Alpari

Added on September 19, 2011 09:31 AM
(4 / 5)
Spread: 1.6 Min. lot: 0.01 Execution: ECN,STP,Market Maker
Leverage: 1:500 Country: United Kingdom Regulated by: FSA
Min. deposit: $200 Platforms: Metatrader, Custom trading platform, Currenex, Mirror Trader Payment methods: Bank Wire, Credit card, Cheque
Headquarters: 41 Eastcheap, London EC3M 1DT

 

Alpari kowtows to the Forex industry benchmark by proffering the most promising Alpari Meta Trader 4 platforms. Taking a look at the platform, it is easy to understand why this Forex brokerage is up to the standard. Alpari Forex trading platforms has two different accounts – micro and professional. Whereas the micro account can trade 32 pairs of currency, the professional account can trade 57 pairs.

Alpari also offers an expansive trading opportunity that most Forex brokers tend to overlook. In this extensive review of Alpari, we have tested the trading platform of the company, their customer support, features and trading platforms so that users can make a knowledgeable decision as to whether this Forex broker is the best choice or not.

Features and Trading Platforms

With 2 leading trading platforms and several variations offered, Alpari has the largest collection of Forex trading platform available on the market today. Whilst testing each platform is simply impossible and beyond the capacity of any reviews, it was possible to take out time to try and evaluate the ease and effectiveness of using the platform.

This particular trading platform, though not different from most others, offers some really interesting features.

  • MetaTrader 4: MetaTrader 4 is the highly acclaimed Forex trading platform today, which is also believed to be the most preferred platforms. In fact, expert Forex traders rely on this platform for trading. Alapri offers the MetaTrader 4 platform in 3 downloadable versions and a mobile version too. There is a MetaTrader 4 Pro version that offers similar benefits like that of conventional MetaTrader 4, but with limited dealing desk execution, no possibility of re-quotes and some additional pairs of currency.
  •  Alpari Direct and Direct Pro Features: Browsing through the website, we found no conclusive information about the Alpari Direct and Alpari Direct Pro features. However, we could ascertain that this particular trading platform has been designed for the advanced traders who want faster speed of execution for higher volume of trading. Both the Alpari Direct versions are now available to Forex traders upon depositing a minimum amount of $20,000, and neither of them has dealing desk executions.
  • Systematic Platform: The autotrader system included in Alpari is run through Alpari MetaTrader platform. It offers the advanced risk-management system, which is excellent. In addition, there is no maintenance or subscription fee, which makes it one of the most advantageous features to be used. However, access to this Systematic platform is restricted to traders who have open “Classic” account that require a minimum deposit of $500.
  • MetaTrader 5: Alpari has included MetaTrader 5, even though it is not as popular as its forerunner. However, it is likely to grow and become one of the most advanced trading features because it offers 39 graphical objects, 38 inbuilt indicators and a lot of ways to customizer the trading desktop. However, it was strange to find that this platform can only be availed in the demo version; it is not offered for live trading.

Features

Apart from the astounding range of Forex trading platforms, Alpari has certain outstanding features that deserve to be mentioned. One thing was epically useful about this Forex trading platforms – the Alpari forum. Unlike most of the other Forex broker forums, this forum was not crowded with spam; it wasn’t neglected by the users as well. Rather, the forum hosted some really interesting and learning question and answer related to the subject from real traders and users. Traders in need of some guidance could also be happy with the introductory video and guide that was offered upon the completion of registration.

Traders who seek analytical features and tools will be impressed with the options offered by Alpari. Alpari’s trading platform offers some interesting options to choose from. Besides the standard fundamental as well as technical analyses, Alpari is notable for some other options, too, which includes:

  • Autocharist: It is a popular platform, which helps in recognizing the patterns of charts.
  • Alpari Squawk: It is the live audio stream of Alpari that operated on weekdays, Monday through Friday, offering relevant market information and news.
  • Web TV: Alpari also offers web TV; you can watch specialized news feed video streaming. But, the information offered is flat, as the ones who follow regular Forex trading news will have more idea about the market details.

Help and Support

Alpari, though headquartered at UK, has customer service centers operating in 7 countries, which includes UK, America, Russia, China, Germany, UAE and India. However, users should know that the customer service centers are available only on Monday-Friday; working hours is 7am to 11pm GMT. It may be inconvenient for traders who want to clarify their issues on weekends. Nevertheless, the customer service is highly proficient. Shorter hold times during phone inquiry and quick response are time of the most important features that can make you overlook the weekend issue.

Alpari email service is also one among the fastest we have seen till date. There response time is quick and impressive.

However, the biggest limitation of Alpari’s customer service is that they do not have online chat support, which is, now, an important requirement. Online chat support is one feature that is found to be helpful when using the online trading feature. So, that can be called a drawback that Alpari has to emphasize on.

Summary

While the website for Forex trading is navigable, the trading platforms and account registration methods were remarkably less straightforward. The process of account registration takes you through 5 steps, involving volley of questions, concluding with the need to scan or fax and email the application along with the copies of ID proof and address verification. The procedure is uselessly long. Although this approach may be treated as the thoroughness of the Forex trading service provider, especially for new brokers, it is untimely and frustrating for most others.  An exhaustive process of registration is not much appreciated in the modern Forex trading scenario.

There was just one shortcut, which we found quite intriguing – the registration forms had many pre-filled fields. This means that traders could be approved for Forex trading merely by agreeing to the default settings, whether entirely accurate or not.

When the Alapari MetaTrader 4 platform is concerned, the functions seemed to be very good. However, it is important to note that the platform if sufficient for experienced traders only; it may not be the perfect choice for first-timers.

Tags:
MT4, broker, traders

Clicky