Unicorn Forex Broker vs Alpari

Unicorn Forex Broker vs Alpari Comparison Table 2024
Unicorn Forex Broker Alpari
2.8
3.8

Unicorn Forex Broker is an offshore multi-asset broker and prop trading firm. The broker offers several account types with unregulated leverage up to 1:1000 on the MetaTrader 5 platform. Traders can also access Prop trading accounts, plus MAM, PAMM and copy trading opportunities.

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.

Bonus Offer
Up To $2000 30% up to $100 (terms apply)
Comment by Reviewer
"After testing the accounts at Unicorn Forex Broker, I think anyone interested in exploring various trading opportunities like PAMM accounts and copy trading, may be well suited. With that said, the lack of regulatory oversight and transparency around pricing are major red flags for me." "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."
Pros
  • I found several interesting trading opportunities available at Unicorn Forex Broker, including prop trading accounts, MAM/PAMM trading and copy trading solutions
  • There's a free MT5 demo account available for beginners who want to try out the trading platform, or more experienced traders looking to test their strategies risk-free
  • I'm pleased to see accessible accounts with low minimum deposits from $10, plus 3 base currencies (USD, EUR and GBP)
  • There's also a decent range of fee-free deposit methods available, including wire transfer and e-wallets and crypto
  • 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 any reputable licensing is a major concern for me, as well as the lack of pricing transparency
  • I was also very disappointed in the lack of additional trading tools, market analysis and educational resources
  • I found little verifiable information about the company's credentials and background, which makes me very hesitant to recommend this broker
  • 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
Awards
  • Best New Broker For Spreads Turkey 2021
  • Best New Liquidity Provider For Cryptocurrencies Turkey 2021
  • Best New Brokerage For Educational Materials & Customer Support Turkey 2021
  • Excellence In Client Funds Security Turkey 2021
  • Best New Brokerage For Spreads Turkey 2021
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Cryptos Forex, CFDs, Stocks, Commodities, Indices, Crypto
Demo Account
Yes Yes
Minimum Deposit
$10 $5
Trading Platforms
  • MT5
  • MT4
  • MT5
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
SVGFSA FSC, SEBI, JFSA
Margin Trading
Yes No
STP Account
Yes No
ECN Account
Yes No
DMA Account
No No
MAM Account
Yes No
PAMM Account
Yes Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
Android iOS & Android
Android App Rating
3.6
iOS App Rating
3.6
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes Yes
Copy Trading Platform
Unicorn Forex Brokers offers a variety of copy trading solutions with fund flexibility and low fees. 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.
Social Trading
No No
Trade Signals
MetaTrader
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$5
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • USD
  • EUR
  • GBP
  • CZK
  • NGN
Stock Exchanges
Commodities
CFD Trading
I like that you can access a fairly wide range of CFDs covering forex, indices, stocks, commodities and cryptos with a choice of account types. There’s also flexible leverage rates and access to copy trading solutions for those looking to follow other strategists. 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.
Leverage
1:1000 1:1000
FTSE Spread
From 1.6 Pips (Standard Account) 13
GBPUSD Spread
From 1.6 Pips (Standard Account) 0.7
Oil Spread
From 1.6 Pips (Standard Account) 4.0
Stocks Spread
From 1.6 Pips (Standard Account) 2.0
Forex Trading
There’s around 100 currencies to trade on STP and ECN accounts, which is a very competitive selection compared to other brands. I found spreads are the lowest in the ECN Pro account, though this requires a minimum deposit of $1000. I’m also disappointed that there are no additional forex market analysis tools or educational resources. 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.
GBPUSD Spread
From 1.6 Pips (Standard Account) 0.7
EURUSD Spread
From 1.6 Pips (Standard Account) 0.4
EURGBP Spread
From 1.6 Pips (Standard Account) 0.6
Assets
100 50+
Currency Indices
  • USD
Cryptocurrency
I was impressed to find around 300 crypto instruments at Unicorn Forex Broker which are available via spot and futures contracts. You can get started with just $10 and pay zero commissions on crypto trades. I also appreciate the various crypto deposit methods available with zero fees. 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.
Spread
From 1.6 Pips (Standard Account) 1
Coins
  • BTC
  • ETH
  • LTC
  • AVE
  • BTC
  • BCH
  • ADA
  • LINK
  • DAI
  • DOGE
  • EOS
  • ETH
  • ECH
  • FIL
  • LTC
  • XMR
  • DOT
  • XRP
  • MATIC
  • SOL
  • XLM
  • USDT
  • TRON
  • UNI
  • USDC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
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