Alpari-Forex – A Quick Review

With its claim to over a decade of trading in the market, this broker is practically a veteran among the rookies – and it has features to show for it. Demo accounts are already a standard offering for most forex brokers; this one goes one step further and offers you Mini accounts, which don't have any minimum or maximum limits for your deposits. Regardless of the account type that you'll be availing, the online account registration process is consistently user-friendly and uncomplicated all throughout.

Transactions are executed on Meta Trader 4, a widely popular platform used by many brokers aside from this one. Aside from the inherently clear and organized layout of the software platform that makes it so easy to use, it also gives you spreads of 2 pips or better – this may vary with the type of your account. You don't have to stick to any one kind of trading, too; your trading options with this broker includes an above average selection of currency pairs and even contracts for differences (CFD). Once you start trading, you'll also get fantastic rates on leverage, all thanks to the broker.

On top of all those features, the broker also gives you several trading tools that should help you take care of basic tasks. Beginners have another reason to rejoice with this broker because it's regulated, giving you an extra level of safety for your investments. That doesn't, however, mean that you should just rush headlong into what this program is offering.

Basic Program Features:

Demo Trading: Yes; no time limits or expiration dates Rating:

Initial Investment: No initial investment requirements for Mini accounts; transactions, however, must be opened with a volume set at 1:500. Standard accounts require a minimum initial deposit of either US$200 or €200. Premium accounts, which give you VIP Client status with the broker, requires a minimum initial deposit of either US$50,000 or €50,000. Rating:

Deposit/Withdrawal Options: Bank to bank transfer, credit card, PayPal Rating:

Spread: No official statements were made by the broker regarding the exact spread that you can expect. The only commitment that the broker made was that the spread would never go below 2 pips, a promise that is subject to account class conditions. It's highly likely that this broker will give you varying and ever-changing spreads – as long as it doesn't dip below 2 pips. Rating:

Stop Point: No guaranteed stop point

Leverage: Ranges from 1:100 to 1:500 Rating:

Interest: Varies with transaction; interest rates for each transaction may be inquired with the broker

Regulation: Under active regulation of the KROUFR Financial Regulation Agency (FRA), one of the most widely used in the industry

User Tools:

Customer/Technical Support: Customer support available 24/7

Literature and Learning Materials: Financial news updates, basic help guide for traders on website

Range of Tradable Currencies: 33 currency pairs and 35 CFD options; VIP Clients are offered additional options by the broker

Language Support: Full support for 3 major languages

Freebies and Bonuses: Premium members get discounts on the usual commission charged for funds transfers

Software Platform: Meta Trader 4, compatible with any PC running Windows 98 or newer

User-Friendliness Rating:

It's easy to see why so many brokers prefer to use Meta Trader 4. The platform is very clearly arranged, showing you a lot of information in a single window without looking too cluttered. Simple and straightforward menu structures make it easy to use, yet offers much flexibility and functionality.

Advantages

First of all, this broker doesn't require you to make any minimum deposits for Mini accounts. Take note, though, that opening a Mini account also means that you're agreeing to work with a leverage set by the broker. Leverages are the second advantages of this broker; more seasoned traders will be sure to get a huge advantage out of the 1:500 rate being offered. Beginners, meanwhile, shouldn't be having any trouble either, especially with the very simple yet powerful Meta Trader 4 platform.

Many options are available for trading, and it'll probably take a long time before you're able to exhaust all the currency pairs and CFD options that are offered. And you'll probably be encouraged to try, especially since the broker is regulated – albeit by a relatively obscure organization.

Disadvantages

Mini accounts require you to trade with a very high leverage, which is something that's very intimidating – disadvantageous, even – for beginners. As a beginner, you may find it slightly better to just open a regular account, which would then require you to deposit a minimum amount. Trading tools are also somewhat lacking, and probably won't be enough for a lot of traders out there.

The spreads offered by the broker aren't exactly attractive. The thought of the broker making that much money off each transaction will be sure to turn off some traders.

Either way, traders won't be voting this the 'perfect' broker by any definition. Mini accounts, which are meant to help introduce newer members to the trading game, isn't offering terms that are very easy to handle – an important factor for rookie traders who are still apprehensive about financial risks. Seasoned traders, meanwhile, will likely be put off by some of the broker's technical shortcomings such as the lack of tools and the unappealing spread figures.

Overall Rating: 4/5

Important Reminder: Please note that brokers are likely to change their trading platforms, programs, software and offers on a regular basis and without prior notice. As such, the platform version and program you eventually use may differ greatly from the one that we reviewed. Please check with the broker before signing up with any program to determine any inaccuracies in this review.