Should You Trade with Alpari? Read This Broker Review First?
Alpari has been around since 1998 and is based in St. Vincent and the Grenadines. If this location may cause you to pause, there is a good reason; St. Vincent and the Grenadines is not a top-tier regulator.
In spite of this, Alpari has a decent reputation, although in these reviews, we tend to place a high priority on first-class regulators. There may be some advantages Alpari provides, but trade at your own risk.
As mentioned above, the main drawback to this broker is its lackluster license. It holds two licenses, one from St. Vincent and the Grenadines and the other from IFSC or the International Financial Services Commission in Belize.
Although many traders and investors report satisfaction with Alpari, this broker can’t provide the kind of oversight and services that a well-regulated broker would. The task of regulators is to be selective about who they grant licenses to, to periodically check that the broker is providing the right services and deal with customer complaints. The SVC and IFSC lack this kind of oversight, and therefore, are not the same caliber as other regulators.
The EUR/USD spread is 1.1 pips, which is a reasonable level. The spread on gold is 4 and the BTC/USD spread is 21. Alpari offers very high leverage ranging from 1:500 to 1:1,00. It should be noted that high leverage puts traders at risk, because it may be tempting for them to trade on the margin and incur significant losses.
Like many brokers, Alpari offers gold, platinum, diamond and VIP accounts for those who want to trade higher amounts of money. The more money clients trade, the more benefits they receive, such as personal managers, commission and spread refunds, bonus points and at the VIP level, unlimited trading orders.
However, Alpari charges no fees for withdrawals or deposits and has a modest inactivity fee, which is in keeping with the industry standards.
A demo account is available for beginning users where they can try out Alpari’s services and learn the ropes of Metatrader 4 and 5.
Platforms and Trading Products
Alpari offers trading of Forex, spot metals, CFDs, cryptocurrency and binary options. Clients have access to all of the features of MetaTrader 4 and 5. Alpari also features a PAMM program which brings traders and investors together. The plan works by allowing investors to place their funds with traders so that both the traders and investors can earn money through joint effort.
Education and Research
Education and research tools are adequate. In a sense, the demo account provides new traders with a practical education in trading. Alpari also provides the following:
- Market reviews
- Forex economic calendar
- Analytical tools
- Currency converter
- Alpari mobile services
Pros and Cons of eToro
- Has been around since 1998
- PAMM accounts
- Low fees and spreads
- Demo account using Metatrader
- Metatrader 4 and 5
- Perks for premium accounts
- Low quality licensing
- High spreads–risky
- No 24 hour customer service
Should You Trade with eToro?
Alpari seems to have a number of advantages, including low fees, benefits for premium membership and PAMM accounts. However, Broker Complaint Registry can’t recommend this broker because it has a low quality license from St. Vincent and the Grenadines.
It may seem that any license is better than no license, but these regulators do not provide enough oversight to make client accounts truly secure. We recommend doing additional research and finding a broker with a high-quality license instead.
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