Alpari International Review
Alpari International Review
This Alpari International review dives into a quality STP/ECN broker with a rich history. Boasting more than two decades of experience in the forex industry, this broker makes clients their top priority.
Offering a variety of account types, advantageous trading conditions, and quality customer service, Alpari International is a good option for traders, from beginners to professionals.
As a beginner, you’ll be able to enjoy access to a free demo account, a micro account, and social trading.
If you’re an experienced trader, not only can you enjoy ECN trading, but you can also make some extra cash by becoming a Strategy Manager. As a Strategy Manager, other traders can copy your trades, and you make a percentage of their earnings.
This broker also caters to professional and institutional traders with dedicated accounts.
Keep reading our in-depth Alpari International review to discover the unique trading experience this trustworthy broker offers.
- Diverse selection of tradable assets
- Attractive bonuses and cashback program
- Low minimum deposit
- Great leverage and social trading available
- Best broker for copy trading accounts
- Limited educational resources
- Lack of research tools
The Alpari brand was founded in 1998 by a group of Russians. They quickly earned a good reputation and became highly popular. Since then, they have expanded their operations on a global scale, with offices all over the world. In 2016, Alpari International moved its headquarters to Mauritius.
By the end of 2017, Alpari International had grown to an annual trading turnover of $1.3 trillion. Currently, the broker boasts more than 2 million clients.
Alpari International achieved this growth through its dedication to maintaining a high standard of excellence and putting its customers first. They pride themselves on offering a reliable, trustworthy, and technologically advanced trading environment, along with outstanding customer service.
This broker has earned a series of awards, including FX Empire Awards’ 2017 Most Innovative Broker and 2017 Most Reliable Broker for binary options.
Though they serve a large part of the globe, Alpari International does not accept clients from certain countries. These include the United States, Canada, New Zealand, Mauritius, Japan, Russia, and Ukraine.
Alpari International regulation and licensing
Our Alpari International Review team discovered that this broker is licensed by the Financial Services Commission of Mauritius, with license number C113012295. They obtained this license in 2013.
While the Financial Services Commission of Mauritius is not the strictest regulatory body in the world, it is still effective at ensuring licensed brokers deliver quality services to their clients.
This broker is also a member of the Financial Commission. An international and independent organization, the FC offers brokers and traders a way to resolve disputes using an objective third party.
This organization also has a compensation fund that provides coverage for all member brokers’ clients. This means that, as an Alpari International trader, you will be covered up to EUR 20,000 in the unlikely event that the broker is unable to fulfill its financial commitments to you.
Like any reputable broker, Alpari International keeps its clients’ funds in segregated accounts. If the broker goes bankrupt, client funds cannot be used to cover their outstanding financial obligations.
This broker also guarantees that they take all the precautions required to keep your personal information safe.
While conducting our Alpari International review, we found that this broker offers a variety of account types tailored to different levels of trading experience. They also offer both STP and ECN accounts.
There are two STP accounts, namely the Standard Account and the Micro Account. Both account types can only be used with MetaTrader 4 (MT4).
The Micro account is tailored for novice traders. It features a low minimum deposit of $5, average spreads starting at 1.7 pips, and the ability to trade with micro lots. With this account, you can trade 25 currency pairs and 2 spot metals. It offers a fixed leverage of 1:400.
The Standard account is designed for all traders, regardless of their experience level. It has a minimum deposit of $100 and spreads starting at 1.2 pips. This account offers floating leverage from 1:1000 and allows you to trade 61 currency pairs, 5 spot metals, and 14 spot CFDs.
The ECN account features spreads starting at 0.4 pips, commissions of $1.5 per lot per side, and a minimum deposit of $500. It comes with floating leverage from 1:1000. The assets you can trade vary slightly depending on the trading platform you use.
If you choose MetaTrader 4, this account allows you to trade 56 currency pairs, 3 spot metals, 14 spit CFDs, and 4 cryptocurrencies.
With MetaTrader 5 (MT5), you won’t be able to trade cryptocurrencies at all and only 13 spot CFDs are available. However, you do gain access to an additional currency pair over MT4.
The Pro account is also an ECN account and is designed for hedge fund managers, professional, and institutional traders. It promises more attractive spreads, faster execution, and greater liquidity.
The minimum deposit is $25,000, spreads start at 0.4 pips, and it comes with floating leverage from 1:300. You can trade 54 currency pairs and 3 spot metals using this account.
All the accounts have a swap-free version, making them ideal for Muslim traders. It should be noted, though, that this doesn’t apply to MT5 users.
Social trading, demo accounts, and copy trading
Our Alpari International review team also discovered that this broker offers a stock trading account and a social trading account.
The social trading account, known as Alpari CopyTrade, will allow you to take advantage of the knowledge and skills of more experienced traders, referred to as Strategy Managers.
If you’re a beginner, this type of account is a great option. It allows you to automatically copy the trades of Strategy Managers. Essentially, you choose the Strategy Managers you want, then the system will automatically make the same trades they do.
This way, you can earn a profit from trading while you are still learning how to trade effectively yourself. It will only cost you a small percentage of the profit you make on those trades, which goes to the Strategy Manager.
The Alpari CopyTrade system is beneficial for experienced traders too. It offers you another way of making some extra cash without doing anything different from what you normally do. As a Strategy Manager, you earn 10% of the profits made by every trader who follows you.
Our Alpari International review experts were pleased to see that this broker offers demo accounts with no restrictions. As a novice trader, you’ll be able to learn how to trade effectively in real market conditions with no risk.
We were even more impressed that they offer demo versions of all their live forex accounts, except for the Pro account. This means that you can test out the different accounts this broker offers, which will make it easier to decide on the best option for your needs.
Alpari International trading costs
The cost of trading with Alpari International varies based on the account you open. For example, the Standard and Micro accounts charge no commissions, but spreads start at 1.2 pips and 1.7 pips, respectively.
The ECN and Pro accounts feature spreads starting at 0.4 pips. The ECN account, however, also charges a commission of $1.5 per lot per side.
While not the most competitive on the market, this broker charges spreads on par with many other reputable brokers. The commission they charge on the ECN account, though, is quite competitive.
In terms of swaps, Alpari International has fees that are in line with many other reputable brokers and market averages.
Our Alpari International review team found that this broker doesn’t charge anything for deposits. However, some withdrawals are subject to fees, though some are free.
Credit card withdrawals incur a fee of $3, while fees on e-wallets range from nothing to 2% of the amount being withdrawn. Bank transfers will cost you EUR 30. Some local withdrawal options do not incur any fees, such as Turkish, Afghan, and Indonesian local transfers.
Alpari International also charges an inactivity fee of $5 for accounts that haven’t been used for a minimum of 6 months.
Alpari International payment methods
During our Alpari International review, we were pleased to discover that this broker offers a wide range of payment methods. Some clients can even take advantage of local payment solutions.
You can deposit and withdraw funds using most major credit cards and via bank transfer. You can also use several e-wallets, including Neteller, Skrill, and WebMoney, as well as Bitcoin. A variety of alternative payment solutions are also available, including Online Banking Indonesia, Indian local transfer, FasaPay, and Globepay.
Deposit processing times range from instant to 2 business days. Bank transfers, however, take between 3 and 5 business days. It should be noted that Alpari International states they managed to process 94% of deposits in 2019 in less than 5 minutes.
Withdrawal processing times vary between 24 and 48 hours, depending on the payment solution you use. Latin American solutions via Skrill take between 3 and 4 business days to process. However, keep in mind that it might take longer for the money to be credited to your account, especially if using a credit card or bank transfer.
Alpari International trading bonuses
Our review of Alpari International forex broker uncovered that this company offers frequent bonuses, including deposit bonuses. To discover what bonuses are available, check out the broker’s website.
This broker also offers a loyalty cashback program and a referral program. The cashback scheme allows you to earn back up to $5 per trade, up to a total of $10,000.
The referral program allows you to earn $50 for every friend you refer, up to a total of $10,000. Furthermore, the person you referred also receives a $50 bonus.
Alpari International trading platforms
The Alpari International online forex broker website is clean, simple, and attractive. The information is effectively organized and easy to find. It also has an extensive FAQ section that you will likely find very useful.
Like with any other trusted broker, when opening a live account, you will have to go through an adequacy assessment and supply some personal details. To verify your account, you’ll also have to provide documents proving your identity.
To open a demo account, you’ll have to provide a little more information than many other brokers require. While most brokers are satisfied with just your name and email, Alpari International also requires a phone number. They then send a PIN to your phone, which you need to register.
This procedure is fine if you want to open a live account, but our review team found it to be overkill for a demo account.
In terms of trading platforms, Alpari International offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are very popular as they offer a comprehensive range of analytical and charting tools. They also allow the use of automated trading through excerpt advisors.
This broker also offers the WebTrader versions of MT4 and MT5, meaning you can trade without installing anything on your computer or other device.
While not quite as impressive as their desktop counterparts, the web browser version of MT4 and MT5 still provide all the tools you need to trade effectively.
In terms of research and trading tools, our Alpari International review team was unimpressed. This broker offers no such tools, not even a simple economic calendar.
Of course, you can find all the tools you need to trade effectively online, so it isn’t a deal-breaker. However, we would have liked to see this broker put a little effort into providing traders with more resources.
The Alpari International online broker website is mobile-responsive. This means that you can easily check anything you need, using any mobile device.
This broker also offers the mobile versions of MT4 and MT5, so you can trade wherever you are.
Education and training
Our Alpari International forex broker review team was disappointed to see that the educational resources on offer are quite limited. They offer a beginner’s guide, which is extremely basic, as well as a very short overview of some trading strategies.
What we found a little more pleasing was that they offer trading webinars covering more topics. These include an introduction to forex, the principles of technical analysis, price action, and more.
While the webinars do go more in-depth and cover a broader range of topics, the problem is that they are only available on certain days and times.
If you’ve missed one, you won’t know how long you have to wait for them to cover that topic again, as you certainly can’t go back to view it as recordings aren’t available.
Alpari International customer support
While conducting our Alpari International review, our experts also tested their customer support team. They were quick to respond, knowledgeable, and willing to help, which is a big plus.
Customer support is available in multiple languages, including English, Indonesian, Spanish, and more. You can reach them via live chat, phone, or email.
Support is available 24 hours from Monday to Friday, from 11 AM to 4 PM on Saturdays, and from 12 PM to 8 PM on Sundays. All times are GMT+2, or GMT+3 Daylight Savings Time.
Alpari International – Our verdict
Our Alpari International broker review team has concluded that this broker is reputable and offers excellent services. Their services are ideal for any trader, regardless of level of experience or trading volumes.
As a beginner, you can take advantage of the free demo accounts until you feel comfortable, and you can then graduate to the Micro account. This way, you can better understand the psychology of trading with real money without a lot of risk.
More experienced traders can take advantage of very competitive spreads and ECN trading. You can even make extra cash just by signing up to be a Strategy Manager.
Other traders follow your trades and you earn a percentage of their profits, all without having to do anything other than trading as you normally do.
Even if Alpari International could do more in terms of providing trading and research tools, as well as educational materials, our review team is still happy to recommend this broker.
Sign up for an account with this reputable and experienced broker today to enjoy an outstanding trading experience.