Alpari Review 2024

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Written By
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Written By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
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Fact Checked By
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Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
Updated

3.8 / 5
Alpari is #57 in our CFD broker rankings.

Alpari will suit short-term binary options traders with a low $5 deposit, powerful charting terminals, and a rebate scheme. Forex traders also get very high leverage with tight spreads while the broker's PAMM service will appeal to hands-off investors.

- Tobias Robinson, Reviewer

Alpari is an offshore multi-asset broker that offers traders a wide range of forex trading opportunities as well as stock, index and commodity CFDs. The broker also offers fixed costs with payouts known upfront. Trading takes place on the reliable MT4 and MT5 platforms, plus the brand's mobile app. Alpari offers tight ECN spreads which will serve active day traders.

$5
MT4, MT5
Forex, CFDs, Stocks, Commodities, Indices, Crypto
30% up to $100 (terms apply)
USD, EUR, GBP, CZK, NGN
Mastercard, Credit Card, FasaPay, Volet, Wire Transfer, Bitcoin Payments, Ethereum Payments

Forex Trading

Alpari traders can access 60+ currency pairs and crosses via CFDs on the MT4 and MT5 platforms. The broker offers very competitive pricing, especially on the ECN Pro account which is commission free. Significant leverage up to 1:1000 is available.

Stock Trading

Alpari traders can speculate on the price movements of hundreds of global shares and 21 indices through highly leveraged CFDs. Leading blue-chip stocks are available including Microsoft, Alibaba and Apple, while major indices include the SPX500 and UK100.

CFD Trading

Alpari offers CFDs on 60+ forex pairs, hundreds of global stocks, 11 stocks indices and spot metals and energies. Trading takes place via the MT4 or MT5 platforms, and the broker provides strategy and copy trading support as well as educational resources and 24/5 multilingual customer service.

Crypto Trading

Alpari offers a solid selection of popular crypto tokens paired with the USD. Spreads are competitive, starting at 1 and users can analyze the digital asset markets with the leading MetaTrader platforms, including on the weekends.

Copy Trading

Users can follow experienced strategy managers at Alpari, including seasoned forex traders. The broker offers account ratings to help you find a suitable provider as well as notifications on returns and one-click deposits and withdrawals.

✓ Pros

  • Low or no commissions are available and there are tight spreads on ECN accounts
  • There's an excellent choice of funding options with no fees
  • Cashback schemes are available for high-volume traders
  • Alpari supports both the MT4 and MT5 platforms with support for Expert Advisors (EAs)
  • Copy trading and PAMM services are also available for day traders
  • The broker offers high leverage up to 1:1000 for experienced clients

✗ Cons

  • The lack of educational resources is disappointing compared to alternatives
  • There are fairly high charges for strategy manager copy trading tools
  • The market analysis and research tools are limited

Alpari Review. Alpari (Comoros) Ltd are a global forex and CFD broker. Our detailed review explains everything from the MT 4 and MT 5 trading platforms to specifics like minimum deposit, bonus and account types information. We highlight the Alpari (Comoros) Ltd regulation status and explain whether the brand offer a sound investment for traders, whether they are beginners, experienced traders or professional.

Key takeaways

  • Alpari is an interesting alternative for traders who want to be able to use leverage.
  • The broker offers fee-free deposits as well as free ways to withdraw money.
  • They offer a free unlimited demo account.
  • Trading through MetaTrader4.
  • Offer regular and ECN accounts.
  • Deposit money using VISA, Mastercard, Bank transfer, Skrill, Neteller, WebMoney, FasaPay, Perfect Money, bitcoin and more.
  • Commissions free trading, Low spreads. From 0.4 pips
  • Offer very high leverage. 1:1000 in a standard account. 1:400 in a micro account.
  • Mobile app for Android and iOS.
  • Regulated by the Financial Services Commission of Mauritius, the Securities and Exchange Board of India, and the Financial Services Agency in Japan
  • Up to 30% bonus on deposit.

Trading Platform

Alpari (Comoros) Ltd operates a web-based MetaTrader 4 and MetaTrader 5 platform, with a dealing desk. Both platforms will provide a great level of flexibility, including modern and intuitive charting tools and simple navigation.

There are 4 possible platform versions to choose from iOS, Android, Desktop and WebTrader. These are ideal for those who are just getting started in trading.

If you are a more experienced trader and are looking for higher volumes of trades, the Alpari Direct platforms are available.

This enhanced platform is ideal for advanced investors, as there are a variety of additional features available.

If you open an MT4 MicroAccount, you will have access to instant order execution, with margin calls at 50% and stop outs set to 30%. The standard MT4 account also offers instant execution, however, margin calls are set slightly higher at 60%.

For more experienced traders, the ECN accounts may be more appealing. These offer margin calls of 100%, although pending orders are set at a maximum of 300.

Markets

This broker offers access to a decent variety of popular financial markets:

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How to Trade on Alpari

As an individual trader, you don’t need to physically own an asset, such as a commodity, to gain from it. You can buy or trade a security, then profit from changes in its price through various financial instruments. We have summarised the different trading vehicles available on the Alpari platforms:

It’s always important to remember, however, that losses can occur with each investment vehicle so you should always trade responsibly.

Spreads & Commission

Alpari offer spreads on major currency pairs of just 0.4 pips, which are some of the tightest on the market. The spreads available on trades will depend on the type of account held. The micro MT4 account offers spreads starting from just 1.7 pips when trading major Forex pairs.

If you choose to open a standard MT4 account, these traders are offered spreads from 1.2 pips on major Forex pairs. If you are a more experienced trader, the ECN account spreads start at just 0.4 pips for majors.

If you are a professional trader looking to trade individual stocks, you will need to open the ECN Pro account. There is no commission charged on this account, compared to the ECN account which charges $3 per lot round trip.

Leverage

The maximum leverage amounts offered will depend on the type of account traders hold. For example, the MT4 MicroAccount offers a maximum available leverage of 1:400. Whereas, the ECN account and the standard MT4 account offer a maximum available leverage of 1:1000.

The 1000 to 1 leverage amount will reduce as the notional trade size of open positions increased. It the total notional value reaches $8 million; the leverage will fall to a minimum level of 25 to 1. If you plan on trading cryptocurrencies and individual stocks, due to regulatory rules the maximum leverage offered is less.

Full leverage details are available on the site.

Alpari (Comoros) Ltd do advise that some multiplier levels and certain products are not available to those located in EEA countries. This is due to legal restrictions on traders in these locations.

Mobile App

It is possible to download either the MetaTrader 4 or MetaTrader 5 app through the app store. Both platforms are available for iOS and Android. The MetaTrader 4 app offers features such as 3 possible chart views and 30 trading indicators. In contrast, the MetaTrader 5 app provides financial news updates, market depth information and a full set of orders.

Alpari Trading Platforms MT4 and MT5
Alpari Trading Platforms MT4 and MT5

Payment Methods

Alpari International offers a quick and secure depositing process. The following methods are accepted for deposits and withdrawals:

The processing time will depend on the individual payment method. If several banks are involved in a wire transfer of funds, it can take up to 3 to 5 days for funds to reach your Alpari International trading account.

For withdrawals to electronic payments systems, the payment will usually be processed within 1 working day.

To improve security, the first time you make a withdrawal you will need to verify your identity with the payments department. They will contact you through your registered email or via the phone number registered on your account.

The majority of withdrawal methods do not require commission fees to be paid. Although, there are some charges for electronic wallets ranging from 0.5% to 2%. All bank wire transfers are charged a fee of EUR 30.

Alpari International Forex Automated Trading

Demo Account

There is a free demo account available, which can be used as a risk-free way to learn how to trade without depositing any funds. You will have access to both the MT4 and MT5 platforms, where you will be able to test out a variety of popular trading strategies.

Your demo account will be loaded with virtual funds, so you can take a practical approach to learning the art of trading.

Deals and Promotions

They are known for running regular promotions for their clients, such as the long-running loyalty cashback program. Every lot which a client trades results in them receiving a cash rebate. There are five possible rebate levels, with each rebate able to be withdrawn as cash.

It is worth checking the promotions area regularly, as new offers and incentives are often available. For example, they offer top-up credit to some deposits on a regular basis.

This could see your deposits boosted by up to 30%. If you are unsure whether you are eligible for a particular promotion, take a look at the detailed terms and conditions.

Regulation and Licensing

Alpari International is one of the most trusted brokerage groups, with a well-established history spanning more than 20 years.

They are fully regulated by The Financial Services Commission of The Republic of Mauritius, via their parent company Exinity Limited. Their investment dealer licence number is C113012295.

They do offer negative balance protection, so if a market changes quickly against your current trade, your account won’t fall into a negative balance.

As a member of The Financial Commission, there is an external dispute resolution process available. If a claim is made in the trader’s favour, you will have access to up to compensation to a maximum amount of EUR 20,000.

Additional Features

If you are new to trading, lack confidence or are short of time, you could benefit from the Alpari Copy Trading feature.

This will offer the same thrill of trading, although your account will automatically copy the moves of the experienced traders using the platform.

It is possible to view the Alpari International Top Ranking Strategy Manager, which will display a list of potential traders to follow.

These are known as strategy managers and their trade moves can be instantly copied to your own account.

If you are looking to learn the basics of trading, there are a variety of trader education tools. Simply open the ‘Learn to Trade’ tab and you will find articles such as ‘The Beginner’s Guide to Trading’.

The brokerage services are available to many countries around the world, although the following are currently excluded; Georgia, Ukraine, Turkmenistan, Uzbekistan, Tajikistan, Moldova, Armenia, Kyrgyzstan, Kazakhstan, Belarus, Azerbaijan, Russia, the Democratic Republic of Korea, Suriname, Haiti, Japan, Canada, New Zealand, Mauritius and the USA.

Alpari CopyTrade
Alpari CopyTrade

Account Types

In addition to the demo account, there are 4 account types which will use real money. These are divided into standard accounts and the enhanced accounts, which are known as ECN types.

The standard accounts are available as a basic option, known as the MT4 MicroAccount and the standard MT4 account, both offer market-maker execution.

The accounts for more experienced traders are the standard ECN account and the ECN Pro Account, which offer instant execution.

Although the range of accounts is offered freely, there are certain trading markets which are closed to some accounts. Whichever account you choose it is possible to use one of four base currencies;

By accepting Nigerian Naira, Alpari International clearly demonstrate their commitment to making trading more accessible. Nigeria is a significant market for the brand.

Company Details

Alpari (Comoros) Ltd was founded in Mauritius in 1998 and has grown to become an important platform with the trading industry. The current refreshed brand was introduced in 2013, as a new and exciting chapter for the group. With more than 20 years in the market, Alpari International has grown across the world.

This global trading giant has more than 2 million clients and aims to offer a modern and dynamic platform for every trader. The easy to use website and range of 250 trading instruments have opened up the brand to traders of every experience level.

As you would expect from a reputable brand they are regulated by the Financial Services Commission (FSC).

Benefits

One of the main benefits of trading with Alpari International is the competitive trading conditions, which are designed to appeal to both beginners and experienced traders.

This means financial markets are available to even the smallest investors, who are able to deposit a minimum of 5 EUR.

They also offer competitive leverage spreads and margins. For example, a standard account holder will have floating leverage from 1:1000. Note, the margins in the commodity futures market are lower than with equity futures and options.

Benefits for advanced or professional traders include improved spreads, a loyalty scheme and the facility to become a Strategy Manager and share in the volume of trades created.

The impressive range of commodities, which is an independent asset class, also offer good opportunities for portfolio diversification.

Our review was also pleased to see the broker offers binary options, known as fix contracts. These are great for beginners, offering a straightforward ‘yes or no’ proposition.

New traders can get started with just 1 USD and the brand’s binary options products are available on both the desktop and mobile trading platform.

Alpari Strategy Manager
A Leading Alpari Strategy Manager

Drawbacks

If you are thinking of using the popular Strategy Managers tool to copy trades, there are charges involved. To select one or more strategy managers, you will need to pay EUR/USD/GBP 100, which could be a barrier for those just starting out in trading and looking to make small deposits.

In addition, the terminology used with the Copy Trading tool could be difficult for a novice trader to understand. Although, Alpari International does offer a simpler explanation for many of the most important terms.

They do not provide research tools through their platform, which can make it difficult to follow the market information. Although the MetaTrader 5 platform does offer some short news articles which can aid research.

Alpari also recently stopped offering trading on cryptocurrencies, this will be a significant drawback for some.

Trading Hours

The broker offers the following trading times for the various instruments (GMT):

Customer Support

2.8 / 5

Alpari has a great reputation for offering excellent services to their satisfied customers. They are particularly good at offering help and guidance through the live chat, email and phone service. It is also possible to view their website in 9 languages, including Chinese, Persian and English.

The customer support team are based in Mauritius and are available 24 hours a day from Monday until Friday. Although for urgent queries they do open on a Sunday afternoon.

There is also a live chat service available.

Safety and Security

All payments processed through the site are handled by a secure payment provider, which ensures personal details are safe and secure. The card transactions are processed through Al Accept Solutions Limited and FR Global Services Ltd.

The registration process is designed to be quick and easy, simply click the ‘Register’ tab, which is located in the top right of the website.

You will be asked to enter your details, which is then followed by a PIN verification which is sent to your registered phone or email address. Once verified you will be able to login to your account and complete your profile.

When you register for either a demo account or a full paid account, you will need to provide personal and financial information.

As part of this process, you will need to prove your residency and identity by providing documents such as a passport, utility bills, National ID or bank statements.

If at a later date you close your Alpari account, they will hold your details on file for a further 7 years.

To protect your personal and financial data, Alpari International adheres to strict security standards and uses the latest security technologies.

Alpari Verdict

Whether you are a first-time trader or an experienced professional, the wide range of accounts and possible features will appeal to many.

The latest platform is user-friendly and offers a quick registration process. They are also committed to offering advice and guidance to traders, so continue to remain an attractive option for many modern traders.

Alpari is a popular choice for investors who are looking for some of the lowest margins when trading Forex. If they can move on from the regulatory and insolvency issues under previous ownership, there is a solid product underneath.

Top 3 Alternatives to Alpari

Compare Alpari with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

    Forex trading involves risk. Losses can exceed deposits.
  2. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

  3. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

Alpari Comparison Table

Compare Alpari With Similar Brokers
Alpari IG World Forex Interactive Brokers
Rating 3.8 4.4 4 4.3
Markets Forex, CFDs, Stocks, Commodities, Indices, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Demo Account Yes Yes Yes Yes
Minimum Deposit $5 $0 $1 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots $100
Regulators FSC, SEBI, JFSA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA SVGFSA FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
Bonus 30% up to $100 (terms apply) 100% Deposit Bonus
Education No Yes No Yes
Platforms MT4, MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5 Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Leverage 1:1000 1:30 (Retail), 1:250 (Pro) 1:1000 1:50
Payment Methods 7 6 10 6
Visit Visit Visit Visit
Review IG
Review
World Forex
Review
Interactive Brokers
Review

Compare Trading Instruments

Compare the markets and instruments offered by Alpari and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Alpari Trading Instruments
Alpari IG World Forex Interactive Brokers
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes No
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes Yes No
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes No Yes
Options No Yes No Yes
ETFs No Yes No Yes
Bonds No Yes No Yes
Warrants No Yes No Yes
Spreadbetting No Yes No No
Volatility Index No Yes No No

Alpari vs Other Brokers

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Alpari is an offshore multi-asset broker that offers traders a wide range of forex trading opportunities as well as stock, index and commodity CFDs. The broker also offers fixed costs with payouts known upfront. Trading takes place on the reliable MT4 and MT5 platforms, plus the brand's mobile app. Alpari offers tight ECN spreads which will serve active day traders.