Choosing a broker is critically essential for Forex traders. Alpari is one of the leading players in the market, and opinions about its services vary. In our review, we will examine the critical aspects of Alpari's operations to determine how effective trading through this broker is and whether it deserves your attention.

Alpari Broker Overview

Alpari is a financial company founded in 1998. Its primary line of business is providing brokerage services in the Forex market.

The broker implements two quoting methods - Standard (bringing the aggregate position of accounts to the market) and ECN (a model in which all user orders are automatically brought to the market).

Alpari Review Summary

Ratings were compiled according to our broker analysis methodology, which considers all the crucial aspects affecting trading success and satisfaction with the broker's services.

Read on to learn more about the Alpari broker.

Legal Entity	Regulator
Alpari (Comoros) Ltd Alpari (Comoros) Ltd	MISA MISA
ООО "Альпари Евразия" ООО "Альпари Евразия"	НБ РБ НБ РБ

Alpari is a well-known broker with an international reputation, founded in 1998. Previously, LLC "Alpari-Broker" was included in the registry of licensed dealers and professional participants in the securities market of the Central Bank of the Russian Federation. Today, Alpari is no longer on the list of brokers licensed by the Central Bank of the Russian Federation.

Alpari is regulated in the Comoros Islands and Belarus, which provides some degree of protection for its clients.

However, it should be noted that licensing in a jurisdiction like the Comoros Islands does not offer the same level of investor protection as licensing in countries with more developed and stringent financial regulators, such as the United Kingdom (FCA) or the United States (CFTC).

The registration process and account opening with Alpari appear to be quite simple, convenient, and relatively quick. However, it is important to consider that the verification process may take some time, which is a standard practice in the field of online trading.

How to register with Alpari

To register on the Alpari website, you must fill out a simple form: first name, last name, phone number, and email address. You will also need to give consent to the processing of personal data.

After submitting the form, you will need to confirm the registration via a link that will be sent to your email. Once your account is authorized, you will gain access to the trading platform and all the site's materials.

After registering, you automatically become a participant in the Alpari Cashback.

Alpari Personal Account Overview

To access the client's area, use the address https://alpari.com/en/login/.

In the Alpari Personal Account (PA), you can:

• Open a trading account;
• Invest in PAMM accounts;
• Deposit funds;
• Withdraw funds;
• View and take advantage of Alpari's promotions and offers;
• Download trading platforms or mobile applications;
• Apply for trading education;
• Activate a promo code;
• Verify your account.

We will talk about all this in more detail in the review.

If you ever want to delete your account, contact Alpari support - they will send you instructions on how to do so.

Account Verification

When depositing or withdrawing funds using specific methods, Alpari may request some documents to confirm your identity or address. It is better not to delay this and to verify your account before funding your trading account.

To start verification in your client's area, go to the "My Account" -> "Client Profile" tab.

Fill in the missing information on the client card.

Documents for identity verification:

• Internal passport;
• International passport;
• ID card.

Documents for card or bank transfer verification:

• Bank statement.
• Scan of the bank card.
• Scan of the payment document. Additionally, you may be required to upload a Client Questionnaire.

You can find information about the documents you have uploaded in the "History of Changes in Personal Data" section.

Minimum Deposit

The minimum deposit for Alpari varies depending on the type of account. For instance, "Standard" accounts have a minimum deposit of 20 USD, and "ECN" accounts require a minimum deposit of 300 USD.

Alpari offers a wide selection of trading accounts that should meet the needs of most traders and investors.

Alpari Trading Accounts

Alpari provides traders with 5 types of actual trading accounts for independent trading: Standard.MT4 and MT5, and 3 types of ECN accounts, 5 types of demo accounts, 5 PAMM accounts for management, and 1 for trading binary options (Fix-Contracts).

We will get to know each type of account and their conditions in more detail. This will help you choose the account that is right for you.

Standard Accounts

ECN Accounts

ECN accounts provide direct access to external liquidity providers, allowing for trading large lots with a leverage of up to 1:3000.

If your robot or expert advisor aggressively constructs a grid of orders or trades, an ECN account is the best choice for automated trading.

Demo Account

To open a demo account, log into your client's area in the system after completing a simple registration procedure.

You can set up a training account in any of the following currencies:

• USD;
• EUR.

You can use a demo account for an unlimited amount of time.

Types of Demo Accounts

Binary Options

Trading binary options is carried out through the Fix-ContractsTrader platform. Choose an asset and the direction of its price movement.

Under the "Fix-Contracts" tab, there is a built-in pro-account with a virtual $10,000. You can try your hand at this account without risking your funds.

To trade binary options, select the account type alpari.fix-contracts.

Account currencies for binary options:

• USD;
• EUR.

Types of binary options contracts

You can refer to the Fix-Contracts platform for a more detailed look at the nuances of trading binary options with Alpari.

Also, look at our binary options brokers list.

PAMM Accounts

The brokerage company Alpari launched the PAMM account system over 15 years ago, in 2008.

Alpari offers the option to open a PAMM account for users just starting to work on the exchange. By opening such an account, you entrust your investments to managers – more experienced market participants.

If your experience of positive transactions qualifies you to register as a PAMM account manager, this becomes an opportunity to attract investors' funds and earn significantly more.

PAMM Account Rating

A list of PAMM accounts, sorted by specific indicators, will help you choose and invest in a profitable PAMM account.

Alpari currently operates two ratings for PAMM accounts - active and conservative. Let's see how both ratings distribute places and evaluate the effectiveness of a PAMM account.

Dynamic Rating

The distribution of places in the dynamic rating is elementary and consists of just two blocks:

1. PAMM accounts with positive profitability and a public offer open for investment.
2. All other PAMM accounts.

The following indicators assess the effectiveness of PAMM accounts in the dynamic rating:

• The current drawdown ratio is the current share price ratio to the maximum share price at any time.
• The growth coefficient for a week/month/quarter/year/all time - the ratio of the current share price to the maximum closing price of daily candles before the start of the period. If the value is less than one, the coefficient is set to 1.
• The adequacy coefficient of the manager's capital - is based on criteria determining the size of the manager's capital participation in the funds of the entire PAMM account.

A share is an indicator of monitoring that reflects the investor's share and their investments in the composition of the PAMM account.

The share price is an indicator that reflects the change in funds on the PAMM account, taking into account only the result of trading operations. The share price is equal to the ratio of funds to the number of shares of the PAMM account. When a PAMM account is activated, the initial share price is 100 units of the deposit currency.

Conservative Rating

There are three blocks of place distribution in the conservative rating:

1. PAMM accounts with a history of at least 3 months, positive profitability, an open public offer, and a manager’s capital of at least 3,000 USD / 3,000 EUR.
2. Other PAMM accounts that are actively trading.
3. PAMM accounts without a trading history.

The efficiency formula for evaluating PAMM accounts uses such indicators as:

• Profitability.
• UCL (Used Credit Leverage).
• Recovery Factor.
• Volatility.
• Age.
• Maximum Drawdown.
• Efficiency Coefficient.

How to Choose a PAMM Account for Investment

The PAMM account rating helps to filter out relatively quality PAMM accounts, but this may not be enough for investment decisions. Fortunately, you can open the page of the PAMM account you're interested in to get more details.

On the PAMM account page, you can observe:

• The profitability chart of the PAMM account for all time or a specific period;
• The conditions for investing in the PAMM account;
• The chart of changes in the traded funds on the PAMM account;
• A diagram of the distribution of funds;
• The chart of the used leverage;
• The trading indicators and coefficients of the PAMM account;
• The declaration of the PAMM account;
• A profitability calculator and a chart comparing the profitability of assets;
• The latest messages from the PAMM account thread on the Alpari forum.

All this is designed to help you determine whether a PAMM account is suitable for investment. Based on these indicators, you can ascertain how the manager trades:

• Aggressively or conservatively;
• With what risk/drawdown/profitability/leverage;
• Manually or using a robot/advisor;
• Whether the manager adheres to the declaration or not;
• What trading strategy does the manager use;
• How long the PAMM account has been in existence;
• Whether the manager reports or at least communicates with their investors;
• What are the terms for investing?

These are the minimum questions an investor in PAMM accounts should consider.

How to Invest in PAMM Accounts

When choosing a PAMM account or portfolio, you must acquaint yourself with the manager's offer. In the offer, the manager specifies:

• The minimum investment amount;
• The level of remuneration;
• The frequency of order execution.

There are also minimum requirements when investing in a PAMM account.

You can invest in a PAMM account through your client's area. Naturally, you must have at least the minimum amount required for investment in your account balance.

How to Open a PAMM Account

Becoming a PAMM account manager is relatively straightforward. First, you need to open an account to manage investors' funds. Accounts of the Standard and ECN types are available for this purpose.

You can make a PAMM account non-public. In that case, it will only be accessible via a direct link and will not be displayed in the PAMM account ratings.

Next, you should fund the account and fill in all the necessary information for the PAMM account.

Do not forget that before trading on the PAMM account, you must complete full verification in your client's area.

After the steps described above, you can trade on the PAMM account and attract the first investors.

The manager's remuneration can range from 0 to 50% of the investor's profit.

PAMM Portfolios

At Alpari, you can also invest in PAMM portfolios. A PAMM portfolio comprises several PAMM accounts, usually with different trading styles.

To select a suitable portfolio, Alpari has compiled a ranking of PAMM portfolios. All portfolios in the ranking meet the following criteria:

• Positive profitability;
• Availability for investment;
• The portfolio was created more than 3 months ago;
• The non-withdrawable remainder of the manager is at least 1,000 USD / 1,000 EUR.

On the PAMM portfolio page, you can familiarize yourself with:

• The profitability chart of the portfolio for all time or a specified period;
• The structure of the PAMM portfolio;
• The trading indicators of the PAMM portfolio;
• The chart of the used leverage;
• The latest messages in the forum thread about the portfolio.

How to Assemble Your PAMM Portfolio

Indeed, you can compile your own PAMM portfolio. For this, you can use the PAMM portfolio constructor, which is available in the main menu of the Alpari site.

You can add a PAMM account to the portfolio by clicking the corresponding icon on the PAMM account page.

When compiling a portfolio, consider the minimum requirements.

Alpari has low trading commissions, but potential withdrawal fees and inactivity charges may deter some clients.

Trading Fees

Trading commissions at Alpari mainly consist of spreads and transaction fees on ECN accounts.

Commission per lot

For ECN accounts, the broker charges a $16 per million turnover commission. This rate is quite competitive and should attract traders who prefer this type of account.

Below are the commissions per lot for the EURUSD pair at different Forex brokers.

Spreads

Spreads on key currency pairs such as EUR/USD, USD/JPY, and GBP/USD are competitive and slightly above the industry average. Swaps are market average.

The table lists the average spreads and swaps in points for the Standard account.

Withdrawal Commission

Alpari usually does not charge a withdrawal fee, but a fee may sometimes be applied. Suppose a client requests a withdrawal without trading activity following the last deposit or any abuse is detected. In that case, the company may charge a fee of 3% of the total withdrawal amount.

Inactivity Fee

If a client's account remains inactive for 6 months, Alpari may charge an inactivity fee of $5 per month. This is important to keep in mind for traders who do not plan to use their trading accounts regularly.

Loyalty Program (Alpari Cashback)

Alpari operates a loyalty program on its site. ALP bonuses and points are awarded for account replenishment, successful transactions, and other operations. The Alpari Cashback program also compensates for part of the system's commission:

• Up to 20% compensation of the spread;
• Up to 20% compensation of commissions on ECN accounts;
• Up to 100% compensation of the account replenishment commission;
• Up to 40% compensation of conversion expenses.

Broker Alpari offers flexible and competitive conditions for depositing and withdrawing funds, making it an attractive choice for traders.

Deposits and withdrawals are facilitated through bank transfers, Visa and MasterCard transactions, internet banking (Sberbank Online, Alfa-Click, etc.), electronic transfers (Skrill, WebMoney, etc.), and cryptocurrencies.

The commission charged by payment systems can vary. However, this is standard practice in the industry, and the absence of a commission from the broker is a significant advantage.

The transaction processing speed also depends on the chosen payment method, and while some may take longer, overall, the process is relatively swift.

Account Funding Methods

The system's commission ranges from 0% to 4%, depending on the account funding method. The system's loyalty program covers part of the commission.

We will look in more detail at how to replenish through payment systems.

Payment System	Currencies	Deposit Fee	Operation Limit
Perfect Money	USDEUR	0.5%	—
VLoad	USDEUR	0%	from 10 to 25000 USDfrom 10 to 25000 EUR
AdvCash	USDEURRUB. . .show all	0%	up to 5000 USDup to 5000 EURup to 100000 RUB. . .show all
WebMoney	USDEUR	0.8% limitscommission limits	—
Касса24	KZT	4%	from 200 KZT
Neteller	USDEUR	4%	up to 37500 EUR
Wallet One	USDEUR	2.7%	—
Skrill	USDEUR	1.4%+ 0.29 EUR limitscommission limits	from 10 to 10000 EUR
TC Pay	USDEUR	0%	up to 50000 EUR
Swift	USDEURRUB	0%	from 100 USDfrom 100 EURfrom 5000 RUB
Visa	USDEURRUB. . .show all	2.5%	from 5 to 10000 USDfrom 5 to 8500 EURfrom 300 RUB. . .show all
Mastercard	USDEURRUB. . .show all	2.5%	from 5 to 10000 USDfrom 5 to 8500 EURfrom 300 RUB. . .show all

Cryptocurrency	Blockchain	Deposit Fee	Operation Limit
USDT (Tether)	Omni	0%	from 251 USDT
USDT (Tether)	ERC20	0%	from 251 USDT
BTC (Bitcoin)	BTC	0%	from 0.01 BTC
ETH (Ethereum)	ERC20	0%	from 0.03 ETH
LTC (Litecoin)	LTC	0%	from 0.1 LTC
ZEC (Zcash)	ZEC	0%	from 0.05 ZEC

Account funding in cryptocurrency is carried out without a commission from the broker, but you will need to pay the blockchain commission for the transaction.

Withdrawal Methods

The same methods available for depositing are also available for withdrawals. However, commissions and limits for withdrawing funds may differ.

Payment System	Currencies	Withdrawal Fee	Operation Limit
Skrill	USDEUR	2.5% limitscommission limits	—
VLoad	USDEUR	6%	from 10 USDfrom 10 EUR
Perfect Money	USDEUR	0.5%	from 1 USDfrom 1 EUR
Neteller	USDEUR	0%	from 1 to 2500 USDfrom 1 to 2500 EUR
TC Pay	USDEUR	0%	up to 50000 EUR
WebMoney	USDEUR	0.8% limitscommission limits	—
AdvCash	USDEURRUB. . .show all	2%	from 1 to 5000 USDfrom 1 to 5000 EURup to 100000 RUB. . .show all
Swift	USDEURRUB	0.1% limitscommission limits	from 100 USDfrom 100 EURfrom 5000 RUB
Visa	USDEURRUB. . .show all	1.2%+ 35 RUB limitscommission limits	up to 1500 USDup to 1200 EURfrom 150 to 14999 RUB. . .show all
Mastercard	USDEURRUB. . .show all	1.2%+ 35 RUB limitscommission limits	up to 1500 USDup to 1200 EURfrom 150 to 14999 RUB. . .show all

Cryptocurrency	Blockchain	Withdrawal Fee	Operation Limit
BTC (Bitcoin)	BTC	0.1%	from 0.01 BTC
ETH (Ethereum)	ERC20	0.1%	from 0.03 ETH
LTC (Litecoin)	LTC	0.1%	from 0.1 LTC
ZEC (Zcash)	ZEC	0.1%	from 0.05 ZEC

Note that withdrawing to a bank card (including to a ruble account) is more favorable than account replenishment. The best method for withdrawing funds is Neteller.

The overall selection of assets available for trading with broker Alpari offers a diverse range that can satisfy the needs of most traders.

Out of the 60 available assets for trading, traders can choose from 46 currency pairs on the Forex market, offering extensive opportunities for currency trading.

Trading in metals is limited to just two pairs - gold and silver. Although this is a somewhat limited choice, these two metals are the most popular among traders.

In addition, traders can trade CFDs on various assets, including oil, indices, stocks, and even cryptocurrencies. The maximum leverage varies depending on the type of asset, reaching up to 1:3000 for major currency pairs.

However, it's important to note that Alpari cannot trade CFDs on exchange commodities.

What markets are available?

Alpari offers the following asset classes for trading compared to other brokers:

Leverage

Let's consider the maximum leverage available depending on the trading instrument.

Alpari offers a wide range of trading platforms that will undoubtedly meet the needs of most traders. These terminals provide traders with the tools and resources needed for effective trading.

Trading is conducted on the MetaTrader 4, MetaTrader 5, and Fix-Contracts platforms, all available for download on the website.

For those who prefer to trade and view trading schedules on mobile devices rather than a personal computer, applications for Android or iOS can be downloaded.

MetaTrader 4

MT4 is a classic trading platform used by millions of traders worldwide.

The following versions of MetaTrader 4 are available at Alpari:

• for Windows;
• for Mac;
• for Android;
• for iOS.

Alpari's website also offers training courses and educational materials on this trading platform.

MetaTrader 5

MT5 is one of the most modern trading platforms for trading. It is free for the same operating systems as MetaTrader 4 (see above).

Educational materials on MetaTrader 5 are also available, which will help you install and use the terminal for Forex trading and even connect to a VPS through your account on MQL5.com.

Fix-ContractsTrader

Fix-ContractsTrader is Alpari's proprietary platform for trading fixed contracts (binary options).

Available as:

• a Web version;
• an Android application.

Alpari Mobile

Users can also access their client's areas using the Alpari Mobile application. Through this application, you can:

• deposit and withdraw funds from trading accounts;
• open trading or demo accounts;
• read analytical reviews;
• track your trading activity;
• trade through the web platform.

The Alpari Mobile application can be downloaded for Android and iOS in the Alpari personal cabinet.

Alpari Invest

With the Alpari Invest application, you can:

• invest in PAMM accounts or portfolios;
• fund your account;
• monitor and manage your investments;
• withdraw funds.

The Alpari Invest application is available for both Android and iOS. Like the Alpari Mobile app, Alpari Invest can be downloaded in the personal cabinet.

Alpari's "Market Analysis and News" section offers daily comprehensive market insights, focusing on critical economic events and their potential impact on various financial instruments. The analysis provided by in-house experts includes interpretations of central bank meetings, interest rate expectations, and technical analysis on key currency pairs, aiding traders in making informed decisions. This daily analysis and expert commentary on currency movement and market expectations could significantly benefit traders looking for a quick yet thorough understanding of market dynamics.

However, without access to the full suite of analytical tools that might be available, such as economic calendar, market feed, or AutoChartist, it is challenging to assess the complete analytical capabilities Alpari provides to its users. Adding these tools would enhance the value of the broker's analytics offering.

Given that Alpari does not provide any educational materials for its English-speaking clients, the quality and diversity of academic offerings in this segment can only be rated as 2 out of 5. Educational resources are crucial in a trader's development and success, especially in a complex and dynamic field like Forex trading. High-quality educational materials, including webinars, video tutorials, podcasts, and comprehensive articles, are essential for catering to a global audience. Therefore, while Alpari's Russian-language platform may offer robust educational tools, its international reach is significantly limited by the lack of such resources in English, a significant drawback for English-speaking traders seeking to enhance their trading knowledge through Alpari.

Alpari's customer support boasts a variety of communication channels, although the absence of working hours listed on the site may leave some users uncertain about when live support is available. This can be a drawback for traders who require assistance outside standard business hours.

Contact Details

• Online Chat
• Phone: +44 2045 771951
• Telegram Bot
• Feedback form

Customer Reviews on Alpari's Support

Customer feedback on Alpari's support is mixed. Some users rate the service highly, citing quick fund withdrawals and competitive spreads as positives. However, others have expressed dissatisfaction with unsolicited trade closures, unexplained account terminations, and what they perceive as generic responses to inquiries. Reports of high withdrawal commissions and seemingly adversarial support interactions have also been noted, indicating inconsistencies in service quality across different support agents.

Alpari Pros and Cons

Alpari Broker Advantages

1. A wide selection of trading accounts. Alpari Broker has a variety of trading accounts suitable for different types of traders and investors.

2. Flexible conditions for deposits and withdrawals. Broker Alpari offers flexible and competitive conditions for depositing and withdrawing funds.

3. Diversity of trading platforms. Alpari company provides a variety of trading platforms that will meet the needs of most traders.

Alpari Broker Disadvantages

1. Licensing. Licensing in the Comoros Islands does not provide the same level of investor protection as countries with stricter regulators.

2. Limited choice in terms of different asset classes. While Alpari Broker offers a wide selection of assets for trading, some competitors provide a greater variety of asset classes.

3. Lack of analytical and educational materials.

4. Ambiguous reviews about the broker's customer support performance and the absence of a support schedule on the website.

Conclusion

Alpari has established itself as a stable and reliable broker, providing its services on Forex for over 20 years. The broker is widely popular among professional traders due to its wide range of trading accounts and instruments and convenient and practical services for investing—PAMM accounts and portfolios. Beginning traders will find quality support, training courses, and favorable trading conditions at Alpari.

Overall, Alpari is an excellent choice for beginners and professional traders.