Overall Rating: ★★★☆☆ (3.7/5.0)

Alpari is a long-standing name in the retail forex industry, founded in 1998 and serving over two million clients globally. Known for its access to both MetaTrader 4 and MetaTrader 5, high leverage (up to 1:3000), and cent accounts for beginners, Alpari caters to a broad spectrum of traders — from novice to experienced. However, its offshore regulation and history of insolvency issues in some jurisdictions temper its reputation. This Alpari review outlines its trading features, costs, regulation, and risk profile.

Key Features

Alpari offers multiple account types and platform options, making it accessible to traders of varying experience levels.

• Platforms: Supports both MT4 and MT5 on desktop, mobile, and web.
• Accounts:
  • Nano (cent)
  • Standard
  • ECN
  • Pro ECN
• Instruments: Trade forex pairs, metals, commodities, indices, and cryptocurrencies.
• Leverage: Offers up to 1:3000 for eligible clients — one of the highest in the industry.
• PAMM Accounts: A standout feature where traders can invest in or manage funds through Percentage Allocation Management Modules.

Regulation and Security

Alpari operates under offshore regulatory oversight with no top-tier regulation.

• Regulator: Operated by Exinity Ltd, registered in Mauritius under the FSC (Licence No. C113012295).
• Past Issues: The UK arm, Alpari UK, went into insolvency in 2015. The brand continued operations under a new structure.
• Client Funds: Claims to hold funds in segregated accounts, but no investor compensation scheme is available.
• Data Security: Basic protections such as SSL encryption and 2FA are available.

Pricing and Costs

Alpari uses both spread-only and commission-based models, depending on account type.

• Spreads:
  • Standard Account: From 1.2 pips
  • ECN Account: From 0.4 pips, with $3 per lot per side
  • Nano Account: From 1.7 pips on micro lots
• Commission: Only applicable on ECN/Pro ECN accounts.
• Minimum Deposit:
  • Nano: $1
  • Standard: $20
  • ECN: $500
• Deposit/Withdrawal Fees: Alpari does not charge internal fees; however, third-party costs may apply.
• Inactivity Fees: Charged after 6 months of account inactivity.

Educational Resources and Customer Support

Alpari provides basic education and helpful support, although it lacks premium content.

• Education: Includes trading tutorials, forex glossaries, articles, and occasional webinars.
• Market Insights: Provides daily analysis and technical reports, accessible via the website.
• Customer Support:
  • Available 24/5 via live chat, phone, and email.
  • Multilingual support covering major global regions.

Risk Management Tools

Risk tools are embedded into both MT4 and MT5 platforms.

• Stop-loss/Take-profit Orders: Fully supported across all account types.
• Trailing Stops and Pending Orders: Customisable via MT4/MT5.
• Leverage Controls: Adjustable within the client portal.
• Margin Alerts: Notifications triggered when margin levels fall.
• PAMM Risk: Investors in PAMM accounts must be aware of third-party manager risks.

Pros and Cons

Pros

• Very high leverage options (up to 1:3000)
• PAMM accounts for passive investment strategies
• MT4 and MT5 support across all account types
• Cent accounts ideal for beginners
• Low minimum deposit thresholds

Cons

• Offshore regulation with no top-tier oversight
• Past insolvency (Alpari UK) affects reputation
• Limited educational depth compared to top brokers
• No investor protection fund

Conclusion: Is Alpari the Right Choice?

Alpari is a low-cost, accessible broker for traders looking for flexible leverage, cent accounts, and PAMM investment options. It’s particularly suitable for newcomers and experienced traders seeking ECN pricing through MT4/MT5. However, its offshore regulation, lack of FSCS-style protection, and legacy issues mean it’s better suited for those who understand and can manage broker risk.

If you’re comfortable trading with an offshore broker and want high leverage or PAMM flexibility, Alpari remains a relevant choice.