Is Alpari a legit broker or a scam?

Alpari is one of the oldest and most prominent companies, established in 1998. This broker has long established itself as a reliable partner for binary options traders and those who prefer trading in the Forex and CFD markets. Alpari offers a wide range of trading tools, tight spreads, and popular trading platforms MT4 and MT5.

However, like any other broker, Alpari is not immune to criticism and rumors of fraud. In this article, we will analyze its operations, examine the main advantages and disadvantages, and tackle the question: can this broker be trusted with your money? If you plan to start trading binary options, this review will help you make an informed decision.

Table of contents:

• Is Alpari Legit?
• What is Alpari?
• History and statistics of the Alpari broker
• Regulation

1. Jurisdictional Considerations
2. Restricted Jurisdictions

• Security of Funds and User Data
• User satisfaction
• Alpari Cashback
• Alpari Rewards
• Account Types

1. Alpari pamm account

• Trading Assets
• Alpari Trading Hours (GMT)
• Deposit and Withdrawal

1. Accepted payment methods
2. Currencies

• Do I have negative balance protection with this broker?
• Alpari fees & commissions

1. Non-trading fees
2. Spreads

• Demo account
• Trading platforms
• Features of the trading platform for fix-contracts
• Mobile app
• Technical platform issues
• Tournaments & contests
• Bonuses and promotions
• Alpari affiliate program
• Customer Support
• Research & Education
• Is it easy to open an Alpari account?
• How to trade on Alpari?
• Who should consider using Alpari?
• Pros and cons of Alpari
• What's new in Alpari in 2024?
• Should you trade binary options on Alpari?
• FAQ

Is Alpari Legit?

Alpari is an entirely legitimate broker, as the Financial Services Commission of Mauritius oversees its operations. This brokerage company may interest binary options traders who want to invest temporarily free funds in PAMM accounts or trade CFDs with leverage as high as 1:3000 and spreads beginning from 0.4 pips, in addition to trading option contracts.

What is Alpari?

Alpari ranks among the oldest brokers in the Forex, CFD, and binary options markets. Founded in 1998, it operates as part of the Exinity Group alongside FXTM. Alpari pioneered access to the internationally acclaimed MetaTrader 4 trading platform for its clients.

Over the past 26 years, more than one million traders worldwide have chosen Alpari as their broker. During this time, Alpari's team has gained extensive expertise in delivering comprehensive trading services. Across most countries, Alpari offers everything traders need to work with currencies, metals, commodities, indices, stocks, and cryptocurrencies. Each Alpari client benefits from a fully-featured online educational service and prompt support in their native language.

History and statistics of the Alpari broker

Regulation

Previously, Alpari held a license from the Central Bank of Russia. However, in January 2019, the Russian regulator revoked licenses from all Forex dealers without banking operations. In 2024, Alpari underwent a corporate restructuring. In July of that year, Alpari International ceased operations, and Alpari (Comoros) Ltd, registered in the Comoros Islands, took its place. This company secured a license from the Mwali (Mohéli) International Services Authority as an international brokerage and clearing firm (License No. T2023236).

Jurisdictional Considerations

Alpari (Comoros) Ltd, with its registered address at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union, operates under registration number HY00423015.

Restricted Jurisdictions

Alpari Comoros does not offer services to residents of the United States, Japan, Canada, Myanmar, North Korea, the European Union, the United Kingdom, Iran, Syria, Sudan, or Cuba.

Security of Funds and User Data

Alpari Binary Options Broker takes strict measures to protect its clients' funds and personal information. The broker keeps traders' money separate from corporate funds, enhancing security and ensuring it does not use clients' capital for commercial activities.

Alpari uses strict security protocols to protect data. SSL certificates protect confidential information transmitted over the Internet for websites and trading platforms.

Alpari Broker (Comoros) has also implemented two-factor authentication (2FA) to enhance security when funding trading accounts and withdrawing funds.

User satisfaction

We researched user reviews on reputable platforms to form an unbiased opinion about Alpari. Here's what we found.

To avoid common mistakes among traders, we highly advise you to thoroughly examine the terms and conditions of Alpari's services, especially regarding non-trading fees. Be sure to pay attention to the available deposit and withdrawal methods.

Alpari Cashback

The Alpari Cashback program lets clients earn bonus points for specific actions, such as depositing funds, opening trades, and other operations. You can exchange these points for real money, commission reimbursements, or discounts.

Alpari Rewards

The Alpari Rewards loyalty program allows every client to earn rewards for trading. You don't need extra steps to join the program – Alpari automatically enrolls all clients. To earn points and level up, trade.

You earn a specific number of points for each trade. The more you trade, the more points you accumulate. You can redeem these points for exclusive privileges, account funding, or withdrawals.

As your points increase, you move up through the levels – from Bronze to VIP – unlocking new trading benefits. Starting at the Bronze level, you earn bonus points for your trades.

The higher your level, the more bonus points you earn and the greater the opportunities to use them.

Please note: your level updates annually. To maintain your current level, you must earn the minimum required points. Alpari reward levels range from the starting level to the VIP Master. The table below provides more detailed information.

How can you earn bonus points?

You will earn level points for every lot you trade. You earn half of the points when an open position and the other half when it is closed. Different instruments have different point values. For instance, you get 480 points per lot for oil and 200 points per lot for the XAUUSD pair. More information is in the table below.

Account Types

Alpari offers clients three accounts: Forex, PAMM accounts, and binary options trading (Fix-Contracts). Each requires opening a separate trading account in the broker's cabinet. To do this, go to the main menu, select "Open Account," and choose the market where you wish to start trading. Then, select the account currency – US dollars or euros—and click "Open Account."

At Alpari, you can open multiple accounts for the same trading and base currency, so use separate accounts for different strategies.

Alpari offers numerous account types: Standard, ECN, Pro ECN, FIX-CONTRACTS, and DEMO. The table below describes each type.

Alpari pamm account

Alpari offers PAMM accounts, a service that allows investors to allocate capital to traders' strategies. In return, successful traders earn a reward from their profits while managing their investments.

This service enables Alpari clients without Forex trading skills to profit from the expertise of experienced traders. PAMM accounts maintain credibility, as an international auditing firm has verified the service. You can track the performance of asset managers through your cabinet, where you can withdraw profits and access your funds at any time.

How to Invest?

1. Register a personal cabinet and fund your account using your preferred method.
2. Choose a PAMM account from the rating list that matches your desired profitability and maximum drawdown characteristics.
3. Invest and monitor your funds through the investment account in your cabinet.
4. All settlements with the investor occur automatically. Your trades remain securely protected from copying.

Trading Assets

Alpari offers traders financial instruments from four asset classes: currency pairs, cryptocurrencies, commodities, and stocks.

At the time of writing this review, the following instruments were available:

• Currency pairs: 17
• Cryptocurrencies:26
• Commodities:3
• Stocks: 3
• Indices: 10

Alpari Trading Hours (GMT)

Alpari supports round-the-clock Forex trading five days a week:

• March to October: From 00:05 (GMT+3) on Monday to 23:54:59 (GMT+3) on Friday.
• October to March:From 01:05 (GMT+3) on Monday to 00:54:59 (GMT+3) on Saturday.

The Forex market operates 24/7. Below are the opening and closing times for Forex trading across banks worldwide. Consider the opening times of trading sessions, as these can influence market activity levels. The table presents times in GMT and EET (Eastern European Time, used on Alpari's trading platforms).

Trading CFDs on Cryptocurrency:

• On MT5 accounts, it is accessible at all times with a two-hour pause from 10:00 to 12:00 (EET) on Saturdays and Sundays, including from 22:00 to 22:10 (EET).
• On MT4 accounts, it is available around the clock except during the following periods:
  • 10:00–16:00 (EET) on Saturdays,
  • 03:00–04:00 and 22:00–22:10 (EET) on Sundays.

Deposit and Withdrawal

Before transferring, clarify the Alpari account to which you wish to send funds. Traders can use Forex, PAMM accounts, and fixed contracts within the same personal account.

The name provided during registration and the sender's name must match exactly. Transfers from third parties are not accepted. We use the same payment systems for withdrawals as for deposits.

In most cases, transferring funds takes 2 to 7 business days. However, when the bank uses multiple intermediaries to process payments, the funds may take up to 10 business days to be credited to your account.

Accepted payment methods

You can fund your Alpari account with fiat and cryptocurrency using one of the payment systems listed in the table below.

Please note:Payment methods differ based on your country of residence. Among traders, the following deposit methods are the most popular:

• Bank transfer
• Bank cards
• Fasapay
• ADVcash
• Perfect Money
• Cryptocurrency transfer in USDT

We found that different payment systems have varying financial services commissions. When making deposits and withdrawals, choose the one with the lowest fees.

Currencies

Alpari supports two base currencies for trading accounts: US dollars and euros. You can choose one of these currencies when registering a new trading account.

Do I have negative balance protection with this broker?

Alpari takes every measure to protect its clients' accounts from negative balances. The broker's trading platforms feature a unique mechanism preventing clients from incurring debt to the brokerage company if prices change against an open trading position.

Implementing negative balance protection technology allows the broker to close open trades automatically when the account balance reaches zero. This method builds trust between the platform and its users, creating a secure trading environment.

In these conditions, traders can focus on their strategies and market analysis without worrying about the potentially catastrophic results of market volatility and high leverage.

Alpari fees & commissions

Alpari commissions vary depending on the type of account. For example, on an ECN account, the commission is only 3 dollars per lot for opening and closing a trade. Traders who trade large volumes will undoubtedly appreciate this approach to charging commissions.

We advise you to familiarize yourself with all commissions and fee structures the broker charges, as they directly affect your potential profit.

Non-trading fees

Alpari does not charge fees for rolling over your positions to contracts with a new delivery month. However, you may encounter non-trading fees when withdrawing funds, the amount of which depends on the withdrawal methods you use.

Spreads

Alpari offers tight spreads for several major currency pairs, starting as low as 0.1 pips. The type of account you choose determines the spreads applied to each trade:

• Alpari Standard:1.1
• Alpari ECN:0.3
• Alpari PRO.ECN:0.3

Demo account

Many brokerage companies offer demo accounts to their clients, and Alpari is no exception. Regardless of your experience, this account will help you familiarize yourself with the trading platform interface and test a trading strategy without the risk of real money.

New traders can explore different strategies on a demo account and enhance their trading skills with the platform. This tool will help beginners to switch from a demo to a live trading account.

Demo trading Fix-Contracts is entirely free, and no registration is required.

Trading platforms

Alpari offers its traders several trading platforms: MT4, MT5, a web terminal, and a mobile app. Based on your trading goals, you should select a platform and preferred tools.

Suppose you're a beginner and don't require advanced market analysis tools or automated trading. In that case, the web terminal is a better choice. It provides all the essentials for placing trades.

Experienced traders seeking a full range of features can use one of the MetaTrader versions. Both MetaTrader 4 and MetaTrader 5, offered for download, include an economic calendar, real-time news, personalized trading ideas, the ability to import technical indicators, and the ability to create any chart.

Features of the trading platform for fix-contracts

Now it's time to talk about the features of the Fix-Contracts platform. We found no difference between the web terminal and the mobile app. For instance, in the mobile version of the trading terminal, you can open trades with the same instruments available on the desktop, depending on your Alpari account.

On the Fix Contracts platform, there are six types of binary options available:

• Higher/Lower
• Touch
• Range
• Spread
• Express
• Turbo

However, note that Alpari's binary options expiration times can range from 30 seconds to 4 hours. This specialty sets this broker apart from competitors that typically do not allow trades with an expiration of less than 5 minutes.

You can also close a trade early with a 50% loss of the stake. At the same time, payouts for successful trades can reach up to 100% on some types of options contracts, though in practice, most payouts range from 60% to 85% of the stake.

The Fix-Contracts trading terminal is straightforward. Alpari's developers have left only the essential minimum: the choice of option type, instrument, and timeframe, a chart window displaying candlesticks, bars, or a simple line, three buttons for placing positions, and the history of trades.

To enhance trading efficiency, you can add seven indicators to the chart:

1. Moving Average
2. Parabolic SAR
3. ZigZag
4. Relative Strength Index (RSI)
5. Stochastic
6. MACD

On the Alpari platform, you can use trading signals from Autochartist to trade binary options. This technical analysis tool is helpful for both experienced traders and beginners.

Mobile app

Alpari Mobile is a straightforward application that allows you to trade Forex and CFD wherever convenient. The brokerage offers versions for both iOS and Android. If you prefer MetaTrader 4 or MetaTrader 5, you can download them for free on PC, Mac, tablets, or smartphones.

Alpari has developed a separate mobile application for binary options traders called Alpari Fix-Contracts. It matches the functionality of the web version. It allows users to place trades using the same types of option contracts.

Technical platform issues

Active development of Alapri software sometimes leads to malfunctions. Traders report such technical problems:

• Some believe the demo account operates differently from the real one, creating a misleading impression of potential profits.
• User inquiries frequently receive standard, uninformative responses.
• Some traders have experienced issues where their deposits did not appear in their accounts.
• There are suspicions that demo account results are intentionally optimized to attract investors.
• Users from certain countries report being unable to use the platform even after successfully making a deposit.

The active adoption of new technologies initially disrupted the trading platform's performance. However, thorough software testing and prompt issue resolution successfully eliminated all problems.

Tournaments & contests

Alpari is a reliable broker that regularly organizes trading tournaments and competitions with cash prizes open to anyone who wants to participate. You can trade not only in Forex but also in other financial markets. There are five competitions, 2 of which are entirely free. Despite this, all cash prizes in all five competitions are real.

Bonuses and promotions

Alpari offers several bonus programs that are open to anyone interested. For example, when you fund your account, the broker credits ALP points to a special bonus account. You can use these points in the discount program to reduce spreads and commissions, including when funding an account for binary options trading.

You can increase your ALP points in two ways: by boosting your trading volumes and by raising your deposit size. For instance, clients with Gold status and deposits starting at $1,000 earn an additional 15% on the ALP points they generate.

Premium client status includes a 100% reimbursement of deposit fees, personalized discounts, and enhanced bonus points. VIP clients with deposits starting at $40,000 receive a 30% boost to their bonus points and a 10% fee discount on trading commissions and spreads. Additionally, the broker fully covers all fees for transferring funds to your trading account.

Suppose you are ready to deposit large amounts. You can still get up to 20% compensation on spreads and commissions using ALP tokens. The benefits depend on your trading volume, so traders must individually assess their costs and the potential value of joining the bonus program.

For the binary options platform (Fix-Contracts), Alpari offers another attractive promotion called the "Bonus Bank." Traders who complete ten consecutive profitable trades of over $5 each receive $999 credited to their account. You can track your progress in this bonus program in the bottom-right corner of the trading terminal; a star marks each successful trade in the series.

Alpari affiliate program

Anyone can start working with a trusted brand that over 2 million traders worldwide rely on. Alpari stands for reliability proven by time, backed by 26 years of dedicated work and a commitment to transparency.

Alpari partners gain access to a wide range of financial products, dedicated managers, tight spreads, and instant trade execution. The broker offers the industry's most popular platforms, MT4 and MT5, allowing your clients to choose the one that matches their trading targets.

Alpari supports various deposit methods, including regional payment systems, ensuring fast deposits and withdrawals. If your clients need more time or expertise for independent trading, they can use PAMM accounts managed by experienced traders.

Additionally, the broker attracts clients with bonuses and a loyalty program. For instance, by joining the "Loyalty Cashback" program, traders can earn real cash rewards to withdraw or reinvest.

After joining the Alpari partner program, you will receive:

• Personalized reward structures.
• The opportunity to receive payments every month.
• Detailed statistics on all your transactions.
• A multi-level reward system.

Customer Support

Alpari's customer support offers investors several ways to contact it, including access via the alpari.com website. Clients can also receive consultations and answers to their questions by phone at +442 080 896 850.

Alpari's customer support is available 24/5 from Monday through Friday. It is not available on weekends or public holidays. Additionally, you can connect with the broker's specialists via Skype if they are available in your region. In addition to calls, you can also get help by sending an email to [email protected].

The broker's website offers an online chat for real-time assistance. Other communication channels include Telegram (bot), Facebook Messenger, Viber (chat), VK (chat), and Twitter, as well as a feedback form in the personal cabinet.

Research & Education

The broker's website offers educational materials like articles, videos, and webinars. The Education section contains information on technical, fundamental, and chart analysis, trading psychology, strategy development, and many other valuable learning resources.

Is it easy to open an Alpari account?

Starting Fix-Contracts trading with Alpari is very simple. You don't need to register for a demo account. All you need to do is go to the web terminal page on the broker's website. To start earning real money, you should open an account with Alpari and complete the verification of your data.

Opening an account

You can start trading Fix-Contracts with Alpari on a demo account without registration. Just go to the web terminal page on the broker's website. To start earning real money, you need to open an account with Alpari and complete the verification of personal data.

Remember to provide accurate information. It will pass the verification step. The company will send a verification code via SMS to your phone number, which you must enter in the designated field. Congratulations, your registration is complete!

Verification

You can fund your account to trade binary options in the Forex market without verification. However, withdrawal of funds requires this procedure. Therefore, we recommend completing the verification of personal information immediately after registration.

With verification, withdrawing funds from an Alpari account is possible. Still, the amount available for withdrawal will be, at most, the initial deposit. The broker may use a reversal procedure, which complies with international regulations on anti-money laundering practices. When withdrawal requests exceed the initial deposit, the broker will contact you and request verification.

To complete the verification, upload a selfie with a government-issued ID or driver's license in the personal cabinet.

How to trade on Alpari?

Executing trades on the Fix-Contracts platform is as simple as on other binary options brokers' platforms, and the process is straightforward. It follows a standard algorithm:

1. Choosing the type of option contract, such as Call/Put.
2. Choose an asset: The trader selects the asset they want to trade from the extensive list provided by the platform.
3. Set the expiration time:The trader chooses when the trade will automatically close.
4. Set the investment size: The trader sets the amount they are willing to invest in the trade.
5. Determine the direction:The trader predicts whether the asset's price will increase or decrease within the chosen time frame.
6. Opening the trade: After confirming all parameters, the trade opens.

7. Waiting for the result:The trader waits for the option's expiration and sees the outcome of the trade.

Who should consider using Alpari?

Alpari caters to beginners and experienced traders, offering tools that suit every trading style, from Forex and CFDs to binary options. Let's explore what makes this broker's platform so appealing.

For Beginner Traders

Alpari's platform attracts novice traders because it offers a demo account and high-quality training materials. The virtual account allows beginners to master trading terminals and test their strategies without financial risk. In addition, they can try trading different asset classes, such as currency pairs and stocks of well-known companies. The demo account helps them understand the fundamentals of trading faster and reduce risks at the initial stage.

For Experienced Traders

Experienced traders appreciate various trading platforms: MT4, MT5, web terminals, and mobile applications. They are also interested in contests and tournaments where they can win significant cash prizes or receive large sums to manage. Professionals can also act as investors by investing in asset managers. Few binary options brokers offer such a diverse experience.

Pros and cons of Alpari

What's new in Alpari in 2024?

In July 2024, Alapri International, one of the divisions of the broker Alapri, ceased to exist. All clients wishing to open an account with this company must go to the subsidiary organization FXTM. The official sources need to mention the reason for this decision.

Should you trade binary options on Alpari?

Alpari is one of the oldest brokers in the Forex and CFD market. This distinction does not apply to binary options. Fix-Contracts appeared on this platform much later but quickly gained popularity among traders specializing in binary options. Both beginners and experienced traders can be confident they will receive high-quality service and a wide range of trading conditions here. Regular contests and competitions will make money-making more exciting and engaging.

FAQ

Who is the owner of Alpari?

Alpari (Comoros) Ltd. owns the broker, which has its registered address at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union, and operates under registration number HY00423015.

Can you earn money in Alpari?

Yes, you can earn money trading at Alpari. However, it would help if you had a proven trading strategy with a more than 60% win rate. Only in this case can you expect success in binary options trading.

Can I trade on Alpari from my country?

The ability to trade on the Alpari platform depends on your nationality and country of residence. Before opening an account, ensure your country is not on the list of restricted countries. You can find this list on the broker's official website's homepage.

What is the minimum deposit on Alpari?

The minimum deposit to create a trading account with the binary options broker Alpari depends on the type of account you choose. For example, for a Standard account on the MT4 platform, the minimum deposit is just $20. If you want to trade on this account on MT5, you will need to deposit at least $100 into your account. Therefore, carefully review the trading conditions for different accounts before selecting a trading platform.

How does Alpari compare to other binary options brokers?

Alpari is one of many brokers in the binary options market. It offers unique trading conditions, a platform, and tools. Therefore, comparing this platform with other brokers is a personal choice. Each trader looks for advantages: some value a wide range of assets, others prefer low fees, and some prioritize platform convenience. To choose the best broker, we recommend thoroughly examining the offerings of several platforms and comparing them based on critical criteria.

Is Alpari a good or bad binary options broker?

Labeling Alpari as a "good" or "bad" broker is tricky. Traders' opinions vary. Some praise the wide selection of assets and the user-friendly platform. In contrast, other traders complain about withdrawal issues and lack of regulations. We advise you to study real traders' reviews thoroughly and only then decide to cooperate with this broker.

Does Alpari have Bots?

No, Alpari does not offer trading bots. Should you wish to explore algorithmic trading, we advise consulting specialized resources where you can learn the MQL programming language. You can use automated trading strategies in MT4 and MT5 terminals, which Alapari offers to its clients, are built using this language.

Is there a strategy for trading on Alpari?

You can use many strategies when trading with Alpari. Still, we suggest beginning with a demo account to practice trading binary options without risk.

Is Alpari suitable for beginners?

Alpari offers trading opportunities not only for experienced traders but also for beginners. The broker has developed a "Standard" account with straightforward conditions and a minimal deposit of $20. By trading on this account, new traders can familiarize themselves with the trading terminal and learn the basics of technical and graphical analysis of financial markets.

What is the maximum withdrawal from Alpari?

You can withdraw funds without restrictions using the same payment method as a deposit. However, remember that if you still have open positions, you should leave sufficient funds in the account to cover any potential additional fees when withdrawing.

Read also:

How to choose a binary options broker?

Binary options broker bonuses

How do binary options brokers make money?

Verifying your account with a binary options broker

Rating of the best Forex brokers