Alpari Forex Broker Review – Is This Broker Legit Or A Scam?

About Alpari

Alpari Financial Services Ltd (Alpari FS) is among the world’s best independent forex brokers and online trading services providers. The group is internationally recognized for its innovative technological solutions record. Alpari FS is a member of the Investor Compensation Fund and is regulated by the Cyprus Securities and Exchange Commission (CySEC). The group allows its clients to trade different financial instruments, including spot metals and forex in the international currency market. Its primary goal is to provide clients with a first-class trading platform to meet their user’s standards and expectations.

Alpari Account Opening

Alpari FS offers a straightforward method of opening accounts, with no minimum initial deposit applying the standard accounts. To open an account, you will need the following documents:

• National ID/ driver’s license
• Proof of residence documents such as utility bills

They currently offer their traders six different accounts:

• Nano MT4 account
• Standard MT4 account
• ECN MT4 account
• Pro ECN MT4 account
• ECN MT5 account
• Demo Account

The minimum deposit requirement for the Nano MT4 account is $0, while that of the Standard MT4 account is $100. The Pro ECN MT4 account has a minimum deposit requirement of $500, while the ECN MT5 is a relatively new addition with no minimum deposit requirement.

Alpari Product Offerings (what you can trade)

Alpari gives traders access to almost 50 forex pairs and 30 CFDs on commodities, indices, Bitcoin, and precious metals. (Stock CFDs, index CFDs, spot metals, and commodity CFDs.) Besides, the broker provides its account investors with structured products, PAMM funds, and social trading. A binary option is also made available on the platform.

Commission And Fees For Alpari

Commissions and fees at Alpari FS vary depending on the particular account you use to trade. For instance, the ECN MT4 account is listed at 0.8 pips, and the NANO MT4 account registered at 2.0 pips on the EUR/USD pair.

Besides the Nano account, which does not have a minimum deposit, the minimum account balance for the other accounts range between $300 to $ 500. The method of execution also varies depending on the type of account one has opened.

Additionally, the broker offers commission-based pricing for the ECN MT5, and PRO ECN accounts commission rate is currently $16 per million or 0.32 pips($32 round turn. The ECN MT5 account is the most competitive among the rest of the offerings regarding the spread trading fees and all-in cost commissions.

Alpari Platforms And Tools

Alpari FL works as a Metatrader-only broker. This means that it gets its software  purely from Meta Quote Software Corporation, a widely known developer for MT4 and MT5 platforms for mobile, desktops, and web.

While the Meta 4 and 5 traders vary from one broker to another on the platforms, there are minor set up differences regarding the account types, commission. Method of exception and trading spreads.

The Alpari Meta trader platform differs from the other brokers in these ways:

• Fees and commission vary depending on the type of account used
• The platforms news and headlines are streamed from the Dow Jones Newswire
• MT4 and MT5 spreads differ for the same instruments depending on the type of account  

If you like managing your trades right from your phone, you can always do so with Metatrader mobile app. Download your apps from both android and IOS markets.

Alpari also offers a social trading service. Social trading has brought a whole new dimension to forex trading. Follow expert traders, learn from them, and get the market sentiments from the best in the market.

Automated trading programs can be run on Alpari platforms. These programs analyze the market and make trading decisions. No input is needed; they trade autonomously and close deals whenever the conditions are right.

Alpari Differentiators

Alpari compares well to most of the industry firms regarding diversity to meet with the ever-rising market demands and technical training capabilities. But perhaps, its most salient feature is the great emphasis on informational and educational services. The group’s presentation of educational materials is done as per the forex market spirit, where most of the experienced traders share their ideas.

Alpari Customer Service

The broker offers excellent customer service to its traders, as evidenced in the generous support of informational materials on its website. The group also has a 24/7 online service that readily attends to the customer’s queries. As a broker who develops its software, the Alpari customer support team responds to bugs and glitches much faster than the standard MT4 brokers.

Some clients have, however, noted that their customer service professionalism does not meet their expectations. Their overall customer support is nonetheless excellent. I would give them a rate of 6 on a scale of 10.

You can reach them through:

• Alpari website
• Facebook
• Twitter         

Why Alpari Is Worth A Try

Alpari has a remarkable process of signing up. With three MT4 account options and two MT5 options, traders get a wide array of options when considering the execution type, the applicant’s spreads, and the range of markets.

Alpari guarantees its traders a high-value delivery and as well as quick access to the forex market. With a few margin requirements and competitive accounts, Alpari FC is an excellent broker that you should try out.

Trustworthiness

Trust is the key to successful forex broker transactions. Unfortunately, forex scams and frauds are common in the market. The Alpari FS group has, however, maintained the most extensive regulatory database to win their clients’ trust. Above all, the broker is regulated by various bodies, including the FCA and the European Union. It is CFTC registered and is currently being authorized by SFC Hongkong, IIroc CANDA, FINMA Switzerland, and CySEC Cyprus, which add a plus to its trust score. Their consistent efforts to offering fast and transparent transaction is also a signal that you can trust them. With this broker, you are guaranteed that your funds are safe.

Conclusion: Alpari

The Alpari FS group offers the most attractive packages to retail forex beginners. The platform and website are designed to cover the needs of the less-experienced traders or those who are just starting their forex trading. Its informational website content is, however, one of the best seen in the world.

Overall, Alpari FS broker has an unusually rich selection of materials available to both standards and demo accounts. The group has proven itself to be among the most competitive players in the world of FX brokers. It’s a valid choice that you can always consider, provided it suits your vision and trading plans.