Alpari review — accounts, platforms and conditions

Company and regulation

• Alpari is the trading name of Parlance Trading Ltd, incorporated in the Union of Comoros (Mohéli), registration number HY00423015.
• Licence: Mwali International Services Authority (MISA), No. T2023236, "International Brokerage and Clearing Company". This is offshore regulation, not EU, UK or Australian supervision.
• Founded in 1998, according to the company.
• Does not serve residents of the USA, Japan, Canada, the EU, the UK and several other countries (full list on the broker's website).

Account types

Execution on all accounts is Market Execution. The broker's own pages disagree on details: one gives the ECN minimum deposit as $300, a help article as $200; the table uses the account-types overview page.

Instruments and platforms

Forex, metals, indices, commodities and cryptocurrencies; Pro ECN on MT5 adds stock and ETF CFDs. Platforms: MetaTrader 4, MetaTrader 5 and the broker's own mobile app. PAMM accounts are offered as a separate service.

Algorithmic trading

The accounts run on MetaTrader, where Expert Advisors are a standard platform feature. No separate document on automated-trading restrictions or a broker VPS was found on the pages checked — "not specified". For grid and multi-order algorithms the Stop Out levels matter: 20% on Micro/Standard and 50% on ECN/Pro ECN.

Deposits and withdrawals

• Bank transfers, cards, e-wallets, local payment systems and cryptocurrencies — availability depends on the country.
• Deposit and withdrawal fees are deducted from the amount; their size is not shown on the public page (it is shown in the client area).
• Inactivity fee: 10 EUR/USD/GBP per month after 3 months without trading.
• The initial deposit is withdrawn by the same method; third-party payments are not accepted.

Strengths (backed by the conditions)

• Low entry threshold (from $30 on Micro).
• MT4 and MT5, plus a commission-free ECN account on MT4.
• A long company history (since 1998, according to the broker).

Limitations

• MISA (Comoros) regulation only; no EU/UK/Australian supervision or the compensation schemes that come with it.
• Very high maximum leverage (up to 1:3000) — raises the risk of losing a deposit quickly.
• Figures differ between the broker's own pages.
• Inactivity fee.

FOX conclusion

Suits those who want a low entry threshold and MT4/MT5 with high leverage and who knowingly accept offshore (MISA) regulation. For algorithms, mind the 20% Stop Out on Micro/Standard and 50% on ECN. Those who need EU, UK or Australian supervision will not find it here.

Evaluation criteria

• regulation of the legal entity that serves the client
• full trade cost (spread + commission) on EUR/USD and gold
• MT4/MT5 and Expert Advisor support
• Margin Call / Stop Out levels
• transparency of the published conditions