What is Alpari? Is it a scam?
Alpari is a trading platform under the Alpari Family group, established since 1998. Alpari has consistently been the top choice for investors due to its credibility and large capitalization. With a history spanning over 20 years, Alpari is one of the oldest forex trading platforms globally. Currently, Alpari serves over 2 million customers from 150 different countries. As of 2017, Alpari’s trading volume reached over 1.3 trillion USD. Additionally, Alpari has received several awards from reputable organizations worldwide, including the Best Mobile Trading Experience award in 2018.
Alpari is licensed by the FSA and IFSC in Belize. While these organizations may not be as large as others, IFSC is a well-known financial regulatory body in the forex investment community, known for its strict regulations for member companies.
Alpari’s Trading Platforms:
Alpari employs two widely used trading platforms, MT4 and MT5. MT5, introduced later than MT4, offers superior features, especially in supporting an excellent environment for stock trading.
MT4 Software: Usable on both mobile phones and computers.
- Supports Expert Advisors (EAs).
- 30 technical indicators.
- 9 timeframes.
MT5 Software: Utilized on both mobile devices and computers
- The MQL5 code performs efficiently, generating Expert Advisors (EAs) and indicators.
- The ability to depict market depth aids traders in more accurate analysis.
- Enhanced interbank liquidity through MT5 Bridge technology.
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12 timeframes, 20 technical indicators, interactive graphics.
Alpari Trading Account Types
Alpari offers four types of trading accounts: Standard account, ECN account, Pro ECN account, and Nano account.
Nano Account: This is a cent account designed for novice investors entering the market, allowing them to practice trading and get acquainted with forex.
Standard Account: This type of account is primarily for both new and experienced investors, offering all the necessary and fundamental features.
ECN and Pro ECN Accounts: These are designed for professional traders seeking better trading conditions such as enhanced liquidity, instant order execution, and no requotes.
In addition, Alpari also provides PAMM accounts, catering to busy investors who can earn profits from the forex market without actively trading. By investing funds in the accounts of other traders, investors receive a share of the profits earned by those traders.
Alpari Trading Products:
Alpari offers various trading products, including Forex, Indices, Metals, Cryptocurrencies, and Commodities.
- Forex: Provides 46 currency pairs, including major pairs, cross pairs, and exotic pairs.
- Indices: Offers 10 popular stock indices in the market, such as SPX500, DAX30, NQ100.
- Metals: Includes two main metals, gold, and silver.
- Cryptocurrencies: Provides five types of cryptocurrencies, namely Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
- Commodities: Includes Brent crude oil, WTI crude oil, and natural gas.
Deposit and Withdrawal Methods at Alpari:
Alpari provides various deposit and withdrawal methods, including bank transfers, credit cards, e-wallets such as Neteller, Skrill, Bitpay, and cryptocurrency wallets like Ethereum, Litecoin. Additionally, Alpari offers a convenient option for Vietnamese investors through Internet banking, a fast and efficient channel chosen by many for its speed and convenience, saving time during the deposit and withdrawal processes.
Leverage, Commission Fees, and Spreads at Alpari
Leverage
Alpari provides the highest leverage ratio of up to 1:1000. However, the leverage ratio varies for each account type and trading product.
Specifically:
- Forex: 1:1000 for major and cross currency pairs.
- Metals: 1:500
- Indices: 1:50
- ommodities: 1:33
- Cryptocurrencies: 1:2
Commission Fees:
Alpari charges commission fees only for two account types: ECN on MT5 and Pro ECN, with a fee of $16 per 1 million dollars traded.
Spread Fees:
Alpari applies floating spreads to all account types and trading products.
Alpari Customer Support:
Alpari offers customer support in multiple languages, including Vietnamese, English, Spanish, Indonesian, Russian, Arabic, Farsi, Malay, Portuguese, Ukrainian, and Chinese. The customer support team of Alpari, a forex trading platform, is available online 24/5 to quickly address any customer inquiries.”
Pros and Cons of Alpari Trading Platform
Pros
- Diverse trading products that meet the basic needs of investors.
- Established as a reputable brand in the Forex industry.
- Clear differentiation in types of trading accounts suitable for various customer segments.
- No or low commission fees.
- Relatively high leverage ratios.
- Diverse trading platforms with stable order execution.
- Various deposit/withdrawal methods, including internet banking.
- Vietnamese language support.
Cons
- Lack of stock trading options.
- No support for MT4/MT5 webtrader platform (direct web trading).
- Most deposit/withdrawal channels involve fees.
- Spreads are relatively high compared to other reputable brokers in the market.
Is Trading on Alpari Recommended?
While Alpari may not possess certifications like FCA, ASIC, or CySec, it is a long-standing trading platform with over 20 years of experience in the financial industry. Alpari has become one of the world’s largest forex platforms, serving 2 million customers daily with modern platform features. Based on reviews, Alpari is considered a reliable forex trading platform that investors may consider for their trading activities.”
