Forex Broker Review - Alpari (UK)

 
  1. The foreign exchange market or Forex is a global decentralized market for trading currencies.

    Company Information

    Pros 
    Well-funded Pro account holders can benefit from low-commission trades, online forex trading and one-click trading. Alpari provides 24-hour multilingual support and free research tools.

    Cons 
    The best option for traders is the Alpari Pro account. Standard account holders do not have direct access to the market and may not enjoy the lack of control they may feel over their profits and losses.

    The Verdict
    : 9.63/10

    If you can manage a Pro account, Alpari has a lot to offer. Pro accounts are ECN accounts with reasonable commissions and online trading with a regulated U.S. forex broker.

    Alpari is a well-known forex broker headquartered on Wall Street with offices located across the globe, from London to Shanghai to Dubai. Our TopTenREVIEWS Gold Award winning forex broker supports standard market-maker accounts as well as low-commission, ECN accounts for Pro account holders. This forex broker provides high quality service, volumes of educational media and access to popular trading platforms. Alpari has been in business since 1998 and has all the regulatory credentials for forex trading in the U.S.

    Since forex trading is complicated and risky, Alpari offers a risk-free practice demo account. Demo accounts stay open for 30 days with the option to extend. Due to the huge potential for losses related to forex trading, we recommend that you take advantage of the volumes of educational material provided by Alpari. Experienced traders can take advantage of the 50:1 leverage Alpari provides in the U.S. Pro account holders can utilize one-click trading, market depth, NDD execution and online forex trading. Alpari also offers futures trading, swap-free accounts and Expert Advisor VPS hosting.

    When it comes to analyzing forex brokers, it is all about the fine print. It seems that many people believe that Alpari is an ECN broker and think that they will be getting fast, non-dealing-desk execution and direct access to the interbank market. However, in the fine print you will discover, after following an asterisk reference, that NDD refers to Pro accounts only. Pro accounts start out with a $10,000 minimum deposit and are commission based. Standard accounts collect compensation by benefiting from the bid/ask spread, which is essentially a market-maker setup. Market-maker brokers act to their own advantage to obtain their commission, which may or may not be to the advantage of their clients. If you are interested in opening a standard account, ensure that you are able to lose any money you use. However, we recommend Alpari only to those who are experienced enough and prosperous enough to open and fund a Pro account.