Tracked byIndependent review teamUpdated Methodology
Alpari
27 years of operating history (founded 1998) — predates most current retail brokers
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Editorial take
Alpari is one of the oldest names in retail forex, founded in 1998 in Russia with subsequent reincorporation in Saint Vincent and the Grenadines and now the Comoros. The current operating entity holds a MISA Comoros licence, which sits in our high-risk tier — there is no statutory client compensation scheme and limited consumer recourse. The minimum $500 deposit is unusually high for the offshore segment and signals targeting at trader cohorts already familiar with the business model.
Alpari's modern regulator footprint is thinner than its historical reputation suggests. The MISA-only licence is the operative concern: if you trade under it, your funds rely on Alpari's internal segregation policies rather than a recognised compensation backstop. Cost is competitive (~$7.50/lot on Pro accounts) but is matched by FCA-licensed peers like FxPro and Tickmill. Most users are better served by those alternatives unless Alpari's MT5 features specifically suit a strategy you're running.
Alpari runs four account types: Standard.MT4/MT5 (spread-only), ECN.MT4/MT5 (raw + commission), Pro.ECN (premium raw spreads with low commission for high-volume traders), and Cent (cent-denominated for ultra-small positions). Retail onboarding goes through Alpari Limited (Saint Vincent and the Grenadines FSA) — no tier-1 entity in the group as of 2024. Treat as offshore: useful for high-leverage trading restricted in EU/UK/AU jurisdictions, but with limited consumer recourse compared with FCA-onboarded peers.
Pricing
- Avg spread
- 0.25 pip
- Commission
- $5.00 / lot
- Min deposit
- $500
- Max leverage
- 1:1000
Realised cost · EUR/USD · Alpari
| Position | Spread cost | Commission | Total |
|---|---|---|---|
| 0.1 lots | $0.25 | $0.50 | $0.75 |
| 1 lot | $2.50 | $5.00 | $7.50 |
| 10 lots | $25.00 | $50.00 | $75.00 |
Account: Pro ECN (MT4/MT5) · Verified · source ↗
Regulation
- MISAKMMwali International Services Authority
Mwali (Comoros) offshore licensing — no segregation requirement, no compensation. Verify: mwalifsa.com
Regulator actions
- FCAlicense suspendedAlpari (UK) Ltd enters special administration after SNB-franc crisis
After the Swiss National Bank removed the EUR/CHF floor on 15 January 2015, Alpari (UK) Ltd became insolvent and was placed into special administration. Eligible retail clients received FSCS compensation up to the then-£50,000 limit. The UK entity never resumed trading; Alpari International today operates under Mwali (Comoros) licensing — a different legal entity.
Source ↗
Platforms
Payment methods
Deposit
- Visa / Mastercard for funding trading accounts via MyAlpariFee: 0 Alpari fee; $3 flat for transactions under $30 USD/EUR; card / bank may charge a percentage
- Bank transfer (SWIFT / wire) in USD / EUR and other currenciesFee: 0 for sums ≥ $30; $3 flat for sums < $30; sender bank may charge
- Local payment solutions and online banking (region-dependent)Fee: No internal deposit fee except $3 for sums < $30
- E-wallets (Perfect Money, WebMoney, etc. — also for Alpari Option / FX)Fee: 0 for sums ≥ $30; $3 flat for sums < $30
- Crypto deposits (BTC and others) via Crypto PaymentsFee: 0 Alpari fee; min $10; $3 flat for sums < $30
- Internal transfers between MyAlpari wallet and trading accountsFee: 0, regardless of amount
Withdraw
- Bank withdrawal (SWIFT / wire) via Funds → WithdrawalFee: 0 for sums ≥ $30; $3 flat for sums < $30; bank fees may apply
- Withdrawal to the same card used for deposit (closed-loop policy)Fee: 0 for sums ≥ $30; $3 flat for sums < $30
- Withdrawal to Perfect Money, WebMoney, and other e-walletsFee: Provider-dependent percentage fee; $3 flat for sums < $30
- Crypto withdrawal to external walletFee: 0 Alpari fee for sums ≥ $30; $3 flat for sums < $30; network fee applies
- Withdrawal / transfer via vouchers (mainly for regional products and Option)Fee: Depends on voucher type / provider; $3 min for transactions < $30
Who this fits
Fits if
- ✓You have $500+ and want commission-based Pro ECN pricing at ~$7.50/lot with 27 years of operating history
- ✓You're in a jurisdiction outside EU/UK/US/Japan/Canada where Alpari's MISA (Comoros) entity onboards you
- ✓You want offshore high-leverage access (up to 1:3000 on Standard) at a legacy retail brand
Avoid if
- ✕You live in the US, UK, Canada, Japan, India, Myanmar, any of the 27 EU member states, or OFAC-sanctioned — 38 jurisdictions total
- ✕You value tier-1 regulation — Alpari lost its FCA licence in 2015 (special administration event); MISA (Comoros) is lightly-regulated with no compensation scheme
- ✕You make frequent small transactions under $30 — Alpari charges a $3 flat fee on those (a micro-tax unusual in our list)
- ✕You start under $500 — Pro ECN requires $500 minimum; Standard starts at $50 but widens spread to ~1.2 pip from
- ✕You want cTrader, proprietary platforms, or multi-platform flexibility — Alpari is MT4 / MT5 only
Compare to other brokers
Frequently asked
What licence does Alpari hold?
Alpari is regulated by MISA. Verify on each regulator's public register before opening an account.
What are Alpari's fees and commissions?
Standard tariff: Pro ECN (MT4/MT5). Commission per trade: 5%. Minimum deposit: $500. Detailed pricing in the section above.
How do I open an account at Alpari?
Online onboarding: visit Alpari's site, complete the application (ID + tax number), pass identity verification, fund the account ($500 minimum). Open an account: https://alpari.com/?Referral=69566.
What trading platforms does Alpari offer?
Alpari provides: MetaTrader 4, MetaTrader 5.
What is Alpari's minimum deposit?
$500.
Coverage note
- Brokers tracked
- 14
- Regulators indexed
- 55
- Regulator actions logged
- 2
- Latest pricing verification
- Jun 1, 2026
The information above combines broker disclosures, public regulator registries, and our own editorial fit assessment. We do not open live accounts or run execution tests — published pricing is a typical figure, not a guarantee of what you'll pay. Decide accordingly.