Alpari is another forex (FX) broker on the block which provides quality trading services. Whenever one is dealing with a forex broker he/she must take care of certain facts like the authenticity, regulation and protection which that broker provides. Forex is quite a complicated thing and if a trader fails to work with a trustable broker then things might not fall in place.
The Alpari Family started off with its operations in the year 1998 and since then it has produced quite a few excellent technology based trading software. Alpari Financial Services Ltd. is one of the products from the Alpari Family. The Alpari (FS) was launched in the year 2010 and is being operated internationally since then. It is an independent Forex Broker providing financial services related to the international currency market i.e. Foreign Exchange.
There are various offices of this trading website throughout the world and the main office is in Limassol, Cyprus, which is the hub for forex trading. Alpari FS is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is in compliance with Cyprus Law 144(I)/2007. Alpari FS is also a member of ICF for Clients of Cyprus Investment Firms (CIFs).
Alpari FS is well known to provide clients with forex and various other underlying assets to trade on. One can also trade in commodities, gold, indices etc with Alpari FS. A trader gets access to one of the best trading platforms with Alpari FS. There are multiple tools to make trading easy and one also gets access to interbank liquidity.
In this review we will take you through what Alpari FS has got to offer, its customer services department, and the returns on investment and a trading platform which is supreme to use.
Generally most of the forex brokers provide single trading platform, but with Alpari FS, things get different. This forex broker has more than 3 trading platform up its sleeves.
The first platform which it provides is MetaTrader4, this platform is for general trading and apart from this one can also use various features and options to enhance trading. It is an excellent, easy to operate and a well made trading platform for new as well as experienced traders. There is a comprehensive chart and a built-in program to enhance trading experience. MetaTrader4 is the most commonly used trading platform.
The next platform that it uses is the MetaTrader5 platform, this platform is exclusively used for demo accounts. This platform is further tweaked for better performance and accessibility.
Alpari FS also provides an internally developed trading platform called Alpari Direct. This is specially designed for advanced investors and it offers better speeds and better pricing.
There is one more type of trading platform which can be used by institutional traders, high profile investors and money managers. This trading platform is known as Alpari Direct Pro. This platform has ground breaking speeds and exceptional management tools and optimization options.
There is plenty of improvement scope which Alpari FS has promised to bring in the near future regarding these trading platforms. There has been plenty of internal work by the team of Alpari and the results have already started to appear.
Alpari FS has also developed efficient apps for mobile trading as well. Now a trader can continue trading on his iOS or Android device even if he is on the move.
Account types which are offered
Alpari FS is quite a huge forex trading broker and this can be seen even with the number of accounts which it has got in store for the traders. There are 5 main types of trading accounts and these consist of the following:
- Nano MT4 Account: This is the first type of trading account which is offered by Alpari FS. In this account there is no minimum deposit requirement and there are fixed spreads. There is a high leverage ratio of 1:500 and a stopped out level of 10%. 50% is the maximum hedged margin.
- Standard MT4 Account: After the Nano MT4 account comes the Standard MT4 account. This account requires a minimum deposit of $100 and the leverage ratio is between 1:25 to 1:1000. This also has floating spread and the stopped out level is fixed at 20%. There is a 50% hedged margin.
- ECN MT4 Account: The third type of account which is offered is the ECN MT4 account. This account requires a minimum deposit of $300 and has a leverage ratio between 1:25 to 1:1000. This also has floating spread and the stopped out level stands at 60%. The hedged margin is 50%.
- Pro ECN MT4 Account: Next up is the Pro ECN MT4 Account. This account features a minimum deposit of $500 and has a fixed spread unlike other accounts. The stopped out level is at 60% and there is a 1:100 leverage ratio. The ECN commission here is $16 per $1000.
- PAMM Account: Percent Allocation Management Modules, abbreviated as PAMM, are accounts which are managed by professionals on behalf of investors. Investors can decide how much they want to invest and with whom they want to invest their money with. Only a minimum deposit of $300 is required to become a PAMM manager at Alpari.
With so many trading accounts, a trader gets plenty of flexibility to channelize his funds. The spreads payable on Alpari FS depend on the trading account which has been selected by the trader. The fixed spreads vary from2 pips whereas the floating spreads vary from 0.1 pips to 0.3 pips.
Deposit and withdrawal methods
Alpari FS has over 12 methods of depositing or withdrawing funds. There is a different commission/fee as per the method selected by the trader. Quick or urgent withdrawals are possible and one can withdraw money in less than 24 hours. There must be a prior permission that needs to be taken from the accounts department at Alpari FS. One can deposit or withdraw money via Bank Wire Transfer, Debit Card, FasaPay, Neteller, OKPay, Skrill, and Webmoney.
Customer Support Department
There is a special mention for the customer service department. The trading support department provides 3 different types of trading services to the traders:
- Fundamental Analysis: This type of service includes event calendar management, holiday schedule management, macro economic indicator, world interest rates, news from Dow Jones and others.
- Technical analysis: This is the next type of analysis which is offered by Alpari FS and this includes analysis regarding auto chartist’s trading signals, reading forecasts from Trading Central, a certified member of Asia IRP, Euro IRP and Investorside Research.
- Expert Analysis/opinion: The last type of analytical service which is provided by Alpari FS is expert analysis carried out by various management and trade gurus. This includes daily market reviews, Alpari (in-house reviews) and Daily market research.
With these 3 services Alpari FS makes it very easy for the trader to have successful trades in such a competitive market. The customer service department is available from Monday to Friday from 05:00 to 16:00 GMT. To get in touch one can contact them via Skype, telephone, email and live chat as well. Apart from the English Language there are 7 other major languages which a customer can choose from for any queries.
Pros of Alpari FS
Here are some of the major advantages of getting associated and trading with Alpari FS:
- Good amount of bonuses which are very attractive.
- Competitive tight spreads.
- Exclusive and exhaustive customer support at every level and in many major languages.
- Multiple trading accounts. There are over 5 trading accounts which make trading really easy and flexible for the clients.
- High amount of interest on deposits.
- High profile client base which shows its authenticity.
- Regular and good promotional offers and benefits.
- Regular trading analysis and trading contests.
- It is a regulated broker under the CySEC norms. It is also a member of the CIFs.
- There are multiple other benefits as well.
With these many benefits one can surely cannot deny the fact that Alpari FS is one of the best Forex brokers in the current market.
Having said that, there are a few areas where it fails to impress, therefore, let us take a look at the cons of Alpari FS.
Cons of Alpari FS
Here are a few of the disadvantages of Alpari FS:
- There is a mighty complicated accounts registration process
- The customer service does not provide support 7 days a week
- There is no such web based trading platform.
These are some of the cons of Alpari FS.
Alpari FS has no doubt made a great impact on the way traders choose to deal in Forex. It is high profile, sturdy, provides great trading platforms and makes trading very easy. There is a great customer staff for back-up. This trading broker has surely come a long way across and will definitely improve in the coming times.