If you are looking for peace of mind when trading forex, Alpari is one forex broker you should take a long hard look at. Unlike many other forex brokers, Alpari is multinational. While it is based in Moscow, it has a satellite office in New Zealand. Previously, it had an office in London England. This office constituted Alpari UK. However, due to the losses sustained by Alpari UK sustained in the wake of the Swiss National Bank's uncoupling of the Swiss Franc from the Euro, Alpari UK had to declare insolvency.
Although Alpari is a global fx player, it doesn't take US-based clients.
Established in 1998, Alpari offers a very flexible range of forex services ranging from the standard forex market maker account to a full-featured ECN account. In addition to its robust trading platform, this fx broker also offers demo accounts new account holders can use to practice trades. These accounts are completely risk-free and are good for 30 days. If you need more time practicing your trades, you can easily extend your demo account's term.
Alpari offers an impressive range of educational resources both new and seasoned traders can use to improve their trading strategies.
Alpari's platform uses the forex industry standard platform, MetaTrader4. Traders can use both the PC or Mac version. Besides support for desktops and notebook computers, MetaTrader users can also access their accounts via wireless mobile devices like smartphones and tablets through MetaTrader Mobile.
If you are a volume trader or need advanced capabilities, Alpari also offers MetaTrader Pro. If you want high granularity data and advanced trading capabilities along with news feeds, you might want to try Alpari Direct. This trade feature enables account holders to place trades directly on the market without having to go through Alpari's dealer desk.
Another impressive feature of Alpari Direct is traders don't have to switch screens to place trades. You can be viewing a chart, decide to make a move, and execute an order from within the same screen. No hassles. No lost momentum. No confusion.
Finally, if you are an old school trader and would like to place an order over the phone, Alpari enables you to do just that. Of course, all phone orders are standardized to minimize errors. However, keep in mind that your phone order privileges can be taken away if you fail to follow the right phone ordering steps.
If you are a volume player or have a large account, Alpari's ECN system is great. Instead of placing forex bets with Alpari as a market maker, you can use Alpari as your broker to place forex trades on the global interbank market. To play at this level, you need a Pro account which requires a $10,000 minimum deposit.
This ECN option is crucial to some forex traders. If you are dealing with a forex broker in a market-maker arrangement, there might be a conflict of interest for the broker. It may operate in such a way that it might not keep your best interest in mind. With the ECN option available for Pro account users, Alpari acts as your broker but isn't setting the market, you trade directly on the global interbank market. Alpari's interest lies solely in facilitating your trades-it doesn't stand to benefit if you gain or lose from your trades. This is in stark contrast from the typical market maker arrangement where you are betting against your fx broker.
ECN trades enable you to bet on the interbank market without worrying if there is a conflict of interest between you and your broker. This lack of conflict of interest issues allows you to trade freely and trade with a wide latitude. Given Alpari's robust trading platform, you enjoy a great mix of proven trading functionalities.
Please note that the drawback to ECN is that you have to have more cash upfront. A $10,000 minimum deposit is required. Also, compared to the standard market maker account, you have to trade in larger lots whereas standard accounts can trade in small .01 lots.
Alpari offers two accounts: Standard and Pro
Standard accounts can be opened with as little as $500. Pro accounts require a $10,000 minimum deposit. You can wire in the funds, transfer from Paypal, send in a check or pay via credit card.
This broker doesn't withhold taxes from your account. You are responsible for all tax withholding from your investment activities.
Alpari offers live chat, email, and phone customer support. It is usually easy to get a hold of a client
support professional through any of these communication options. Keep in mind that support hours are from 9AM to 6PM EST Monday to Friday.
Besides client support, would be Alpari customers should also take advantage of the Alpari Academy-a comprehensive forex education resource full of tutorials and frequently answered questions about most, if not all, customer questions regarding foreign exchange trading.
If you are looking for macroeconomic or late breaking news to help you gauge the direction of the currency pair you're trading, Alpari Squawk, provides audio commentary on late breaking market developments.
Your account information is safe with Alpari since this company uses standard page encryption technology to ensure your account information isn't intercepted.
If you are looking for a US-based trustworthy foreign exchange broker that can give you solid options on how to play the global forex market, Alpari is definitely worth opening an account with. Operating from a solid trading platform and guided by many years of experience, this forex broker can deliver solid forex trading value for both professional and novice traders alike. It isn't just a forex broker, it also offers tons of educational resources that can enable traders to make more informed (and hopefully more profitable) trading decisions.