ALPARI REVIEW: PROS & CONS
Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.
Last Update:
27.6.24
BASIC INFO
Alpari is an online broker that offers forex and CFD trading through MetaTrader platforms. Founded in 1998, Alpari has a global presence with offices in multiple countries.
It offers a variety of trading accounts, although it is particularly noted for its PAMM accounts for fund managers and investors.
PROS & CONS
PROS
+20 Years in Business
This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.
PAMM Accounts
This platform supports PAMM accounts, allowing traders to allocate funds to professional traders and participate in their trading strategies for potential returns.
Trading Signals
This platform provides trading signals, offering valuable insights and recommendations for traders to make informed trading decisions in the market.
CONS
Unregulated
This platform is not regulated by any credible government agency, which means it may not operate in compliance with industry standards and regulations. The lack of regulation poses potential risks and uncertainties for traders, as there are no specific rules and guidelines in place to protect their interests.
Poor Customer Support
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
Lack of Educational Resources
This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.
APPS
METATRADER 4
Widely-used platform for forex trading. Known for its Expert Advisors (EAs) and customizability.
METATRADER 5
Successor to MT4 with more timeframes and order types. Supports more markets beyond forex.
ALPARI Mobile
Alpari Mobile app is available for iOS and Android, giving you powerful trading in the palm of your hand.
The screenshot of the MetaTrader 4 (MT4) platform features a dynamic user interface, equipped with multiple essential components for trading. The "Market Watch" window displays a list of the most traded currency pairs, showcasing market liquidity with real-time bid and ask prices. Concurrently, the EUR/USD candlestick chart offers a crisp visualization of market fluctuations over a one-hour period, accentuating bullish trends with green candles.
ACCOUNT OPENING
How to Open a Trading Account with Alpari
Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:
Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.
Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.
Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).
Access the Trading Platform: Download and install the trading platform. Log in with your account details.
Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
Start Trading: Once your account is set up and funded, you can start trading.
How to Deposit
Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:
Log in to your newly created account.
Click on "Deposit Funds".
Enter the amount and select the currency.
Finally, select your chosen deposit method. Don't worry, it's a secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.
Below we show you the available alternatives.
Deposit & Withdrawal Methods
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ASSETS & SERVICES
Forex
Alpari offers a diverse range of currency pairs in the Forex market, providing traders with numerous opportunities in different currencies. These include:
Australian Dollar (AUD) Pairs: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD
Canadian Dollar (CAD) Pairs: CADCHF, CADJPY
Swiss Franc (CHF) Pairs: CHFJPY
Euro (EUR) Pairs: EURAUD, EURCAD, EURCHF, EURDKK, EURGBP, EURJPY, EURNOK, EURNZD, EURSEK, EURSGD, EURTRY, EURUSD
British Pound (GBP) Pairs: GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPSGD, GBPUSD
New Zealand Dollar (NZD) Pairs: NZDCAD, NZDCHF, NZDJPY, NZDSGD, NZDUSD
United States Dollar (USD) Pairs: USDCAD, USDCHF, USDCNH, USDDKK, USDJPY, USDMXN, USDNOK, USDPLN, USDSEK, USDSGD, USDTRY, USDZAR
Other Assets
Precious Metals: Offers Gold (XAUUSD) and Silver (XAGUSD).
Indices: Alpari offers a wide selection of stock indices, allowing investors to access global markets. These include from the United States, Australia, China, the United Kingdom, France, and Germany.
Stocks: A wide selection of the most popular stocks from the United States.
Cryptocurrencies: Offers a basic selection of Cryptos.
REGULATION
Mauritius
FSC
Financial Services Commission
Real Reviews about Alpari
User opinions about Alpari on Trustpilot are mixed and vary significantly. Here is a summary of some reviews:
A user from Ireland, on November 10, 2023, rated Alpari as the "worst broker in the world", criticizing its "false advertisements and ridiculous incentive plans" and stating that they only care about traders' money.
Another comment from June 19, 2023, from the UK, describes Alpari as "the most notorious scam artists in the industry", advising them to stay away due to their tempting offers and promises.
A user from the United Arab Emirates, on July 14, 2023, had a positive experience, rating Alpari as "the best broker I have traded with", highlighting the ease of deposit and withdrawal and the professional support of their team.
A user from the United Kingdom, on August 26, 2021, expressed dissatisfaction, noting that once money is deposited, it is impossible to get it back and rating the trading conditions, such as the spread on GBP/USD, as a "rip-off" and a "scam".
These opinions reflect a range of experiences and perceptions about Alpari, varying from very negative to highly positive. It's important to note that these are individual opinions and may not represent the experience of all users.