Alpari review 2021

Alpari is one of the first brokers in the former Soviet Union countries. Today, Alpari is the largest broker in the post-Soviet states by the turnover and number of customers.

Alpari provides access to trading and targets CIS market, but is ready to work with the traders from other countries. Alpari Limited is registered in the offshore jurisdiction (Saint Vincent and the Grenadines). The broker is incorporated under license number 20389 IBC 2012 issued by the Financial Services Authority (FSA).

Over the period of its operation, the company received over a dozen of awards, including FX Empire for innovation, Finance Magnates as the Best Binary Option Broker 2015, Best Broker in Europe 2013, etc.

If one were to give a general assessment of Alpari, it would say that it is one of the most stable and large brokers. If that were not the case, the company wouldn’t have managed to stay on the market for over 20 years, although there are negative reviews about it as well.

Alpari: pros and cons

Pros

Long term of operation in the market Bonus program with cash back, numerous special offers, VIP club, contests with big prize pools. Simple registration Over 30 payment systems to choose from, ensuring convenient deposit and withdrawal. Wide choice of communication channels to contact support team. High quality educational courses (online and offline). Information and analytics support. Affiliates in different countries. Known liquidity suppliers - Currenex and Integral, whose client list includes Bank of America, Deutsche Bank and other known financial organizations. Focus on PAMM accounts, which are well suited for passive investing into successful traders.

Cons
Alpari’s absence in the legal framework of Russia. Alpari’s license issued by the Russian Central Bank was revoked in 2018. Comparatively small choice of trading instruments. Registration in an offshore territory (Saint Vincent and the Grenadines). Narrow spreads, in fact, worse than average market spreads.

As of September 2020, the majority of the broker’s customers come from the former Soviet Union countries. Over half of the clients reside in Russia, and a large part of them come from Ukraine and Kazakhstan.

Our test confirmed that Alpari targets the market of the former Soviet Union countries, while the broker is rather weakly represented in other regions of the world.

Alpari offers seven types of accounts that differ by the size and principle of charging commissions. There are accounts, where the commission is charged as a spread and the ones where a fee is charged per each transaction. Alpari is a classic example of a Forex broker. Therefore, its system of commissions is also tailored to the Forex market. Our analysis shows that the Forex market is where the broker offers the most beneficial options for active trading and passive investing.

Pros and cons of Alpari’s commissions and fees

Pros
Low commissions on Forex market Spreads on CFDs are at the market level or lower than the market on the majority of trading accounts Low non-trading commissions

Cons
Unbeneficial conditions for CFD and cryptocurrency trading.

Summary of commissions and fees on Alpari

The spreads and commissions will vary depending on the chosen trading account and this is something to be aware of. As an example, let’s compare conditions for ecn.mt4/pamm.ecn.mt4 and special.ecn.mt4/pro.ecn.mt4/pamm.pro.ecn.mt4 for popular trading instruments.

* Here and below all data is provided as of August 2020

Trading conditions of Forex market

Let’s review in more detail what Alpari offers for the Forex market. To begin with, let’s try and find out which of the trading accounts is the more beneficial for trading the three classes of currency pairs: major, cross rates and exotic. The accounts with the same conditions are merged into one column. For convenience, all commissions have been recalculated to show a specific amount in US dollars per 1 standard lot. The amount already includes the spread and commission on certain ECN accounts.

As we can see, Alpari offers the best conditions for trading major currency pairs and cross rates on ecn.mt4 and ecn.mt5 accounts. At the same time, for such exotic pairs as USDRUB and USDZAR, it is cheaper to use pro.ecn.mt4 and special.ecn.mt4 accounts.

Comparison of commissions

Let’s compare the commissions charged by Alpari on ECN account, and those charged by NordFX Pro and JustForex Pro on the most popular pair EURUSD and on one top cross rate and exotic pair. As an example, we used the purchase of one standard lot – 100,000 units of base currency.

The comparison shows that Alpari’s commissions on ECN account are low, lower than those of competitors on all classes of currency pairs.

Noteworthy, on pro.ecn.mt4, the broker charges commission for opening a position and closing it immediately after opening an order, and on ecn.mt5, the commission is written off separately for opening and for closing.

Commissions on CFD market

In addition to currency pairs, Alpari offers a small choice of CFDs with average commissions. As the markets are available fragmentarily, the comparative table below shows how much a trader will have to pay in reality for execution of one lot of most popular CFDs for the amount of USD 5,000. The final commission includes all specified expenses on Alpari (ECN MT4 account), NordFX (Pro) and JustForex (PRO).

As we can see, Alpari’s level of commissions on this market can be considered average, while NordFX offers much better conditions.

Commission on PAMM

Alpari is primarily known for PAMM, a joint investment technology, the broker being one of its founders. It is the simplest and most popular method of passive income on the broker’s platform.

The broker does not charge commission for using the service directly. Commissions on PAMM accounts correspond to the standard commissions. However, the investors should be aware that the account managers they choose charge their own commissions. As a rule, the management commission ranges from 10% to 40% of the investor’s income

Non-trading commissions

Alpari’s non-trading commissions are low. The broker offers deposit and withdrawal methods without commissions or only with the commission of the payment system only. Inactivity fee is low at USD 5 per month after six months of inactivity.

Alpari has a rather complex legal structure. As the legal entities are registered in the offshore territories, the ultimate beneficiaries are not disclosed and the connection between them is hard to establish.

Pros and cons of reliability and regulation of Alpari

Pros
Operation in the market since 1998

Cons
Registration in an offshore territory We didn’t manage to check availability of the brokerage license. Central Bank of Russia revoked the license due to violations.

• On the territory of the majority of countries, Alpari provides services on behalf of Alpari Limited, a legal entity registered in Saint Vincent and the Grenadines, an offshore territory. Address: Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines. Registration No. 20389 IBC 2012.

The following document can be found on the broker’s website:

Noteworthy, we couldn’t find the company with the name Alpari Limited in the database of Saint Vincent and the Grenadines regulator (FSA).

Also, information can be found about registration of Alpari Limited in Belize. We could not establish the connection between these legal entities.

In 2016, Alpari received a license of a Forex dealer from the Central Bank of Russia. In 2018, the license was revoked due to systematic violations by the broker, according to the Central Bank of Russia. The claims against the broker included the following:

• Manipulations with financial reporting.
• Registration of the majority of accounts in an offshore territory, not in Russia.
• Aggressive marketing.

After the company’s license was revoked, the broker, nonetheless, continued to operate on the Russian territory as usual.

Alpari is a member of the Financial Commission, an international organization specializing in settlement of financial disputes. Commission on Regulation of Relations Between Financial Markets’ Players and the National Forex Dealer Association were established in Russia with support of Alpari.

Long experience of operating in the market speaks in favor of Alpari in terms of reliability and regulation.

Alpari does not offer a big choice of trading instruments. Mostly Forex currency pairs, precious metals and up to two dozen CFDs on indices, cryptocurrencies and commodities are available. Meanwhile, the broker offers several types of investment offers, which are Alpari’s specialty.

Pros and cons of the broker’s market diversity

Pros
Big choice of currency pairs on Forex: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, etc. 46 currency pairs in total. Good opportunities for passive income.

Cons
Small choice of instruments

Market accessibility on Alpari

As you can see, Alpari is at the level of NordFX and JustForex in terms of asset variety. Also, investment into investment products are available on Alpari.

Forex market

Alpari primarily focuses on Forex trading. At the moment, 46 currency pairs are available for trading on the broker’s platform. To be fair, in the majority types of accounts, the broker offers market execution of orders, which adds to its reliability.

In the table below, you will find that by the number of currency pairs available for trading on the Forex market, Alpari is behind JustForex, but still has more available options than NordFX.

In addition to major currency pairs, there are also exotic pairs available, such as GBPSGD, USDMXN, USDTRY. Overall, the market is represented enough to satisfy the interests of the majority of the users.

CFD Market

Alpari provides access to 18 CFD instruments (on stock indices, cryptocurrencies, commodities). As a reminder, trading contracts for difference is considered high risk due to a big leverage. That is why, it is important to treat this instrument with caution and try to follow the money management rules.

Let’s compare the diversity of CFD instruments on Alpari and other brokers - NordFX, JustForex.

Alpari offers a rather modest choice of CFD instruments, with stock market not available at all. However, the broker compares favorably with NordFX and JustForex in terms of diversity of offers. Thanks to specification of contracts, you can learn about conditions in more detail and make an informed decision.

Commodities

Commodities are weakly represented on Alpari. The Metals tab in the contract specifications contains only two instruments: spot silver and gold. The trading conditions are as follows:

• XAGUSD. Spreads from 0.2 pips, minimum price change – 0.001, there are days with swap free option (available on standard.mt4, ecn.mt4 and pro.ecn.mt4 accounts);
• XAUUSD. Spreads from 4 pips, minimum price change – 0.01, there are days with swap free option (available on standard.mt4, ecn.mt4 and pro.ecn.mt4 accounts).

Investment products

PAMM investment is Alpari’s proprietary product, which many other brokers have adopted. This unique system was launched back in 2008 and it has been undergoing improvements ever since. There are two options here:

• PAMM portfolios, which includes several PAMM accounts selected based on risk/profit ration. The broker allows any trader to create such portfolio and attract funds of other investors, thus earning passive income. For investors, the portfolios are convenient, because they only have to pay commission to the manager from the profit they earn. In addition, in the system, PAMM manager is also a co-investor, which increases the level of his responsibility.

The manager benefits not only from investment, but also earns a reward (as a rule 10-40%) from the earned profit. According to the broker’s statistics, on some accounts, income exceeds 100% per year, which is a very impressive result. One shouldn’t forget, however, that there is a risk of losing money, because good results in the past do not guarantee income in the future. Minimum investment into PAMM portfolios is $100;

• PAMM accounts (also known as Alpari PAMM). These allow you to start investing in several clicks. The offers of the managers are available, the minimum investment is only $10. It is convenient that PAMM account rating is very easy to understand; you can compare the accounts as tables with charts, change parameters, filter and sort offers. The broker selects top three by popularity and profitability every month.

Let’s compare passive income opportunities on Alpari, NordFX and JustForex.

Alpari indeed offers interesting conditions for PAMM investment, a feature NordFX and JustForex cannot boast. However, the latter two offer copy trading services and also other investment opportunities (for example NordFX has RAMM accounts).

To gain access to the services of Alpari, you need to register on the website – a simple procedure that will take a couple of minutes. You need to fill out a standard registration form, providing your first and last name, email and contact number. The broker offers to review the Client Agreement and Privacy Policy, which clearly regulate the rules and obligations of the parties.

Pros and cons of the registration system on Alpari

Pros
Simple registration procedure Demo account that allows to explore the functions of the platform Simple identification procedure (verification is additionally required for the managers of PAMM portfolios)

Cons
Personal account is overloaded with information, which takes time to get used to

What is the minimum deposit on Alpari?

Alpari is prepared to work both with professionals and beginners, and zero minimum deposit is a proof of that (available on Nano account, which is considered the best for the new traders). You can practice and hone your trading strategies with any amount in your pocket.

To be fair, zero minimum deposit is not applied to all account types on Alpari. In the table below, we provide the minimum deposit on different accounts offered by the broker:

Citizens of which countries cannot trade on Alpari

The company does not work with residents of the UK, the USA.

Documents required for opening an account

Proof of identity is mandatory for Alpari customers. A user can fill out an application for verification in English, Russian or Ukrainian (if desired). The broker provides the forms. If your state language is different, you can submit an application with a notarized translation. Information required for registration is provided in the table below:

Noteworthy, if the documents are filled out incorrectly or the copies are of poor quality, Alpari can reject registration application.

Types of accounts

Alpari offers a wide choice of account types, including ECN. The beginners can practice using a demo account or choose one of the real accounts for trading currency pairs, metals or CFDs.

Demo account

Many traders praise Alpari for its client-oriented policy. Availability of a demo account for risk-free trading confirm this. To open a demo account, all you have to do is register on the platform. The account has no expiration date. You can explore the functions of the platform and test strategies as long as you want.

By participating in Virtual Reality contest, even using the demo account, you have a chance of earning real money. As we were preparing the review, the prize pool there amounted to USD 870. The contest lasts for three weeks.

Nano

Nano is a cent type of account, designed for new traders. Cents are base currency here (the user can choose between USD and EUR). The account is convenient for the beginners, as there is no minimum deposit on it.

• Trading Platform: МТ4;
• Method of execution — Instant Execution;
• Base currency options: USD, EUR;
• Instruments: metals, 33 currency pairs;
• Minimum deposit — zero;
• commission on trade volume: zero;
• commission per lot: zero;
• average spread for EURUSD: floating, 1.5 pips.
• Maximum number of orders — 25.
• Leverage — up to 1:500.
• Stop Out — 10% of the deposit amount.

Standard

Standard account is suitable for more advanced traders. You can trade on МТ4, and МТ5 platforms. The minimum deposit varies depending on the choice of the trading platform. The minimum deposit ranges from USD 20 to USD 100 respectively. Leverage is 1:1000-1:10. Stop out — 20%.

• Trading Platform: МТ4, МТ5;
• Method of execution — Instant Execution;
• Base currency options: USD, EUR, RUB;
• Instruments: metals, 33 currency pairs;
• Minimum deposit — from $20 to $100 (depending on the choice between standart.mt4 and standart.mt5);
• Commission on trade volume: zero;
• Commission per lot: zero;
• Average spread for EURUSD: floating, 1.5 pips.
• Maximum number of open positions — 500.
• Leverage — 1:1000-1:10.
• Stop Out — 20% of the deposit amount.

ECN

ECN is a type of account recommended for professional traders. The account offers the maximum number of trading instruments on Alpari: 46 currency pairs, 18 CFDs, 2 metals. Just as for the previous account, trading on this account is available on MT5 and on MT4. The minimum deposit is $300 and $500 respectively. On ecn.mt5, a commission is charged – USD 16 per USD 1,000,000.

• Trading Platform: МТ4, МТ5;
• Method of execution — Market Execution;
• Base currency options: USD, EUR, RUB;
• Instruments: 2 metals, 46 currency pairs, 18 CFDs;
• Minimum deposit — from $300 to $500 (depending on the choice between ecn.mt4 and ecn.mt5);
• Commission on trade volume: 16 USD per 1,000,000 USD;
• Commission per lot: zero;
• Average spread for EURUSD: floating, from 0.3 to 0.9 pips.
• Maximum number of open positions — 1500.
• Leverage — 1:3000-1:2.
• Stop Out — 60% of the deposit amount.

PRO

PRO is another type of account for professional traders. Trading is available on MT4 platform. The minimum deposit on this account is USD 500. Commission on trade volume is USD 16 per USD 1,000,000.

• Trading Platform: МТ4;
• Method of execution — Market Execution;
• Base currency options: USD, EUR, RUB;
• Instruments: 2 metals, 46 currency pairs, 18 CFDs;
• Minimum deposit — $500;
• Commission on trade volume: 16 USD per 1,000,000 USD;
• Commission per lot: zero;
• Average spread for EURUSD: floating, 0,3 pips.
• Maximum number of open positions — 1500.
• Leverage — 1:3000-1:2.
• Stop Out — 60% of the deposit amount.

Comparison of Alpari accounts showed that the most interesting trading conditions are offered on ECN and PRO. They feature a variety of trading instruments, market execution of orders and flexible leverage. However, Nano account may be interesting for beginners, as this cent-type of account has zero minimum deposit.

How to open an account: step-by-step guide

To open an account on Alpari, click Register in the upper right corner on the home page:

Provide personal information in the offered electronic application form:

• First Name;
• Last Name (Surname);
• Email;
• Telephone number.

Then just tick the boxes accepting Client Agreement and Privacy Policy. We recommend that you review the legal documents to be aware of all the details of future cooperation.

Noteworthy, the broker works only with the users who are older than 18. It is also mandatory to provide consent to processing of personal data.

Next, you need to provide the country and city of residence:

All that is left to do is select the method of confirmation:

• Via email;
• Via SMS.

Completing registration, the user undertakes to provide documents for confirmation of the specified personal information (in particular, passport). Alpari tries to comply with the laws and KYC/AML rules, counteracting money laundering.

After you complete the registration, your account will open, and you will be able to change password (the broker recommends it to improve security), and also deposit money on the account, open an account (real or demo), begin PAMM investment.

Base currencies of the account

Alpari works with three base currencies: US dollar, Euro and Russian ruble. Please keep in mind that in case deposit/withdrawal currency and account currency do not match, you will bear conversion expenses.

Alpari offers a large number of payment methods. In addition to wire transfers, customers can use debit/credit card transfers, electronic and cryptocurrency wallets, online banking. The quickness of financial transactions, as well as the fees, depends on the chosen payment method.

While preparing this review, we noticed that Alpari reimburses part of the fees, in particular, for deposits via Beeline, MTS, Megafon outlets. Also, part of fees is compensated if users deposit funds via online banking (Kykyryza, Beeline, Qiwi, Sberbank Online). We evaluated the deposit and withdrawal choice as excellent.

Pros
Big choice of payment systems Partial compensation of the fee

Cons
When you are using electronic payment, confirmation by phone is required (for the first time). Deposit/withdrawal fee charged

Methods and timeframe for deposits

Let’s compare the number of payment methods available on Alpari and its competitors – NordFX, JustForex

It is clear from the table that Alpari offers a much wider choice of payment methods than the broker’s competitors.

Methods of withdrawal and fees

There should not be any issues with withdrawal of funds. Alpari offers a rather wide choice of withdrawal methods, although fewer than deposit methods

The fastest way to withdraw earned income is to use one of the electronic payment systems. Noteworthy, AdvCash, NETELLER, TC Wallet, QIWI Wallet charge zero withdrawal fee.

Alpari offers its customers to trade on MT4 and MT5, customary platforms to many traders. There is a short review about the platforms on the broker’s website and a full-fledged FAQ section to provide users with better understanding about how to use these platforms. MetaTrader 4 and 5 are available in web version, desktop and mobile versions (for Android and iOS devices).

Comparative table with competitors

MetaTrader 4 is considered the most popular platform for Forex trading. The platform has not lost its popularity despite that it was launched back in 2005.

Pros
Good analytics for technical assessment of the market condition User-friendly interface, which makes MT4 the best option for beginners Possibility of loading indicators, robots, experts

Cons
Weak fundamental analysis Primitive view of charts and other instruments for analysis No flexibility in chart settings Small number of base orders

Key features of MT4:

• 3 types of order execution;
• Possibility of building own robots for algorithmic trading, and also loading ready software (indicators, advisors);
• One-click trading;
• Adaptation to different platforms (desktop version is supplemented with the browser version, and also iOS and Android applications);
• Simplified technical analysis thanks to availability of built-in graphical analysis instruments, around 50 indicators.

How to place orders in Metatrader 4

MetaTrader 5

This is an upgraded and improved version of MT4. In the upgraded platform, the developers tried to remove all the drawbacks, add new instruments for marking, drawing and timeframes. Special attention is paid to the possibilities for fundamental analysis (economic calendar, financial newsfeed, etc.)

• 4 types of order execution;
• 6 types of deferred orders;
• Possibility of using any orders for realization of different strategies;
• Instruments for trading market dynamics: 30 technical indicators, 20 line instruments;
• Integrated MQL5 allows to optimize the operation of trading robots and make trading even more convenient;
• Availability of virtual hosting lease directly on the platform;
• Availability of scripts, allowing the user to close position with one click.

Alpari’s website features a rather advanced analytical section. It has several tabs featuring market reviews, cryptocurrency charts, Forex and central banks’ rates. There is a currency converter, instruments for analysis (analytical services, event calendar, financial markets’ news, Autochartist).

Pros
High quality analytical materials Selection of specialized analytical services (for Alpari customers, they are free of charge) User-friendly Alpari Mobile app, which allows to trace market dynamics and trade comfortably.

Cons
Weak fundamental analysis

Market reviews

The broker publishes the latest news on Forex, cryptocurrency and other financial markets daily in the Market Reviews tab. It is a great foundation for analytics. The broker publishes 5-7 news on its website daily.

FXStreet Calendar

Many traders praise the economic calendar on Alpari’s website. FXStreet always features relevant news with detailed explanations, information about the upcoming important events in developed countries that could have an impact on trading and assessment of expected volatility, etc.

FXStreet is easy to use:

• Select your time zone;
• Determine the range of dates;
• Select the country, category, expected volatility to filter out unnecessary data.

Of the features and key benefits of FXStreet calendar, traders note that it contains detailed explanations for each indicator, that the news are relevant and structured and all historical indicators are provided as tables and charts.

Central bank’s currency rates

Alpari publishes the rates of all currencies against Ruble (Dollars, Euro, etc.). The price is set taking into account the average value of any unit of a foreign currency. The quotations are valid for the following day.

There is also similar information about digital currencies. You can find the information about cryptocurrencies in the Cryptocurrency Charts tab. There are also latest Forex currency rates on the Alpari’s official website. The information is provided as a currency pair, where one unit of base currency is shown in the quoted currency (for example EURUSD).

Currency converter

Alpari’s currency converter will be useful for analytical analysis. Using this instrument, you can quickly convert one currency into another at Forex rate, as of today or as of any other date. The service makes the calculation automatically, and literally instantly (all you need to do is enter the amount and the currency for conversion).

Instruments for market analysis

Instruments for Fundamental and Technical Analysis is another useful tab for analytics. The traders are offered to view interest rates of central banks, popular market indicators, holiday schedules, Autochartist. All services are free of charge for Alpari customers, and available 24/7.

For those used to trade using their mobile phone, the broker offers Alpari Mobile app. It features everything required for forecasting, analytics. You can switch to trading directly for an analytical review. The software is integrated well with MT4 and MT5; there is economic event calendar and instant withdrawal of funds.

Alpari is ready to work both with experienced traders and with the beginners. The broker has its own Trading Academy, which employs experts with vast Forex experience.

Pros
A big choice of educational programs Availability of free courses Several formats of learning

Cons
The most useful and interesting courses are paid for

The broker offers several formats of education. Firstly, there are offline courses, which Alpari holds offline. The company also offers online education (the lectures can be viewed both online and as recorded).

At the moment, Alpari offers around fifty courses. There is no sense in reviewing each of them separately. There are interesting options both for the beginners and for advanced traders. You can view the schedule of the courses on the broker’s website.

The most popular courses include:

• Basic Course. The name speaks for itself – the broker recommends this course for those who are only beginning to work on Forex and want to gain a good theoretical foundation. The course includes five lectures, focused on basic notions, peculiarities of working on the trading platform, opening demo and real accounts on Alpari;
• Basic Principle is a course about trading strategies, which focuses on basic principles that must be observed when developing a strategy, levels of purchase and sale;
• Hunter Strategy allows to determine the points of the lowest Stop Loss, select key levels and methods of increasing the deposit. The course includes five lectures that discuss such issues as Money Management, combination of levels for precision of the entry point, trading algorithm, peculiarities of loss-free trading, etc.

In addition to offline and online courses, Alpari recommends the new traders to review educational articles. All materials are available on the website. As we mentioned earlier, the broker offers a demo account, where the traders can practice risk-free and test their knowledge.

YouTube

Alpari is actively developing its communities on social media. In particular, the broker has a good YouTube channel (https://www.youtube.com/channel/UCaT3xVhfJdodYB9bcd_DUoQ). In the videos, you can find trading ideas, learn about trader’s profession, PAMM investment and many other things in more detail. Unfortunately, most of the videos are only available in Russian

We evaluated customer support level of the broker as high. Many channels of communications are available and the responses are quick.

Pros
Multi-language support Many channels of communication Customer support operates 24 hours a day

Cons
The reviews on the quality of the operation of the customer support are mixed Operators are available only during business days

Channels of communication

Alpari offers more than enough communication channels and the information is clearly structured. If you go to Contacts tab on the broker’s official website, you will instantly know where to go with the question that you have.

The channels of communication include:

• email: support@alpari.com, payments@alpari.com;
• Skype: alpari-connect-skype;
• Online chat;
• Feedback form;
• tickets;
• Messenger: https://m.me/AlpariCIS
• Telegram;
• Viber: +1 (784) 430-3918
• VKontakte.

Alpari also has a good phone support. For calls from Russia, you need to use 8 800 200 01 31. Also, an international number is available: + 44 2031 29-37-99.

Languages and operating hours of customer support:

The operator service also accepts trading instructions by phone (24 h, Mon.-Fri.). The contact number is +44 2031 293-799.

The company has an excellent loyalty program, many contests, offers and bonuses. In particular, there is Alpari Cashback within the loyalty program. The broker is prepared to compensate part of the expenses to the traders (up to 20% of the expenses on spreads and trading fees on ECN account, up to 100% on deposits and up to 40% on conversion). In addition, the higher the user’s status (GOLD, PLATINUM, DIAMOND, VIP) within the loyalty program, the more bonuses, preferences and opportunities the trader receives. The bonuses can also be converted into real money (as of the moment, when this review was prepared, the broker stated that it paid USD 13,798,422).

Every user who registered on Alpari and became the broker’s customer becomes a participant of the loyalty program. The level of the participant is updated weekly. The higher the trading volume, the higher the status.

In addition to the loyalty program, Alpari has many contests with the prize pool in 2020 at around USD 100,000. Around a hundred winners are selected every month.

At the moment, the following contests are being held:

• Trader Wars. The prize pool is USD 2,300. The contest takes three weeks;
• Formula FX. Every round of the contest takes 1 week. To win, you need to show maximum income within the specified period. The prize pool is USD 1,620;
• Virtual Reality. This is the only Alpari contest, where you can win money without risking anything. The contest is held for the holders of demo accounts. The user that has the best trading results over three weeks will become the winner. The prize pool is USD 870

This broker is interesting for the people aiming to diversify investments through PAMM. Alpari has very few competitors in terms of simplicity of investment and the huge choice of portfolios.

The broker might not offer the best choice of trading instruments for active trading, but does have many advantages: ECN with acceptable level of commissions and fees, a big choice of payment systems for deposit/withdrawal, interesting offers and contests, wide possibilities for learning.

Alpari has been providing services since 1998 and is considered one of the Forex experts. In terms of reliability, the broker’s registration in Saint Vincent and the Grenadines and the fact that the Central Bank of Russia revoked the company’s license can be considered serious drawbacks.

To test Alpari platform and consider all pros and cons, we recommend starting with a demo account. Using the demo account, you can practice risk-free and also test your skills in the contests that provide an opportunity to win real money.