Alpari Review
Alpari is a reputable broker that is regulated by the FSC. Alpari has local offices in Lagos, Nigeria, and offers four retail investor accounts to Nigerian Traders. Overall, Alpari has a Trust Score of 95% out of 100. Alpari is currently not regulated by the CBN.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.5/5
Min Deposit
USD 100
Regulators
FSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
on Alpari’s website
Alpari at a glance
| 🏛️ Headquartered | Mauritius |
| 🏛️ Nigerian Based Office | Yes |
| 👍 Accepts Nigerian Traders? | Yes |
| 📅 Year Founded | 1998 |
| 📱 Nigerian Office Contact Number | +234 811 111 1850 |
| ⚖️ Regulation | Financial Services Commission Mauritius (FSC) |
| 🔎License Number | C113012295 |
| ⚖️ CBN Regulation | No |
| ✴️ Regional Restrictions | The United States, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Brazil, Puerto Rico, The Occupied Area of Cyprus |
| ☪️ Islamic Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Retail Investor Accounts | 4 |
| 🚀 Offers a Nigerian Account? | Yes, NGN-based account |
| 💻 Dedicated Nigerian Account Manager? | No |
| 📈 Maximum Leverage | 1:1000 |
| 📈 Leverage Restrictions for Nigeria? | No |
| 💳 Minimum Deposit (₦) | 1,000 Nigerian Naira |
| 💳 Nigerian Naira Deposits Allowed? | Yes |
| 💰 Active Nigerian Trader Stats | 1.3 million |
| Active Nigerian-based Alpari customers | 150,000+ |
| 💰 Nigeria Daily Forex Turnover | $1.25 million+ |
| 💳 Deposit and Withdrawal Options | Bank Transfers, Credit Cards, Debit Cards, Electronic Payment Systems, Bitcoin, Bank Wire Transfer |
| 💰 Segregated Accounts with Nigerian Banks? | Yes |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5 |
| 💰 Tradable Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 🌐 Offers USD/NGN currency pair? | No |
| 🌐 USD/NGN Average Spread | N/A |
| 📈 Offers Nigerian Stocks and CFDs | Yes |
| 👨💼 Languages supported on Website | English, Chinese (Simplified), Chinese (Traditional), Persian, Indonesian, Spanish, Filipino, Portuguese, Malaysian |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/5 |
| 👥 Nigerian-based customer support? | Yes |
| 💰 Bonuses and Promotions for Nigerians | Yes |
| ✴️Education for Nigerian beginners | Yes |
| 📊 Proprietary trading software | No |
| 💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️Is Alpari a safe broker for Nigerians? | Yes |
| ✔️Rating for Alpari Nigeria | 9/10 |
| ✔️Trust score for Alpari Nigeria | 95% |
Alpari Review – 16 key points quick overview:
Alpari International Overview- Regulation and Safety of Funds
- Account Types and Features
- Account Registration
- Alpari VS Exness VS JusForex – Broker Comparison
- Alpari Trading Platforms
- Alpari Range of Markets
- Alpari VS Exness VS JustMarkets – Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- The process to Withdraw Funds from an Alpari Account
- Education and Research
- Bonuses and Promotions
- Verdict on Alpari International
- Alpari Pros and Cons
- Frequently Asked Questions
Alpari International Overview
Alpari was established in 1998 and it rebranded to Alpari International in 2013.
Alpari has a large presence in Nigeria because of its local offices in the region.
According to the official website of Alpari International, the broker is one of the largest brands in the industry. There is a dedicated team that works toward providing comprehensive trading and investment solutions to retail traders and investors.
There is a broad range of services offered that allows retail traders to ensure that they get the best guidance, financial advice, and resources to make informed investment decisions.
Alpari International is a globally recognized broker that manages a safe, fair, and transparent trading environment geared towards both beginner and professional traders.
To date, there are over 2 million registered users who use the services of Alpari International from 8 global locations across three continents. Alpari International has over 20 years’ experience in several financial markets and the broker offers more than 250 financial instruments.
This Alpari Nigeria review will provide traders the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.
Distribution of Traders
The distribution of traders for Alpari is as follows:
️ Germany – 18%
️ Bahamas – 15.95%
️ Nigeria – 14.25%
️ Russian Federation – 7.82%
️ Turkey – 6.96%
Popularity among traders who choose Alpari
Alpari has a large market share in Nigeria of over 14%, making this broker part of the Top 5 brokers for Nigerian traders.
Regulation and Safety of Funds
According to the official Alpari International website, the broker operates in the Republic of Mauritius under the name Exinity Limited, with Alpari International as the trading arm of this entity.
Alpari International is regulated and overseen by the Financial Services Commission in Mauritius under license number C113012295 Code FS-4.1, Code SEC-2.1B. The financial institutions and the liquidity providers that Alpari International uses have a high level of trustworthiness to ensure that the trading environment is safe and fair.
Alpari International is fully compliant with all anti-money laundering procedures and the broker is geared towards accountability, transparency, security, and building a solid reputation as an international forex broker.
All client funds are kept in segregated accounts, separate from the broker’s funds, with top-tier banking institutions in Europe. The funds that Alpari International receives are not used to run operations or to fulfil financial obligations. Clients who register a live trading account with Alpari International are subject to a “Know our Customer” (KYC) procedure whereby clients must verify their identity and their proof of address.
Account Types and Features
Alpari International offers retail forex traders a choice between four live trading accounts spread across Micro, Professional, ECN, and Standard accounts, allowing traders to choose the one that suits their unique trading objectives and needs.
Regardless of the trading experience of traders, they can find a suitable trading solution through Alpari International.
Live Trading Accounts
The live trading accounts that Alpari International offers include a Forex Standard Account (MetaTrader 4), Forex Micro Account (MetaTrader 4), Forex ECN Account (MetaTrader 4 and MetaTrader 5), Forex Pro Account (MetaTrader 4).
Forex Standard Account (MetaTrader 4) Features
Alpari International’s standard FX account is accessible to traders of all skill levels and provides a user-friendly and safe trading environment. The standard account offered by Alpari International provides ideal trading conditions for most intermediate traders.
| Account Feature | Value |
| 💰 Base Account Currency Options | USD, EUR, GBP, NGN |
| 💳 Minimum Deposit | 100 USD, EUR, GBP or 20,000 NGN |
| 💳 Maximum Deposit | None |
| 📈 Maximum Leverage | Floating from 1:1000 |
| 💰 Commission Charges | None |
| 📈 Average Spread | Floating from 1.2 pips |
| 🚀 Order Execution Type | Instant |
| 📊 Margin Call (%) | 60 |
| 📊 Stop-Out (%) | 40 |
| ✴️ Swap-Free Option | Yes |
| ✴️ Range of Markets | 61 pairs – Forex Major Pairs, Minors, Exotics, 5 Spot Metals, 14 Spot CFDs |
| 📊 Minimum Trade Volume | 0.01 lots |
| 📊 Maximum Trade Volume | 30 lots |
| 💰 Maximum Number of Orders | Unlimited |
| 📈 Maximum Order Volume | 100 Lots |
| 📊 Maximum Pending Orders | 100 Lots |
Forex Micro Account (MetaTrader 4) Features
The Micro Account is like a traditional account with the benefit that trading is done in cents. This account is ideal for beginner traders and those who are testing their trading strategies or practicing their trading skills.
| Account Feature | Value |
| 💰 Base Account Currency Options | USD, EUR, GBP, NGN |
| 💳 Minimum Deposit | 5 USD, EUR, GBP or 1,000 NGN |
| 💳 Maximum Deposit | None |
| 📈 Maximum Leverage | Fixed, 1:400 |
| 💰 Commission Charges | None |
| 📈 Average Spread | Floating from 1.7 pips |
| 🚀 Order Execution Type | Instant |
| 📊 Margin Call (%) | 50 |
| 📊 Stop-Out (%) | 30 |
| ✴️ Swap-Free Option | Yes |
| ✴️ Range of Markets | 25 Pairs – Forex Major Pairs, Forex Minor Pairs, 2 Spot Metals |
| 📊 Minimum Trade Volume | 0.01 lots |
| 📊 Maximum Trade Volume | 1 Lot |
| 💰 Maximum Number of Orders | 1000 |
| 📈 Maximum Order Volume | 5 |
| 📊 Maximum Pending Orders | 100 Lots |
Forex ECN Account (MetaTrader 4/5) Features
The ECN Account offered by Alpari International offers flexible, transparent, and efficient trading conditions and an immersive trading experience for advanced traders. With this account, experienced traders are given the best bid/ask prices from trusted liquidity providers.
Electronic Communication Network is an automated system that connects buyers and sellers to banks, brokers, or other liquidity providers so they may execute deals. Direct access to liquidity providers and the ability to match buy and sell orders are two of ECN’s many advantages.
| Account Feature | Value |
| 💰 Base Account Currency Options | USD, EUR, GBP, NGN |
| 💳 Minimum Deposit | 500 USD, EUR, GBP, or 20,000 NGN |
| 💳 Maximum Deposit | None |
| 📈 Maximum Leverage | Floating from 1:1000 |
| 💰 Commission Charges | $1.5 per lot, per side |
| 📈 Average Spread | Floating, from 0.4 pips |
| 🚀 Order Execution Type | Market |
| 📊 Margin Call (%) | 100 |
| 📊 Stop-Out (%) | 80 |
| ✴️ Swap-Free Option | Yes, only on MetaTrader 4 |
| ✴️ Range of Markets | MetaTrader 4 – 56 Pairs on Forex, 3 Spot Metals, 25 Spot CFDs MetaTrader 5 – 57 Forex Currency Pairs, 2 Spot Metals, 14 Spot CFDs |
| 📊 Minimum Trade Volume | 0.01 |
| 📊 Maximum Trade Volume | 50 |
| 💰 Maximum Number of Orders | Unlimited |
| 📈 Maximum Order Volume | Unlimited |
| 📊 Maximum Pending Orders | 300 |
Forex Pro Account (MetaTrader 4) Features
The Alpari International Pro account offers professional traders the best liquidity, faster trade execution speeds, and the tightest spreads imaginable.
This account is suited only to professional investors, active traders, and hedge fund managers. There are no commissions, no requotes, maximizing the trading strategy of experienced traders who know what they want from their trading account.
| Account Feature | Value |
| 💰 Base Account Currency Options | USD, EUR, GBP, NGN |
| 💳 Minimum Deposit | 25,000 USD, EUR, GBP |
| 💳 Maximum Deposit | None |
| 📈 Maximum Leverage | Floating from 1:300 |
| 💰 Commission Charges | None |
| 📈 Average Spread | Floating, from 0.4 pips |
| 🚀 Order Execution Type | Market |
| 📊 Margin Call (%) | 120 |
| 📊 Stop-Out (%) | 100 |
| ✴️ Swap-Free Option | Yes, only on MetaTrader 4 |
| ✴️ Range of Markets | 54 Forex Pairs, 3 Spot Metals |
| 📊 Minimum Trade Volume | 0.01 |
| 📊 Maximum Trade Volume | 250 |
| 💰 Maximum Number of Orders | Unlimited |
| 📈 Maximum Order Volume | Unlimited |
| 📊 Maximum Pending Orders | 300 |
Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and Alpari International offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Alpari International offers the option for a demo account on these live trading accounts, which means that the demo account will mirror the trading conditions of the live account:
️ Forex Standard Account (MetaTrader 4)
️ Forex ECN Account (MetaTrader 4)
Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
However, Alpari International offers Muslim traders the option of an Islamic Account conversion on the following live trading accounts:
️ Standard Account (MetaTrader 4)
️ Forex Micro Account (MetaTrader 4)
️ Forex ECN Account (Only on MetaTrader 4)
️ Forex Pro Account
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41450 NGN
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Account Registration
To register an account with Alpari International, traders can visit the official website and select the option to “Register” from the homepage.
A form will load, and users can simply complete the required fields with the necessary information. A code will be sent to the mobile number and the email address that the user has entered, effectively verifying the user’s contact information.
Once verified, users can complete the registration and they will automatically be logged into the “MyAlpari” site that is the trader’s dashboard from where several actions can be performed.
To complete registration, the user will be required to complete several other sections including their personal, contact, financial, and other information.
Users must complete the KYC process by submitting proof of their identity and their residential address. Once complete, the account will be approved, and users can make the minimum deposit into their trading account.
Alpari VS Exness VS JusForex – Broker Comparison
| Alpari | Exness | JustMarkets | |
| ⚖️ Regulation | FSC | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | FSA |
| 💻 Trading Platform | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 | MetaTrader 5 MetaTrader 4 ZuluTrade JustMarkets App |
| 💰 Withdrawal Fee | Yes | No | None |
| 📊 Demo Account | Yes | Yes | Yes |
| 📊 Minimum Deposit | 1,000 NGN | 4,100 NGN | 400 NGN ($1) |
| 📈 Leverage | Up to 1:1000 | Unlimited | Up to 1:3000 |
| 📈 Spread | From 0.4 pips | Variable, from 0.0 pips | From 0.0 pips |
| 💰 Commissions | $1.5 | From $0.1 per side, per lot | 3 base currency units per lot/side |
| 📊 Margin Call/Stop-Out | 60% and 40% | 60%/0% | 40%/20% |
| 📊 Order Execution | Instant and Market | Market | Market |
| 💰 No-Deposit Bonus | No | No | Yes |
| 📊 Cent Accounts | No | Yes | Yes |
| 📊 Account Types | Forex Standard Account (MT4) Forex Micro Account (MT4) Forex ECN Account (MT4/5) Forex Pro Account (MT4) | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account | MetaTrader 4 Standard Cent Account MetaTrader 4 Standard Account MetaTrader 4 Pro Account MetaTrader 4 Raw Spread Account MetaTrader 5 Standard Account MetaTrader 5 Pro Account MetaTrader 5 Raw Spread Account |
| ⚖️ CBN Regulation | No | No | No |
| 💳 NGN Deposits | Yes | Yes | Yes |
| 🌐 Nigerian Naira Account | Yes | No | No |
| 👥 Customer Service Hours | 24/5 | 24/7 | 24/5 |
| 📊 Retail Investor Accounts | 4 | 5 | 7 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Alpari Trading Platforms
Alpari International offers a choice between MetaTrader 4 and Metatrader 5. This ensures that traders are given an immersive, unparalleled trading experience. These trading platforms can be downloaded and installed on the following devices:
️ Desktop PCs and Laptops that run Linux, Windows, and macOS.
️ Mobile trading platforms for Android and iOS devices such as smartphones, tablets, iPhones, and iPads
Alternatively, traders can use the web-trading interface of either trading platform by visiting the official website for MetaTrader 4 or MetaTrader 5 or using the link provided on the official website of Alpari International.
Alpari Range of Markets
According to Alpari International’s official website, the broker offers a wide range of tradable assets spread across these asset classes:
️ Forex Major Currency Pairs (19 currency pairs)
️ Forex Minors (21 currency pairs)
️ Forex Exotics (19 currency pairs)
️ Forex Russian Ruble – EUR/RUB and USD/RUB
️ Spot Metals (5)
️ Spot Commodities (3)
️ Stock Trading (10)
️ Spot Indices (27)
Alpari VS Exness VS JustMarkets – Broker Comparison for Range of Markets
| Alpari | Exness | JustMarkets | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | No | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | No | No | Yes |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | No | Yes | Yes |
| ➡️️ Bonds | No | No | No |
Trading and Non-Trading Fees
Spreads
The spreads that Alpari International charges will change according to the live account type that the trader uses in addition to the financial instrument being traded, and the market conditions on the trading day.
Alpari International only offers variable spreads according and traders can expect average spreads from:
️ Standard Account (MetaTrader 4) – 1.2 pips EUR/USD
️ Forex Micro Account (MetaTrader 4) – 1.7 pips EUR/USD
️ Forex ECN Account (Only on MetaTrader 4) – 0.4 pips EUR/USD
️ Forex Pro Account (Only on MetaTrader 4) – 0.4 pips EUR/USD
Commissions
The commissions that Alpari International charges are as a flat fee from $1.5 on the ECN Account, on both MetaTrader and MetaTrader 5. These commissions are charged per lot, per side, which means that traders will pay from $3 per round turn.
Overnight Fees, Rollovers, or Swaps
These fees are charged when traders leave their position open for longer than 24 hours after the trading session has concluded. Traders will either pay fees or they will receive credit, depending on whether they hold a short or a long position.
The average overnight fees that traders can expect on, for instance, EUR/USD is -0.06 pips on a short position and -0.61 on a long position.
Deposit and Withdrawal Fees
Alpari International does not charge any deposit fees. There are withdrawal fees charged on the several withdrawal methods offered by the broker, including:
️ FasaPay – 0.5%
️ South-East Asia Online Banking – 1.4%
️ Latin American Solutions – (Mexico) 1% + 1 EUR
️ African Local Solutions (C) – 1 USD
️ Nganluong – 1.1% + 0.05 USD
️ Visa, Mastercard, Maestro – 2 EUR, 3 USD, or 2 GBP
️ WebMoney – 2%
️ Perfect Money – 0.5%
️ Bitcoin – 1%
️ Bank Wire Transfer – 30 EUR
Deposits and Withdrawals
Alpari International offers the following deposit and withdrawal methods:
️ FasaPay
️ Local Banking China
️ Indonesian Local Bank Transfer
️ Latin American solutions
️ TC Payment
️ Latin American solutions via Skrill
️ Mexican Local Transfer
️ Egypt Local Transfer
️ Telepay Local Transfer
️ Afghan Local Transfers
️ Palestinian Local Transfers
️ African local solutions (C)
️ PayR LATAM
️ South-East Asia Online Banking
️ Turkish Local Transfers
️ Local Exchange House
️ Nigeria Local Bank Wire Transfer
️ Nganluong (E-wallet & banking channel)
️ GlobePay
️ Iraq Local Transfers (SHAK)
️ Online Banking Thailand
️ China Online Banking (P)
️ Visa
️ Mastercard Debit/Credit Card
️ Maestro
️ Skrill
️ Neteller
️ VLOAD
️ Crypto Wallets
️ TC Pay Wallet
️ WebMoney
️ Perfect Money
️ Bitcoin
️ Bank Wire Transfer
The process to Withdraw Funds from an Alpari Account
To make a withdrawal from an Alpari trading account, traders can:
️ Log into their MyAlpari client portal
️ Go to the “My Money” section
️ Select the “Withdraw” option
️ Choose the Alpari trading account or wallet from which to withdraw funds
️ Complete the withdrawal request form
️ Indicate the reason for making a withdrawal
️ Enter the PIN that was sent to the trader’s email or SMS
️ Submit the withdrawal request
To successfully request for a withdrawal from an Alpari account, the trading profile must be fully verified before withdrawals can be processed. When making a withdrawal, traders must use the same payment method that they used when they made a deposit.
In addition, withdrawals must be made proportionally to the deposits as per the payment method that was used. Alpari also warns that some credit card withdrawals can only be made within a year from when the initial deposit was made.
All withdrawal requests are processed by Alpari within 24 hours by the Back Office. However, processing times can depend on the withdrawal method that was used as some methods may take longer, especially bank wires.
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41450 NGN
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Education and Research
Alpari International offers a range of educational material on its official website, spread across the following:
️ Beginners’ Guide to Trading
️ Forex Trading Strategies Guide
️ Commodity Trading Guide
️ Precious Metals Trading Guide
️ In terms of research, Alpari International offers comprehensive proprietary CopyTrade solutions, Strategy Manager Rankings, and several other resources that can be used by more advanced traders.
Bonuses and Promotions
Alpari International offers the following bonuses and promotions:
️ A referral bonus where traders and their referrals could earn $50 when the trader shares their unique referral link, the referral registers a live account and fulfils the terms and conditions.
️ Loyalty Cashback bonus
Verdict on Alpari International
According to the comprehensive Alpari review, this broker is not only an award-winning partner in forex and CFD trading but a valuable platform that caters for both beginner and professional traders. Alpari International is well-regulated and issues a risk warning on its website, ensuring that traders understand the degree of risk involved with trading leveraged products.
Alpari International has a high level of transparency with its trading costs, margin requirements, deposit methods, withdrawal fees, and several crucial components. Alpari International offers a selection of retail investor accounts, proprietary Alpari CopyTrade, market and instant order execution, and more.
The trading costs that Alpari International charges is decent and while it may not be the lowest in the market, the broker makes up for offering comprehensive trading solutions to novice traders, professional investors, and other market participants.
Alpari Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated and award-winning CFD broker | Fixed spreads are not offered |
| Offers forex trading signals from AutoChartist and automatic trading | Not regulated by the Financial Conduct Authority, Cyprus Securities and Exchange Commission, or any other popular market regulators |
| MetaTrader 4 and MetaTrader 5 are supported across devices | There is a limited selection of trading instruments, educational tools, and research |
| News is streamed from FxWirePro | There are restrictions on several jurisdictions |
| A dedicated customer support team offers multilingual customer support | |
| Offers unique solutions to both beginner and experienced traders | |
| There are four retail investor accounts to choose from, demo accounts, and Islamic accounts | |
| There are several convenient funding options to choose from and deposit fees are not charged |
Frequently Asked Questions
Is Alpari International a fake or scam?
No, Alpari International is not considered a fake/scam as it is a well-regulated broker that is licensed and authorized by the Financial Services Commission of the Republic of Mauritius.
Which trading platforms are supported by Alpari International?
MetaTrader 4 and MetaTrader 5.
Does Alpari International offer leverage and what is the maximum ratio offered?
Yes, Alpari International offers maximum leverage up to 1:1000.
What is the overall rating for Alpari International out of 10?
9/10.
Is Alpari International suitable for beginner and professional traders?
Yes, from the Alpari review, it can be determined that Alpari International accommodates beginner traders, experienced traders, and professional traders.
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