- March 24, 2016
- By: Forex Reviewer
- No Comments
User Rating:Updated on: March 24, 2016
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30+ Currency Pairs
CFDs carry risk.
Alpari Broker Review
Alpari are one of the biggest names in forex trading with offices in all the major financial centres and a few more besides. They are trading larger volumes than many of their closest competitors put together with an average of $210bn each month. The UK arm of Alpari has been in existence since November 2004, when it formed as a private limited company and it has gone from strength to strength. The company boasts many awards, including as prestigious Best Overall Forex Broker of the Year 2012, but there were many other awards in 2012, as well as 2011, 2010 and 2009.
As expected from such a large company, Alpari offers a wide selection of the most popular forex pairs, but the selection does vary from platform to platform with Alpari. Whichever trading platform you use, you can be sure Alpari has more than enough products to keep you busy. Alpari’s Pro accounts offer the largest selection of currency pairs with a total of 57, 23 more pairs than their micro or classic accounts. Although the forex pairings are the same for each of the trading platforms, some offer CFDs and others don’t. Much of what you have on offer depends very much on the platform (and account) on which you are trading. This may not suit all people, but it simplifies things for people who want a limited amount of options to help them focus their trading.
Alpari offer the latest version of MetaTrader (MT5), but MT4 is available for those who are familiar with the platform from other brokers. They also offer a Pro account, which allows you to use their Currenex platform that is a serious piece of kit. This has exceptional data and depth of market and you benefit from zero re-quotes by using this system. Systematic is another platform that automates your forex trading with access to more than 2000 strategies to aid your decision-making. This software is available with an Alpari Classic account rather than a Pro account, which is needed for the Currenex platform.
Alpari Advantages and Disadvantages
Alpari as a company benefits its users by producing some of the most up to date information and research available and few brokers can compete with their market knowledge. Alpari have honed their business over many years and they are definitely a favourite among professional traders more than the casual investors or forex enthusiasts. Their good standing gained from multiple awards year on year and super high volumes traded each month means they are doing something right.
What I liked about Alpari
You definitely know you are dealing with an experienced broker whenever you contact Alpari customer services and this gives you a lot of confidence. Provided you use a Pro account, you have access to some of the best data and the slickest platform to be found with any other online broker. You have a lot of choice with Alpari, but if you don’t need to access all the information or markets, you have the option of using a more basic account.
What I didn’t Like
Disappointingly, there are a few reasons to be frustrated with Alpari. The spreads are nowhere near as tight as some other brokers are and you could well suffer from the dreaded re-quote depending on the platform and account you operate. Despite much of their advertising stating there are no re-quotes and instant trade executions It’s no fun when you find re-quote after re-quote appear.
CFDs carry a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.
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