Alpari Broker Review

FinanceFeeds Editorial Team

A Global Brokerage with a Rich History and Strong Offerings



Founded in 1998, Alpari has swiftly risen to become one of the world’s leading forex brokers, serving over two million clients globally.




  1. Overview
  • Founded: 1998
  • Number of Users: Over 2 million worldwide
  1. Company History & Milestones
  • 1998: Founded amidst Russia’s economic crisis, with a focus on the forex market.
  • Early Years: Transitioned to online trading via MetaQuotes’s MetaTrader platform.
  • 2000s: Milestones include 10,000th client, the Alpari Trading School, Alpari Charitable Fund, and international expansion with Alpari UK & US.
  • 2009: Recognitions include “Company of the Year” and “Fastest Growing Forex Company”.
  • 2010s: Achieved numerous milestones such as 100,000th client, sponsorship deals with sports teams, and an all-time high trading volume of 210 billion USD.
  • 2011: Became the world’s third-largest Forex broker in terms of trading volume.
  • 2012: Launched the “Alpari: On Top of the World” project, setting world records in mountain climbing.
  • 2013: Yearly turnover exceeded 1 trillion USD.
  • Mid 2010s: Launches included the ECN account, Alpari Mobile application, and binary options trading.
  • 2017: Recorded a trading turnover of over $1.3 trillion, a 29% growth from the previous year.
  1. Recognition & Awards
  • 2009: “Company of the Year” and “Fastest Growing Forex Company”.
  • 2010s: Recognitions from the US National Futures Association, IBTimes Trading Awards, Forex Expo Awards, Finance Magnates Awards, and more.
  • Recent: Voted “Most Innovative Broker” and the “Most Reliable Broker” at the FX Empire Awards.
  1. Expansion & Global Reach
  • Offices and clients spread over 150 countries.
  • Strong presence in Asia, with participation in events like the iFXExpo in Hong Kong.
  • Received licensing from the Bank of Russia.
  1. Community & Social Initiatives
  • Sponsorships include FC Spartak Moscow, London football club West Ham United, the New York Knicks, and the New York Rangers.
  • Established the Alpari Charitable Fund.

Key Reasons to Choose Alpari:

  1. Reputation and Experience: With 25 years of market presence, Alpari has become a trusted name in the trading industry. Their growth, even during challenging economic times, speaks volumes about their resilience and capability.
  2. Customer-Centric Approach: Alpari places a high emphasis on customer service, with specialists available through various communication channels, offering tailored advice and guidance.
  3. Diverse Trading Options: Whether you’re a novice or an experienced trader, Alpari has something for everyone. The option to either trade independently or follow experienced traders is a major plus.
  4. State-of-the-Art Trading Platforms: Alpari offers MetaTrader 4 and MetaTrader 5, known for their user-friendliness and robust features. They also provide the FIX Contract platform for advanced traders.
  5. Advanced Trading Tools: Alpari ensures that traders have all the necessary tools at their disposal, from real-time quotes to economic calendars.
  6. Commitment to Security: Alpari goes the extra mile to ensure the safety of client funds by storing money in segregated accounts and working only with reputable banks. They maintain transparency in operations and adhere to strict financial standards.
  7. Social Responsibility: Their involvement in social activities and sponsorships, such as supporting children’s causes and partnering with sports teams, showcases their commitment beyond business.
  8. Global Presence: Alpari, headquartered in SVG and Mauritius, holds several regulatory licenses, ensuring they can cater to clients worldwide.
  9. Diverse Asset Offerings: Alpari offers a broad range of trading instruments, from currency pairs and cryptocurrencies to commodities and indices. Their focus on PAMM accounts, along with an impressive loyalty program and cashback rebates, adds more feathers to their cap.
  10. No Minimum Deposit Requirement: A key advantage with Alpari is the absence of a minimum deposit requirement for most of its accounts, making it very accessible.
  11. Additional Features: The brokerage offers up to 1:3000 leverage, swap-free accounts, and a cashback feature on both spreads and commissions. Their support team, available 24/7 and a plethora of deposit and withdrawal methods, including digital currencies, ensures a seamless trading experience for clients.

Fee Structure

Alpari’s fee structure is comprehensive and offers competitive rates to its users. The following summarizes the key aspects of their trading costs and related fees:

Trading Costs:

  • Alpari offers multiple account types with varying cost structures, some of which are extremely competitive.
  • Commission-free Forex fees start as low as 0.2 pips or $2.00 for every standard round lot.
  • They also provide commission-based accounts with minimum raw spreads of 0.0 pips, averaging 0.3 pips. The commission ranges from $1.60 to $4.60 per lot.
  • The volume-based rebate program is an added advantage for frequent traders as it can reduce trading fees further.

Dividend Adjustments:

  • Alpari makes adjustments for dividends on Spot Indices for positions open on the ex-dividend date.
  • Buy positions get credited with the fixed dividend amount, while sell positions have the dividend amount debited.


  • The commission varies depending on the account’s currency. Below are the detailed commissions for various instruments:
    • Forex/Metals: $3/€2.6/£2.35/1,095NGN per lot.
    • Indices: $7/€6/£5.5/2,555NGN per lot.
    • Commodities: $4/€3.5/£3.15/1,460NGN per lot.
    • Cryptocurrencies: $15/€12.5/£11.5/5,400NGN per lot.

In conclusion, Alpari’s fee structure is designed to accommodate both retail and institutional traders. Their competitive rates, coupled with the flexibility of multiple account types, make them a favorable option for many traders. As always, it’s essential for traders to review fee structures in-depth and determine how they align with their trading habits and strategies.

Spreads Overview

Spreads, the difference between the buy (ask) and sell (bid) price, are a vital metric in assessing the cost-effectiveness of a broker. Lower spreads generally signify more competitive trading conditions.

  1. Standard and ECN Accounts:
  • Alpari offers different spread structures based on the account type. In a Standard Account, spreads are typically included in the price, making it wider but without any additional commission. For instance, the spread for the EUR/USD currency pair in a Standard Account is 1.1 pips.
  • In contrast, the ECN Account provides raw or tighter spreads but adds a commission on top of it. The ECN account is more suitable for high-frequency traders where even a slight reduction in spread can make a difference.
  • Pro Account: This account type also offers institutional-level spreads. However, it demands a minimum balance of 25,000 in EUR/GBP/USD or 400,000 ZAR. If the balance falls below the requisite amount, the spreads might revert to retail pricing. Alpari ensures to notify traders in such instances.
  1. Overnight Fee (Swap Rate):
  • An essential aspect to consider for traders holding positions overnight is the swap rate. The swap rate is essentially the interest paid or earned for holding a position overnight.
  • For the EUR/USD pair, if you go short, you’ll be charged 0.65, and for a long position, you’ll be charged ‎1.31. These rates can vary based on market conditions and interest rate differentials between the two currencies in the pair.

Leverage Options

Alpari provides a diverse range of leverage options suitable for both beginner and experienced traders. Here’s a summarized breakdown of their leverage offerings:

  1. Forex Leverage:
    • ECN Accounts: A maximum leverage of 1:3000.
    • Standard Accounts: Leverage capped at 1:1000.
    • Nano Option: Offers a leverage of up to 1:500.
  2. Tiered Structure:
    • Alpari implements a tiered structure where the margin requirement is increased and the maximum leverage is decreased. This is based on the total position volume and the liquidity of the asset in question.
  3. Other Assets:
    • Cryptocurrencies and Equity CFDs: These come with a conservative leverage of 1:5, reflecting the volatility and risk associated with these instruments.
    • Select Commodity and Index CFDs: These can be leveraged up to 1:500.
  4. Negative Balance Protection:
    • This feature ensures that traders won’t lose more than the amount they deposited. It provides a safety net, especially for those new to trading or unfamiliar with managing high-leverage situations.
  5. Risk Management:
    • Leverage is a double-edged sword. While it can amplify profits, it can also magnify losses. It’s crucial to approach leveraged trading with caution and to have a solid understanding of risk management practices.
    • Traders should remember that a high leverage level can also be detrimental, as it could lead to huge losses.

In conclusion, while Alpari offers impressive leverage options that can cater to a wide range of trading strategies and risk appetites, it’s crucial for traders to use these tools judiciously. Employing sound risk management techniques, and educating oneself on the dynamics of leverage is essential to maintain a sustainable and profitable trading journey.

Account Types

Alpari offers a diverse range of account types tailored to meet the varied needs of traders, from novices to professionals. Here’s an overview of the account offerings:

  1. Micro Account:
  • Known for its balance representation in cents (i.e., $10 appears as 1000 cents).
  • Primarily caters to beginners or those wanting to practice trading with lower risks.
  • The limited number of instruments, primarily major and minor pairs, make it less complex for newer traders.

Nano MT4:

  • Purpose: Ideal for beginners aiming to experience live trading without risking large amounts of capital.
  • Features: Trades currency in cents, which helps in minimizing risks.
  • Minimum Deposit: No specific requirement, making it accessible.
  1. Standard Account:
  • Designed as the pioneering account in the Forex market, offering standard lots.
  • Provides a user-friendly trading environment suitable for traders of all levels.
  • Features floating leverage up to 1:1000, catering to both conservative and aggressive trading strategies.
  • Boasts a vast array of financial instruments – over 80, making it ideal for the seasoned trader.

Standard MT4:

  • Purpose: Suitable for traders looking for more flexibility and access to equity CFD trading.
  • Features: Allows standard lot sizes, increasing potential profits (or losses).
  • Minimum Deposit: $20, making it reasonably accessible for most traders.

Standard MT5 Account:

  • Purpose: For traders who prefer the MT5 platform, which comes with more timeframes, more order types, an economic calendar, and other enhancements compared to MT4.
  • Features: Offers equity CFD trading and the added functionalities of the MT5 platform.
  • Minimum Deposit: $100.
  1. Pro Account:
  • Targets professional, institutional traders, and hedge fund managers.
  • Offers a high-quality trading environment with no commissions or re-quotes, lower spreads, higher liquidity, and quicker execution.
  • It’s tailored to traders who deploy high-volume and sophisticated strategies.
  1. ECN Account:
  • Offers a direct connection with liquidity providers, such as banks and brokerages, via the Electronic Communication Network.
  • Promotes transparency as orders go directly to other market participants.
  • Perfect for traders looking for low to zero spreads, especially during volatile market conditions.
  • Features No Deal Desk technology, which eradicates re-quotes.
  1. Alpari.binary Account:
  • Purpose: Dedicated to binary options trading.
  • Features: Allows traders to predict the future price movement of underlying assets and earn a potential return based on the accuracy of their predictions.
  1. PAMM Accounts:
  • Purpose: Ideal for investors who prefer to have their capital managed by experienced traders. Also, for skilled traders who want to manage the funds of others in return for a share of the profits.
  • Features: Provides an opportunity to invest in forex without having to trade on your own and allows fund managers to earn additional income.
  1. Demo Account:
  • Purpose: Enables traders to practice trading without risking real money.
  • Features: Provides virtual funds and replicates live market conditions.

Deposits and Withdrawals 

Ease and Convenience:
Alpari has prioritized ensuring that the process of funding and withdrawing from trading accounts is both swift and hassle-free. The company’s dedication to refining and enhancing its services is evident in its transactional processes.

Multiple Payment Methods:
Alpari provides a variety of deposit and withdrawal avenues, such as:

  • Local Deposits
  • Credit Cards
  • E-Wallets
  • Bank Wires
  • China Union Pay
  • FasaPay
  • AdvCash
  • GC Pay
  • Local LatAM Online Banking & Terminals
  • Perfect Money
  • V Load e-vouchers
  • Asian Online Banking Solutions
  • WebMoney
  • TC Wallet

Security and Efficiency:

All financial transactions for verified clients are managed securely through Alpari’s back office. The company’s extensive lineup of twelve payment processors includes many region-specific options for its core markets. This ensures that traders across various regions, especially Asia and Latin America, can execute transactions smoothly. The only noticeable absence in their payment arsenal is cryptocurrency support.

Processing Times and Fees:

E-wallet withdrawals are processed within a business day, and most e-wallet deposits are credited instantly. However, traders should be aware of potential charges by third-party payment processors, currency conversion costs, and subsequent transaction fees. It’s also essential to note that the name on the payment method must match the Alpari trading account, a compliance with Anti-Money Laundering (AML) regulations. Some deposit methods do come with special offers like commission-free deposits. Yet, traders should verify any potential fees with Alpari’s customer service, as these might vary based on the region.

Trading Platforms 

Variety of Platforms:

Alpari ensures that traders have a wide range of tools at their disposal by offering them the widely respected Metatrader 4, Metatrader 5, and FIX Contract trading platforms. These platforms are renowned for their reliability, user-friendly interfaces, and a plethora of trading tools.

Device Compatibility:

Alpari’s platforms are accessible from various devices, ensuring traders can execute trades on the go. With available versions for:

  • PC/Desktop
  • Android devices
  • iOS devices

Special Features & Upgrades:

  1. Autochartist Plugin: This is a value-added feature that offers actionable trading signals, enhancing the trading experience and providing trading opportunities.
  2. Customizable Options: MT4, recognized as the industry leader in algorithmic trading, can be personalized with over 25,000 custom indicators, plugins, and Expert Advisors (EAs). However, top-tier quality upgrades might come at a cost.
  3. Dedicated Desktop Clients: Alpari provides dedicated desktop versions of the MT4/MT5 platforms, ensuring robust performance and user experience.
  4. Proprietary Mobile App: Bypassing the generic MT4/MT5 mobile apps, Alpari has developed its custom mobile application, tailoring it to the specific needs of its user base. This app, designed for both Android and iOS devices, is particularly suitable for copy traders and PAMM investors.
  5. Alpari Invest App: Alpari also offers “Alpari Invest”, a specialized mobile application designed for PAMM investors and copy traders. This app is built with a focus on easy investments, facilitating one-click operations.

Customer Support 

Diverse Channels of Communication:

Alpari ensures its traders are never left unattended by providing a plethora of avenues for communication. These include:

  • Live Chat: Instantaneous and real-time solution for queries.
  • Telegram: A modern approach to customer support, allowing traders to get answers on the go.
  • Phone Support: Direct line of communication for immediate concerns.
  • Webform: For non-urgent matters or detailed queries.

Multilingual Support:

One of the standout features of Alpari’s customer support is its multilingual capabilities. Catering to a global audience, this feature ensures that traders from different regions feel at home when seeking assistance.

Areas of Improvement:

While Alpari provides multiple channels for support, there seems to be a lack of clarity regarding their operational hours. Traders might find themselves at a loss if they need assistance outside the presumed working hours, especially if the issue is time-sensitive. Another area where Alpari can improve its customer experience is by providing a direct line to specialized departments like finance, where many trader concerns originate.

Furthermore, while Alpari does a decent job of describing its products and services, the FAQ section leaves much to be desired. An expanded FAQ can reduce the load on live support channels and provide immediate answers to common queries.

Community Engagement:

One of the unique aspects of Alpari’s approach to customer service is the utilization of forums. These forums not only serve as a treasure trove of information, where traders can find answers to many of their questions, but they also act as a platform for the Alpari community to engage, share, and learn from each other.

Research and Education 

Comprehensive Market Research:

Alpari offers a well-structured research section, facilitated by Autochartist. This provides traders with actionable trading signals, allowing for informed trading decisions. This service is supplemented with Alpari’s high-quality in-house research, which covers various segments such as Forex, cryptocurrencies, commodities, equities, and metals. The presence of detailed charts and concise descriptions makes it easier for traders to grasp the analysis and act accordingly.

Educational Content for Beginners:

Alpari has curated a variety of educational articles tailored for beginner traders. These articles span a range of topics including trading strategies, cryptocurrencies, trading psychology, and financial market analysis. Although the content offers a good introduction to trading, there’s room for expansion. Integrating video content, hosting webinars, and introducing structured courses can elevate the educational experience for novices.

In-Depth Analysis and Support:

One of Alpari’s strengths is its commitment to providing thorough analytical support. They tap into trusted sources for both fundamental and technical analysis. For instance, they utilize the Forex economic calendar for fundamental insights and rely on Trading Central for technical perspectives. The inclusion of signals from Autochartist further enriches their analytical offerings.

Trading Instruments

Alpari offers a wide range of trading instruments and asset classes catering to diverse trading needs. This includes Forex trading with currency pairs, spot metals, CFDs, cryptocurrency trading, and even binary options. They offer flexibility in their execution model, allowing traders to opt for either a Standard execution or an aggregated position model based on Instant Execution. 

Bonuses and Promotions

At the time of review, Alpari’s promotions were limited to a low-paying refer-a-friend scheme. However, their loyalty program, inclusive of cashback rebates and reduced trading fees in commission-based account types, serves as a more sustainable long-term benefit. While one-time bonuses or promotions can be enticing, consistent benefits like cashbacks often provide better value in the long run.

Account Opening Process

Alpari stands out for its swift and hassle-free online application process. With just basic details like name, e-mail, and mobile phone number, traders can start the registration process. This streamlined approach, without delving into unnecessary data collection, is commendable. However, in line with global AML/KYC norms, Alpari ensures that every trader goes through a mandatory account verification process, typically involving ID and residency proof submission.

Minimum Deposit

The minimum deposit requirement at Alpari is variable, depending on the account type. It can range from $0 to $500, making it accessible for traders with varying financial capacities.

Client Acceptance

Alpari boasts a wide client base accepting clients from numerous countries. However, there are exceptions. Traders from the USA, Japan, Canada, Australia, the Democratic Republic of Korea, the European Union, the United Kingdom, Iran, Syria, Sudan, and Cuba are not accepted.

Alpari Review Verdict

Credibility and Trust:
Alpari undoubtedly marks its presence as a credible and trusted broker in the trading arena. Having navigated through financial turmoils and economic downturns, Alpari has emerged as a sturdy platform with more than two decades of experience and over 2 million clients to its credit.

Trading Environment:
The strength of Alpari’s trading environment lies in its competitive low trading fees, especially with major currency pairs. The spreads are low, making it conducive for traders to participate in a low-risk environment. Their commission-based trading accounts offer tangible benefits, notably the loyalty program and cashback rebates.

Features and Offerings:
Alpari stands out for its PAMM investment infrastructure, dedicated mobile apps for trading and PAMM investments, and a wide range of payment options. The enhanced MT4/MT5 platforms integrated with the Autochartist plugin add significant value to the traders.

Drawing upon the extensive operational history and diverse offerings, Alpari positions itself as a reliable broker and partner for trading. Its resilience through economic challenges and continued commitment to deliver quality services solidifies its reputation. The company’s focus on learning, support, and attractive trading programs makes it an appealing choice for traders.

Alpari is a recommendable broker, particularly suitable for:

  • Beginning Traders: With comprehensive educational resources and user-friendly platforms.
  • Forex Traders: Given its competitive spreads and low fees.
  • MT4/MT5 Enthusiasts: Alpari’s enhanced MT4 and MT5 platforms are a delight.
  • EAs Operators: The platforms support algorithmic trading seamlessly.
  • Islamic Account Holders: Offering Sharia-compliant trading accounts.
  • Low Deposit Traders: With minimal deposit requirements.
  • Contest Enthusiasts: Alpari’s Forex contests can be enticing.
  • Diverse Strategy Traders: Alpari caters to a variety of trading strategies.

Given the myriad of features, robust platforms, and years of industry experience, Alpari is undeniably a top choice for traders across the spectrum.

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