Alpari International Review
Alpari International is an online Forex and CFD ECN brokerage launched in 2014 as an offshoot of the Alpari group of brokerages. They are headquartered in Mauritius and are regulated by the Financial Services Commission (FSC) Mauritius, under license number C113012295 as an Investment Dealer (Full Service Dealer Excluding Underwriting) through their parent company Exinity Limited.
Alpari International offers traders the opportunity to trade a fairly wide range of instruments mostly wrapped as CFDs (Contracts for Difference), offering trading in 11 major U.S. stocks, over 60 Forex currency pairs and crosses, the commodities gold, silver, crude oil and natural gas, the cryptocurrencies Bitcoin, Ethereum, Litecoin and Ripple, and 11 major global equity indices. Maximum leverage (on Forex) is a very high 1000 to 1 on Forex, although this reduces dramatically as the total notional trade size of all open positions rises, falling to a minimum of only 25 to 1 at a total notional value of $8 million. The maximum leverage offered is significantly less on cryptocurrencies and other instruments such as individual stocks.
Alpari International differs from most brokers in offering clients a hybrid ECN/market-maker execution model, allowing the opportunity of fast execution and natural spreads. A choice between account types is offered freely but it is not possible to trade certain instruments through some account types, and certain account types are only available with one of the two trading platforms offered meaning they offer no choice of platform. All accounts may be based in any of four base currencies: USD, EUR, GBP, or NGN (Nigerian Naira). It is unusual to see a major broker accepting the currency of an African nation.
Traders are offered a choice between four account types, two of which offer ECN execution while the other two offer market-maker execution. The first ECN account offered is the “ECN Account” and is available with either the MetaTrader 4 or MetaTrader 5 trading platforms. It requires a minimum deposit of $500 and offers a maximum (floating) leverage of 1000 to 1. Commission is $3 per lot round trip and the minimum spread available on the benchmark EUR/USD currency pair is 0.4 pips. The maximum volume per trade permissible is 50 lots. The second, larger ECN account available is the “Pro Account” and is available only with the MetaTrader 4 trading platform. It requires a far larger minimum deposit of $25,000 and offers a maximum (floating) leverage of 300 to 1. Individual stocks may be traded only through the Pro Account. No commission is charged on this account, and the minimum spread available on the benchmark EUR/USD currency pair is 0.4 pips. The maximum volume per trade permissible is 250 lots.
As for the non-ECN, market-maker execution style accounts, traders are offered a choice here between the “Standard Account” and the “Micro Account”, both of which are available only with the MetaTrader 4 trading platform. The Standard Account requires a minimum deposit of $100 and offers a maximum (floating) leverage of 1000 to 1. The minimum spread charged on the benchmark EUR/USD currency pair is 1.2 pips. The maximum volume per trade permissible is 50 lots. The second, smaller account is the Micro Account requiring a minimum deposit of $5, offering a maximum (floating) leverage of 400 to 1. The minimum spread charged on the benchmark EUR/USD currency pair is 1.7 pips. The maximum volume per trade permissible is 1 lot.
Islamic “swap-free” accounts are available but may not be used to trade exotic Forex currency pairs.
Scalping and hedging are allowed, and automated trading is possible. This combination of advantages is something that is increasingly hard to find.
A solid range of assets are available for trading, particularly Forex currency pairs and crosses.
Traders may trade Forex, indices and commodities as well as individual equities. Traders may choose between market-making or ECN execution models, and an ECN account is available at the relatively low and affordable minimum deposit of $500.
Alpari International offer an educational “Learn to Trade” section on their site, which is broken into two sections: “Beginners Guide to Trading” which offers a short, static crash course tutorial with text and diagrams; and “Forex Trading Strategies” which offers something similar as an outline of the major types of trading strategies. The overall impression is of a well-produced and accurate educational section, but it is relatively thin on content This is not necessarily a meaningful negative, as education is not a must-have from a Forex / CFDs broker.
Bonuses and Promotions
At the time of writing, Alpari International offers a loyalty cashback promotion. For every lot a client trades, a real, withdrawable cash rebate is offered for up to 6 months. Five rebate levels are offered.
Depositing funds into an Alpari International account is an easy and secure process. Both may be made using a few different methods, including credit cards, debit cards, bank transfer, Neteller, FasaPay, WebMoney, Perfect Money, Bitcoin and Skrill. Withdrawals are generally made through the same channel that deposits have been made through. Alpari International add no charges of their own to any fees which may be charged by such payment processors.
Customer support is based in Mauritius offering support 24 hours per day Monday to Friday and for a few hours on Sunday afternoon.
Alpari International has a well-rounded and professional offering for traders looking to trade popular trading instruments in the form of CFDs, particularly in Forex, with a choice of execution model. Alpari International could be an especially attractive broker for clients with relatively small deposit size who wish to benefit from ECN execution and a low spreads / commissions model.
- Choice of Execution Model
- Choice of Platforms
- Few Tradable Instruments Except Forex
- Weak Education Section
Review info: Alpari International
Review Date: 2019-03-04
Rating : 5
Reviewed By : Sara Patterson (Google+)