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Alpari uk Forex Brokers
Recommended Forex Brokers - Alpari uk
I have been using Alpari UK forex broker to trial new systems on a micro account for the last year. I have to say that I have been impressed so far. They have consistently worked to reduce their spreads and their service is good.
I have had very few problems with slippage, price spikes and other tricks used by some brokers. Do I recommend them? Yes. They are FSA regulated and bonded with the British Government, so your deposit is protected in the event that they were to fold. You have the option of various trading platforms including the ever popular MetaTrader 4.
Alpari UK look like they are slowly moving towards being an ECN – their current MetaTrader platform is advertised as being “Non-Dealing Desk execution” - whilst their “Alpari Direct Pro” platform provides true ECN functionality.
An ECN – Electronic Communications Network- means that they are an Interbank intermediary. They make their income from a small fixed commission, NOT from your losing trades. This is how brokerages in the Stock, Commodities, Bonds and Options markets work, and it is about time that all Forex brokers went the same way.
The difficulty for the brokers that have offered ECN or STP (Straight Through Processing) to date has been removing the dealing desk functionality that is at the core of MetaTrader. Consequently, many brokers such as Dukascopy and MB Trading have less than impeccable review histories on the Internet, especially when they first went live – the platform itself was problematic for users as it was being used in a way that it wasn’t initially designed.
My feeling is that they will offer ECN/STP functionality when they bring in MetaTrader 5.
Alpari Service Summary (MetaTrader 4):
Unfortunately, Alpari UK does not accept clients from the United States or British Columbia in Canada at this time.
- Spreads from 1 pip.
- No re-quotes.
- Non-Dealing Desk execution.
- Minimum Account Size US$200
- Floating leverage up to 1:500.
- Range of account currencies.
- No commissions for Classic and Micro accounts.
- MT4 EA-compatible including Scalping Expert Advisors.
- FSA regulation and FSCS protection of funds.
- No NFA/FIFO issues – e.g. hedging allowed.
- Visit www.alpari.co.uk for more details and to download a demo platform.
There is an Alpari USA broker, but I have heard mixed (and generally poor) reviews for them.
If you are interested in opening a live account I have arranged through my partners The Aslan Group for you to receive trading rebates equal to 0.24 pips/lot. Click Here for details and instructions.
If you already have an account at Alpari Uk you can begin receiving rebates by simply completing this Commission Disclosure Form and emailing it to partnerships@alpari.co.uk
Nothing will change on your account; you will continue to receive the same spreads and even keep the same account number however you begin receiving monthly cash rebates of approximately $2.40 per standard lot traded.
If you have any queries regarding Alpari UK, simply email me here: admin@forex-fxtrader.com or share your questions with the Forex-FXTrader community here on the Forum.
If you have used this broker, please let us know your thoughts.
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and they questioned the account source and name, which simply tells me they are doing their job and checking for money laundering and other underhand practices. Any financial company that takes such things seriously is more likely to be an honest broker than, for example, one that accepts credit card deposits without any checks.
