Founded in 1998, Alpari is an online forex broker which is part of the Alpari family (a group of firms internationally recognized for its track record of innovative technological solutions). On their website they listed the members of the group, as well as their licenses number and addresses:
- Alpari Limited, Cedar Hill Crest, Villa, Kingstown VC0100, Saint Vincent and the Grenadines, West Indies, is incorporated under registered number 20389 IBC 2012 by the Registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines.
- Alpari Limited, 60 Market Square, Belize City, Belize, is incorporated under registered number 137,509, authorized by the International Financial Services Commission of Belize, license number IFSC/60/301/TS/18.
- Alpari Research & Analysis Limited, 17 Ensign House, Admirals Way, Canary Wharf, London, United Kingdom, E14 9XQ (financial research and analysis for the Alpari companies).
Their list of products contains: forex, CFDs, cryptos and binary options. The website is available in 14 languages and investors from the US cannot trade with them.
Account types and deposit options from Alpari.com
Their initial deposit demands depend on the account type but also the platform you choose. They offer the following account types: standard MT5/MT4, pamm standard MT5/MT4, ecn MT4, pamm ecn MT4, nano MT4, pro ecn MT4/MT5, pamm pro ecn MT4/MT5. The nano account doesn’t require an initial deposit, while the amounts for the other account types range from $300 to $500. For additional commissions and fees, we encourage you to visit their website and read the parameters of each account type.
The PAMM account is a service created by Alpari which allows investors to earn money on forex without trading themselves. A manager takes over and manages multiple investors funds, which can lead to additional income on all sides.
This broker also provides the possibility to open a demo account and trade with virtual money.
Platform at Alpari.com
Alpari offers the Metatrader 4 and Metatrader 5 interfaces. The popular MT4 is always a good and safe choice. It goes without saying that it is extremely user-friendly and has the entire needed features for a successful trade, such as: auto trading systems (Consultancy Experts), interactive customizable charts and built-in market for Expert Advisors and Custom Indicators.
MT5 is the improved version of the MT4 software (at least that’s what it’s supposed to be) and it has a few extra perks such as tools for price analysis and the use of algorithmic trading applications.
Customer support service from Alpari.com
You can contact them via e-mail, live chat or telephone. Their client support is available from 6:00–19:00 GMT, Mon–Fri and you can reach their operators 24 Hours a Day, Mon–Fri.
On their website you can find ways to get in touch with more of their departments. We tried to cover them all and as a rate from 1 to 10, we give them only 5 points. Some of the services were impeccable, while others were extremely unpleasant or vague.
The safety of your capital with Alpari.com
Alpari has so many licenses and PDFs for each policy, condition and even privacy policies and copyrights that it’s hard to say there’s something wrong or incomplete. We strongly encourage you to take time and read all the information regarding the security of your funds, as well as their regulatory documents and agreements.
Advantages of Alpari.com
Offering the MT4 software is already a big plus, but adding the MT5 interface, as well? That’s a huge plus! Also, they stay very well at the safety and legal documentation chapter.
We spotted two features which made this online broker stand out: the Alpari Charitable fund and the Contests section on their website. We don’t see that every day so we must admit it was a very pleasant discovery. In addition, their bonus packages are very appealing.
Disadvantages of Alpari.com
Alpari is a top broker from some points of view, but unfortunately, there are some disadvantages that diminish its value. The account types and deposit options along with all the fees are just too much; very vague and expensive, two features that can be extremely intimidating for any trader.
It’s too divided! For example, the offered products are segmented across global brands and at the research center; there is way less English content from Alpari Research & Analysis Limited and third-parties than there it is in Russian.
The customer support services aren’t overall professional and prepared.
Alpari.com – gem or scam?
Even if it’s been on the market for so long and it has an inspiring history, Alpari cannot be positioned as a top online forex broker. It lacks a lot of things and many others can be improved. While it has its perks and unique features, we advise to take a closer look and think twice before opening an account with Alpari.