If you are new in financial trading, then you may have many unanswered questions crucial in your business dealings, such as the best software to use, tools and accounts. A perfect solution to all these trading needs is a Forex brokerage company.
Even on knowing this, you will still need to pick a reputable Forex and commodity brokerage agency and here we present to you a reliable broker-Alpari.
This post is a review for Alpari and a guide to show you what you should be looking for in a Forex broker that is worth investing in.
What is Alpari?
Alpari is a licensed Forex and commodity brokerage company regulated and authorized by the Financial Services Commission of the Republic of Mauritius. It was founded in 1998 and it is a brand name for Exinity limited.
This Forex broker provides users with the ability to trade on more than 250 CDF instruments. Other than brokerage services, it ensures user protection by offering a negative balance protection policy.
As a trader, you should consider several essential items when settling for a given Forex broker, as this will determine the return on investment you will make when you kick off your trades.
Factors to consider when choosing a Forex and commodity broker/ what Alpari offers
|Payment methods||Visa, MasterCard, E-wallets, Bank Wire Transfers and Bitcoin. Other local transfer options are acceptable such as Pakistani Local Transfer, Mexican Local Transfer, Indonesian Local Transfer
|Transaction cost||Zero deposit and withdrawal fees|
|Security & Regulation||Licensed by the Financial Services Commission of Mauritius, license number C113012295 Code FS-4.1, Code SEC-2.1B|
$5 but may vary depending on the type of account.
To make the best out of Forex trading, you need to strategize on using different accounts depending on your expertise and capital level. It would help if you used a Forex and commodity broker that offers various Forex accounts.
Alpari offers four types of Forex accounts, making it a highly preferred broker. These account types are divided into standard and enhanced accounts, where the standard accounts include MT4 Micro Account and the standard MT4 account. These offer market-maker execution. The enhanced accounts are standard ECN and ECN pro accounts recommended for experienced traders as they provide instant execution.
They also provide you with a demo account with virtual funds that you can leverage when learning how to trade.
It is best to use a broker that offers decent leverage terms, as this will play a significant role in increasing your trading gains when used efficiently. If you are a conservative trader and you don’t like taking high risks, you should use minimum leverage, but if otherwise, you should use maximum leverage to make higher returns on invested capital.
Alpari offers different leverage depending on the type of account; for example, MT4 Micro Account offers a 1:400 maximum available leverage and for ECN, the maximum available leverage is 1:1000.
Withdrawal and deposits
It would be best to go for a broker with a wide range of deposit/withdrawal methods available for your use. It is equally necessary to go for those with minimum commissions when depositing and withdrawing.
Alpari offers a wide choice of payment and withdrawal options available on their website. These include Visa, MasterCard, E-wallets, Bank Wire Transfers and Bitcoin. Other local transfer options are acceptable such as Pakistani Local Transfer, Mexican Local Transfer, Indonesian Local Transfer and others.
When doing Forex trading, security is paramount and hence you should use a broker that guarantees you maximum security for your personal and financial information. It would be best to settle for a legitimately licensed broker with a well-developed infrastructure for fund protection.
Alpari ensures your personal information’s privacy and safety as payment details are processed through the site by a secure payment provider.
Alpari is licensed by the Financial Services Commission of Mauritius, license number C113012295 Code FS-4.1, Code SEC-2.1B.
Bonus & promotions
Bonus and promotions are critical in trading as they increase your earning chances. Therefore, it would help if you went for brokers with many bonuses, promotion opportunities, and prizes.
Alpari offers contests for skilled traders and the winner gets to win a cash fund prize increasing your earnings. You get to earn $50 when you refer a friend and there is also the Alpari cashback program where you get refunded $5 on every trade you make.
Order execution refers to the price at which you buy or sell a given currency making this stage the most important in Forex trading. For flexibility, you should go for a broker who offers both instant and market-type executions.
Alpari offers all execution modes while maintaining rapid execution speed to get the best possible prices for your trade.
The trading platform is where your trades run and it will be crucial to choose a broker offering flexible and easy-to-use platforms. Good platforms translate to smooth trading and more returns.
Alpari operates on Meta Trader 4 and Meta Trader 5 platforms that are both easy to navigate and with chatting tools for support. It offers four platform versions: Android, iOS, Desktop and Web Trader, which are all user-friendly, hence best for beginners.
When investing in Forex trading, you should ensure that the brokerage costs are kept at the very minimum. To increase your earnings, choose a broker with minimum commissions and fees.
For Alpari, there is no commission when making payment, but it applies to withdrawals.
The only additional cost you may incur here is the spreads guided by the account type you are using. For example, for a micro MT4 account, offer spreads starts from 1.7 pips.
Customer service is critical in any business engagement; thus, you need to choose a Forex and commodity broker with reputable and excellent customer support services.
Alpari offers good customer services and they are always willing to help clients through the support live chat on the website, email and phone services. You can also access their website in nine different languages. The customer care based in Mauritius is available 24 hours a day, during weekdays.
Alpari offers one of the best services in every aspect of Forex trading from minimum deposits, leverage, security, execution, bonuses, customer services and many more. If you are looking for a Forex and commodity broker, Alpari should be among your choices as it is reliable and flexible. Considering that this broker is fully licensed, your funds and personal information will be safe here hence we highly recommend it.