 platform offered by Alpari features a wide selection of tools and the ability to customize the platform to meet all the personal needs of a trader. There is a built-in programming language, scripts, trading strategies, and indicators built into it.
The MT5 platform offered by Alpari can accomplish everything that the MT4 platform has to offer and more. It has various features and upgrades such as a library of free and read to use EAs, indicators, and scripts that are written using a built-in programming language. It is designed for advanced traders and it comes with 38 indicators, 39 geographical objects, and various options for customization.
Webinar, seminars, educational material
Alpari provides its clients with a trove of education material. This material is well-researched and updated often. It is designed to help both expert and upcoming traders to improve their trading. You will be able to learn how to trade in the forex market, how to improve your market analysis, and much more. Alpari has also provided a glossary where you can go to learn about all the complex terms used in the trading world. Besides the beginners’ guide, Alpari has a guide on various complex strategies that traders in the forex market often use.
The customer support on this platform is quite reliable. The support can be reached 24 hours a day on weekdays and a few hours on the weekend via a live chat feature. Alpari also lists numbers on its site via which you can contact support for a more personalized resolution of your problems. Besides that, they also provide a postal address if you would like to establish correspondence via snail mail.
Active Bonus and Promotions
Alpari runs various promotions and bonuses. However, these promotions and bonuses often change with time. If you wish to see the active promotions, visit the “Promotions” section of the “My Alpari” dashboard once you login to your account. The promotions include:
This program offers users points when they trade and invest using Alpari. Traders can use those points to get money back on commissions and swaps but they come with numerous other benefits.
Premium client status
Premium clients are given various benefits such as commission-free deposits as well as withdrawals.
100% in 30 Seconds
This program is offered when a user opens an account and begins trading binary options
100% binary options welcome bonus
Offered after you make the first deposit to the binary options trading account
How to open an account
Step 1 –Personal Details
Visit the Alpari site and on the orange button labeled “Join Now.”
You will be taken to a new page where you have to provide personal details such as your first and last name, your number, and your email address.
Click on “Register Now” when you are done.
Step 2 -Configure Account
In the new section, choose your account type and the trading platform you wish to choose from the drop-down menu.
You will then be requested to provide other personal details such as your employment details and financial background. This information will help Alpari offer you a personalized experience when you start trading.
Step 3 –Send Documents
Once you are done with the registration process, a confirmation email will be sent to your email address. It is thus important to get this information right when registering.
You will then be requested to send your verification documents.
Ensure that you have the documents scanned and ready to reduce the time it takes to set up the account. It is also important that you submit genuine documents and the latest versions of these documents. You can begin trading but you will only be able to withdraw the funds once your profile has been approved.
For a beginner trader, Alpari is one of the best platforms out there. The site is designed with newbies in mind, especially those who have little to no idea how online trading works. They have a useful educational section that will help to get traders up to speed on how the markets work.