Alpari – A Complete Foreign Exchange Brokerage Review

Alpari, a foreign exchange brokerage platform, has been in the market for more than two decades already. It is currently headquartered in St. Vincent and the Grenadines, and has been operating with two subsidiaries located in the United Kingdom. It became popular for its direct market access, competitive asset spreads, and optimum technology to back the overall trading experience. Through these impressive features, it has gained tight market traction of over one million subscribers.

It was originally situated in the United Kingdom, with most of the transactions being processed through its UK-based subsidiary. However, it halted all of its operations in compliance with the policies released by the Swiss Central Bank back in 2015. Currently, its two leg offices are now designated for research and technology development. 

This is considered as an Electronic Communications Network type of platform, which allows clients to directly trade without the need of a dealing desk. The Straight-Through-Processing (STP) structure also enables its clients to enjoy the best market rate at the lowest price possible. All of these conditions are made available across the globe, except for those who live in the United States, Iran, and Canada. 

Alpari – A Complete Foreign Exchange Brokerage Review

Alpari Regulation and Security 

With St. Vincent and the Grenadines being a hotspot for offshore and fraudulent brokers, it is surprising to see that Alpari is a legitimate license holder of the Financial Commission. This independent regulatory body located in Hong Kong oversees external disputes and operations filed by the clients of any broker it regulates. 

It grants a reimbursement worth $20,000 for complainants who can prove that a broker is unreliable. While this does not hold enough authority compared to jurisdictional financial regulators, it still comes favorable for clients victimized by fraudulent brokerage companies. Apart from Alpari’s external security, it has its own safety policies to safeguard its clients from financial wipeouts. These are:

  • Segregated Funds- With this kind of setup, clients’ funds are then kept in a separate account, completely segregated from the company’s funds. This reduces the risk of mounting losses should Alpari face rough points or bankruptcy. 
  • SSL Encryption- The use of Secure Sockets Layer Encryption has been proven effective in keeping confidential data. This type of security ensures that financial data will not, in any way, be put into risk or be compromised. 
  • Bank Partnership- Its impressively wide network guarantees that all transactions are seamless. More so, its partnership with banking institutions enhances its liquidity. 

 

Alpari Account Selection 

Alpari has an impressive set of asset classes tradable in six live accounts. The Nano,
Standard MT4, Standard MT5, ECN MT4, Pro-ECN, and ECN MT5 are equipped with unique conditions to give Alpari clients wider options for their trading preferences. These accounts differ in terms of platform, spread rates, and leverages. However, they come similar as all demand a 50% maintaining margin to keep a hedged position. Apart from this, all of the accounts are subject to a standard lot size of 0.01. 

If we are to look at Alpari’s transaction speed, clients will find its relatively slow execution speed as a disadvantage. This is mainly from the usual market speed common in ECN-powered accounts. This setup remains unfavorable, and has kept an edge for those traders with dealing desks. Lastly, it does not offer Islamic accounts, making it another setback for clients who comply with the Sharia Law. 

Alpari – A Complete Foreign Exchange Brokerage Review

Customer Support 

One of Alpari’s excellent features is its Customer Support. The team has provided its clients various contacts through which they may be reached. They have active lines of email, direct support, and the most impressive, its live chat feature available in multiple languages. It also has a telephone line that comes convenient for traders who want to close positions immediately. 

 Conclusion 

If you happen to be in search of a foreign exchange platform with decent asset classes, competitive selection of accounts, and responsive customer support, then it is suggested that you start your investment with Alpari. These, together with ultra-low spread rates, guarantee that clients’ margin of profitability will expand. More so, users are provided with an experience that is both optimal and convenient. Truth be told, there are still aspects that Alpari needs to focus and enhance. Things such as its inadequate research materials may come disadvantageous as well as its daunting deposits and withdrawal fees. But if one is willing to look past these setbacks, Alpari may still come as an ideal Forex broker.

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