This review is a result of months spent with the brokerage firm, Alpari. The review team had performed an exhaustive examination of all the firm’s offers and services so as to render a pointed assessment of Allpari’s overall capability. The following facets had been looked into:
1. The firm’s regulatory status
2. The accessible trading instruments through the firm
3. The available trading accounts
4. The offered trading platforms
5. The leverages given in light of the assets traded
About Alpari
Online reviews lodged regarding Alpari had painted the brokerage into a polarizing light. While the trust level for the firm is at a high, its regulatory status may be thought of as disconcerting due to the actual lack of it. And while Alpari clients may be better off with a firm that is being regulated, fact of the matter is, the firm is indeed a part of a financial commission, despite not being the overseen by any central bank or government. This membership is within Hong Kong but does not in any way answer to its jurisdiction. Alpari is self-regulates to assure its clients of legitimacy.
This is made possible through an External Dispute Resolution (EDR) Service. The body that administers it is independent and offers a coverage of up to $20,000 for any damages that the winner of the dispute may have incurred.
Alongside the other protective remedies offered by Alpari are the following:
1. Segregated Funds
Through Segregated Funds, client funds may be kept separate funds that effectively protects these funds and may only be accessed through stringent processes.
2. SSL Encryption
A secure SSL Encryption protects all the clients’ funds.
3. Bank Partnerships
While not guided by a central bank, the firm had made sure to establish good ties with a number of important banks to administer fund movement.
Alpari is based in the St. Vincent and the Grenadines wherein it was established back in 1998. While it serves many international regions, the firm is limited from conducting business within the United States, Canada, and Iran.
Offers and Services
Accessible Trading Instruments
The first thing that one needs to know about Alpari’s services is that it is an ECN broker. What this means is that the firm offers Straight Through Processing (STP).
The ECN Accounts offered through the firm are close to market rates that are on low Spreads.
The firm offers various assets specifically, Foreign Currency Pairs, Spot Metals, and CFDs like Cryptocurrencies, Index, and Commodities.
The review team finds the asset offerings to be limited in that Alpari only makes two metals pairs and oil and natural gas available to trade.
Provided Leverage
Alpari offers a maximum leverage of 1,000:1. The limits vary with consideration to the asset and the client’s account. Below are the maximum leverage that are being offered to the asset classes:
Commodity CFDs: 33:1
Crypto: 2:1
Foreign Exchange Currency Pairs: 1,000:1
Index CFDs: 50:1
Spot Metals: 500:1
The review team had seen the Leverage levels to be reasonable at first, but upon closer scrutiny, it had been found to be quite substandard for the trading of cryptocurrencies as it only provides twice the leverage.
Offered Trading Platforms
Alpari had wisely partnered with Metaquotes to provide its flagship trading platforms, MetaTrader 4 and MetaTrader 5.
MetaTrader 4 (MT4)
MetaTrader 4 (MT4) is fast in processing transactions. It is praised by the online trading community in light of its efficiency. The platform is widely used and frequently reviewed; MT4 had been a recipient of a number of positive reviews. Most of these findings are affirmed by the review team’s own gathered data.
The features mostly lauded by users of the MT4 platform include one-click trading, a number of technical indicators, charting tools, and Expert Advisors (EAs) that permit automated algorithmic trading. MT4 also has provisions for advanced order types.
MetaTrader 5
Despite not being widely known as the MT4 platform, MT5 offers a lot of notable features such as flexible lot sizing, a wide range of funding and withdrawal options, tight spreads, and market depth among others.
Available Trading Accounts
Probably what had sold the review team to Alpari’s services is its range of account offerings. These are primarily ECN accounts; these are as follows:
Trade with Alpari Today!
The points that have been discussed in the review appear to be polarizing especially if one is to look at its asset offerings and provided trading accounts.
The firm’s regulatory status does not help in the matter in any way. However, Alpari is still noteworthy in that its services still foster good trading conditions and are amenable to build strong trading portfolios.